BSTDB, Hellenic Development Bank agree Greek SME lending deal

The Black Sea Trade and Development Bank (BSTDB) and the Hellenic Development Bank (HDB) have signed a Memorandum of Cooperation initiating a new financing  program aimed to support small and medium-sized enterprises in Greece. 

The program envisages the provision of up to €100 million by the Greek Government to HDB to mainly issue guarantees and to co-finance BSTDB’s lending to SMEs. By using the HDB guarantees BSTDB will be able to create a multiplying effect for the Greek economy.

The SME sector is among the most affected by the impact of the economic crisis caused by the COVID-19 pandemic.