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Monday, July 18, 2016

Support to more than 350 small businesses in Greece through COSME and the Juncker Plan

Economy - Finances, SME Policy,-,

News The European Investment Fund (EIF) and the National Bank of Greece (NBG) signed the 14th of July the first COSME guarantee agreement in Greece, with the support of the European Fund for Strategic Investments (EFSI), the main instrument of the Investment Plan for Europe.

The EIF will provide the National Bank of Greek with a direct guarantee, under to the COSME programme and through the Investment Plan for Europe. This support from the EU will allow the NBG to provide 100 million euro to more than 350 small businesses in Greece. Indeed, the bank will launch three new loan products with substantially reduced collateral requirements and provide support to SMEs that would otherwise not have received financing. 
Speaking at the signature ceremony in Athens, Chief Spokesperson of the European Commission, Margaritis Schinas, said that this deal prove that Juncker Plan is working because it is reaching the people and businesses who need support the most. The SME financing part in particular has shown really strong results, so strong that the Commission aims to extend the lifetime of the European Fund for Strategic Investments.

Source :  DG Growth


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