EBRD extends financing to Piraeus, Alpha bank subsidiaries

The EBRD signed yesterday three credit lines worth a total of EUR 200 M with subsidiaries of Piraeus Bank in Romania, Bulgaria, and Albania for on-lending to businesses in their respective countries, a press release informs. Under the project Piraeus Bank Romania will receive EUR 90 M, Piraeus Bank Bulgaria will receive EUR 70 M, and Tirana Bank will get EUR 40 M of new funding from the EBRD. This package of loans, to be provided in two equal tranches, is part of the Joint International Financial Institutions Action Plan and follows other similar facilities offered to the subsidiaries of the major Western European strategic banking groups engaged in the region over the past 18 months. EBRD also signed two credit lines worth a total of EUR 200 M for subsidiaries of Alpha Bank Group, Alpha Bank Romania and Alpha Bank Serbia, helping to increase the availability of financing for private businesses in the two countries.

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