Athens News Agency: News in English, 06-02-03

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Minister welcomes EIB loans

[01] Minister welcomes EIB loans

"The Public Gas Corporation of Greece and its board are undertaking projects, and not merely announcing them...The loans demonstrate a great confidence in the outlook for the Greek economy," Sioufas told the signing ceremony.

Sioufas thanked EIB vice-president Gerlando Genuardi for an excellent level of cooperation.

The European Investment Bank signed funding agreements worth 895 million euros with Greece last year, with approved loan agreements totalling 1.5 billion euros, covering mainly the sectors of transport and energy, EIB's vice-president Gerlando Genuardi said on his part.

Speaking to reporters, after the signing of a loan agreement, worth 45 million euros, between EIB and DEPA, Greece's natural gas grid operator, Genuardi announced a loan of 50 million euros to Emporiki Bank to fund small- and medium-sized enterprises in the manufacturing, tourism and services sectors. Similar loan agreements have been signed with Alpha Bank and Eurobank, while EIB is also discussing the approval of new funds, the European banker said.

EIB focuses on supporting SMEs and seeks closer cooperation with Greek banks - with increasing activity in the Balkans and the Southeast European markets, Genuardi stressed, adding that the European bank was in talks with the municipalities of Athens and Thessaloniki, and another two municipalities in the Attica region for new loans.

EIB's officials expect that total loan approvals to Greece could reach 2.0 billion euros this year. Genuardi said the bank emphasized on supporting joint ventures between public and private sector companies, SMEs, municipalities and underlined the need to expand relations with the private sector.

EIB signed loan agreements totalling 47.4 billion euros with 150 countries last year, up 10 pct from 2004.

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