EIB plans to support creation of Greek development bank

President Werner Hoyer stated to Germany’s Boersen-Zeitung that European Investment Bank plans to spend between EUR 30bn and EUR 50bn to set up new development bank in Greece and is willing to increase contribution if project is successful.

EIB plans to provide risk capital for small and medium-sized companies, as well as to contribute money to venture capital department of new “Institute for Growth,” which will probably will be set up as a “fund of funds,” similar to the European Investment Fund.

Source: capital.gr