EBRD Extends its Mandate in Greece

EBRD Extends its Mandate in Greece

EBRD Extends its Mandate in Greece

The FINANCIAL -- The shareholders of the European Bank for Reconstruction and Development (EBRD) have agreed to extend the Bank’s mandate in Greece until 2025.

The extension of the mandate will allow the EBRD to continue supporting the Greek private sector, improving competitiveness and strengthening the regional integration of the local economy with EBRD investment and policy engagement.

Recognising the EBRD’s contribution to Greece’s recent economic recovery and the benefit of further engagement by the Bank, the Greek authorities requested an extension of the EBRD mandate in March 2018.

The EBRD started investing in Greece in 2015 based on a temporary mandate which was due initially to run until 2020.

The Bank has invested over €2 billion in more than 42 projects in the country to date. In 2017 alone, annual business investment reached €614 million, all in the private sector, placing Greece among the top five EBRD countries of operations for that year.