The Hellenic Development Bank (HDB) is a valuable element in the integration of Micro, Small and Medium size enterprises (MSMEs) financing cycle, through the collateralization of the fraction of business risk not accepted by the banking system, thus amplifying the scope of viable entrepreneurial initiatives undertaken by MSMEs.
Through a very focused business agenda, continuously adjusted to counterbalance the negative effect of the difficult macro- economic environment on MSMEs sustainability. HDB aspires to become a reference institution in the provision of supplementary funding for the greek MSME market, and as such a growth model for the local economy.
The Hellenic Development Bank was established by Law 4608/2019 (Government Gazette Α΄ 66/25.4.2019) and is the successor of the Hellenic Fund for Entrepreneurship and Development (ETEAN SA). ETEAN was established by Law 3912/2011 (Government Gazette A17/17.2.2011), as an financial institution fully owned by the Greek State bearing an initial share capital of Euro 1.7 billion, of which Euro 1.5 billion in Greek Government Bonds (GGBs) and approximately € 213 million in cash.
ETEAN in its turn was the successor of the Guarantee Fund for Small and Very Small Enterprises (TEMPME SA), which was founded in 2003 as a public limited company wholly owned by the State, aiming to facilitate the access of SMEs to the financial market. TEMPME’s capitalisation rose to Euro 240 million, funded by the EU. / ERDF (67%) and national sources (33%).
Nowadays, HDB has broadened the scope of its services, to include, apart from the extension of guarantees and co-guarantees, the origination and management of innovative special purpose funds, co-financing loans and/or guarantees at attractive terms.
- CORPORATE SOCIAL RESPONSIBILITY
As part of its corporate governance agenda, HDB assigns special priority to social and environmental responsibility. In this context, specific initiatives are in place and monitored closely, such as the reserve of blood donations, the use of recycling bins for paper and the collection of batteries and bulbs.
Also, HDB adopts energy efficiency standards applied throughout the company premises.
