On June 12 2013 the Greek government and the European Investment Bank (EIB) agreed on a 500 million euro trade finance facility to support foreign trade oriented small and medium sized companies in Greece. Through the Trade Finance facility, the EIB will provide foreign banks with appropriate guarantees in favor of the Greek banks for letters of credit and other trade finance instruments.

The finance agreements were signed in Athens in a public ceremony attended by the Prime Minister of the Hellenic Republic, Antonis Samaras, the Minister of Finance, Yiannis Stournaras, and the Minister of Development, Competitiveness, Infrastructure, Transport and Networks, Kostis Hatzidakis.  EIB Vice President responsible for Greece, Mihai Tanasescu, signed on behalf of the EIB, in the presence of EIB President Werner Hoyer.

The finance agreements were signed with three systemic Greek banks and three foreign banks.  For the Greek banks, Alexandros Tourkolias, CEO of National Bank of Greece S.A., Stavros Lekkakos, Managing Director & CEO of Piraeus Bank S.A., and Nicholas Nanopoulos, CEO of Eurobank Egasias S.A. signed.  For the foreign banks, Jay Collins, Vice Chairman, Corporate and Investment Banking, Citi, Richard Groves, CEO, HSBC Greece, and Angela Kurrle, Managing Director of Commerzbank AG, signed.