Release date: 23 February 2023
Promoter – Financial Intermediary
ING ASSET FINANCE BELGIUM NV,ING BANK NV,ING BELGIQUE,ING EQUIPMENT LEASE BELGIUM NV,ING LEASE (NEDERLAND) BV,ING LEASE BELGIUM NV,ING LEASE LUXEMBOURG SA,ING LUXEMBOURG,ING TRUCK LEASE BELGIUM NVLocation
Description
The operation will finance sustainable projects, including climate action, carried out by small and medium sized enterprises (SMEs) and Midcaps across Belgium, the Netherlands and Luxembourg (Benelux).
Additionality and Impact
The project supports the financing of small-scale projects carried out by SMEs and Mid-Caps across the Benelux with high relevance in terms of sustainability. The project has a very good policy contribution as it addresses access to finance for SMEs and Mid-Caps with a focus on Climate Action & Environmental Sustainability. The operation is a further step in the implementation of the Climate Action & Environmental Sustainability via financial intermediaries, targeting a specific sub-segment of SME/Mid-Cap lending.
The financially sound Intermediary is well placed and has a positive track record of implementing such projects. The facility is expected to offer a strong contribution to maintaining employment
as it is expected to support a large number of smaller loans and leases for SMEs and Mid-Caps. The EIB contribution has been a cornerstone to ING's lending programme for sustainable SME/Mid-Cap projects in the Benelux.
The EIB's involvement also sends a strong signal to the market on the need to support CA&ES and sustainability investments, crowding in other investors. EIB's cooperation and engagement with the financial intermediaries also aids in facilitating the transition to greener financing.
Objectives
The aim is to enhance access to finance for SMEs and Midcaps in Benelux.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 27/06/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).