ING and the European Investment Bank have agreed an €800 million package to support small and medium-sized businesses and mid-sized companies in the Netherlands and Belgium with sustainability-related investments.
The funding will be split equally between a €400 million loan from the EIB to ING and a further €400 million provided by ING, the EIB announced on Wednesday.
Businesses will be able to apply for new loans and leases with lower interest rates to support more sustainable operations because of the terms attached to the EIB financing.
Of the total, €500 million will be made available to ING business customers in the Netherlands and €300 million to companies in Belgium.
Previous programmes since 2009
ING and the EIB have worked together on eight earlier programmes, under which more than 4,100 companies received financing totalling €2.85 billion since 2009.
The facility will become available to ING customers in the coming weeks, ING Belgium’s head of Business Banking Saskia Bauters said.
The scheme is intended for SMEs — small and medium-sized enterprises — and “mid-caps”, a term typically used for companies larger than SMEs but smaller than big corporations.
