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3 years of Moving Family Forward initiative

Eurobank is offering a new mortgage loan with a fixed interest rate of 1% for the entire loan term to families that wish to purchase, construct, repair/renovate their main residence, have at least three (3) children and live permanently in the Greek border areas targeted by the Bank’s Moving Family Forward initiative, which is being developed since 2021 to address the demographic issue. The launch of the new, particularly favourable, mortgage loan was announced today by Eurobank’s Chief Executive Officer, Mr Fokion Karavias, during his speech at the DEMOGRAPHIC 2024 – A NATIONAL PRIORITY summit, in the presence of the Greek Prime Minister, Mr Kyriakos Mitsotakis.

Given that the cost of housing is one of the greatest problems for Greek modern families, especially large ones, with a negative effect also on demographics, Eurobank broadens the scope of its actions to address this challenge and facilitates the purchase, construction, repair/renovation of privately-owned houses that are main residences for families with at least 3 children living in areas of Eastern border Greece. Eurobank’s  new, specially designed mortgage loan is being offered on, particularly, favourable terms:

  • Fixed interest rate of 1.00% for the entire loan term, whichis up to 40 years.
  • Financing for up to 90% of the commercial value of the property for borrowers who have not received another mortgage loan. The financing is to be used to purchase, construct , repair/renovate a A’/Main Residence for families with at least 3 children who reside permanently in the Regional Units (RUs) of the programme, specifically: Evros, Limnos, Lesvos, Chios, Samos, Ikaria, Kalymnos, Kos, Karpathos, Rhodes up to Kastellorizo.
  • In the event of constructing and repairing/renovating, the financing may amount to up to 100% of the cost of works.
  • Eligible families will also benefit from free engineering inspection and due diligence / loan approval fees.

Public policies and the public sector’s role were analysed in a discussion session between the Minister of Social Cohesion & Family, Ms Sofia Zacharaki, and Mr Fokion Karavias, moderated by the journalist Mr Nikos Chatzinikolaou. During the discussion, the Minister noted: “The demographic issue is a national challenge. Following several months of work, we are finalising a holistic strategy to address it, after an extensive, substantial dialogue with involved stakeholders and the scientific community, having evaluated best international practices, and studied the causes of the phenomenon in depth. The survey on low birth rates presented today provides us with significant insight to understand social perceptions and the directions for our policies so that they will prove effective and substantial. I would like to thank all participants in this effort.”

Eurobank’s CEO, Mr Fokion Karavias, said: “Greece is acquiring a holistic policy for the demographic issue, recognising its broader significance as a social, economic and national priority. This development is an achievement for the country. Eurobank has been contributing to addressing the major demographic challenge by developing the Moving Family Forward Programme over the past three years. Today, we broaden the scope of our initiative, adopt the Prime Minister’s new announcement in action, and proceed with our decision to lend, on exceptionally favourable terms, to families with at least three children so that they can acquire their first residence in Eastern border Greece. Eligible families will have access to our new mortgage loan with a fixed interest rate of just 1% for the entire loan term, which is up to 40 years, ensuring that the monthly instalment, approximately €250-300 for a €100,000 loan, shall remain low and stable. Additionally, upon the birth of a third child, we are extending maternity leave from 9 to 12 months for our Bank employees, further underscoring our commitment to addressing this major national issue.”

The discussion session was followed by an award ceremony organised for the robotics team of primary-school students from the remote island of Agios Efstratios. This team was created by their robotics teacher, Mr Antonis Makris, in the context of Eurobank's Moving Family Forward Programme. The robotics team participated in a multinational competition for the first time and was awarded the gold medal in the sport of Archery, competing with representative teams from eleven (11) countries, at the 3rd Robotsports Competition Global Olympiad held in Crete. The award ceremony was conducted by the Minister of Social Cohesion & Family, Ms Sofia Zacharaki, and the Eurobank CEO, Mr Fokion Karavias.

Commenting on the findings of the survey on low birth rates – funded by Eurobank – Mr Stratos Fanaras, President and CEO of Metron Analysis SA, stated, “The survey indicates that the problem of low birth rates has deep roots. Among the most interesting findings is that although low birth rates and the demographic issue are considered major threats for our country, younger people do not rank having children as their priority and focus more on their effort for social advancement and financial comfort. The gap between the actual and ideal number of children suggests that there is a window of opportunity to promote childbearing. This, however, presupposes addressing the main obstacles to having children, which are related both to the financial status of couples and the State support mechanisms, as well as with the need for achieving a new balance between work and personal life.”

The Vice President of the European Commission for Democracy and Demography, Ms Dubravka Šuica, greeted the conference online, while the Minister of Culture, Ms Lina Mendoni, and the Deputy Minister of Foreign Affairs, Mr Giorgos Kotsiras also gave short speeches.

The National Policy on Demography was analysed in a discussion among the General Secretary for Demography and Housing Policy, Ms Marina Stefou, SYRIZA MP, Ms Katerina Notopoulou, the Eurobank Group General Manager of Marketing & Corporate Communications, Mr Michalis Vlastarakis, the Professor of Economics in the Department of Economic and Regional Development at Panteion University, Ms Antigone Lyberaki, and the Professor in Demography Economics at Harokopio University, Ms Alexandra Tragaki. The discussion was moderated by the journalist Mr Foivos Karzis.

More on the new mortgage loan here (available only in Greek).

Watch the relevant video Eurobank | Small islands – Big dreams on Agios Efstratios (available only in Greek).


2021 – 2024 | Reviewing the Moving Family Forward Initiative

Partnership with the Be-Live NPO.

  • A total of 36 babies have been born across Greece, 19 of which in the eastern borders of the country, supported by Eurobank in providing free IVF treatments – based on strict medical, social and financial criteria
  • 15 informational events on infertility and IVF have been held in Ikaria and Fournoi, Kastellorizo, Kos, Mytilene and Kalloni, Nisyros, Orestiada and Alexandroupoli, Limnos and Agios Efstratios, Samos, Chios and Oinousses.

Job creation programme in remote border areas

Creation of jobs for working remotely at EuroPhone Banking for permanent residents of Evros and the islands of the Northern Aegean (Lesvos, Chios, Samos, Lemnos). To date, 75 such positions have been created.

Enhancing public dialogue

  • A study on the Demographic Issue in Greece: Challenges and Policy Proposals, was funded by Eurobank and conducted by esteemed scientists from the Foundation for Economic & Industrial Research (IOBE).
  • Qualitative and quantitative survey on low birth rates in Greece, funded by Eurobank and conducted by Metron Analysis. The survey highlighted that low birth rates are due to many factors, such as modern economic and social conditions, priorities, and values. Although the average number of children among the survey participants is one, the ideal number of children for these individuals would be 2-3 on average, a difference that indicates there is potential for combating low birth rates in the country.

Partnership with Apostoli, the charity and development organisation of the Archdiocese of Athens

  • A total of 823 baby packages containing essentials for a baby's 1st year have been distributed in the areas covered by the programme.
  • Educational staff have been assigned to municipalities of small islands, specifically a Speech Therapist on Oinousses, a Music Teacher on Kastellorizo and a Robotics Teacher on Agios Efstratios, to meet educational needs alongside the public-school curriculum.
  • Eurobank supports the operation of the fully renovated Lela Karagianni Children's Multi-Purpose Venue for recreational activities. Currently, 58 children aged 5-12 participate in recreational activities at the multi-purpose venue, with the aim of helping them improve their knowledge on the Greek language, preparing them for primary-school classes and having them participate in artistic activities, while also providing parental counselling services.

Partnership with the Together for Children Association

A total of 26 seminars, both in-person and online, were conducted on issues concerning the modern family, with more than 400 parents in remote areas attending. Additionally, more than 5,000 parents reached out to the nationwide 11525 helpline for advice on these topics.

Socially targeted bancassurance products

Parents with children up to one year old living in Evros, the Northern Aegean islands and the Dodecanese are offered a range of socially targeted bancassurance products at favourable terms. These include free health insurance for children for their first two years of life, benefits for new families when they save and an additional 10% €pistrofi cashback when purchasing baby items.

Employee support

The Group implements a series of initiatives and actions to support its employees, endorsing all modern forms of family.

More about the Moving Family Forward programme here.

From left to right: Mr Nikos Chatzinikolaou, Mr Kyriakos Mitsotakis, Mr Fokion Karavias.

Discussion between the Minister of Social Cohesion & Family Affairs, Ms Sofia Zacharaki, and the Eurobank CEO, Mr Fokion Karavias.

The students from the Agios Efstratios Robotics team received the Gold medal at the Educational Robotsports Competition Global Olympiad.