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    Reference: 20210044
    Release date: 9 April 2021

    Promoter – Financial Intermediary

    ALPHA SERVICES AND HOLDINGS SA

    Location

    Description

    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.

    Additionality and Impact

    The proposed operation consists of a guarantee in favour of Alpha Bank covering partially the loan-by-loan losses that may incur in a portfolio of financings to eligible MidCaps and large corporates in Greece. Aiming to enhance uninterrupted access to finance and liquidity for businesses in the post-pandemic era, the operation is fully in line with EU, the Bank's, as well as the Hellenic Republic's strategic objectives to support extroversion and growth of the Greek entrepreneurship. The guarantee will offer benefits to Alpha Bank on the portfolio to be covered and to the final beneficiaries in respect of favourable terms provided.

    Objectives

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

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 490 million

    Environmental aspects

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

    Procurement

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

    Status

    Signed - 23/12/2021

    Disclaimer

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

    Related tags

    Greece Credit lines