Loan agreement with the European Investment Bank (EIB) | Eurobank
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Loan agreement with the European Investment Bank (EIB)

Eurobank EFG has signed today (Wednesday 18 October 2006) a loan agreement with the European Investment Bank (EIB) for a total of € 50 million for the joint financing of infrastructure projects to be contracted by local authorities throughout Greece.

The purpose of this loan is to secure the funds that will be provided by the EIB and Eurobank EFG and will be used for the financing of infrastructure projects of local authorities (municipalities, communities, regional government). The projects to be financed include in particular road construction and general transport infrastructure, social, sports and tourist facilities, water supply and sanitation projects, parking spaces, municipal and regional administration buildings, environmental infrastructure, urban regeneration, etc.

The objective of the European Investment Bank, the European Union’s financing institution, is to finance projects that contribute to the balanced development and economic and social cohesion of EU Member States.

Eurobank EFG is the first Greek bank with which the EIB has concluded such an agreement to finance local government infrastructure projects.

The agreement with the European Investment Bank falls within Eurobank EFG broader involvement in local government.

Specifically, the Bank has established a special “Directorate for Relations with Local Government” staffed by people who have a lot of experience and specialized knowledge and offers a comprehensive range of products and services such as loans, leasing, cash management, payroll, automated collection and payment, support to real property development and partnerships with the private sector.

With extremely interesting terms, speed and flexibility, Eurobank EFG can provide customized support to each local authority in meeting its borrowing and other related requirements and capitalizing on the latest financial instruments.