The US Congress has given a strong vote of confidence in ONEX Group and Elefsina Shipyards by approving the financing of the Greek shipyards with $125 million.

In a historic decision for Greece, the US Congress approved the proposal of the US Development Bank – U.S. International Development Finance Corporation (DFC) – to proceed with the financing, through lending, with the amount of $125 million to ONEX Shipyards for the Restructuring Plan of Elefsina Shipyards in Greece.

The US Congress decision certifies, on the one hand, the high value and solvency of ONEX and its owner Panos Xenokostas, as well as the importance of Elefsina Shipyards for the American Group, as ONEX states in its announcement.

On the other hand, the historic decision highlights the strong ties of cooperation between the United States and Greece and the multidimensional geopolitical importance of Onex Shipyards venture in the Eastern Mediterranean.