Black Sea Bank announces 160-mln-euro loan to PPC

Black Sea Trade and Development Bank on Monday announced the signing of an agreement with Public Power Corporation (PPC) to offer a five-year loan worth 160 million euros.

In an announcement, the bank said the loan was the biggest offered by Black Sea Trade and Development Bank so far and noted that the money will be used to finance PPC’s capital spending plan.

The financing agreement will has multiple benefits to the Greek economy and the energy sector particularly, improving the energy mix and energy infrastructure of the country. It also expects the loan to help in restoring economic growth in Greece, creating tax revenue, new job positions and boosting confidence in a vital sector of the economy.