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Greece is on the verge of setting up a development bank to finance startups, infrastructure projects, small businesses as well as export oriented companies, as the government's economic policy council informed on Friday.
The Hellenic Development Bank is going to be a state lender, which will complement commercial financial institutions to assist to fund surge as well as regional projects.
The bank will look for the participation of other state entities with adequate funding capacity to participate in its share capital and also cooperate with international financial institutions.
Greece's economy, heavily affected by the country's debt crisis, is currently struggling to revive after a multi-year deep downtime.
Other European development banks have been providing funds for investments. For instance, the European Bank for Reconstruction and Development is going to pump funds in Greece until the end of 2020 and actually hopes by 2018 its funding will hit the 2.0 billion euro mark.
It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target.
The weekly indicator of consumer confidence from ANZ rallied by 0…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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