(31 January 2023 – Greece) HSBC and the European Investment Bank (EIB) have entered into a new trade finance deal to support the growth of mid-sized and small-scale enterprises (SMEs) in Greece.
Under the deal, the EIB will guarantee letters of credit and other trade instruments issued by Greek banks for the benefit of international trade conducted by Greek companies.
The initiative will support trade and export finance services provided by participating Greek banks to local companies and addresses a market gap that continues to restrict international business by Greek companies.
Following this agreement, companies across Greece will benefit from new trade financing provided locally by Eurobank, National Bank of Greece and Piraeus Bank, and guaranteed by the EIB and HSBC, alongside other international banks.
“We are delighted to continue our long-standing partnership with the EIB and participate in this important Trade Finance Facility developed for Greece,” said HSBC Managing Director Alexandra Konida.