The European Investment Bank (EIB) and the Hellenic Republic announce the successful completion of the Greek Guarantee Fund (GGF), a landmark financial initiative that provided crucial support to Greek small and medium-sized enterprises (SMEs) and mid-caps during a period of exceptional economic and political challenges. Launched in 2014, the GGF aimed to enhance access to finance for Greek businesses, stimulate job creation, and contribute to the recovery of the national economy. Over the course of its implementation, the GGF enabled EUR 600 million in EIB financing to more than 800 SMEs and mid-caps across the country.
Despite significant macroeconomic headwinds, the GGF helped to safeguard one of the most vital segments of the Greek economy, by improving liquidity conditions and reducing borrowing costs, allowed small and medium businesses to invest, grow, and innovate at a time when access to finance was severely constrained.
“The Greek Guarantee Fund is a remarkable example of how innovative financial tools can deliver real impact when there is strong alignment between national priorities and European financial expertise. At a time of exceptional pressure on the Greek economy, this initiative ensured that hundreds of businesses could access affordable financing and continue to grow, innovate, and preserve jobs. The EIB is proud to have partnered with the Hellenic Republic on this important mission, and we look forward to building on this legacy to support even more ambitious projects in the future.” said EIB Vice-President Yannis Tsakiris.
The GGF stands as a model of effective cooperation between the EIB and the Hellenic Republic. Its successful implementation demonstrates how targeted financial instruments can deliver tangible benefits for businesses and citizens, even in the most challenging environments.
As the initiative concludes, its legacy will serve as a foundation for future efforts to support SMEs, boost innovation, and drive long-term economic growth in Greece and beyond.
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.
High-quality, up-to-date photos of our headquarters for media use are available here.