NBG is actively helping business growth and putting efforts to enhance market liquidity. Accordingly, it has entered into an agreement with the Export Credit Insurance Organization (OAEP) regarding financing of export entities against OAEP guaranteed credits to foreign buyers (exports).

For further information see Details.

Through its "OUTWARD ORIENTATION" programme, under Law 1796/88, OAEP insures companies that export Greek products against specific risks, at a coverage rate of 80% per invoice and up to the total insurance amount of €1,000,000 (revolving amount) per exporting company. Eligible are invoiced credits with tenor between one and four months.


Advantages for the Exporters

  • Insurance against credit risk
  • Access to liquidity
  • Reduced margin of financing
  • Ability to penetrate into new markets


Target group

Medium-sized firms and SMEs that export from Greece to abroad either Greek products or products that have gained added value in Greece, to be paid up on a future fixed date.


Key features

Limit or lump-sum:

Financing up to €1,000,000


Duration of limit:

Until expiry of the insurance contract and up to one year.



Issued sale invoices on credit to foreign buyers, of a tenor between one and four months, duly pledged, following receipt of the OAEP notification stating that the claims in question are subject to the "OUTWARD ORIENTATION" programme.


Amount of financing:

Equal to the insurance amount under the "OUTWARD ORIENTATION" programme and up to 80% of the invoice value.


Financing period:

20 calendar days following the maximum term of the invoices on credit presented for each financing. Given that eligible for the programme are invoices of a term up to four months, the respective financing period cannot exceed four months and twenty days. Invoices with maturity (including the 20-day period) exceeding the term of the insurance contract shall not be accepted.


Interest rate:

3-month Euribor , plus a margin between 4.00% and 4.50%, depending on the exporter's credit score, plus a charge under Law 128/75, and an 0.4% pledge management commission.



The charges for processing and assessing the financing request, as well as for pledge management, each time applicable, are listed under the Charges for Other Banking Transactions .

Conditions of acceptance and submission of funding request

  • The exporter files with OAEP a request for acceptance in the "OUTWARD ORIENTATION" programme for specific and legally invoiced sales to specific foreign buyer(s).
  • OAEP approves the credit limit and issues an insurance contract, including foreign importers in the buyers list and determining the financing bank.
  • OAEP forwards to the financing bank (NBG):
      1. Notification letter regarding acceptance of the export receivables, and
      2. Additional Deed of Particular Terms of the insurance programme
  • The customers / exporters involved, following their acceptance in the "OUTWARD ORIENTATION" programme, file with an NBG branch requests for financing against credits that are or will be accepted in the said programme.
  • In addition to the standard documentation for assessing and undertaking credit risk, exporters are obliged to present to the Bank a copy of the OAEP insurance contract in force.

​For issues related to the said programme and communication with OAEP, you can contact NBG's Global Transaction Services Division, International Trade Sector at +30 210 35 74 871, +30 210 35 78 541 and +30 210 35 78 549 or visit any NBG Branch.