60,000 SMEs to have access to loans of 2.5 billion euros with favorable terms

Over 60,000 small enterprises that have been excluded from accessing banking loans will now have access to financial support through a new tool called "Know Your Customer," created by the Hellenic Development Bank (HDB). The tool was presented during an event attended by Prime Minister Kyriakos Mitsotakis and the leadership of the Development and Investments Ministry on Friday.

The aim of the initiative is to replace banks in evaluating small enterprises and provide guarantees to banks for approving loans, thus enabling these excluded enterprises to access credit and contribute to economic growth, job creation, and business justice. The HDB aims to offer credit to 100,000 enterprises in response to the demands of the union of small and medium-sized enterprises, GSEVEE.

Development and Investments Minister Adonis Georgiadis said that the HDB would "do the job for banks...