On June 30th, 2020, law 4701/2020 on microcredit institutions entered into force (MC Law), providing for the establishment and operation of non-banking institutions authorized to grant microcredit. You may find law 4701/2020, as published in Greek on the Official Government Gazette (ΦΕΚ 128/Α/30-6-2020), here. The MC Law is intended to address the increased need for micro-financing in the Greek market, particularly in the aftermath of the pandemic and the related lockdown measures.

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