ANNOUNCEMENT 21 May 2019

In May 2019, the European Investment Bank (EIB) signed a credit line agreement with a number of banks operating in Greece to support small and medium-sized enterprises (SMEs) and mid-cap companies. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, LOAN FOR YOUTH EMPLOYMENT & FEMALE EMPOWERMENT: https://www.eib.org/en/projects/loans/all/20180852
The European Investment Bank, Project summary, LOAN FOR YOUTH EMPLOYMENT & FEMALE EMPOWERMENT: https://www.eib.org/en/projects/pipelines/all/20180852

Inception date: 21 May 2019 | Removal date: open ended

State loan

The European Investment Bank (EIB) approved a credit having a total value of EUR 500 million (approx. USD 558.3 million). Under the credit line, the EIB has signed a number of loan agreements on 21 May 2019 and later on 3 June 2019 with Piraeus Bank S.A., Eurobank Ergasias S.A., Pancretan Cooperative Bank Ltd, ALPHA BANK A.E. and the National Bank of Greece S.A. among others.

The credit line will, through the Greek operated bank, support small and medium-sized enterprises (SMEs) and mid-cap companies with a focus on "youth employment and women's empowerment at workplace".

According to the EIB: "This project will improve access to term finance for SMEs and mid-caps in Greece, support youth employment and facilitate the empowerment of women at workplace."

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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