EU bank bets big on Dutch small businesses
The European Investment Bank (EIB) will make 350 million euros available for loans to small and medium-sized enterprises in the Netherlands, Belgium, and Luxembourg, through a special loan program with the ING, a global financial institution that provides banking, investment, life insurance, and pension services. The news was announced by the ING Thursday.
210 million euros will be reserved for the Netherlands and 140 million for Belgium and Luxembourg.
The loans will be capped at 12.5 million per project at an appealing low interest rate.
With a total amount of 1.3 billion euros involved, the ING expects to be able to accommodate around 2.400 businesses with this round of loans included. It's the fifth time in four years for the EIB to facilitate loans for the small and medium-sized businesses in the Benelux countries.