European Commission Directorate General for Inte : EIB Group supports micro-financing in the Netherlands

A new agreement under the Investment Plan for Europe is estimated to benefit at least 7,500 small entrepreneurs in the Netherlands. The COSME agreement will allow around 670 micro-enterprises to benefit from additional financing at favourable conditions.

The European Investment Bank Group (EIB and EIF) will support Dutch micro-finance institution Qredits in giving very small businesses in the Netherlands access to finance.

The European Investment Bank has agreed a €100 million loan facility with Qredits. The European Investment Fund has also signed an agreement with Qredits to cover part of the credit risk of new loans for micro-businesses worth €25 million under theCOSME programme. Both operations are backed by the guarantee of the European Fund for Strategic Investments (EFSI), the heart of the Juncker Commission's Investment Plan for Europe.

It is estimated that at least 7,500 small entrepreneurs in the Netherlands will be able to benefit through the new loan facility. The COSME agreement will make it possible for Qredits to support additional financing at favourable conditions to around 670 micro-enterprises and SMEs.

European Commissioner Marianne Thyssen said:

'Boosting investment - especially in start-ups and SMEs - is a key pre-condition to boost economic growth and create jobs. With EFSI, the €315 billion Investment Plan for Europe, and our Better Regulation Agenda we are not only supporting the backbone of our economy but we are also sending out a message that Europe is a good place to invest in. With Qredits we want to support all those entrepreneurs who dare to challenge the status quo and provide them the best conditions for establishing or developing their business and recruit new employees.'

More information

Full press release

Businesses can contact selected financial institutions in their country to access EU financing. See www.access2finance.eu