The TMEDE and the Hellenic Development Bank carried out, with funding from the Guarantee Fund, an information event regarding the financial tool that they created a few months ago and is aimed at the technical world. The event, hosted by the TMEDE at its headquarters, was held in the presence of representatives of the 8 cooperating banks that provide the loans of the programme, the sectoral organisations of the Technical World (SATE, PEDMEDE, PESEDE, PESEDHEDE, SEGM, SEPOX, CIVIL ENGINEERS, APXITEKTONONON NAYPHGON TOPOGPAFON etc.) as well as representatives of the Technical Chamber of Greece.

The Hellenic Development Bank-HDB and the Public Works Contractors Engineering Fund (PMEDE ) continue to offer their attractive financing product called EAT-TMEDE Guarantee Fund. It is targeted at the technical world and acts as a guarantee for loans to SMEs received from the partner banks.

This tool is the answer to the real needs of technical companies . Companies that are mostly SMEs and for various reasons do not have the access they need to financial products through traditional channels.

For this very reason, and in an effort to support and facilitate access to financing for Greek engineers, designers and builders, the Hellenic Development Bank-HDB, after the signing of the Memorandum of Cooperation with TMEDE on 17 May 2021, created this product.

The new Fund provides a guarantee for loans granted by the 9 participating banks:

• Alpha Bank
• National Bank of Greece
• Eurobank
• Piraeus Bank
• Attica Bank
• Optima Bank
• Cooperative Bank of Thessaly
• Cooperative Bank of Karditsa
• Cooperative of Epirus

Through the partner banks, access to lending is made possible for:

• engineers
• scholars
• Manufacturers
• thousands of scientists freelancers
• as well as small and medium-sized enterprises

This joint effort of TMEDE and the Hellenic Development Bank (HDB) facilitates and significantly expands access to finance for businesses. This is achieved through the targeted thematic module financing tool for the construction design sector.

Especially now, when the international environment is difficult and global economic conditions are unstable, the EAT-TMEDE Guarantee Fund acts as a positive growth counterweight to the international interest rate increase. This enables technical companies to be protagonists in the construction world event that is taking place.

Athina Hadjipetrou, Managing Director of the Hellenic Development Bank

"At a time when the cost of money is rising rapidly and professionals' access to bank finance is limited, the Hellenic Development Bank-HDB and the TMEDE cooperate and create a stable safety net for the thousands of freelance engineers, designers and contractors of public works. Another HDB guarantee scheme opens the door of the banking system to healthy, small and medium enterprises. Serving the central objective of growth for all."

Konstantinos Makedos, president of TMEDE

"We are living a contradiction. While the scope of investment in infrastructure and construction is growing significantly, the technical world is finding it difficult to meet its financing needs with products that are attractive, simple and targeted to its needs. The "EAT-TMEDE Guarantee Fund" is tangible proof that, where there is knowledge of the real needs of a business sector and the will for flexible products without bureaucratic difficulties, these products can become a reality."

Closing the round of questions and answers from the participants, the president of TMEDE said that "the conclusion of today's meeting is that the executives of the two institutions (TMEDE and HDB) will work closely together to incorporate stakeholders' comments and to create other products that the technical world needs".