The European Investment Bank (EIB) and the ING Bank are providing small and medium-sized enterprises in the Benelux countries with €600 million in new loans, ING said in a statement on Tuesday.
The loans are meant to help SMEs in Belgium, the Netherlands and Luxembourg to strengthen their viability for new investments that have a positive impact on the climate and the environment.
The EIB is lending €300 million to ING, which will provide an equivalent amount to grant a total of €600 million in new loans and leases to entrepreneurs for sustainable investments.
The EIB loan to ING enables the bank to provide loans and leases at a lower interest rate.
Since 2009, this is the eighth EIB/ING joint programme for SMEs based in the Benelux countries.
It is also the second programme aimed at boosting sustainability since 2019.
Under the seven previous programmes, some 3,000 companies have received €1.85 billion in loans on favourable terms.