The study assesses the cumulative impact on the Greek economy of HDB’s business programs for the period 2019–2025—with a total loan value of €11.5 billion—across three areas: the economy, the green transition, and the credit market. Using an input-output model, it is estimated that for every €1 of funds reserved by the HDB financing instruments, approximately €3.58 of GDP was generated. Cumulatively, over the 2019–2025 period, EAT programs and total induced investments by beneficiary enterprises contributed to a total impact of €12.5 billion on GDP (direct, indirect, and induced), 383,600 annual full-time jobs, €7.3 billion in employee income, and €5 billion in public revenues. The impact stems primarily from small and medium-sized enterprises, as 78% of the loans were directed to small and medium-sized enterprises.

In terms of environmental footprint, more than three-quarters of business loans were granted to sectors of high importance for the green transition. In the credit market, HDB activities contributed to the credit recovery during the 2020–2025 period, particularly for small and medium-sized enterprises and in sectors with high HDB involvement, such as retail. On average, for every €100 of new credit extended during the 2020–2025 period, €21 was provided with some HDB involvement. Higher HDB involvement was associated with lower business bankruptcy rates, especially during the pandemic crisis.