VOULIAGMENI, Greece — Germany and Greece signed an agreement Friday aimed at boosting investment in the debt-drowned country.
German Economy Minister Philipp Roesler and Greek Development Minister Michalis Chrisohoidis said the agreement was part of a strategy to help Greece deal with its crisis by helping its economy rebound.
“We believe that Greece can become a very important investment destination,” Roesler said.
Roesler said the agreement sets a legal framework and clears administrative hurdles that aim to impart a “sense of security” to businessmen seeking to invest in the country. He said there was German interest in investing in major infrastructure projects in the country worth $2 billion, including pipeline construction.
Greece’s economy is projected to shrink by 5.5 percent this year as the country struggles to meet austerity targets set as a condition for it to continue receiving funds from a $145 billion package of international bailout loans that are staving off a default.
Greece is said to have enough money to pay pensions, salaries and bondholders through mid-November. International debt inspectors are in Athens evaluating reforms before the next batch of loans, worth $10.5 billion, is released.
