Hellenic Development Bank distributed liquidity worth 8.6 billion euros to the economy

Hellenic Development Bank channeled liquidity worth 8.6 billion euros to small- and medium-sized enterprises (SMEs) and large enterprises through the banking system since the beginning of the pandemic crisis (April 2020), the Development & Investments Ministry said in a report on Thursday.

It added that this was achieved by leveraging 2.78 billion euros from community and national funds.

More specifically, 2.0 billion euros were distributed to 17,804 SMEs through the TEPIX II fund, while disbursement of an additional 600 million euros is expected, raising the number of beneficiaries to 20,000 SMEs.

Another 4.6 billion euros were distributed to 521 large enterprises and 9,620 SMEs through the Guarantee Fund Covid-19, while disbursement of another 1.4 billion euros is expected mainly to SMEs. The value of disbursed loans is cumulatively 10 times greater than that of loans offered in the 2015-2019 period, and four times greatger than those of the 2010-2019 period.

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