Eurobank is the first Greek bank to sign an agreement with the European Investment Fund (EIF) for its participation in the new guaranteed programme SME Competitiveness, with a total maximum budget of €250 million, under the InvestEU Fund.
The new Program, which is already available through Eurobank from January 23, 2023, aims at SMEs so that they will cover working capital needs and/or implement investment projects to improve their competitiveness. Under EIF’s guarantee, which covers part of the financing, all eligible companies can access liquidity with reduced collateral requirements. Eurobank also offers further reduced interest rate margin on financing provided through the program, supporting Greek companies to the maximum possible extent, especially in the current period of rising interest rates in Europe.
EIF CEO, Marjut Falkstedt, stated: “We are delighted to build on the long-standing relationship with our Greek partners to help local SMEs overcome the financial constraints they are facing. Better access to finance is vital for Greek businesses and entrepreneurship in the country in general. This new €250 million agreement under the InvestEU programme, will give local businesses preferential access to the resources they need in order to implement investments in climate action, energy efficiency and renewable energy, to enhance their competitiveness and to support their digital transformation.”.
Eurobank’s Deputy Chief Executive Officer, Mr. Andreas Athanassopoulos, stated: “The new agreement with EIF and our participation in the new guarantee program for Greek SMEs highlights our steady commitment to actively support domestic entrepreneurship. We wish to contribute substantially so that Greek SMEs will be able to win the competitiveness bet and participate in the investment and growth cycle of our economy on favorable terms, making the most of the available European and national funds, that constitute a powerful driver for growth.”.
The amount of funding per company depends on its transactional cycle and each company’s business requirements. Financing will be granted in the form of a loan with a duration from one (1) to ten (10) years repayable in monthly or quarterly instalments.
More information on the terms and conditions of the program, at the page of the InvestEU SME Competitiveness Programme at www.eurobank.gr, and/or at Eurobank's network branches.
The provided financing benefit from the support of the European Union through the InvestEU Fund._