The Ministry of National Economy and Finance, the Hellenic Development Bank (HDB), and the Engineers and Public Works Contractors Fund (EPWCF/TMEDE) have signed a renewed Financing Agreement to extend the operation of the HDB – EPWCF Guarantee Fund through December 31, 2026. 

  

Specifically engineered to enhance and secure working capital liquidity for beneficiary enterprises, the Fund targets small- and medium- sized engineering and construction enterprises (SMEs) engaged in, or bidding on, projects and/or studies of public interest, regardless of execution stage. The instrument has garnered exceptionally positive reception across Greece’s technical community, including engineers, designers, and public works contractors. 

  

The extension aligns with the strategic objectives of both institutions to enhance SME access to competitively structured financing on highly favorable terms, strengthen the technical professions, and amplify Greece’s economic growth trajectory — particularly amid heightened investment demand across infrastructure, energy transition, and sustainable development. 

  

The HDB – EPWCF Guarantee Fund represents HDB’s inaugural public-private partnership with an autonomous, self – funded guarantee and credit institution, establishing itself as a benchmark instrument for entrepreneurial support in Greece. Financing is carried out with the guarantee provided by the HDB-TMEDE Loan Guarantee Fund of the Hellenic Development Bank (HDB), co-financed by the Greek State and the Engineers and Public Works Contractors Fund (TMEDE). 

  

Program Parameters: 

• Eligible Beneficiaries: Small and medium-sized enterprises (SMEs), engineers, designers, public works contractors, and graduate freelance professionals/entrepreneurs in the sector 

• Total Budget: €95 million (loan portfolio) 

• Working Capital Loans: €400,000 (maximum loan amount) 

• HDB Guarantee Coverage: 80% of the loan principal 

• Repayment Term: 1 to 5 years (including any grace period) 

• Collateral/Insurance Coverage (per loan): Capped at 20% of loan value 

• Early Repayment: Permitted without penalty 

• Application Process: Streamlined business plan; no invoice documentation required 

 

Participating Financial Institutions: 

Applications are submitted through the State Aid Information System (PSKE) and processed by participating credit institutions: 

• Piraeus Bank 

• Alpha Bank 

• Eurobank 

• National Bank of Greece 

• CrediaBank 

• Optima Bank 

• Cooperative Bank of Karditsa 

• Thessaly Cooperative Bank 

 

Statement from Ms. Ismini Papakyriakou, CEO, Hellenic Development Bank: 

“The renewal confirms the success of a targeted financial instrument that has demonstrated proven effectiveness in facilitating access to capital for Greece’s construction and technical sectors. By providing liquidity – enhancing tools that streamline investment execution, we contribute materially to the nation’s growth momentum. HDB remains committed to SME support, assuming credit risk exposure and establishing stable financing frameworks for construction and consulting professionals.” 

  

Statement from Mr. Konstantinos Makedos, President, EPWCF/TMEDE: 

“The eligibility extension through December 31, 2026, ensures that the technical community retains access to attractive financing mechanisms needed to meet accelerating public and private investment timelines, as well as the imperatives of the green and digital transition. EPWCF/TMEDE actively supports business initiatives linked to the country’s sustainable development and market needs. I extend sincere appreciation to Alternate Minister of National Economy and Finance Mr. Nikos Papathanasis and HDB CEO Ms. Ismini Papakyriakou for their exemplary collaboration, which has resulted in modern guarantee products with highly favorable financing terms — instruments that sector professionals have enthusiastically embraced.” 

  

This joint HDB – EPWCF initiative strengthens entrepreneurship and ensures uninterrupted operations for technical enterprises vital to the national economy.