The European Bank for Reconstruction and Development got shareholder approval to extend its mandate in Greece until 2025 to support the country’s recovery from a debt crisis and deep recession, the EBRD said on Tuesday, according to Reuters.
The extension will enable the bank to continue supporting the Greek private sector, improving competitiveness and boosting the regional integration of the country’s economy.
The European Bank for Reconstruction and Development began investing in Greece in 2015 on a temporary mandate that was initially due to run until 2020. Already, the bank has invested over 2 billion euros in more than 42 projects in Greece. Last year, business investment reached 614 million euros, placing Greece among the top five countries of EBRD operations.
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