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Strategy and policy
Reforms and Investments

Project Finance Capabilities for the Hellenic Development Bank

Supporting reforms to develop well-regulated, stable and competitive financial markets

Funding Programme
Year
  • 2023

Project Finance Capabilities for the Hellenic Development Bank

The European Commission supported the Hellenic Development Bank (HDB) with the creation of a project finance facility (PFF) to support infrastructure development in Greece. The project focused on transport, energy, and digital infrastructure, aiming to stimulate economic growth and achieve environmental goals.

Context 

Greece faces various environmental, social, and economic challenges. HDB intends to use the PFF to finance infrastructure development to address these challenges and align with EU policy priorities like green and digital transition and initiatives like the Recovery and Resilience Facility.

Support delivered

The project involved three phases: 

  • Market Overview: This phase involved studying the Greek market, its needs, and opportunities for HDB to participate in the financing process.
  • Design Phase: This phase focused on defining HDB's project finance vision, including an introduction to project finance roles, financial instruments, and organisational structure. It also involved a comprehensive risk management analysis, and guidelines on State aid and regulation.
  • Operationalisation: This phase the major tools for implementation, including financial modelling, the organisational structure, the front-to-back processes, and identifying IT functionalities. It also involved knowledge transfer through case studies and ensuring compliance with EU Pillar Assessment. 

The project started in July 2023 and ended in February 2025.

Results achieved

The project has produced the means and the comprehensive tools for HDB to be able to finance and support infrastructure projects in Greece, by being in a position to introduce a dedicated PFF and to further support the development of Greek infrastructure landscape.