Press Release 19/11/2024: Cooperation of PSE with the Hellenic Development Bank for the Support of Small and Medium-Sized Enterprises

Athens, 19 November 2024
PRESS RELEASE

The initiatives of the new administration of the Panhellenic Exporters Association (PSE) continue, with the main focus on facilitating export trade. Following previous important meetings with the competent Ministries, a working meeting was held with the Hellenic Development Bank (HDB).

Representing the HDB was Chief Executive Officer Ms. Ismini Papakyriyllou, while the Ministry of Finance was represented by Secretary General of Economic Policy and Strategy, Mr. Giorgos Christopoulos. Representing PSE were President Mr. Alkiviadis Kalampokis, Vice President Ms. Alexandra Chazapi-Pitta, Secretary General Mr. Nikolaos Mavrikos, and Financial Supervisor Mr. Bassam Azar.

During the meeting, an extensive and productive discussion took place, including a review of all financing tools available through the Hellenic Development Bank, aiming at their wider distribution to small and medium-sized enterprises (SMEs). On the part of PSE, a commitment was made to inform its members, through online meetings or via its newsletter, by providing concise information on how these financing tools can, to the greatest possible extent, benefit the exporting community.

Both parties committed to continuing their cooperation, as the primary mission of HDB is to support very small, small, and medium-sized enterprises by facilitating their access to financing sources. This aims to address and cover potential market dysfunctions, with the ultimate goal of promoting innovation, enhancing competitiveness, and advancing quality and strategic projects.

The purpose of PSE is to enrich its members’ knowledge regarding the key mission of HDB, which serves as the connecting link in the financing cycle between enterprises and banks, by assuming part of the credit risk and facilitating access to funding (market gap and market failure). This complementary role establishes HDB as a reference institution for the development of entrepreneurship.

There was extensive discussion on the still-available funds, which, through the financing tools currently open and in progress, can be directed to the business sector. Among these are the Entrepreneurship Fund – TEPIX III Loan Fund, the Guarantee Fund under the Development Law Financial Instrument (DeLFI GF), Green Co-Financial Loans, Digitalization Co-Financial Loans, and the Small Loans Fund for Agricultural Entrepreneurship. These can all serve as substantial financing sources.

Strategies that SMEs must adopt in the field of Environmental, Social, and Corporate Governance (ESG) were also discussed, with an emphasis on the immediate integration of these practices into export enterprises, since they are expected to become prerequisites across different aspects of business activity.

Ms. Papakyriyllou was invited to speak and present all of HDB’s financing tools at the Conference that PSE will organize in Spring 2025, on the occasion of its 80th anniversary.

The next meeting will take place on Thursday, 21 November 2024, with Deputy Minister of Foreign Affairs Mr. Kostas Fragogiannis, responsible for economic diplomacy and extroversion. The aim will be to intensify PSE’s actions not only for resolving the issues faced by Greek exporters, but also for further increasing exports and reducing the trade deficit.