Guarantee Fund

Gov't approves final version of state budget draft for 2021

The Government on Monday evening approved the final version of the state budget law for 2021, with the approval of the Legislative Council. Head of the Chamber of Deputies and PNL (National Liberal Party) leader Ludovic Orban stated that, after the final adoption, with the approval of the Legislative Council, the state budget draft will most likely be sent to the Parliament on Tuesday.

High approval rate for new loan issues

Almost four out of five loan applications (78%) submitted by companies in the second phase of the Guarantee Fund, an initiative that started on November 17, have been approved by the credit sector.

In just over six weeks, Greek banks have approved the issue of loans to 7,470 enterprises, of which 7,360 are small and medium-sized firms and the remaining 110 are large ones.

Cash abundance for economy

The Greek credit sector has received a cheap liquidity boost this year of 40 billion euros from the European Central Bank that has flooded the market with cash aimed at supporting enterprises and households in the face of the pandemic.

PM Orban says Gov't is drafting state aid scheme aimed at guaranteeing factoring, leasing to purchase equipment

Prime Minister Ludovic Orban said that the Government is currently drafting several state aid schemes aimed at guaranteeing factoring, leasing for the purchase of equipment and guaranteeing the discount of payment instruments. "We are in the process of drafting several state aid schemes.

Great interest recorded in state-guaranteed loans

The Guarantee Fund for the supply of loans to small, medium-sized and large companies with state collateral began operating on Wednesday with high expectations.
These working capital loans will have low requirements and favorable interest rates so as to provide liquidity to corporations during the crisis brought on by the coronavirus pandemic.

Banks eye state-backed credit

There is strong competition among banks for participation in the Guarantee Fund for the provision of state-subsidized liquidity to Greek enterprises, with 14 lenders expressing an interest in response to the invitation published by the Hellenic Development Bank.

New fund to boost cash flow

The creation of the Guarantee Fund, which will be activated by the Development Ministry in early May to oversee the supply of state-guaranteed working capital of over 7 billion euros up until the end of 2020, marks the start of the economic recovery, through the direct injection of cash into medium-to-large and large businesses.