x

Economy

European Bank to Help in the Recovery of Greek Enterprises After the Pandemic

January 12, 2021

ATHENS — The European Bank for Reconstruction and Development (EBRD) is willing to support the Greek government's efforts for the recovery of enterprises after the pandemic crisis, Dimitra Papandreou, principal manager of EBRD and head of the programme of Consultancy Services to Small- and Medium-sized Enterprises in Greece, told the Athens-Macedonian News Agency (ANA) on Tuesday.

The main problems facing Greek SMEs during the pandemic are difficulty in obtaining direct financing of moving capital, delays in the delivery of raw materials and an inability to quickly adapt their operating model to find new customers, for example through e-commerce, Papandreou said, adding: "One of the initiatives we promoted during the pandemic is creation of an e-platform "KnowHow Academy" offering free educational content on facing the crisis, addressed to SMEs, with issues such as customer/supply management, financial management, funding, personnel management and leadership challenges. We continue to be close to the needs of the market, offering consultancy services to Greek SMEs through a network of certified consultants in Greece and abroad. EBRD covers 70-88 pct of the net cost of consultancy work".

"The main change in Greek SMEs is technological transformation. We saw a big increase in demand for e-commerce services. We believe that, although it started as a solution created by the need to deal with the pandemic, it will evolve into a new way of doing business. We expect a relative growth of IT companies and the creation of startups in this sector. EBRD wants to help in this direction," Papandreou said.

The EBRD's principal manager noted that 80 pct of enterprises participating in its programmes raised their turnover by an average 19 pct, 80 pct raised exports by more than 9.0 pct and a 62 pct raised their workforce by an average 16 pct.

Papandreou noted that the EBRD was working to cover the needs of enterprises around the country and stressed that more than 70 pct of its customers were based outside Attica.

 

RELATED

NICOSIA — The European Union has earmarked 657 million euros ($736 million) for the construction of a a 2,000-megawatt undersea electricity cable that will link the power grids of Israel, Cyprus and Greece, Cypriot Energy Minister Natasa Pilides said Thursday.

Top Stories

Associations

ASTORIA – The Pancyprian Choir of NY held its first meeting of 2022 and shared best wishes for the New Year with their annual cutting of the traditional vasilopita at Dionysos Taverna in Astoria on January 24.

Associations

BRONX, NY – In a festive atmosphere, the traditional cutting of the vasilopita was held by the Northern Chios Society of Pelineon Agia Markella in the community hall of Zoodohos Peghe Greek Orthodox Church in the Bronx on January 23.

Society

ATHENS – A major snow storm that had been predicted for days still caught residents in Greece offguard and the New Democracy government scrambling for answers as to why motorists were stuck for hours on major roads.

Video

Democrats Eye Supreme Court Pick to Revive 2022 Prospects

Democrats stung by a series of election year failures to deliver legislative wins for their most loyal voters hope they'll be buoyed by the prospect that President Joe Biden will name the first Black woman to serve on the Supreme Court.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.