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GreeceBusinessGreek FinMin Staikouras calls for expansion of credit to enterprises

Greek FinMin Staikouras calls for expansion of credit to enterprises

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It is the responsibility of the state and of banks to work to widen the base of possible borrowers, Finance Minister Christos Staikouras said on Wednesday.

Speaking in Parliament during a discussion on boosting liquidity to the real economy, Staikouras said this could be achieved by offering incentives to small-sized mergers and acquisitions to create larger enterprises; debt settlements to allow enterprises and households to return to normality; promoting micro-credit to support alternative funding channels; and boosting financing through a rapid exploitation of the Recovery Fund.
Referring to banks, the Greek Finance Mininister said: “They are responsible for upgrading their systems and making a better assessment of investment plans and expanding the perimeter of possible borrowers.”

Staikouras urged banks to upgrade their systems of data and information collection, quantitative and qualitative, to be able to analyse deeper Greek enterprises, to identify more sustainable enterprises and to price in credit risk with more accuracy

SOURCE: AMNA

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