Alpha Bank extends agreement with EIF; 200 mln euros to SMEs through COSME programme

Alpha Bank’s financing of SMEs through the COSME programme reached 200 million euros after the extension of the initial agreement of 150 million euros signed by the Bank and the European Investment Fund.

With the signing of the new agreement, Alpha Bank confirms its commitment to support Greek enterpreneurship by quadrupling the funds it will offer to SMEs for the strengthening of their competitiveness in the domestic and foreign market.

The COSME programme for the strengthening of competitiveness covers the period 2014-2020 with a total budget of 2.3 bln euros with aim of facilitating the access of European SMEs to funding. Particularly, COSME’s financing instrument Loan Guarantee Facility (LGF) provides guarantees and counter-guarantees to financial institutions in order for them to offer higher funding to SMEs with lower demands for guarantees.