ABN AMRO and European Investment Bank sign EUR 250m for SMEs

Press release -

Cows eating grass

The European Investment Bank (EIB) and ABN AMRO have signed a new loan agreement, the fourth collaboration under the joint “SME funding programme. The EIB will lend EUR 250 million to ABN AMRO, so that it can be on-lent to SMEs at reduced interest rates.

Through Dutch dairy cooperative FrieslandCampina, part of the money will be made available to dairy farmers who want to invest in a manure fermentation plant via the “Jumpstart” cooperative. This installation allows manure to be transformed into energy. 

The further goal of the collaboration is to make cheaper financing available for Dutch small and medium sized enterprises. The cheaper EIB funding can be used, under specific conditions, to a maximum of EUR 12,5 million per investment project. The financing policies of the bank remain unchanged within this framework.

“The facility is meant for small companies as well as mid-caps, and at least 20% of the available financing is earmarked for sustainability projects.” says EIB Vice President Pim van Ballekom. “That is also why we are very pleased with the FrieslandCampina’s collaboration under this agreement, as our earlier cooperation has shown how serious they are about climate. Their 2016 initiative to cut back greenhouse emissions by dairy farms through its “Jumpstart” cooperative, is completely in-line with the sustainability targets of the EIB.”

Daphne de Kluis, ABN AMRO’s CEO Commercial Banking adds: “we are very happy with the continuation of our longstanding collaboration with the EIB as well as the financing of dairy farmers under this agreement. For us, the 20% in sustainable projects is a minimum limit. We strive to make a large portion of the facility available to our most sustainable clients and projects. That way, we accelerate even further in the way ABN AMRO contributes to financing the circular economy.”

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