ANNOUNCEMENT 08 Dec 2020
In December 2020, the EIB provided ING Bank credit lines to support SMEs and mid-caps affected by COVID-19 in the Benelux countries with new lending.
NUMBER OF INTERVENTIONS
The European Investment Bank, Project summary, ING BANK COVID19 ENHANCED SME AND MIDCAP SUPPORT: https://www.eib.org/en/projects/pipelines/all/20200252
The European Investment Bank, Financed Projects, ING BANK COVID19 ENHANCED SME AND MIDCAP SUPPORT: https://www.eib.org/en/projects/loans/all/20200252
On 8 December 2020, the European Investment Bank (EIB) and ING Bank N.V. signed a credit line agreement with a total volume of EUR 340 million (approx. USD 412 million). The financing will support SMEs and mid-caps in the Benelux countries (comprised of Belgium, the Netherlands, Luxembourg), focusing on enterprises affected by the COVID-19 pandemic.
Distinct credit lines were provided as follows: (i) for the Netherlands EUR 170 million (approx. USD 206 million), (ii) for Belgium EUR 153 million (approx. USD 185 million) and (iii) for Luxembourg EUR 17 million (approx. USD 20.6 million).
ING Bank NV is a member of ING Group (Internationale Nederlanden Groep), a multinational banking and financial services provider group, headquartered in Amsterdam. The EIB and ING have concluded a similar credit line agreement before, see related state act.
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 credit line granted here is discriminatory.