EUR 14.6m counter-guarantee for Greek guarantee fund TEMPME

Under the framework of the European Commission's Multiannual Programme for Enterprise (MAP), EIF has provided a EUR 14.6m guarantee covering the loan guarantee activities of The Credit Guarantee Fund for Small and Very Small Enterprises (TEMPME S.A.) in Greece. Thanks to the MAP agreement, the products could be made considerably more attractive to banks.

Based in Athens, TEMPME is a newly created public national guarantee scheme with an objective to support the establishment, growth and development of SMEs by facilitating their access to financing, especially when they cannot offer sufficient collateral. TEMPME is the only Greek guarantee fund that provides guarantees to financial institutions covering SME loans.

This agreement is the first contract under the MAP facilities with an intermediary in Greece.