ECONOMY

Deal to offer cash boost to SMEs with debts

Hundreds of small and medium-sized companies stand to get a much-needed cash injection through a loan refinancing program on offer at Eurobank and Piraeus Bank worth 200 million euros with an interest rate considerably lower than what is currently available.

This is the option to be offered to Greek SMEs with the agreement that will be signed on Tuesday by the Investment for Growth in Greece (IfG) fund, the Hellenic Fund for Entrepreneurship and Development (ETEAN) and Germany’s KfW investment bank with Piraeus and Eurobank.

The deal provides for the issue of credit up to 200 million euros at a rate of up to 2 percent, for the refinancing of existing loans used for the liquidity of SMEs, provided that they service their debts on time.