Onassis Foundation Gives 30M Euros for Investment

Onassis Foundation President Antonis Papadimitriou

ATHENS – The Onassis Foundation is expected to contribute the sum of 30 million euros to the Hellenic Investment Fund, it was reported after a meeting between Prime Minister Antonis Samaras and the foundation’s President Antonis Papadimitriou.

Also attending the meeting was Development Minister Costis Hadjidakis. Talking to reporters, Samaras welcomed the foundation’s support, saying the contribution would help provide critical liquidity and was a vote of confidence in the staggering economy.

Papadimitriou noted that the investment fund was the “best tool” with regard to achieving growth and the creation of employment through the reinforcement of small and medium sized enterprises.

“The Onassis Foundation is glad to be the first organization, the first private organization, to contribute to the Fund, in the hope that the country and the economy will progress,” said Papadimitriou.

Samaras has been wooing investors from the U.S. to China in a frantic bid to bring in new monies to boost an economy that’s on life support with rescue loans from international lenders.

Successive governments have been relying on harsh austerity measures in an effort to reduce the debt but Samaras said growth is an equally critical tool to emerging from a six-year-long recession. Greek banks have severely cut back lending to businesses and entrepreneurs.