The European Investment Bank is lending the National Bank of Greece 250 million euros to increase support for green investments made by Greek small and medium-sized enterprises and mid-caps. The agreement raises the total intermediated lending made available through this EIB facility to back decarbonization investment by smaller Greek companies to €1 billion.
The new agreement will enable hundreds of SMEs and mid-caps in the country to get NBG loans on favorable terms, including reduced interest rates, for investments that help tackle climate change. The accord follows similar EIB deals with both NBG and Piraeus Bank since 2020.
“Reaching this €1 billion milestone highlights the EIB’s unwavering support for Greece’s green transition and our commitment to foster sustainable economic growth,” said EIB Vice President Yannis Tsakiris. “The partnership with NBG has been essential in enabling Greek businesses to access financing for climate-focused investments, helping them grow while contributing to a greener future.”
The new €250 million credit to NBG is part of an EIB program to spur green investments by Greek SMEs and mid-caps, which form the backbone of the country’s economy. Established in 2020, the program is the first of its kind in Greece and is open to all eligible banks in Greece, with NBG and Piraeus Bank having taken part so far. The latest NBG loan brings its total participation in the program to €800 million.