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National Bank of Greece Group loans
Details
Location:Greece
Status:Completion and evaluation
Sectors:Private Sector & Trade, Financial Services & Audit
Languages:English
Contracting authority:
Description
National Bank of Greece Group loans
Project ID: 41815
Status: Complete
Location: Greece
Notice type: Private
Approval date: 20 Jul 2010
Disclosure date: 03 Dec 2024
Project Overview: As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."
Project Description
This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed
The EBRD signed loans worth a total of EUR 350 million with National Bank of Greece Group subsidiaries across three countries, as part of a package approved in July 2010. The aim was to provide medium and long-term debt financing through National Bank of Greece subsidiaries for on-lending to private businesses operating in the three countries.
Project Objectives
The EBRD investments were part of the Joint International Financial Institutions Action Plan set up by the EBRD, the World Bank Group and the European Investment Bank (EIB) to provide over EUR 24 billion in support of the banking sectors in the region and to fund lending to businesses hit by the global financial crisis. Specifically, the credit lines were aimed at on-lending to SMEs and corporate clients, with up to 50% of the proceeds to be used for refinancing of existing loans, and 50% to be used for new lending. This programme was intended to strengthen the ability of systemic Greek banks to weather the effects of the macro-economic and Greek sovereign crises.Transition Impact
The credit lines contemplated by this project were designed to contribute to the transition process by maintaining an essential flow of lending to enterprises at a time when the availability of credit, particularly to SMEs and corporates was constrained. It was also intended that this action plan would operate to protect the banking sector market expansion achievements gained in the years to 2010, and demonstration effect of successful restructuring of the funding structure and the business model of the client banks.ETI Score:60
Additionality
At the time of the transaction, the Bank’s additionality was clear due to the lack of commercial appetite for Greek risk, which had flow-on effects for the network Banks in the EBRD’s regions of operations.Environmental and Social Summary
As a Category FI project, the National Bank of Greece subsidiaries were required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local loans, when conducting their business in accordance with PR 2 on Labour Standards, to adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit Annual Environmental and Social Reports to the Bank. Subsidiary borrowers were also required to comply with applicable national environmental, health and safety and labour requirements.Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement: Tel: +44 20 7338 7168 Email: projectenquiries@ebrd.com
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tender Background
About the Funding Agency
European Bank for Reconstruction and Development (HQ)
EBRD - European Bank for Reconstruction and Development - is a multilateral development bank, using investment as a tool to help build market economies. Initially focused on the countries of the former Eastern Bloc (former European Communist Countries), it expanded its support to development in the democracies of 30 countries from central Europe to central Asia. EBRD invests mainly in private enterprises.
EBRD is not to be confused with the European Investment Bank (EIB), which is owned by EU member states and is used to support EU policy.
About the Sectors
Private Sector & Trade
Entails initiatives that promote entrepreneurship, strengthen competitive markets, and expand domestic and international trade opportunities.
Key areas:
- Private sector development and SME/MSME support
- Entrepreneurship, start-ups, and business growth initiatives
- Trade facilitation, import/export, and market access
- Commerce, retail/wholesale, and free trade mechanisms
Financial Services & Audit
Covers financial, banking, insurance, investment, and audit services related to the management, transfer, and oversight of financial resources.
Key areas:
- Financial services, banking, and insurance
- Accounting, auditing, and financial reporting
- Investment, capital markets, and financial inclusion
Locations
Greece
Greece invests in port modernization, highway networks, renewable energy, and tourism-related infrastructure to strengthen economic recovery and regional connectivity. Major ports such as Piraeus serve as key logistics gateways linking Europe and Asia. Infrastructure financing combines national budgets, EU structural and recovery funds, and private sector participation. Energy transition, digital transformation, and climate resilience are central to long-term infrastructure priorities.
Nr. of tenders: 9964
Nr. of grants: 15593
Nr. of donors: 666
Nr. of jobs: 27
Nr. of tenders: 9964
Nr. of grants: 15593
Nr. of donors: 666
Nr. of jobs: 27
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