EBRD agrees lending to Greece until end of 2020: EBRD president
[BRUSSELS] The European Bank of Reconstruction and Development (EBRD) has cleared the provision of cheap aid and funding support until the end of 2020 to Greece, EBRD President Suma Chakrabarti told a news briefing on Tuesday.
The former Greek government put in a request late last year to become an EBRD 'country of operation' and make it eligible for the development bank's support, but the process was put on hold during the uncertainty of the country's recent elections.
However last week's four-month Greek aid extension by the eurozone has put it back on track and EBRD shareholders - 64 countries plus the European Union and European Investment Bank - unanimously back the proposal on Friday.
Mr Chakrabarti said there would be no upper limit for the loans to Greece but that the amount would depend upon the projects proposed.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons