Loans of 2.4 bln euros to SMEs

Twelve banks have expressed an interest in participating in the Third Entrepreneurship Fund (TEPIX III), a program of the Hellenic Development Bank (HDB), which will leverage around 2.4 billion euros in new loans to small and medium-sized enterprises (SMEs) and which starts after Easter, HDB Chief Executive Ismini Papakirillou announced on Thursday.

This is one of the development tools currently operating, the progress of which was announced at a press conference by Alternate Minister of National Economy and Finance Nikos Papathanasis. TEPIX III is aimed at newly established small and medium-sized enterprises for one to five years.

HDB, as stated by its president, Giorgos Zavvos, has granted more than 45,000 new loans in the period 2019-2024, disbursing €9.3 billion, and its intention is to more than double that. The lending rate was 3.63% in January, compared to the...