BUSINESS

New wave of credit to corporations

TAGS: Finance, Business

The Hellenic Development Bank has issued loans to more than 19,000 enterprises, totaling 5.3 billion euros, through the Entrepreneurship Fund II and the Guarantee Fund. 

This sum amounts to about 5% of those companies’ total turnover, which comes to €110 billion.

Tuesday saw the start of the second phase of the Entrepreneurship Fund II that will see the issue of another €800 million in loans.

This will be followed by a further €2.5 billion in credit via the second phase of the Guarantee Fund, expected to be activated in the last 10 days of this month.

“The bank aspires to protect part of the turnover lost so that enterprises can survive and jobs are maintained,” said chief executive Athina Hatzipetrou.

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