BoG Theodore Mitrakos: Greece needs to attract investments

A crucial factor in a new page opened by the Greek economy is to take advantage – as soon as possible – of positive developments and to create the conditions for a significant increase in investments, particularly those related with export activity, innovation and boosting employment, Theodore Mitrakos, deputy governor of the Bank of Greece said on Tuesday.

Addressing a conference of the Association of Cooperative Banks of Greece, Mitrakos said the state, through a National Growth Strategy, has pledged to promote the necessary interventions to create a strong positive footprint on the economy and to protect vulnerable social groups at the same time. In this framework, the banking system must contribute, within its powers, in efforts towards a recovery of investments through the financing of healthy business projects and an efficient management of non-performing loans. The role of cooperative banks in this effort remains very important for local societies and for the Greek economy in general, he noted, adding that for cooperative banks to engage successfully in new financing projects they need financial and capital strengthening first.

Source ANA-MPA
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