At the Ministry of Development & Investment, in the presence of the Deputy Minister of Development and Investment, Yiannis Tsakiris, and the Portuguese Secretary of State for Internationalization, Eurico Brilhante Dias, was signed this Wednesday, 30 September, a Memorandum of Understanding between the Hellenic Development Bank of Investments (HDBI) and Portugal’s National Development Institution (Instituição Financeira de Desenvolvimento – IFD). IFD’s operation lies in promoting socio-economic development in Portugal, mostly by improving Portuguese companies’ access to equity financing.

The basic goal of this memorandum is to strengthen the relations between the two organisations which are members of the EVFIN (European Venture Fund Investors Network). In particular, the MoU provides for the identification of areas of common interest, a close cooperation of the two organizations in joint future initiatives for equity investments in companies through the development of cross-border actions, the exchange of information, know-how and good practices, as well as the implementation of promotional actions and events.

The Deputy Minister of Development & Investment, Giannis Tsakiris, stated:

“The cooperation between these two national organisations is an important step in enhancing the extroversion of the Greek companies, but also in the exchange of know-how on best international practices.  More importantly, this memorandum can offer to the fast-growing and innovative businesses, joint and significant opportunities for equity financing. Lastly, this adds to the Hellenic government’s entire effort to further strengthen the innovation ecosystem, and I intend to launch similar initiatives with international organizations in the near future.”

The Portuguese Secretary of State for Internationalization, Eurico Brilhante Dias, welcomed the Memorandum of Understanding signed between the IFD and HDBI, noting that “it is an important step in promoting the internationalization of Portuguese companies and strengthening economic relations with Greece. Despite the current health situation, Portugal continues to be #OpenforBusiness, emphasizing on the extroversion of its economy and business, as well as on the diversification of markets and financial partners.”

The President of the Hellenic Development Bank of Investments, Haris Lambropoulos, stated:

“This memorandum seals an existing relationship between two organizations that operate in comparable markets, share common goals and face similar challenges. Our cooperation is a dynamic initiative that establishes for us a direct and creative communication. Our goal is to plan joint actions and initiatives to achieve practical results in the direction of increasing investment and cross-border trade.  In HDBI, we invest in peer-to-peer strategic partnerships, as we believe that exchanging experiences and good practices acts as a catalyst in boosting our work”.

IFD Chief Executive Officer Henrique Cruz said:

“The Memorandum of Understanding signed today between the IFD and the Hellenic Development Investment Bank, strengthens the existing relationship between the two organisations, focusing on promoting economic growth and cross-border investment opportunities.  IFD has experience in developing investment schemes in cooperation with private investment funds.  Through cross-border investment opportunities and know-how in investment management, IFD aims at supporting private companies and investment funds in Portugal and Greece, even in this challenging times.  IFD’s greatest interest in direct cooperation with the Hellenic Development Investment Bank is focused on the cross-border expansion of medium-sized companies and investments in the ‘blue economy.”

The signing ceremony was also attended by the CEO of the Hellenic Development Investment Bank, Antigoni Lymperopoulou, the Portugal’s Ambassador, Helena Paiva, the Economic and Commercial Advisor of the Embassy of Portugal in Greece, as well as Members of IFD’s executive board.