ECONOMY

EIB support for young Greek farmers

eib-support-for-young-greek-farmers

The European Investment Bank will launch a new, targeted financing product for young farmers in 2020 that will benefit Greek agriculture, according to senior EIB official Andrew McDowell.

The bank’s vice president responsible for lending operations in Greece and global agriculture financing met on Monday in Athens with Kostas Skrekas, deputy minister for agricultural development and food.

Their meeting confirmed the lender’s strengthened support for agriculture and agribusiness investment in Greece through existing credit lines with locally active banks and confirmed advanced discussions for new financial support for investment by young farmers across the country.

“Greece is a European leader in agriculture and agribusiness. As the EU Bank, the EIB is committed to strengthening access to finance by farmers, agriculture and agribusiness across Greece,” said McDowell.

“Today’s discussions with Minister Skrekas will help to strengthen the impact of EIB support for investment by young farmers. A new targeted product is expected to be launched as soon as the beginning of next year,” he revealed.

“Talks with Vice President McDowell confirmed our shared commitment to tackle investment challenges facing agriculture and to use existing and new financing programs to support the essential investments for the modernization of the Greek primary sector including the development of renewable energy resources for net metering,” said Skrekas.