Investments worth ?12 b. will be realized in Greece by 2014, ?7-8 b. of which will be covered by Banks. Mr. M. Salas – President of “Piraeus” Bank - launched a new program yesterday, through which credit worth ? 1.2 b. will be granted for projects related to the environmental protection.

Credit will be awarded in cooperation with the Athens Chambers of Commerce – a business partner of the bank in the field of small and medium business funding, since the beginning of 2009. Mr. Salas noted that many new investment programs are in place, so as to help the Greek economy emerge out of the recession. Furthermore, he added that investments must be directed to new fields of business, like green development for example.

On the same topic, Mr Salas said that a turn to an environmental model of economic development will require an investment in the range of ?45-55 b. by 2020, and will open up 60 000 new employment opportunities. “Piraeus” bank has already approved credit worth ?500 million for environmental protection investments, while currently the board is considering granting credit at more attractive conditions.

It’s worth mentioning that the new type of credit encompasses a wide-ranging portfolio of environmental business projects – renewable energy sources, energy-saving investments, green transportation, recycling, bio-agriculture, countryside tourism and green chemistry.

“Piraeus” bank is at the disposal of every interested party – from small and medium business people to private sector entrepreneurs – for consulting them on the topics of investment opportunities and the especially pre-packaged credit facilities of the bank. Information is also available via the Green Banking branch of “Piraeus”.