The European Investment Bank (EIB) is putting €100 million into Greece’s security and defense sector through Piraeus Bank, the EIB announced. This marks the bank’s first-ever financing deal in Greece specifically aimed at companies working in defense and security. Piraeus Bank will channel the money mainly to small and medium-sized businesses and mid-cap firms operating in the sector, with leverage expected to mobilize up to €200 million total.
Greek companies in the security and defense sector often struggle to get financing because of sector-specific risks, dual-use activities, and a shortage of tailored financial products. Greece, classified entirely as an EU Cohesion region, feels these constraints particularly hard.
The EIB’s long-term funding should ease those pressures by offering lower interest rates, longer repayment periods, and pulling in additional private investment. The bank also hopes its involvement signals confidence to other investors and reduces perceived risks in the sector.
“Together, we are deploying in Greece the full range of EIB strategic priorities, from green transition and innovation to cohesion and now security and defense, strengthening competitiveness, resilience and Europe’s strategic autonomy,” said EIB Vice-President Yannis Tsakiris.
This deal is part of the EIB’s Pan-European Security & Defence program, which the bank recently expanded to €3 billion from €1 billion. Piraeus Bank becomes the first Greek lender and only the third in Europe to sign onto the program, after similar deals in Germany and France.
Christos Megalou, Piraeus Bank’s CEO, said the partnership broadens access to targeted funding for Greek firms and supports investment in dual-use technologies, innovation, and industrial upgrading across the defense ecosystem.
