Greece's Ministry of National Economy and Finance announced a new phase of the InvestEU SME Competitiveness Guarantee, backed by an additional EUR 400 million from the Recovery and Resilience Facility (RRF). The funding is expected to generate a new financing portfolio of approximately EUR 5 billion for small and medium enterprises (SMEs). Cooperation agreements with participating financial institutions were signed at an event organized by the European Investment Fund (EIF). The new guarantees will expand SMEs' access to bank financing on more favorable terms, covering investment projects and working capital needs. The expansion follows an initial EUR 400 million RRF allocation that the ministry entrusted to the EIF. Through three guarantee instruments supporting sustainability, competitiveness and digital transformation, the first phase has already delivered more than EUR 3.65 billion in financing to over 17,000 Greek SMEs. Speaking at the event, Deputy Minister of National Economy and Finance Nikos Papathanasis placed the expansion within broader RRF measures that have already mobilized more than EUR 12.5 billion in SME financing. With the additional InvestEU support and resources channeled through the Hellenic Development Bank, total financing support for Greek SMEs is expected to exceed EUR 22 billion in the coming years.
Greece's Ministry of National Economy and Finance announces EUR 400 million InvestEU expansion expected to generate EUR 5 billion in SME financing
Greece's Ministry of National Economy and Finance announced an additional EUR 400 million from the Recovery and Resilience Facility for the InvestEU SME Competitiveness Guarantee, expected to generate approximately EUR 5 billion in financing. Agreements signed with participating financial institutions support the new phase, which will expand access to bank funding on more favorable terms for investment and working capital. The first phase has already provided more than EUR 3.65 billion to over 17,000 Greek SMEs.