BUSINESS

EIF signs guarantee deal with Bank of Karditsa to support micro-enterprises

TAGS: Economy, Finance

The European Investment Fund (EIF) and the Cooperative Bank of Karditsa have signed the first guarantee agreement aimed at supporting micro-enterprises in Greece under the EU Programme for Employment and Social Innovation (EaSI), it was announced on Tuesday.

The guarantee agreement will cover a loan portfolio of 5 million euros for over 300 micro-borrowers targeting mainly farmers, young unemployed borrowers, cooperatives and social enterprises, as well as micro businesses active in the green economy.

Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility welcomed the agreement. "Unlocking investments in the Greek economy is key to create jobs,” she said.

“I am delighted that we are signing our first EaSI microfinance agreement in Greece,” said EIF chief executive, Pier Luigi Gilibert.

”It is a great honour for us being the first bank in Greece to sign this guarantee agreement with the EIF,” said the Cooperative Bank of Karditsa’s president, Giorgos Boukis. The bank was founded in 1994 and operates in the region of Thessaly, where it has more than 7,500 members and serves a clientele of more than 20,000 clients.

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