EBRD to extend Greek funding for 5 more years

The European Bank for Reconstruction and Development will ask its board to approve the extension of its mandate in Greece by five years to 2025 to help the country’s economic recovery, EBRD President Suma Chakrabarti told Reuters on Tuesday.

Active in Greece in the last two-and-a-half years, the development bank has so far financed 1.6 billion euros of investments through 31 projects, all with the private sector.

Athens has asked it to extend its mandate, due to end in 2020.

[Reuters]