They are in full operation, as of today, the new KYC platform of the Hellenic Development Bank for microloans for farmers and manufacturing companies.

According to a statement, “two important innovations are being launched today in our financial system, the result of the harmonious and productive cooperation of the Hellenic Development Bank-HDB, with the Interoperability services of the Ministry of Digital Governance, the services of the Ministry of Development and the Ministry of Rural Development”.

On the one hand, for the first time, the institution of low-interest micro-loans is being introduced to farmers and agricultural processing companies for small investments aimed at strengthening agricultural production. On the other hand, for the first time, the KYC by HDB platform is being launched which allows interested parties with simple procedures to express their interest with a single application and – as long as they are eligible (Tax and Insurance aware and with no pending issues at TEIRESIA) – their application for the financing to be simultaneously available in as many banks as they choose. Market forces will expand their options for short-term and low-interest lending.

Interested farmers as well as manufacturing companies can visit the website of the Hellenic Development Bank www.hdb.gr to express their interest in the Agricultural Entrepreneurship Small Loan Fund.

By submitting their details to the new KYC platform, they are quickly informed of their eligibility to qualify for the financing offered by the Fund, for small loans, from 3,000 to 25,000 euros, which will be co-financed by the Rural Development Program without the provision of real guarantees on the part of the farmer borrowers.

As mentioned in the announcement, after successive tests, by the executives of the Hellenic Development Bank-HDB and successive stress tests, especially – at the last stage – in cooperation with a large Cooperative Bank that has a wide clientele in the agricultural sector, the KYC platform is available and fully functional to accept the first applications.

In addition, it is noted that “the CEO of the Hellenic Development Bank-HDB, Athina Hatzipetrou, keeping her commitment to the Prime Minister to expand the bankability of businesses, took the entire initiative of the strategic planning and implementation of this innovative platform that changes the financing data. The KYC by HDB platform introduces the institution of microloans to the Greek market, facilitates and accelerates the horizontal cooperation of the involved bodies and ultimately expands the number of financed businesses. It connects business requests with HDB’s financial tools and directs them to all cooperating Banks.

In this way, all interested businesses gain “visibility” (visibility) in the banking system which in turn will receive applications that do not conflict with Insurance and Tax Awareness and Solvency”.

Commenting on the launch of the innovative KYC by HDB platform and the Rural Entrepreneurship Small Loan Fund, the Minister of Development and Investments Adonis Georgiadis commented: “Today we are activating an important financing tool for small and medium-sized enterprises in the agri-food sector and farmers, writing, at the same time, a new page in the Entrepreneurship support programs through the Know Your Customer platform. The Hellenic Development Bank is changing the data in terms of business lending procedures, especially small and medium ones, making them simpler, faster and more transparent.

Our goal is to enable all businesses to benefit from the very large financial opportunities of the new era”

O Minister of Rural Development Giorgos Georgantas said: “The launch of the KYC platform marks in practice the activation of an important financial tool, in a difficult economic time. This fact contributes substantially and effectively to the development of the agri-food sector of our country. In this way, access to financing for both farmers and small and medium-sized enterprises in the agricultural products processing sector is facilitated.”

THE Deputy Minister of Development, Yannis Tsakiris noted: “With the new financing tool of the Hellenic Development Bank for the agricultural and manufacturing sector that will be available from tomorrow, we are taking another solid step in the direction of strengthening Greek small and medium entrepreneurship. Through joint planning, we constantly aim to promote modern financial tools that cover the real needs of Greek businesses while at the same time addressing one of the most important problems of the real economy at the given time, which is none other than the access of more and more Small and Medium Enterprises to sources of financing” .