The Greek government will launch a program aimed at supporting Greek exporters this month. The program, by the Organization of Export Credit Insurance (OAEP), offers lending to exporting businesses at very favourable terms, the Regional Development, Competitiveness and Shipping ministry said on Monday.
A number of Greek banks -Alpha Bank, Eurobank, Attica Bank, Marfin Bank, Hellenic Postbank, Piraeus Bank, ATEbank, Emporiki Bank and National Bank- submitted offers to participating in the program, and the ministry said that first contracts between OAEP and the banks will begin signing within the next fortnight.
The program ensures financing to Greek export companies up to 200,000 euros for a period of up to four months. The program will last for six months and could extend to 12 months. Greek exporters will be offered very attractive lending terms, with interest rates ranging from 6.1 pct to 7.8 pct, depending on the bank. OAEP will deposit a sum of 3.0 million euros initially, as a start up.