OREANDA-NEWS. The European Investment Bank (EIB) is making EUR 350 million available for investment by small and medium-sized enterprises in the Netherlands, Belgium and Luxembourg. For businesses in these countries the EIB’s involvement means that they benefit from a lower interest rate.

“It is very important for small businesses throughout Europe to have access to funds with which they can finance their investments and achieve growth," says Pim van Ballekom, EIB Vice-President responsible for lending operations in Belgium, the Netherlands and Luxembourg. “Despite the fact that the economy is picking up again, often, access to credit is still an obstacle for SMEs in the Benelux. By making loans available to SMEs, these businesses can benefit from our excellent credit position as the EU bank. In cooperation with banking partners such as ING, we pass our advantageous AAA rating on by providing more, cheaper and longer-term loans. This is one of the ways in which the EIB, in cooperation with the local banking sector, is offering SMEs a helping hand.”

With the financing supported by the EIB, individual firms’ investment costs can be covered for 100%, up to a maximum of EUR 12.5 million per project. As part of the agreement, ING will double the loan amount to SMEs, which brings the total credit injection for the sector to EUR 700 million.