EIB and HSBC deal to fund Greek SMEs
Greek companies engaged in international activities will benefit from a new 200-million-euro trade finance partnership between the European Investment Bank (EIB) and HSBC Bank Plc, it was announced in Athens on Thursday, in the presence of Deputy Minister of Development and Investment Yiannis Tsakiris.
The initiative will support trade and export finance services provided by participating Greek banks to local companies and addresses a market gap that continues to restrict international business by Greek companies.
The EIB’s Trade Finance Facility, to which HSBC has been a key partner from the outset, was developed especially for SMEs and mid-caps in Greece and will continue to support letters of credit and trade-related guarantees covering exchange rate, political and payment risks.
Following this agreement, companies across Greece will benefit from new trade financing provided locally by Eurobank, National Bank of Greece and Piraeus Bank, and guaranteed by the EIB and HSBC, alongside other international banks.
