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Athens Macedonian News Agency: News in English, 16-08-23

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Tsipras to propose switching to a social and growth-oriented agenda at PES
  • [02] IFC signs 100-mln-euro trade deal with Eurobank

  • [01] Tsipras to propose switching to a social and growth-oriented agenda at PES

    Prime Minister Alexis Tsipras will propose strengthening Europe's growth and social agenda during a summit of the Party of European Socialists (PES) in Paris on Thursday, government sources said on Tuesday.

    Tsipras has been invited for the second time to attend the event as an observer. Heads of state and party leaders who are members of PES are expected to focus on forming a common stance for the informal EU summit of Bratislava on September 16, which will discuss Brexit and the new realities it creates for Europe.

    "At the Paris meeting, the Greek side will propose adopting from progressive European leaders a common stance towards strengthening Europe's social and economic development agenda, which are already included in PES' declarations, as well as in those of the European Left," the sources said, adding Tsipras will also push for the adoption of a common asylum policy for all EU member-states.

    [02] IFC signs 100-mln-euro trade deal with Eurobank

    The International Finance Corporation (IFC), a unit of the World Bank, signed a deal with Eurobank on Tuesday to provide 100 million euros to the Greek lender, as part of its global financing program.

    "IFC's trade facility will help Eurobank boost its trade finance activity and competitiveness, with a focus on export-related business, by providing risk mitigation for individual trade transactions through GTFP's growing network of issuing and confirming banks," the corporation said in a press release.

    "The agreement is part of our initiative to restore the Greek economy, and will benefit both entrepreneurs, who are struggling to remain competitive globally under unfavorable conditions, and the Bank," said Eurobank CEO Fokion Karavias. "Having returned to profitability, we prioritize supporting the Greek economy," he added.

    Eurobank Group and IFC have developed a strong partnership through the participation of the Group's subsidiary banks in Romania, Serbia and Bulgaria in the GTFP since 2010. To date, IFC has extended over 1 billion euros in cumulative trade finance support to Eurobank's Balkan subsidiaries and their local customers, helping them tap new markets and commercial partners.

    "Greece has a competitive advantage in international trade with its geographical position as a historical, commercial, cultural and economic crossroads," said Marcos Brujis, IFC Global Director, Financial Institutions Group. "Unleashing Greece's export potential and connecting local companies to international markets can help tremendously to revive the Greek economy and drive development."

    In 2015, at the request of the Greek government, IFC's Board endorsed a selective and temporary IFC reengagement in Greece. IFC became a shareholder in all of Greece's four systemic banks by participating in their recapitalization, acquiring 150 million euros worth of shares to restore financial sector stability and investor confidence, strengthening the banking sector.


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