ANNOUNCEMENT 28 Jun 2017

In June 2017, the European Investment Bank (EIB) introduced the Trade Finance Facility 2.0 to support import and export activities by small and medium-sized enterprises (SMEs) and mid-caps in Greece.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

European Investment Bank, press release of 28 June 2017, EIB activates new EUR 400m Trade Finance Facility for Greece to help boost international trade by Greek companies: http://www.eib.org/en/infocentre/press/releases/all/2017/2017-166-eib-activates-new-eur-400m-trade-finance-facility-for-greece-to-help-boost-international-trade-by-greek-companies.htm

Inception date: 28 Jun 2017 | Removal date: open ended
Still in force

Trade finance

The European Investment Bank (EIB) introduced the Trade Finance Facility 2.0 on 28 June 2017 and has a total value of EUR 400 million (approx. USD 454.5 million). Under the Trade Finance Facility, the EIB will provide guarantees for various trade and export finance instruments issued by Greek banks to small and medium-sized (SMEs) and mid-caps in the export-import sector. Such trade and export finance instruments include letters of credit and financial guarantees. The EIB Facility will additionally "guarantee performance bonds issued on behalf of Greek companies". Greek SMEs and mid-caps can receive support for their trade and export transactions for a maximum tenor period of three years.

In this context, the European Investment Bank Vice-President Jonathan Taylor stated: "International trade can make a key contribution to strengthening economic activity across Greece. This second Trade Finance Facility will help Greek companies to compete and win new business on international markets".

The first EIB Trade Finance Facility was introduced in June 2013 and ended in December 2016, see related state act.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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