Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation is structured as a Multi-beneficiary intermediated loan (MBIL) to NBG Leasing that will on-lease the EIB funds to eligible small and medium-sized enterprises (SMEs) and mid-caps in Greece.
The aim is to support eligible projects carried out by the target beneficiaries.
The EIB intervention addresses the market failure by improving access to leasing finance for Greek SMEs and Midcaps, which face challenges due to asymmetric information. By providing longer tenors and better financing conditions, the EIB enhances the viability and competitiveness of these businesses, leading to job creation and overall economic stability in Greece. The project also supports youth employment, aligning with the EIB's Jobs-for-Youth initiative.
Partnering with NBG Leasing ensures effective implementation and support for the SMEs and Midcaps due to its extensive client base and leading market position. Additionally, NBG Leasing's prior experience with EIB is beneficial to manage and deploy funds effectively. The EIB loan offers long tenor, diversifying funding sources and attracting private investment by reducing risk perceptions. This comprehensive support helps alleviate market failures and contributes to sustainable economic development in Greece.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
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).
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.
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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.
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