Businesses reluctant to tap financing

Tens of million of euros remain unused in the coffers of the Institute for Growth (IfG) which are intended to support Greek enterprises, as businesspeople appear particularly reluctant to ask banks for funding owing to the uncertainty that has reigned since the January election was called.

As a result, no more than 25-30 million euros out of a total 200 million available has been utilized through bank financing, according to Kathimerini sources.

In a number of cases businesses have even chosen not to sign the contracts and collect the loans that they had applied and received approval for, in a clear sign of the majority of local entrepreneurs adopting a wait-and-see stance.

All this is crushing the original expectations of the operation of this new funding institution, which had arisen in a normal political and economic climate.

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