The European Bank for Reconstruction and Development (EBRD) has invested an aggregate of 445mln Euros in the Greek economy to date, with a large sum channeled to the 4 systemic banks of the country and other portions funneled into the fuel industry and telecommunications.

Director of EBRD for Greece and Cyprus, Sabine Djurman told Proto Thema weekly newspaper that the new development law voted in by the current government did provide some sense of reassurance for investors interested in entering the Greek market. He added that the high tax regime, which could act as a deterrent for investors in Greece, was a temporary measure as Greek Deputy Minister Dimitris Mardas had told him.

‘As far as Foreign Direct Investment (FDI) is concerned, the new Development law provides some certainty on the tax regime which does provide comfort to new investors. Greece has other advantages which may compensate: The country has strong potential in a number of sectors such as agribusiness, tourism, pharmaceuticals, ITC and logistics’, said Djurman.