ANNOUNCEMENT 22 Dec 2016

In December 2016, the European Investment Bank (EIB) introduced a financing programme to support Greek small and medium-sized enterprises (SMEs) and mid-caps in various sectors.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, GREECE BANKS LOAN FOR SMES AND MIDCAPS I: http://www.eib.org/en/projects/loan/loan/20150035
The European Investment Bank, Project summary, Project No. 20150035, Greece Banks Loan for SMEs and Mid-caps I: http://www.eib.org/en/projects/pipelines/pipeline/20150035
The European Investment Bank, press release of 27 June 2018, Greek companies to benefit from new EUR 400 million leasing finance scheme following successful EUR 1 billion lending programme: http://www.eib.org/en/infocentre/press/releases/all/2018/2018-167-greek-companies-to-benefit-from-new-eur-400-million-leasing-finance-scheme-following-successful-eur-1-billion-lending-programme

Inception date: 22 Dec 2016 | Removal date: open ended

State loan

The European Investment Bank's (EIB) financing programme was introduced in December 2016 and has a total value of EUR 1.05 billion (approx. USD 1.1 billion). Under the programme, the EIB will provide loans to commercial banks and leasing companies located in Greece for the exclusive of projects carried out by Greek small and medium-sized enterprises (SMEs) and mid-caps. SMEs and mid-caps in the following sectors benefit from the financing programme: manufacturing, wholesale, retail trade, tourism, agri-business, agriculture, fishing, education, health, transport, energy, communications and construction. Financing of mid-cap companies is limited to a maximum of 30% of all financing.

The first four loan agreements under the scheme were signed on 22 December 2016 having a total value of EUR 300 million. A total of eleven loan agreements have been signed under the programme to date.

In this context, the European Investment Bank stated: "The intermediated lending programme launched in December 2016 and implemented in co-operation with Alpha Bank, Eurobank, Pancretan Cooperative Bank and Piraeus Bank, has already enabled more than 660 companies to expand activities and enter new business markets. Ensuring improved access to finance by firms employing 69,000 people is also helping to create new jobs."

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.

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