EIB’s €100 Million Boost for Greek Defence Firms Through Piraeus Bank Deal
The European Investment Bank (EIB) has signed a €100 million financing deal with Piraeus Bank to support Greek businesses in the security and defence sector. This marks the first such agreement in Greece under the EIB’s expanded Pan-European Security & Defence programme. The funding aims to ease long-standing financial hurdles for smaller firms in the industry.
The new loan will help small and medium-sized enterprises (SMEs) and mid-cap companies in Greece access better financing terms. These include lower borrowing costs, extended repayment periods, and increased private investment. The EIB expects the €100 million injection to unlock an additional €200 million for qualifying businesses.
The agreement comes after the EIB boosted its Pan-European Security & Defence programme to €3 billion. Piraeus Bank is now the third financial institution in Europe—and the first in Greece—to join the initiative. Earlier, Spain’s Banco de Desarrollo Cooperativo became the first bank outside Germany and France to sign on in 2025. The programme specifically targets structural financing gaps faced by SMEs and mid-caps in the defence and security sectors. By partnering with local banks like Piraeus, the EIB aims to channel funds more efficiently to companies that often struggle to secure traditional loans.
The deal will provide Greek defence and security firms with improved access to capital. Lower interest rates and longer loan terms should help businesses expand operations and invest in innovation. The EIB’s broader €3 billion programme continues to roll out across Europe, with more partnerships expected in the coming months.
