An agreement for the provision of liquidity to the market was signed in Athens, yesterday, between Finance Minister Giannis Stournaras and visiting European Investment Bank (EIB) President Werner Hoyer. The agreement anticipates the immediate disbursement of up to €750 million of new EIB funding in Greece over the next few months. The sum will increase to € 1 billion by the end of next year and €1.44 billion by 2015. Greek enterprises will be able to access the money via three Greek banks, which will be responsible for the allocation of the new funding.

The Agreement facilitates the signature of new loans for investment in energy, transport and education, and paves the way to disbursements for projects where the Guarantee of the Hellenic Republic is a prerequisite.

Moreover, it enables the operation of the SME Guarantee Fund established in March of this year, as a joint initiative between Greece, the European Commission and the EIB. Hoyer, who was also received by Prime Minister Antonis Samaras, said that "the signature today opens the way to new funding for key investments, which support economic development in Greece. We are committed to supporting Greece."