Hellenic Development Bank – Incentives for companies for mergers and acquisitions

The Hellenic Development Bank, during its presence at the Thessaloniki International Fair (TIF), organized a lively discussion on the role of development banks in the recovery of the economy with important announcements.

In the presence of ministers, institutional actors and representatives of the Greek market, the importance was discussed, but mainly the contribution of the development banks and specifically of the Hellenic Development Bank, in critical periods such as the extended period of the pandemic.

Market problems and how to deal with them through existing and new financial tools were analyzed. Among the topics discussed were the prospects for business development through mergers and acquisitions and the financial benefits they can reap.

It is noteworthy that the President and CEO of the Hellenic Development Bank, Athena Hadjipetrou, announced that using funds and the EIB is planning a new financial tool that will give financial incentives to companies for mergers and acquisitions.

At the same time, the Secretary General of Digital Governance and Process Simplification, Leonidas Christopoulos, together with the President and CEO of the Hellenic Development Bank, Athena Hadjipetrou, announced an important development tool for audiovisual professionals.

The process for the operation of the first Loan Guarantee Fund for Audiovisual Production Companies has been completed and will be put into operation immediately, while more announcements are expected tomorrow.

The Minister of Development and Investment, Adonis Georgiadis thanking Mrs. Hadjipetrou stressed:

“The Hellenic Development Bank is an example of great success, because it supports the real economy. The revision of the Greek GDP target has caused a global impression, as 5.9% automatically place us in one of the first countries again in the European Union for the year 2021, while it strengthened the possibility for the Prime Minister, Kyriakos Mitsotakis, to announce this dividend of collective success, with targeted measures to the whole society and for the whole business world. The Development Bank has therefore played its own role in this Greek success. “Other incentives for business mergers will follow.”

The Deputy Minister of Development and Investment, Giannis Tsakiris supported:

“The Hellenic Development Bank is a development organization that also operates counter-cyclically, ie it helps the market where more entrepreneurship is needed. We will continue to support the Bank, so that in the future it can create even more financial tools.”

The Head of the Investment Team of the European Investment Bank for Greece and Cyprus, Giannis Kaltsas, pointed out:

“Development banks, like the Hellenic Development Bank, play a key role in maintaining an institutional memory that facilitates the operation and creation of financial instruments, depending on the needs of each state.”

The President of SVE, Athanasios Savvakis, stated:

“The Hellenic Development Bank contributes to the formation of the new productive model and to the fair and sustainable development of the country. It lays the foundations for the recovery of the economy with sustainable criteria, since it is now an important part of the National Development Strategy “.

The President of the Piraeus Chamber of Commerce and Industry, Vassilis Korkidis, noted:

“In the current conditions of reduced liquidity and financing, the national plan must utilize the mechanism with improved and new programs of the Hellenic Development Bank, which has already played an important role. Hellenic Development Bank provides comprehensive support through guarantee and co-financing programs. The impact of the new programs it has provided has been remarkable. “