EIB Ready to Invest into Viable Greek Projects – Bank President

© AFP 2023 / EMMANUEL DUNANDEuropean Investment Bank (EIB) President Werner Hoyer
European Investment Bank (EIB) President Werner Hoyer - Sputnik International
The European Investment Bank (EIB) is ready to invest in the Greek projects, according to the bank's president Werner Hoyer.

European Investment Bank President Werner Hoyer addresses the media during the European Investment Bank annual press conference at the European Council building in Brussels - Sputnik International
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BRUSSELS (Sputnik) – The European Investment Bank (EIB) is ready to review the possibility of financing viable new projects in Greece, but does not consider any viable at the moment, the bank's president Werner Hoyer said Monday in a press conference.

"One has to be clear – if there are good projects, viable, economically viable and sustainable projects we are ready to check it, but this is a problem also in Greece, we need good projects," the president said.

According to Hoyer, the EIB needs the trust of its investors as projects get refinanced by worldwide market capitals, hence it cannot be involved in any weak projects.

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"Therefore, we are ready to address the issue but so far I don't see more projects," Hoyer stated.

The president of the bank expressed hope that "the process that has been given a new chance on Friday will lead to tangible results over the next four months."

On Friday, Greece liberated itself of the bailout memorandum by its international creditors, agreeing on a four-month reform program.

Greece currently owes around $270 billion to the troika of creditors comprising the European Union, the European Central Bank and the IMF. The country's newly elected Syriza party promised to renegotiate the highly unpopular austerity measures, aimed at meeting the bailout conditions.

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