During the second quarter, Piraeus Bank increased almost 3 times the number of transactions under the state program "5-7-9" compared to the first quarter of this year.

The program was initiated by the President and the Government of Ukraine and is being implemented with their support. The Program aims at supporting micro, small and medium-sized businesses.

The main objectives of the Program are the implementation of investment projects for business development, anti-crisis measures to overcome the effects of COVID-19 and refinancing of existing loans.

"Piraeus Bank is dynamically increasing the share of loans under the state program" 5-7-9% "and, as of early August, this figure is 45% of the total loan portfolio of small and medium-sized businesses. We are very optimistic for the program, as we have noticed high demand from customers. In Piraeus Bank we believe that thanks to this initiative, the volume of investments into the SME sector will be increased significantly, which in turn will contribute to the development of Ukraine’s economy,” commented Christos Bougiouklis, Member of the Board of Piraeus Bank in Ukraine.