“Export Oriented” Action by Eurobank EFG and Ε.Τ.Ε.ΑΝ. (National Fund for Entrepreneurship and Development): over 200 million Euros at low interest rates for small-medium sized exporting enterprises.
Εurobank EFG joins forces with the National Fund for Entrepreneurship and Development (Ε.Τ.Ε.ΑΝ.) in providing funding to support dynamic Greek enterprises that have opened up to international markets. It thus confirms its commitment to promoting an outward looking model for the Greek economy as a central lever for returning to growth and overcoming the economic crisis.
Eurobank was selected after a tender process by the Ε.Τ.Ε.ΑΝ. as the financial institution that will implement the “Export Oriented” Action. It will provide 140 million Euros over the next two years in relation to this purpose, to which another 70 million Euros will be added from the Entrepreneurship Fund resources, which has been established as a separate funding unit within the Ε.Τ.Ε.ΑΝ. Hundreds of small and medium sized enterprises will have access to 210 million Euros overall, during a particularly critical juncture. The available resources are targeted to support their outward looking stance and competitiveness and to facilitate the expansion of their business activities into new and/or existing markets.
The loan amount ranges from 50,000 to 500,000 Euros, while the interest rate will be significantly lower than current market levels, due to the Entrepreneurship Fund’s participation, and it will remain stable throughout the entire loan period (from 5 to 10 years).
Expenditure to purchase and install machinery and equipment that will improve the products and services; improve the handling procedures; assure quality and prototyping; the promotion to target markets; the purchase of raw materials, merchandise, packaging and services, are only a sample of the activities that are eligible for funding through the “Export Oriented” Action.
Undertaking the specific Action demonstrates Eurobank’s firm commitment to promote a new and sustainable development model for the Greek economy that is based on export driven entrepreneurship. Eurobank has been advocating innovation and dynamic private entrepreneurship as the only solid foundations for this model from as early as June 2009. Significant other initiatives that the Bank has undertaken and is continuing to implement within this context include the “Go International” (International Business Meetings Program) and the creation of the “Internet Export Portal” (under construction) at www.ExportGate.gr.
Eurobank has achieved a leading position in Greek Exports and has consistently been awarded the best bank in Greece for export-import services over the last six years. Its subsidiary Eurobank EFG Factors has been named the best “Export – Import Factor” in the world for the second year running.