EIB and Hellenic Republic Celebrate Completion of Greek Guarantee Fund Supporting Over 800 Businesses

(IN BRIEF) The European Investment Bank (EIB) and the Hellenic Republic have concluded the Greek Guarantee Fund (GGF), a major financial initiative that has supported over 800 SMEs and mid-cap firms across Greece since its launch in 2014. Despite difficult economic conditions, the fund enabled €600 million in EIB-backed financing, improving liquidity and reducing borrowing costs for businesses. EIB Vice-President Yannis Tsakiris highlighted the initiative as a strong example of effective collaboration and impact-driven financing. The GGF’s legacy is expected to influence future efforts to boost innovation and drive sustainable growth in Greece and beyond.

(PRESS RELEASE) LUXEMBOURG, 28-Jul-2025 — /EuropaWire/ — The European Investment Bank (EIB) and the Hellenic Republic have officially concluded the Greek Guarantee Fund (GGF), a flagship financial initiative that significantly supported Greece’s small and medium-sized enterprises (SMEs) and mid-cap companies during a particularly turbulent period for the national economy. Launched in 2014, the fund played a crucial role in improving access to finance, promoting job creation, and facilitating economic recovery amid political and financial uncertainty.

Through the GGF, more than €600 million in EIB-backed financing was mobilized to assist over 800 SMEs and mid-caps throughout the country. This targeted support helped stabilize a key pillar of the Greek economy during a time when traditional financing options were limited and often inaccessible.

Despite a challenging macroeconomic landscape, the GGF contributed to maintaining business continuity by enhancing liquidity and lowering the cost of borrowing. As a result, hundreds of companies were able to expand, invest in innovation, and protect jobs—laying the groundwork for more resilient and inclusive growth.

EIB Vice-President Yannis Tsakiris praised the initiative’s impact, stating, “The Greek Guarantee Fund exemplifies how tailored financial instruments can produce concrete results when national priorities are combined with European financial expertise. Amid exceptional strain on Greece’s economy, this fund made a real difference for businesses across the country. We’re proud of what we achieved with the Hellenic Republic and are eager to extend our collaboration on future transformative projects.”

The Greek Guarantee Fund stands as a powerful example of effective collaboration between a European financial institution and a national government. It illustrates how carefully designed financial mechanisms can deliver meaningful benefits for businesses and society, even under the most demanding conditions.

Although the GGF has officially concluded, its influence continues. The fund’s success lays a strong foundation for upcoming programs aimed at empowering Greek enterprises, accelerating innovation, and advancing long-term economic development both within Greece and potentially as a model across other European economies.

Background information  

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

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SOURCE: European Investment Bank