Greek development bank to be ready at end of June, says Papadimitriou

Development Banks from Germany, France, Britain and non-European countries like Brazil will contribute in the funding of Greece’s Development Bank, which will be ready at the end of June, Economy Minister Dimitri Papadimitriou said on Wednesday, during a business conference organized by the Hellenic Federation of Enterprises (SEV) on small and medium-sized enterprises (SMEs).

The minister said the bank’s funding has been ensured, adding that Greece is the only EU country that doesn’t have one.

The government announced last summer that the state development bank will lend to small and medium-sized enterprises to aid their recovery from the economic crisis.