ECONOMY

Hellenic Development Bank’s Covid-19 Guaranteed Loan Fund sees few takers

hellenic-development-bank-s-covid-19-guaranteed-loan-fund-sees-few-takers

Officials are worried that there are few takers for the state-owned Hellenic Development Bank’s Covid-19 Guaranteed Loan Fund aimed at providing working capital to businesses with turnover less than €200,000.

So far, it has loaned €20 million out of the €415 million available for the program.

Thoughts about making bigger businesses eligible are difficult to implement, since the program was set up under special exemptions agreed to by the European Union and which expire at year’s end.