GREECE > The European Bank for Reconstruction and Development, APS Delta, Balbec Capital and the IFC will jointly invest 50 million euros ($57 million) in a portfolio of unsecured sour loans originated by Greece’s Piraeus Bank

EBRD logo According to European Bank for Reconstruction and Development (EBRD), EBRD, APS Delta, Balbec Capital and IFC will jointly invest $57 million in portfolio of unsecured sour loans originated by Greece’s Piraeus Bank Greece banks are struggling with highest ratio of non- performing exposures (NPEs) in Europe because of the seven year debt crisis. Piraeus Bank which is also Greece’s largest More …

GREECE > US based Philip Morris to invest $320Mn in smoke-free product manufacturing facility in Greece

Philip-Morris-logo_Lithuania-success-stories USA based Philip Morris International is set to invest around €300Mn ($320.79Mn) to convert the cigarette factory of its subsidiary-Papastratos in Greece, into a manufacturing plant for the tobacco sticks to be used with its smoke-free product IQOS. According Philip Morris these tobacco sticks are currently commercialized as Heets or HeatSticks. As per Philip Morris press release, the investment will create around 400 new jobs at More …