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The Ministry of Development, Competitiveness, Infrastructure, Transport and Networks is making an active effort in addressingΒ the problem of SME liquidity through 11 actions, through the use ofΒ European and national resources. To date, the following programmes have been activated:
Lending throughΒ European Investment Bank (EIB) programmes
1. 1.44 billion Euros available for loans to SMEs until 2015:
Following an agreement with the Government, the European Investment Bank is proceeding, through Greek banks, with the disbursement of loans to small and medium-sized enterprises amounting to a total of 1.44 billion Euros until 2015.
The disbursements of loans have already begun through the following associated banks such asΒ Alpha, Eurobank, National Bank of Greece, Pancretan and Piraeus.
Information is available on the following websites:Β
2. 1.5 billion Euros annually, in the form of revolving guarantees, to facilitate external trade:
For the first time in its history, following a proposal by the Ministry of Development, Competitiveness, Infrastructure, Transport and Networks and negotiations with the Government, the European Investment Bank is implementing a programme for the provision of guarantees to Greek banks in order to finance GreeceΞs external trade.
According to the Agreement, the EIB will provide the banks with which it concluded the relevant agreement on 12 June in Athens (three Greek and three foreign banks) guarantees amounting to 500 million Euros for the financing of Greek exports and imports. The banks in question are: National Bank of Greece, Piraeus and Eurobank on the Greek side and HSBC, Commerzbank and Citi.
On an annual basis, the new financial tool will be able to cover transactions amounting to 1.5 billion Euros, as the capital will be revolving.
Essentially, the EIB will serve as the link connecting Greek enterprises, Greek banks and three international credit institutions having a global network or significant regional coverage in areas of interest to Greek enterprises.
Relevant information can be found on the EIB website:
Β http://www.eib.europa.eu/projects/press/2013/2013-084-eib-first-ever-trade-finance-facility-for-greece.htm?lang=-el
Lending via the National Fund for Entrepreneurship and Development (ETEAN)
3. 550 million Euros available for working capital and investment financing, with low-interest loans, via the 'Business Restart' Fund.
Relevant information can be found on the following website:
http://www.etean.gr/PublicPages/PastProgram2.aspx?ID=24Β
4. 315 million Euros available through favourable loans for extroversion, innovation, tourism, youth and green entrepreneurship.
Relevant information can be found on the following website:
http://www.etean.gr/PublicPages/PastProgram2.aspx?ID=12
5.Β 80 million Euros available through interest-free or low-interest loans to support island tourism enterprises.
Β Relevant information can be found on the following website:
http://www.etean.gr/PublicPages/Tender2.aspx?ID=50
6. 150 million Euros available in loans through the Guarantee Fund:
The Guarantee Fund aims at supporting SMEs by providing guarantees for investments and working capital. The Fund's available cash from ETEAN resources amounts to 50 million Euros, while the total loan capital that will serve as the object of guarantees by the Fund is estimated to amount to approximately 150 million Euros. The Fund is expected to become active in the coming days.
7. 45 million Euros available in guarantees for the issuance of letters of guarantee.
Relevant information can be found on the following website:
http://www.etean.gr/PublicPages/PastProgram1.aspx?ID=13
Lending via the Jeremie ProgrammeΒ
8. 50 million Euros available through venture capital in support of youth and newly-established enterprises in the fields of IT and Communications.
Relevant information can be found on the following websites:
9. 48 million Euros for loans to Micro- and Small Enterprises through the 'Risk-Sharing Favourable Loans' programme.
Relevant information can be found on the following website:
http://www.espa.gr/el/Pages/Proclamationsfs.aspx?item=1546
10. 58 million Euros available in support of Medium-sized Enterprises through the 'Risk-Sharing Favourable Loans' programme.
Information: The programme will become active in the coming days and relevant information will be provided.
11. 177 million Euros available for working capital and investments in the field of IT through the 'Business Loan Co-Financing' programme.
Relevant information can be found on the following websites:
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