In May 2024, the European Commission released its latest economic forecast for Greece.

“Following a reduced, but still solid economic performance in 2023, GDP growth is expected to pick up slightly in 2024 and 2025, supported by export, investments, and private consumption,” it said.

In addition, the forecast highlighted an expected GDP growth of 2.2% in 2024, with economic growth projected at 2.3% in 2025.

“Investment is expected to gain further momentum, and become a key contributor to output growth,” it continued.

Supporting the economic growth in Greece is the Hellenic Development Bank (HDB), the mission of which is to support micro, small and medium enterprises (MSMEs) by facilitating access to funding sources, whilst assisting in risk management.

A relatively young institute formed in 2019 (but with a financial history dating back to 2003), HDB has since facilitated 120,000 loans totalling over sixteen billion euros.

“We are more than just a bank,” shared Nikolaos Maroulas, Director of Risk Management at HDB, “Our business model is multi-faceted, covering a range of functions aimed at fostering economic growth – from the design and management of portfolio funds to the development of loan and guarantee schemes”.

Putting entrepreneurs at its heart, HDB is dedicated to finding creative ways to support MSMEs at every stage of their journey.