€260 million total support for SMEs: Eurobank and EIF agreement to extend their cooperation in the context of COSME program | Eurobank
Choose Language Top Menu Main Menu Extra Button Menu Page Contents Footer Search

The European Investment Fund (EIF) and Eurobank signed the extension of their initial agreement, in the context of the COSME program. With the additional €130 million of the new agreement, the maximum amount of funding for very small, small and medium sized companies is €260 million in total.

The COSME program (with a total budget of €2.3 billion for the period 2014 – 2020) aims at improving the competitiveness of companies, especially small and medium sized ones (SMEs). In particular, the new financial tool, COSME Loan Guarantee Facility, provided in the context of COSME program, offers guarantees to the financial institutions so that they increase their financing to SMEs with reduced collateral requirements.

In the context of the COSME program, Eurobank and EIF signed, in September 2016, an initial agreement for €130 million that were given for financing 1379 SMEs.

The extension of this agreement, signed recently, doubles the funds that Eurobank can grant in the context of the COSME program and affirms Eurobank’s policy to, continuously, support, Greek entrepreneurship. Through its participation in COSME, Eurobank shall continue to provide funding to selective SMEs so that they cover their needs for working capital and investment in fixed and intangible assets, with reduced collateral requirements, providing at the same time additional, preferential pricing terms.

Providing this funding is possible through the guarantee given by COSME and by the European Fund for Strategic Investments (EFSI) which was created in the context of the investment plan for Europe. EFSI aims to contribute to financing and implementation of productive investments in the European Union, while securing increased access to financing.

For additional information about the terms of the program and the specific conditions for participating in it, interested parties can address Professional Consultants in Eurobank branches or EuroPhone Banking for companies: 210 9555222.

DOWNLOAD this Press Release