The Hellenic Initiative (THI) has donated $50,000 to the Action Finance Initiative (AFI), Greece’s pioneering microfinance institution, empowering grassroots entrepreneurs and startups throughout Greece. AFI offers microloans up to €25,000 to support entrepreneurs in various sectors, especially in remote regions such as the Peloponnese, Dodecanese, Cyclades, and Crete. This grant will also fund a dedicated full-time employee to enhance AFI’s credit and Business Development Services (BDS) in these areas.

 

Since its inception, AFI has enabled over 850 marginalized individuals—many previously unemployed—to access financing, resulting in the creation of more than 1,000 new jobs through self-employment and entrepreneurial ventures. Additionally, AFI’s BDS programs have trained over 6,000 people in various entrepreneurship-related skills.

 

Founded in 2012, THI is a global non-profit organization that brings together Diaspora Greeks and Philhellenes to invest in Greece through programs focused on economic development and crisis relief. Since its founding, THI has invested more than $22,5 million in Greece, supporting promising startups, job creation, and the most effective philanthropic organizations.

 

AFI’s CEO Anastasia Tsiloglou highlighted the transformative power of microfinance: “Microfinance opens doors to success for motivated individuals. These entrepreneurs know their craft—they just need help with the numbers, business plans, and networking, which is where AFI steps in.” She added, “The beauty of microfinance is that it can turn dreams into reality. We’ve seen businesses that started with a microloan of 12-15k euros become successful enough to secure 200k business loans from major banks.” Tsiloglou expressed deep gratitude for THI’s continued support, emphasizing, “This is not the first time THI has supported us, and we are extremely thankful.”

 

George P. Stamas, THI’s Board President, stated, “The partnership between THI and AFI is a powerful example of how targeted support can drive meaningful change. By providing access to microloans and expert guidance, we are not only helping individuals realize their business dreams but also contributing to the broader economic revitalization of Greece.”

 

Andrew N. Liveris, THI’s Board Chairman, stated, “At THI, we believe in the potential of every entrepreneur, no matter how small their beginnings. AFI’s ability to transform once ‘unbankable’ individuals and firms into thriving enterprises is a testament to the power of microfinance.”