New financial tools from the Hellenic Development Bank

The financing of the companies and the strengthening of their liquidity was at the center of the Board of Directors of the Piraeus Chamber of Commerce and Industry, which was held in the presence of the president and CEO of the Hellenic Development Bank (HDB), Ms. Athena Hadjipetrou.

In particular, the president and CEO of HDB referred to the financial tools and proposals of the Bank, which stood out for its contribution to the Greek economy, having granted, from 2020 to date, more than 39,000 loans worth more than 8.4 billion euros. During the pandemic, HDB, through its activity in lending programs in Greece in 2020, supported companies that employ a total of 237,800 employees. The total contribution in terms of GDP was 6.2 billion euros. This means that every 1 euro of funding contributes to the country’s total GDP with an additional 2 euros.

In order to continuously support businesses, HDB is preparing an innovative, for Greece, proposal, a single Know your Customer (KYC) platform, which will act as a link between companies and Banks. It will offer the opportunity to companies that want to be funded, to submit data and documents that will certify their eligibility and awareness, as well as their business plan.

In addition, for the first time in Greece, a Greek financial institution, HDB, has created its own global networking community, called “InnoAgora” powered by HDB, reaching 400 members in a few months, on the internationally renowned EuroQuity platform, which has about 22,100 members. The goal is to create a specialized network of investors and entrepreneurs, which offers the opportunity for Greek innovative companies to find financing and knowledge opportunities. Through InnoAgora, HDB builds a long-term relationship with investors and entrepreneurs by providing non-financial support through free liaison services, training seminars and e-pitchingsessions.

Also, during a meeting of the Board. of the Chamber examined the energy costs and solution 3A in the energy crisis proposed by the Piraeus Chamber

The president of the Piraeus Chamber, Vassilis Korkidis, referred to the solution “3 S”, which will be proposed by the Chamber to the government and the competent Ministry of Environment and Energy, which is in line with the “solar strategy” of the EU. The proposal was unanimously ratified by the Board, with V. Korkidis, referring to the “Solar Strategy”, to point out that the full potential of solar energy should be utilized, in order to contribute to achieving the goals of the European Green Agreement. More specifically, the proposal “3 S”, ie “Self-production, Storage, Self-consumption”, for households and businesses, can be implemented with a subsidy through the green transition funds, utilizing all available financial tools related to the effort to reduce the environmental footprint, but also financing of installation and storage infrastructure, which is the most expensive part of a 3S investment, through the Green Portofolio Guarantee Fund. The product funds can be raised from the Public Investment Program and the loan funds, concluded by the Greek State with the European Investment Bank, for the purpose of their assignment to HDB. In addition, ESCOs can be funded, which will offer the study and the necessary equipment to households and businesses.

The meeting of the Board of the Chamber also dealt with the Tax Bill of mergers and transformation of enterprises, which is moving in the right direction. In fact, the Piraeus Chamber proposes giving tax exemptions at a rate of 30-50% for a period of 9 years to all new companies that will be created in our country and will result from the merger, both between Greek and between Greek and European companies. That is, to give incentives to European companies to come to our country and cooperate with Greek firms, in order to bring the funds and part of their turnover, for which the corresponding reduced taxes will be handed over to the Greek state. In this case, there may be scales of reduction, but also clauses, depending on the amount of new investment, but also the creation of new jobs.

The progress of the creation of a 5S Economic Geography platform for maritime activities was also examined and the successful Famagusta Business Forum was reviewed, thanks to which the basis for cooperation between Greek and Cypriot companies in a number of fields of the economy was created, but also a set of common goals, which will seek to jointly be achieved by the  the Chambers of Commerce and Industry of Piraeus and Famagusta in the future.