Stathakis discussed creation of Greek Development Bank with Wold Bank delegation
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Discussions on the creation of the Greek Public Development Bank have started and will accelerate after Christmas, Economy Minister Giorgos Stathakis said on Wednesday after a meeting with a delegation from the World Bank.
The Greek side requested the participation of the International Finance Corporation (IFC) in the recapitalization of Greek lenders as well as the provision of technical help to Greece from the World Bank concerning logistics and the welfare system. It also raised the question of the use of EU financial instruments and policies and the political extroversion of the Greek economy.
On the side of the World Bank, Patrizio Pagano, the World Bank Group’s Executive Director for Italy, Albania, Greece, Malta, Portugal, San Marino and Timor-Leste, said the IFC intends to support the country’s four systemic banks during recapitalization, so as to increase liquidity and open the way for new investments.
“We’re here because we want to develop our cooperation with Greece further and help the country deal with the challenges it faces, realize its potential and return to growth,” Pagano said. “The World Bank offers technical help to the government in the areas of competitiveness, growth and social welfare. Additionally, our governing board has adopted the IFC’s decision to work in Greece selectively and on a temporary basis, in order to restore the trust of investors and act as a catalyst for the activation of new investors from the private sector,” he added.