Greek companies to benefit from new EUR 400 million leasing finance scheme

Companies across Greece seeking to lease equipment and premises will benefit from a new EUR 400 million leasing finance initiative.

The European Investment Bank announced on June 27 new support to expand leasing finance for equipment and real estate, to be provided by the leasing subsidiaries of four leading Greek banks.

“Ensuring that companies can access finance is crucial for economic growth. Access to leasing finance is key for companies involved in production, agriculture, construction and other economic sectors and the European Investment Bank is pleased to strengthen our successful cooperation with leading banks in Greece to the leasing sector. This exciting new EUR 400 million initiative will enable companies across the country to build on their strengths and access new machines and better premises. The combined expertise and local knowledge of the dedicated leasing arms of Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank will help firms across the country to expand turnover and create jobs in the future.” said Jonathan Taylor, European Investment Bank Vice President responsible for lending operations in Greece.

Tackling leasing finance challenges in Greece

The new scheme will back leasing financing by Alpha Leasing, Ethniki Leasing, Eurobank Leasing and Piraeus Leasing to SMEs and MidCaps. Each partner will provide leasing finance that reflects their own business focus and catering for specific financing needs.

The initiative, guaranteed by the Hellenic Republic, will back equipment leasing and real estate leasing finance to SMEs and MidCaps across all eligible sectors.

Incentive for youth employment

Reflecting the importance of ensuring opportunities for young people, the initiative will provide additional incentives for companies supporting youth employment.

Building on success of EUR 1 billion finance programme for SMEs and MidCaps

The first dedicated leasing finance initiative in Greece by the European Investment Bank follows the successful implementation of a EUR 1 billion SME financing programme through leading Greek banks within 18 months.

“The EIB is pleased to confirm the successful roll-out of a EUR 1 billion SME financing programme that reflects a clear appetite for investment by companies across all sectors,” added Jonathan Taylor, European Investment Bank Vice President.

Original source: EIB
Published on 27 June 2018