The contribution of Greek Development Bank (HDB) in small and medium entrepreneurship, through targeted financing tools, recognized the OECD in its Annual Report on Greece (OECD Economic Surveys GREECE December 2024).
According to the relevant announcement, the OECD Report makes special mention of the creation of the Hellenic Development Bank (HDB) in 2019, with the clear objective of providing financing to small and medium-sized enterprises, while supporting exports, sustainable development and innovation.
The OECD highlights HDB’s contribution to facilitating investment, accessing alternative sources of finance, encouraging equity investment and providing business support to small and medium enterprises.
Special mention is made of specific successful HDB financing tools such as the Entrepreneurship Fund (TEPIX), the COVID-19 Guarantee Fund, the Innovation Guarantee Fund, the Business Growth Fund, as well as the 2016 EquiFund.
The OECD report also points to the smaller special programs of the Hellenic Development Bank, such as the Regional Development Fund of Western Macedonia (TADYM), which strengthened the regional economy.
According to the report, with risk-shared loans, guarantee facilities and “financial expertise in the public sector”, the Hellenic Development Bank significantly improved the access of small and medium-sized enterprises to financing and the promotion of innovation.
Source: APE – MEB