EBRD’s first agribusi­ness trans­ac­tion in Greece

Kathimerini English - - Focus -

The Euro­pean Bank for Re­con­struc­tion and De­vel­op­ment (EBRD) yes­ter­day an­nounced it has suc­cess­fully com­pleted its first trans­ac­tion in the agribusi­ness sec­tor in Greece by pro­vid­ing 10 mil­lion eu­ros in long-term fi­nanc­ing to Loulis Mills, a lead­ing com­pany in the Greek flour milling in­dus­try. The EBRD par­tic­i­pated in the pur­chase of a 40mil­lion-eu­ros bond loan fa­cil­ity along­side Al­pha Bank, Eurobank and Na­tional Bank of Greece. The fund­ing will fi­nance ad­di­tional work­ing cap­i­tal and re­fi­nance part of Loulis Mills’s ex­ist­ing and ma­tur­ing debt obli­ga­tions. Sabina

For Greece to achieve eco­nomic growth, re­turn to the mar­kets and at­tract new in­vest­ment to the coun­try, it must com­plete its sec­ond re­view, at­tain po­lit­i­cal sta­bil­ity and re­build its cred­i­bil­ity, the board of the Ger­man-Greek Cham­ber of Com­merce and In­dus­try said af­ter an event it held in Thes­sa­loniki on Fri­day. Dz­i­ur­man, EBRD di­rec­tor for Greece and Cyprus, men­tioned that “this trans­ac­tion is not only our first in­vest­ment in the Greek agribusi­ness sec­tor, but also the trans­ac­tion that closes a very suc­cess­ful first full year of the EBRD’s op­er­a­tions in Greece, hav­ing signed some 800 mil­lion-euro trans­ac­tions to date. The EBRD will con­tinue to re­main ac­tive in Greece and boost its ef­forts to sup­port the Greek cor­po­rate sec­tor in co­op­er­a­tion with lo­cal com­mer­cial banks and through mo­bi­liz­ing other co-fi­nanciers.” Gilles Met­te­tal, di­rec­tor of the EBRD’s agribusi­ness team, added: “We are happy to pro­vide di­rect sup­port along­side lo­cal com­mer­cial banks and en­hance the re­silience of the Greek pri­vate sec­tor at this chal­leng­ing time for the coun­try. Greece has many good pri­vate com­pa­nies and for them to thrive they need ac­cess to fi­nance.”

Con­di­tions.

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