The European Investment Bank announced on Tuesday it will work with Greece’s systematic banks to provide 500 million euros’ worth of loans for new business investment in the country, including dedicated financing for companies across the country that actively support youth employment and the empowerment of women in the workplace.
The new financing initiative represents the first dedicated support by the EIB in Greece for companies that support female entrepreneurship and female corporate leadership, and will contribute to the greater professional empowerment of women.
The new program will also encourage greater youth employment using the EIB’s “Skills and Jobs – investing for youth” model and builds on the success of past schemes that have enabled jobs for hundreds of young people.
“When more women work, economies grow. The European Investment Bank Group is committed to supporting private sector investment in Greece and, for the first time, this new 500-million-euro business financing program, developed and implemented with leading Greek banks, targets support for companies that provide new opportunities for women. The new scheme also directly tackles youth unemployment and builds on the success of past support to create jobs and improve skills for young people,” said Andrew McDowell, EIB vice president responsible for Greece.
The new targeted financing scheme has been agreed with four lenders, Alpha, Eurobank, National Bank and Piraeus.