EU backs €150 million of investment in Greek small and medium-sized companies

The European Investment Fund (EIF) has signed three deals with Greek intermediary banks and funds to provide €150 million of additional investment to very small, small and medium-sized companies (SMEs) in Greece. Each deal is backed by European Commission programmes. The COSME agreement with Diorama Investments will trigger investments of more than €125 million to SMEs. The EaSI agreement with Cooperative Bank of Karditsa will cover a loan portfolio of €5 million for over 300 micro-borrowers targeting mainly farmers, young unemployed borrowers, cooperatives and social enterprises, as well as micro businesses active in the green economy. The European Fund for Strategic Investments (EFSI)-backed InnovFin deal with ProCredit group is the first EFSI deal to be signed in Greece and it will provide €20 million to innovative SMEs. Commissioner Dimitris Avramopoulos, responsible for Migration, Home Affairs and Citizenship, said: “Small companies in Greece are in great need of financing to grow their businesses and create jobs. The agreements signed by the EIF with ProCredit, Diorama Investments and Cooperative Bank of Karditsa this week will help Greek SMEs access new finance. I encourage other banks to join forces with the EIF and set up similar agreements under the Investment Plan so that we can help more Greek companies flourish.(For more information contact Annika Breidthardt - Tel.: +32 229 56153; Siobhán Millbright – Tel.: + 32 229 57361)

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