Eurobank pens agreement with EIF on SME support

Eurobank pens agreement with EIF on SME support

Eurobank is the first Greek bank to sign an agreement with the European Investment Fund (EIF) for its participation in the new guaranteed program SME Competitiveness, with a total maximum budget of 250 million euros, under the InvestEU Fund.

The new program, which is already available through Eurobank from January 23, is aimed at SMEs so that they can cover their working capital needs and/or implement investment projects to improve their competitiveness.

Under the EIF’s guarantee, which covers part of the financing, all eligible companies can access liquidity with reduced collateral requirements.

Eurobank also offers further reduced interest rate margins on financing provided through the program, supporting Greek companies to the maximum possible extent, especially in the current period of rising interest rates in Europe.

EIF CEO Marjut Falkstedt stated: “We are delighted to build on the long-standing relationship with our Greek partners to help local SMEs overcome the financial constraints they are facing. Better access to finance is vital for Greek businesses and entrepreneurship in the country in general. This new €250 million agreement under the InvestEU program will give local businesses preferential access to the resources they need in order to implement investments in climate action, energy efficiency and renewable energy, to enhance their competitiveness and to support their digital transformation.”

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