YEREVAN, September 13. / ARKA /. The European Investment Bank began immediate allocation of up to 750 million euros ($966 million) to the crisis-hit Greek economy, RIA Novosti reported citing the Greek finance ministry.

The agreement was signed earlier Thursday by EIB president Werner Hoyer during a visit to Athens and the Greek Finance Minister Yannis Stournaras. The money will be invested in various sectors such as energy, education, transport and small businesses.

The ministry said small businesses will absorb about EUR440 million from the total package.
"This is an important movement that brings money into the real economy at a time when liquidity crunch has caused suffocation in the market," Mr. Stournaras said.

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Armenian banks will take part in the banking investment forum to be held in Los Angeles on September 25, Ashot Osipyan, chairman of the Union of Armenian Banks, said Friday at a news conference.

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