Greek Firms Will Receive German Aid of 100 Million Euros

The Greek Finance Ministry reported on Tuesday that the German state will help small and medium-sized Greek firms secure access to funding by making available 100 million euros in loans. These loans will help develop a Greek fund with 500 million euros that will boost the country’s economy.  One hundred million each will be provided by both Germany and Greece.The German state-run development bank, KfW will provide the loans through Greek banks to Greek small and medium-sized enterprises (SMEs). “The reform efforts are beginning to bear fruit. Now growth conditions in Greece have to be improved. Especially small and medium-sized companies must be able to finance themselves better,” stated the German Finance Minister, Wolfgang Schaeuble. The German Chancellor Angela Merkel, during a visit to Athens, Greece in April, met with representatives of Greek start-up companies and promised that Germany would support a Greek fund.

READ THE ORIGINAL POST AT greece.greekreporter.com