The new Microcredit Fund managed by the Hellenic Development Bank (HDB) was officially launched at an event attended by the Alternate Minister of National Economy and Finance, Nikos Papathanasis, and hosted by Bank of Greece Governor, Yannis Stournaras.
The new Fund aims to support very small entrepreneurship, with a particular emphasis on female entrepreneurship, offering new opportunities for development, financing and social cohesion.
More specifically, it is aimed at small and very small businesses that employ up to 10 staff and have an annual turnover of up to 900,000 euros.
With the support of the Microcredit Fund, the operation of which is expected to support 3,300 businesses, of which 1,100 businesses in the context of women’s entrepreneurship, working capital loans and loans for the implementation of investment projects will be granted totaling 3,000-25,000 euros with a duration of 12-96 months and the possibility of a grace period of up to 6 months. No collateral will be received for the granting of the loans.
The Governor of the Bank of Greece, Yannis Stournaras, noted that the new Fund is “a tool that can turn challenges into opportunities, giving hope and strength to people who need it most.” He also called on the relevant bodies to work together to ensure that “microfinance will continue to be a lever for social and economic progress, offering not only capital, but also hope for a better future.”
On his part, Alternate Minister of National Economy and Finance, Nikos Papathanasis, pointed out that “supporting entrepreneurship is a priority for the government. Practical proof is the fact that every available euro that we have secured from the NSRF and the Recovery Fund is directed towards strengthening investments and the competitiveness of the economy. As a result, Greece is in the top positions in the EU, not only in terms of absorption of resources, but also in terms of achieving milestones and reforms.”
