The Eurobank has signed an agreement with the European Investment Fund (EIF) to participate in a new SME Competitiveness Guarantee Program with a total maximum funding budget of EUR 250 million under the InvestEU Fund.

Eurobank is the first Greek bank to sign the new program, which is available at the bank from January 23, 2023 and is designed for small and medium-sized enterprises to cover their working capital needs and implement investment plans in order to increase their competitiveness. With a guarantee provided by the EIF for part of the funding, all eligible businesses can access liquidity with reduced collateral requirements. In addition, the Eurobank provides an additional reduced interest margin to finance the program, supporting the Greek business as much as possible, especially during the current period of rising interest rates at the European level. The financing will be provided in the form of an interest-free loan for a period of one (1) to ten (10) years, repayable in monthly or quarterly installments.

At the same time, the bank announced the approval by the Ministry of Finance of the disbursement of the 3rd tranche of €300 million of the Recovery and Resilience Fund (RAF), having completed the required tasks based on the operating agreement it signed with the Greek state.