Rabobank, DLL, and the European Investment Bank are partnering to increase access to finance for SMEs and mid-caps with a particular emphasis on sustainability and bioeconomy sectors, including agriculture.
Rabobank will borrow €250 million from the EIB and match this amount with its own funds, making €500 million available to support small-scale projects undertaken by Dutch SMEs and mid-caps, with a focus on sustainability and agriculture. Specifically, at least 40% of investments are earmarked for climate-relevant investments, and at least 40% of the available funding will be directed towards bioeconomy sectors, including agriculture.
DLL has secured an additional €250 million, which it will also match with its own funds, aiming to improve access to finance for SMEs and mid-caps across the EU. The focus will be on France, Germany, Italy, Spain, Belgium, Sweden, Poland, Ireland, and the Netherlands, targeting investments in sustainability by local companies.
In total, the combined EIB loans as well as Rabobank and DLL’s matching funds will make €1 billion in new funding available for SMEs and mid-caps, with a particular focus on financing climate-relevant and agricultural projects.
“It is important to understand that climate financing is a key driver of economic growth,” states EIB Vice President Robert de Groot. “We have to look at the bigger picture, which is that climate change is disrupting business and economic behaviours. We have a long track-record with Rabobank and DLL in terms of climate relevant financing, and hope that this facility can convince other financiers to make available more support for entrepreneurs developing more sustainable projects.”
Carlo van Kemenade, Director Retail NL and Member of the Managing Board of Rabobank: “We are proud to build on the successful partnership with the EIB and the new launch of impact loans. Sustainability is an important pillar of Rabobank’s strategy. Clients are also very positive about this impact loan. The interest rate discount is both a reward for the impact they have as a leader in sustainability and an encouragement to continue on the path we have set with our clients.”
“As a transition partner for a better world, DLL believes that sustainability is fundamental to long-term business success,” says Lara Yocarini, Member of the Managing Board, Rabobank, and CEO and Chair of the Executive Board of DLL. “The attractive funding from the European Investment Bank will enhance our ability to provide more accessible, affordable, and tailored leasing solutions, ultimately reducing barriers for our partners and customers to invest in more sustainable equipment and technology.”
The attractive funding from the European Investment Bank will enhance our ability to provide more accessible, affordable, and tailored leasing solutions, ultimately reducing barriers for our partners and customers to invest in more sustainable equipment and technology.”
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. Over the last ten years, the EIB has made available more than €27 billion in financing for Dutch projects in various sectors, including research & development, transport, drinking water, healthcare, and SMEs.
The EIB is the European Union’s bank; the only bank owned by and representing the interests of the European Union Member States, The Netherlands owns a 5,2% share of the EIB. It works closely with other EU institutions to implement EU policy and is the world’s largest multilateral borrower and lender. The EIB provides finance and expertise for sustainable investment projects that contribute to EU policy objectives. More than 90% of its activity is in Europe.
