Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
ING Bank
ING Bank - Credit: Photo: wujekspeed/DepositPhotos / DepositPhotos - License: DepositPhotos
Business
ING
EIB
European Investment Bank
SME
low interest rate
loan guarantee
EU
Paolo Gentiloni
European Commission
Ruud van Dusschoten
Sunday, 13 December 2020 - 08:45
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

ING to give €1.1 billion in cheap loans to SMEs, to help limit Covid damage

The European Investment Bank (EIB) and Dutch bank ING came to an agreement which will allow the Dutch bank to offer new, cheap loans to small and medium sized companies, in an effort to help limit the impact of the coronavirus crisis, the banks announced on Thursday.

The EIB will guarantee almost 800 million in existing ING loans. In return, ING will provide 1.1 billion euros in new loans to SMEs. 702 million euros of that amount will be loaned at an extra low interest rate.

“In the next phase of the Covid-19 crisis, it is even more important to stimulate Dutch companies with a sound market and financial position to resume their investment programs again and seek new growth opportunities," ING CEO Ruud van Dusschoten said.

Paolo Gentiloni, European Commissioner for the Economy, is pleased that this deal will help SMEs, which were especially affected by the pandemic and traditionally have a harder time accessing bank financing.

"Thanks to the EIB Group guarantee backed by the Investment Plan for Europe, ING will unlock significant additional lending for Dutch SMEs. This is a further clear sign of our commitment to help businesses of all sizes to get through this difficult period," he said

Follow us:

Latest stories

  • Body found after fire in Arnhem neighborhood; 7 homes uninhabitable
  • Politicians dumping TikTok after election campaigns over privacy concerns
  • Flags flying half-mast as Netherlands commemorates 1953 flood disaster
  • Catering sector to blacklist people who misbehave in clubs, bars
  • Education Min. adjusting rules to limit influx of international students
  • Inflation dropped to 7.6 percent in January

Top stories

  • Catering sector to blacklist people who misbehave in clubs, bars
  • Education Min. adjusting rules to limit influx of international students
  • Inflation dropped to 7.6 percent in January
  • Cabinet may use Lelystad Airport, empty churches to shelter asylum seekers & refugees
  • Netherlands named 8th least corrupt nation in annual review, but issues remain
  • Dutch human rights institute critical of “disproportionate” arrest of climate protesters

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content