ECONOMY

Hoyer says EIB to expand in Greece

hoyer-says-eib-to-expand-in-greece

The European Investment Bank will step up its operations in Greece and doesn’t need to wait on results of this month’s election, EIB President Werner Hoyer said on Friday.

“We now want to boost our business in Greece,” Hoyer told reporters in Luxembourg.

He said the EIB will work closely with the European Commission so the two institutions can coordinate their loans and grants.

“We plan to expand our lending to new sectors and further develop our direct lending to the private sector,” especially to small and medium-sized enterprises, he said.

The European Investment Bank’s exposure to Greece stands at about 18 billion euros.

[Bloomberg]