Energising telecommunications in Greece
A €389 million financing package arranged by the EBRD for OTE, the leading telecommunications operator in Greece, will support the company’s ambitious investment plans, including the development of next-generation networks chiefly targeting regions with relatively low broadband coverage.
The EBRD provided €150 million as part of a €339 million syndicated loan, which supported the re-opening of the loan syndications market in Greece and is aimed at helping the country return to growth. In parallel, the Black Sea Trade and Development Bank provided a €50 million loan to OTE.
In 2015 the EBRD started investing in Greece on a temporary basis to support the country’s economic recovery.