Greece received increased EBRD funding in 2017

The European Bank for Reconstruction and Development (EBRD) increased its funding to Greece in 2017, according to the Financial Times on Wednesday.

Specifically, Greece received 614 million euros, up from 485 million euros in 2016. Turkey was the biggest recipient, with 1.54 billion euros, though that was down from 1.92 billion euros in 2016.

Financing to Egypt, which only became an EBRD recipient country in 2015, almost doubled to 1.41 billion euros, to make it the EBRD’s second largest investment destination.

In general, EBRD reported another year of record lending of 9.7 billion euros in 2017, up from 9.4 billion euros in 2016 despite the financing freeze to Russia, which was the largest investment destination, the newspaper said.