US International Development Finance Corporation

On Monday Scott Nathan, the CEO of the US International Development Finance Corporation, or the DFC,  signed a financing agreement for a $125 million loan to ONEX Elefsis Shipyards and Industries to rehabilitate and modernize the Elefsina shipyard near Athens.

A financial agreement for a $125 million loan to ONEX Elefsis Shipyard and Industries (ONEX) was signed by the US International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan on Monday to rehabilitate and modernize the Elefsina shipyard near Athens.

Labor Minister Adonis Georgiadis announced on Saturday that ONEX Shipyards and the US International Development Finance Corporation (DFCgov) will formally sign their agreement for the funding of the streamlining plan of Elefsis Shipyards with over $100 million on Monday, in Elefsina.

"The renaissance of the shipbuilding industry in Greece is now a reality," he said. 

The US Congress has approved financing through borrowing for ONEX Shipyards to carry out the consolidation plan for Elefsis Shipyards.

The US International Development Finance Corporation (DFC), America's development bank, will provide the amount of $125 million.

This financing will be the first so far from DFC for Greece.

The US International Development Finance Corporation's (DFC) participation in Elefsis Shipyards is currently at $125 million, Development and Investment Minister Adonis Georgiadis said this week.

On today's episode we explore the work that the US International Development Finance Corporation - or the DFC - is doing in Greece and the Western Balkans, and how it is an important tool for the US to counter efforts by China and Russia to make inroads into this region.