Search En menu ClientConnect
Top 5 search results See all results Advanced search
Top searches
Most visited pages


    € 225,000,000
    Greece : € 225,000,000
    Credit lines : € 225,000,000
    Signature date(s)
    21/12/2021 : € 225,000,000

    Summary sheet

    Release date
    17 March 2021
    Signed | 21/12/2021
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 225 million
    EUR 735 million

    Risk-sharing instrument deployed under the European Guarantee Fund (EGF) for the support of mid-caps and large corporates in Greece that are active in sectors that are in line with the EIB's long-term mission (innovation, environment and intermediated support for small and medium-sized enterprises (SMEs)) and have been affected by the COVID-19 pandemic.

    Improve access to finance for companies in Greece and, namely, at beneficial terms, through the provision of capital relief and credit loss protection to Piraeus Bank on a portfolio of new eligible transactions.

    Additionality and Impact

    The proposed operation consists of a guarantee in favour of Piraeus Bank covering up to 75% of the loan-by-loan losses that may incur in a portfolio of financings to eligible MidCaps and large corporates in Greece. By addressing the underlying market failure in access to finance faced by companies due to information asymmetries and higher screening costs for smaller investments, which has been exacerbated due to the impact of COVID-19, the operation is fully in line with EU, the Bank's, as well as the Hellenic Republic's strategic objective to support uninterrupted access to finance and liquidity for enterprises. The guarantee will offer credit loss protection and capital relief to Piraeus Bank on the portfolio to be covered. This would allow for the creation of additional headroom in the bank's balance sheet and increase in its credit risk appetite, which would be reflected in the benefits passed to final beneficiaries and which would take the form of reduced pricing, higher volumes of financing, access to finance for clients that in the absence of the guarantee would not be possible, lower collateral requirements.

    Environmental aspects

    Final beneficiaries will be required to comply with the applicable national and EU legislation, as appropriate.

    Final beneficiaries will be required to comply with the applicable national and EU legislation, as appropriate.


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications