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Favourable financing

The extraordinary conditions brought on by the COVID-19 pandemic and the energy crisis caused by the Russian invasion in Ukraine have increased the need for liquidity in most businesses. Meet this need with flexibility, with an 80% guarantee from the HDB-TMEDE Loan Guarantee Fund of the Hellenic Development Bank (HDB).

Who it is aimed at

The Programme is aimed at Small and Medium-sized Enterprises (SMEs) (according to Regulation 651/2014) of the Engineering and Construction sector, which:

  • Wish to undertake or have undertaken projects and/or studies of public interest, irrespective of the stage of the project or study.
  • Are active in the eligible business activity codes (KAD) that are listed here.
  • Have been established up until the time the financing application is submitted to the Bank.
    Are not considered “undertakings in difficulty” as of 31.12.2019 (as described in Article 2(18) of Regulation 651/2014). In the case of Very Small and Small Enterprises, these are eligible irrespective of being undertakings in difficulty as of 31.12.2019, provided they are not subject to collective insolvency proceedings based on national law and have not received rescue or restructuring aid. The same applies to SMEs, irrespective of size which submit an application to the State Aid Information System (PSKE) as of 01.06.2022 onwards, under the de minimis aid regime.
  • Have an acceptable credit rating, in accordance with the applicable credit policy and the Banks’ internal processes.
  • Are up to date with bank payments (debts < 90 days past-due) at the time of the financing application to the Bank.
  • Are not subject to exclusion according to Article 40 of Law 4488/17 (A/137/139/17), as in force.
  • Have no outstanding recovery order against them for a previous illegal and incompatible state aid, based on a EU or CJEU decision.
  • Have not received total aid on a single business level in the context of Regulation 1407/2013 (De Minimis) over €200,000 within a period of 3 financial years.
  • Have not exhibited poor credit behaviour in their debt repayments (termination of loan or debts over 90 days past-due), in the event the businesses that have been included in HDB Programmes that have expired or are still active.

In the case of businesses that have exhibited poor credit behaviour in relation to the above, HDB may approve the loan application in the context of the Loan Guarantee Fund HDB -TMEDE provided:

- they have repaid their debt in full prior to submitting the loan application or
- the case involves a Guarantee Programme and the guarantee amount has not been paid on the part of HDB or
- the relevant debt has been confirmed by the competent Tax Office and included in a debt settlement scheme, which is still active on the date when the application form is submitted.

Businesses not falling within the Scope of Article 1 Regulation (EU) 1407/2013 (for applications submitted after 01.07.2022) and those exercising “Non-Eligible Activities” are excluded.


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).

Covid-19 Guarantee Fund
State Aid Information System

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