ANNOUNCEMENT 28 Feb 2019

In February 2019, the European Investment Bank (EIB) and ING signed a loan agreement with Spliethoff's Bevrachtingskantoor B.V. to support its investments in retrofitting 42 vessels with ballast water management and exhaust gas cleaning systems.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Project summary: https://www.eib.org/en/projects/pipelines/all/20180439
The European Investment Bank, Financed Projects, SPLIETHOFF SHIPPING RETROFIT: https://www.eib.org/en/projects/loan/loan/20180439
The European Investment Bank, press release of 18 February 2019, Investment Plan for Europe: ING and EIB provide EUR 110m for Spliethoff’s Green Shipping investments: https://www.eib.org/en/infocentre/press/releases/all/2019/2019-062-investment-plan-for-europe-ing-and-eib-provide-eur-110m-for-spliethoffs-green-shipping-investments.htm
Spliethoff: https://www.spliethoff.com/

Inception date: 28 Feb 2019 | Removal date: open ended

State loan

The loan agreement between the European Investment Bank (EIB) and ING and Spliethoff's Bevrachtingskantoor B.V. was signed on 28 February 2019. Under the loan agreement, the EIB will provide financing having a total value of EUR 49.5 million (approx. USD 56.3 million).

The loan will support the company's investments in retrofitting 42 vessels with ballast water management and exhaust gas cleaning systems.

In this context, the Global Head of ING Shipping Stephen Fewster stated: "Sustainability is an important strategic priority for ING. As a bank, we make the most impact through our financing. Therefore we are very proud to partner with the EIB to provide financing to Spliethoff to support their transition to a more sustainable business model while also meeting increasing environmental standards."

The loan is issued under the EIB-ING Green Shipping Partnership facility, see related state act. 

Spliethoff Group has its headquarters in the Netherlands and is a cargo transport company. The company operates a fleet of around 100 vessels and manages trade routes worldwide.  

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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