Female empowerment financing program, with the cooperation of the European Investment Bank

You can cover your working capital needs or investment plans with preferential pricing and exemption from the obligation to pay the contribution of Law 128/75.

The product at a glance

Budget and availability period of the project.

The program's total budget is €40.000.000, and the availability period is until 19.08.2023 or until the available funds are exhausted.

Purpose of funding

The program aims to support SMEs and mid-cap companies that promote female entrepreneurship and the presence of women in leadership positions.

Loan amount

The maximum loan amount can be up to €12.500.000 with a total budget of €25.000.000 for each investment project. 

Duration of financing

The duration of the loans may not exceed the economic and technical life of the financed investment (minimum duration of 2 years).

Disbursement procedure

Lump-sum or partial disbursements are allowed, with a mandatory grace period of up to two years. The first disbursement must be made no later than 08 December 2022.

Method of payment

Payment is made through equal quarterly or semi-annual installments.

What supporting documents will I need?

  • Identity card or passport
    In order to evaluate your application, we must know more about you. Thus, we need your personal details. Learn more
  • Evidence of home address
    A public utility bill or other document evidencing your home address
  • Your latest tax clearance
    You can download the tax clearance of the previous year from Taxisnet
  • Proof of Occupation
    Payslip (for salaried employees of the private sector), evidence of pension payment (for pensioners) or VAT Returns- receipts evidencing provision of services (for freelancers).
  • Telephone bill
    A landline phone bill of any provider.

Detailed information

The interest rate is Euribor 3M limited to zero, in case of a negative price, plus a margin (exemption from the contribution of Law 128/75).
The usual collateral is required.


The bank's general rates & charges apply. 

Eligible for EIB financing are those enterprises that meet the following cumulative criteria:

  • They are based, operate, and will invest within the Greek territory.
  • They are not active in non-eligible sectors, as described in detail below as "non-eligible enterprises".
  • They meet at least one of two eligibility criteria for women's professional empowerment, as described below, and
  • Either they are small and medium-sized enterprises and employ fewer than 250 workers, measured in annual work units (AWU).
  • Either they are mid-caps that employ between 250 and 3,000 employees, measured in annual work units (AWU).

Ineligible businesses and financing activities are: 
The eligibility of interested companies is determined according to the economic activity codes in the EU (NACE), as provided by the EIB to the National Bank of Greece.
Irrespective of the eligibility of the economic activity code (NACE) relating to the main activity, any interested enterprise involved in any of the following activities is not eligible for EIB financing:

  • activities related to the production or trafficking of arms and ammunition, explosives, equipment or infrastructure intended for military or police use and equipment or infrastructure which have as their effect the restriction of individual rights and freedom or the violation of human rights,
  • activities that may lead to environmental impacts that cannot be largely mitigated or compensated for (including but not limited to, for example, projects in protected areas, critical habitats, and cultural heritage sites),
  • activities which may be considered ethically or morally controversial or which are contrary to or prohibited by provisions of national law, e.g. animal testing and research on the cloning of human beings,
  • activities prohibited by national legislation (where legislation exists) e.g. genetic modification, abortion clinics, nuclear power, etc.

In addition, and irrespective of the main activity of the undertaking concerned, any income from the following activities must not exceed 10% of the annual income of the undertaking concerned:

  • activities aimed at producing or facilitating the use of games of chance and related equipment
  • activities aimed at tobacco production, processing, or specialized distribution of tobacco and activities facilitating the use of tobacco (e.g. smoking rooms).

Apart from the above exceptions relating to exempted sectors or activities, financial holding companies whose sole economic activity is to own and manage portfolios of equity holdings and/or investments in other companies are not eligible.

Eligibility criteria relating to the professional empowerment of women:  
For a business to be included in this funding program, the business declares that it supports the professional empowerment of women and meets at least one of the following two criteria, namely:
α) Women's business leadership:
More than 50% of the executive management of the company is made up of women and, where there is a Board of Directors/Investment Committee of the company, more than 50% of the Board of Directors/Investment Committee is made up of women, or
b) Women's entrepreneurship:
Women own more than 50% of the shares of the company and participate more than 50% in the executive management of the company.




Investments and expenditure that can be included in the Business Plan include:

  • Purchase, renewal, extension of tangible assets, including land only if substantially necessary for the investment, up to 10% of the amount of financing. 
  • The purchase of agricultural land is not included.
  • The acquisition of patents or licenses is eligible provided that they are necessary for the technical installation of the investment.
  • Intangible assets such as:
    • research, design, and construction period costs up to 10% of the amount of funding,
    • Research & Development costs,
    • setting up distribution networks in the local market or other markets within the EU (acquisition of assets and/or brands, management, and labor costs).
  • Generational change (e.g. retirement of the previous owner) or business change related to staff. The funding in these cases is intended to keep the business active, provided however that the buyer and the business being sold are SMEs and the total funding does not exceed €5.000.000 (excluding equity).
  • Working capital of a more permanent nature. In particular, businesses are financed for undertakings related to their trading cycle as part of their normal activity. Expenditure that can be financed includes (but is not limited to) the purchase of raw materials and other inputs in the processing of inventories and overheads, trade receivables, and receivables from sales to non-end consumers.
The program aims to support SMEs and mid-cap companies that promote female entrepreneurship and the presence of women in leading business positions. It also aims to boost their competitiveness, by enhancing their access to bank financing on particularly favorable terms, contributing to the reduction of the increased financial costs faced by Greek companies.

Discover more financing solutions

Get access to more financing solutions for your business, such as EIB climate loan.

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