BUSINESS

Hellenic Development Bank boosts market liquidity

TAGS: Finance

The Hellenic Development Bank has channeled liquidity worth 8.6 billion euros to small and medium-sized enterprises (SMEs) and large enterprises through the banking system since the beginning of the pandemic crisis (April 2020), the Development & Investment Ministry said in a report on Thursday.

It added that this was achieved by leveraging €2.78 billion from European Union and national funds. 

More specifically, €2 billion was distributed among 17,804 SMEs through the TEPIX II fund, while disbursement of an additional 600 million euros is expected, raising the number of beneficiaries to 20,000 SMEs. 

Another €4.6 billion was distributed to 521 large enterprises and 9,620 SMEs through the Covid-19 Guarantee Fund, while disbursement of another €1.4 billion is expected mainly to SMEs.

The value of disbursed loans is cumulatively 10 times greater than that of loans offered in the 2015-19 period, and four times greater than those of the 2010-19 period.

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