Piraeus Bank, in partnership with the European Fund for Southeast Europe (EFSE), announces a new financial agreement aimed at supporting micro, small, and medium-sized enterprises (MSMEs) in Ukraine. Under this program, Piraeus Bank will provide a combined package of up to €1 million in grants (with a maximum of €100,000 per client) and €10 million in loan financing to assist Ukrainian MSMEs. This initiative will support their recovery, adaptation, and sustainable growth. The grants are provided by Finance in Motion GmbH through the EFSE fund in cooperation with Piraeus Bank. 

“At Piraeus Bank, we understand the crucial role MSMEs play in ensuring Ukraine’s economic resilience and post-war rebuilding. Our partnership with EFSE is the next step in strengthening Piraeus Bank’s cooperation with international funds to support Ukraine’s recovery. It enables us to improve access to financing and offer tailored financial solutions that reduce project risks, enhance business resilience, address urgent liquidity needs, and support the long-term sustainable development goals of local enterprises,” says Yannis Kyriakopoulos, Chairman of the Board at Piraeus Bank.  

The initiative targets three priority categories: 

Agribusinesses Adapting to Wartime Conditions 
Addressing substantial losses in agriculture, such as reduced numbers of operating farms, inaccessible or mined land, and export challenges. Piraeus Bank will provide grant-supported financing in the national currency to enhance investment attractiveness and promote sustainable and digital agricultural practices. 

MSMEs in De-Occupied and Frontline Areas 
 Supporting businesses heavily impacted by the war, particularly those led by women, internally displaced persons (IDPs), veterans, youth, and people with disabilities. Grants and credit will support asset recovery, job retention, and urgent liquidity needs. 

MSMEs Investing in Critical Economic Reconstruction 
 Focusing on businesses involved in infrastructure modernization, export expansion, and implementation of energy-efficient solutions that are crucial to Ukraine’s economic recovery. This financing will boost business resilience, job creation, and long-term development. 

Eligibility and Key Terms for Piraeus Bank Clients 

- Who Can Apply 
 
Micro, small, and medium-sized enterprises registered and operating in Ukraine, including agribusinesses that fall under one of the above categories and meet the following criteria: 

Fewer than 250 employees; and 

At least one of the following two indicators: 
 2.1. Annual turnover not exceeding EUR 50 million (or equivalent in other currencies); or 
 2.2. Annual balance sheet total not exceeding EUR 43 million (or equivalent in other currencies). 

Must have a positive operating profit in the 2023 financial year. 

- Loan Terms 
 
Long-term credit lines with competitive interest rates in the national currency to reduce exchange rate risks. Loan amounts: 

• the equivalent of up to EUR 1,000,000 in the national currency for long-term investment loans for SMEs (over 3 years), or 
• the equivalent of up to EUR 500,000 in the national currency for loans up to 3 years. A grace period may be provided depending on the nature of the project. 

 Grace periods may be granted depending on the nature of the project. 

- Grant Component 
 
Grants are provided to support liquidity, improving the creditworthiness of MSMEs and easing access to financing. The purpose of the loan and grant must align (e.g., investment loan / grant for equipment purchase, etc.). 

- Application Process 
 
 Interested businesses can apply directly through Piraeus Bank branches or contact your personal manager. Applications will be evaluated based on business viability, potential impact, and alignment with program goals. 

This partnership between Piraeus Bank and EFSE reaffirms a shared commitment to rebuilding Ukraine’s economy by empowering local businesses with the tools, resources, and financial support they need to thrive in challenging times.