EIB agreed € 15m lending facility to Greek Cooperative Bank for supporting SMEs

The European Investment Bank (EIB) agreed a lending facility worth € 15m to the Greek Pancretan Cooperative Bank for supporting smaller entrepreneurial activity in the island of Crete and in the country.
Since 2007, EIB and Pancretan Cooperative Bank have signed three agreementsc and through this cooperation € 60 million have been channeled to the Greek market, mainly in the sectors of SMEs and local authorities. 
The Pancretan Cooperative Bank is the largest cooperative organisation in Greece and provides retail and commercial banking with a strong orientation towards SMEs in the fields of industry, business services and tourism. Created in 1994, it is currently controlled by more than 77,000 individual shareholders and operates mainly on the island of Crete. 

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