Bank of Greece governor Yannis Stournaras on Tuesday said there were encouraging signs from the development of micro-funding in Greece.

Addressing an event on the institution of microfinance and the outlook for the Greek market, the central banker said that despite any problems and failings, the institution could provide an assistance to national, European and global efforts to fund economically weak individuals and very small enterprises, combating poverty, boosting incomes and living standards, reducing unemployment and promoting growth.

"Micro-funding is one of the few available tools for anyone excluded from the banking system, including very small enterprises," Stournaras said, adding that it could help - to an extent - to ease a climate of economic uncertainty prevailing globally because of high inflation and existing geopolitical risks.

According to available figures, the value of micro-funding portfolios in Europe was 4.3 billion euros in 2021, up 9% from the previous year.