ABN AMRO acquires EUR 350 million in funding from the European Investment Bank (EIB). ABN AMRO will use this funding to provide loans to Dutch small and mediumsized enterprises (SMEs), creating additional opportunities for these companies to borrow money at an attractive rate.
This is the third time that ABN AMRO and the European Investment Bank have worked together to support investment by Dutch SME’s. The second loan amounted EUR 150 million. The last loans from this previous partnership to lend to SME clients were provided in January 2014.
Hans Hanegraaf, Managing Director Business Banking at ABN AMRO: "We are very happy that the European Investment Bank will provide us with this funding once again. It is important that SME’s have access to different sorts of credit facilities to finance their business plans. The EIB loan is an excellent option for our clients."
Pim van Ballekom, European Investment Bank Vice President: "Enabling continued investment by entrepreneurs across the Netherlands is essential to allow SME’s to benefit from new business opportunities, expand current activities and create jobs. The European Investment Bank is committed to working with local banks to support SME investment across Europe. We welcome the opportunity to continue this engagement with ABN AMRO and build on the success of previous support for lending that has enabled new investment by companies across the Netherlands that builds on the diverse strengths of Dutch SME’s."
The loan granted by the EIB enables companies to fully cover their investments, up to a maximum of EUR 12.5 million per project. More information on the EIB loan and the conditions can be found at www.eib.org or on this ABN AMRO webpage (Dutch only).
Last year the European Investment Bank provided EUR 21.9 billion for investment by SME and mid-cap companies across Europe. The European Investment Bank is owned by the 28 EU member states, including the Netherlands and support for SME lending is a key priority.