Investor confidence in Greece has improved significantly, EBRD chief Chakrabarti says

Investor confidence in Greece has improved significantly lately, EBRD president Suma Chakrabarti said in an interview with the Athens-Macedonian News Agency (ANA), adding that he is much encouraged by the Greek authorities' readiness to render the business environment in the country more investor-friendly.

He added that the former Elliniko airport is a flagship project, whose successful promotion will show potential investors that things are changing in Greece. However, he noted that the country can and must do more to attract investment, such as reducing administrative burdens and cutting down on bureaucracy.

Chakrabarti also hopes that the positive course of reforms will continue and expressed the belief that Greece has all the guarantees to become a successful economy and play a leading role in the Balkan region. Regarding possible risks to the Greek economy in the post-memorandum era, he referred to the negative effects of a global slowdown, which could affect export growth.

Asked about bad loans, he said that he is confident Greek banks have made significant progress in reducing them.