Athens, Greece, February 8, 2017—In
his first official visit to Greece, Tomasz Telma, IFC’s Regional Director
for Europe and Central Asia, will meet with government officials, business
leaders, and representatives of international financial institutions to
discuss the challenges and opportunities facing the country's private sector.
The three-day visit, which runs from February
8-10, is part of an effort by IFC to support Greek businesses, which can
play a central role in creating jobs, driving innovation, and spurring
economic growth. IFC is a member of the World Bank Group and the largest
global development institution focused on the private sector in emerging
markets. In 2015, the institution made the decision to temporarily re-engage
in Greece, with the objective of restoring investor confidence and mobilizing
investments to promote economic growth and job creation.
“With its recent macro-economic and structural
reforms, Greece is taking important steps to rekindle economic growth,”
said Telma. “The changes will help unleash the potential of the country's
private sector, which can be a powerful source of innovation and job creation.”
During his visit, Telma will meet with senior
representatives of the Greek government and international financial institutions
operating in the country. Telma will also announce agreements with private
sector companies designed to support infrastructure development and boost
Since IFC's re-engagement in Greece in 2015,
it has invested investing $240 million in 5 long term finance projects.
IFC has also provided US$280M in trade finance facility limits under its
Global Trade Finance Program to leading Greek banks.
Greece has graduated from the World Bank
Group's standard lending programs. In 2015, at the request of the Greek
government, IFC’s Board of Governors endorsed a time-bound IFC engagement
in the country. IFC continues to evaluate investment opportunities in financial
services, infrastructure development, and other sectors. Its aim is to
restore confidence for investors, support private-sector-led growth, help
the country attract foreign investment, and promote domestic investments.
IFC has a growing relationship with Greece’s
private sector, with an exposure of nearly €640 million in Greek financial
institutions and companies operating outside the country. IFC has been
a long-term partner of Greek companies and financial institutions, mainly
through continued support to subsidiaries of Greek banks in Eastern and
Southeastern Europe, and has helped Greek companies expand into emerging
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with 2,000 businesses worldwide, we use our
six decades of experience to create opportunity where it’s needed most.
In FY16, our long-term investments in developing countries rose to nearly
$19 billion, leveraging our capital, expertise and influence to help the
private sector, end extreme poverty and boost shared prosperity. For more
information, visit www.ifc.org