Following the successful completion of AFI Microfinance SA’s Share Capital Increase, Eurobank now holds a 19.9% equity stake in the company’s common shares and full ownership (100%) of its preferred shares. As part of its Corporate Social Responsibility (CSR) strategy, Eurobank also provides financial support to AFI Microfinance SA, aligning with its mission to facilitate access to capital for underserved groups and micro-enterprises seeking financing to execute their business models.
Through this strategic partnership, Eurobank and AFI Microfinance SA are playing a pivotal role in expanding the microcredit market in Greece. AFI has commenced the issuance of business microloans up to €25,000, having been granted a microfinance license by the Bank of Greece. The company is scaling its operations to offer flexible financing solutions for entrepreneurs while also providing comprehensive advisory services designed to support the effective implementation of business plans.
Eurobank has been collaborating with AFI since 2016 under the European Employment and Social Innovation (EaSI) program, providing capital, financial education, and consultancy services to economically disadvantaged populations. This initiative aims to bridge the financing gap and enhance access to microfinance for both nascent and growing micro-enterprises.
To date, Eurobank, in partnership with AFI, has disbursed 650 microloans, amounting to approximately €7 million, and has contributed to the creation of over 1,000 jobs through the promotion of self-employment and business expansion. Of the funded ventures, 60% are start-ups, and 44% are women-owned businesses. In 2024 alone, AFI originated loans totaling over €2 million, with an average loan size of €13,500.
Demographically, the portfolio reveals that 48% of borrowers are between the ages of 20 and 35, while 46% fall within the 36 to 50 age bracket. Notably, 23% of borrowers do not possess higher education qualifications, and 35% of the borrowers reside in rural or peri-urban areas, highlighting the reach of the program in promoting financial inclusion.
The socio-economic significance of microfinance and financial inclusion is a cornerstone of Eurobank’s Sustainability Strategy. The ongoing reinforcement of initiatives such as AFI Microfinance SA aligns with Eurobank’s broader objective to foster economic inclusivity, enhance local economic development, and contribute to sustainable growth at both regional and national levels.
