The report of the Pissarides committee proposes:
Government participation in lending through guarantees is preferable to subsidizing interest rates, as guarantees reduce the risk banks take and therefore increase their incentives to lend.
PARTIALLY IMPLEMENTED
Evaluation
The financial products of the Hellenic Development Bank (EDB) provide guarantees for loans as well as subsidizing the loan capital, offering investment loans & working capital, through the Banks participating in the Program.
Therefore, the proposal is assessed as partially implemented.
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