InvestEU Capped PRS - Piraeus Bank Greece

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

A capped unfunded portfolio guarantee to be provided by the EBRD as an InvestEU implementing partner to Piraeus Bank ("Piraeus"), as an eligible partner financial intermediary under the Member State Compartment of InvestEU for Greece. The guarantee will cover a newly generated portfolio of loans amounting to up to EUR 500 million, financing eligible innovative, digital and green projects across industry sectors. The Project benefits from first loss risk cover from the European Union under the InvestEU Fund.

Project ID 56470

Status Exploratory

Location

Greece

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Verelis Dimitris
VerelisD@piraeusbank.gr
www.piraeusbank.gr
4 Ameriki Street, Athens, Greece

Project ID 56470

Status Exploratory

Location

Greece

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

17 Dec 2025

Disclosure date

12 Nov 2025

Project Description

Project Objectives

The Project aims to support the EBRD's digital and green agenda in Greece and the national digital and sustainable economy priorities. It will bridge the funding gap for innovative, digital and sustainable energy investments in the country, support the resilience of a systemic bank and expand its innovative, digital and green lending capacity.

Transition Impact

ETI score: 65

The expected transition impact stems from the contribution to the Competitive and Green qualities.

Competitive: by covering a newly generated portfolio of eligible loans, financing innovative, digital and sustainable investment projects ultimately contributing to the competitiveness of the Greek economy.
Green: by addressing the need to step up green transition and decrease carbon intensity across industry sectors in Greece via increased sustainable energy investments leading to energy savings and reduction of carbon emissions.

Client Information

PIRAEUS BANK SA

Piraeus is one of the four systemic banks in Greece with a market share of c. 26% by loans and 28% by total deposits as of 1H2025.

EBRD Finance Summary

EUR 98,500,000.00

Total Project Cost

EUR 500,000,000.00

Additionality

The Project provides an innovative financial instrument and risk mitigation to Piraeus through a portfolio risk sharing instrument dedicated to innovative, digital and green investments; sets standards by way of minimum performance requirements of technologies, as well as monitoring and reporting standards; supports the investments with dedicated technical assistance, and increases market awareness on best performing innovative, digital and sustainable energy solutions.

Green assessments

Paris Agreement Alignment

The project is determined aligned with the Paris Agreement based on the application of the EBRD's Paris alignment approach for indirectly financed investments. The alignment determination is based on the application of pillar 1 (counterparty commitment to the Paris Agreement) and pillar 2 (sub-transactions filter).

Green Finance Attribution

40% of the covered portfolio to be built by Piraeus is expected to be classified as green finance, as it supports activities to achieve climate mitigation objectives. The attribution is made in line with the methodology to determine the green finance attribution of EBRD investments.

Technical Cooperation and Grant Financing

The proposed operation will be supported by Technical Cooperation, structured and managed by EBRD and funded under the InvestEU Advisory Hub, under the Member State Compartment for Greece.

Company Contact Information

Verelis Dimitris
VerelisD@piraeusbank.gr
www.piraeusbank.gr
4 Ameriki Street, Athens, Greece

PSD Last Updated

12 Nov 2025

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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InvestEU Capped PRS - Piraeus Bank Greece

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Green assessments

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)

InvestEU Capped PRS - Piraeus Bank Greece

Overview

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Environmental and Social Summary

Green assessments

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)