Signature(s)
Summary sheet
- Credit lines - Credit lines
A loan to the Hellenic Republic whose proceeds will be invested in financial instruments set up by the Hellenic Development Bank with the aim to support small and medium-sized enterprises (SMEs) and mid-caps' liquidity needs as a response to the COVID-19 crisis.
Financing of working capital loans to SMEs and mid-caps in order to face the lockdown consequences caused by the COVID-19 outbreak.
The COVID-19 impact will be particularly difficult to bear for SMEs and Mid-Caps located in cohesion regions in Greece with information asymmetries and screening costs being further exacerbated, thus amplifying the crisis and feeding the negative spiral in the real economy. To this effect the proposed operation will facilitate access to SMEs and Midcaps financing with significant transfer of financial advantage whereas, by providing the necessary liquidity, it is expected to contribute to preservation of jobs, which otherwise might be lost. EIB contribution is mainly attributed to the relatively high Financial Value Added, as well as to the additional co-financing to be originated by local banks, thus crowding in the Greek financial sector. The EIB contribution is also expected to be significant in the context of assisting the Hellenic Development Bank to set-up the instrument(s) and accelerate the implementation of this operation.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
This operation is subject to approval by the EIB's governing bodies.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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