KBC and EIB Launch €600 Million Facility to Support Sustainability Investments for Belgian SMEs
KBC and the European Investment Bank (EIB) have announced a new €600 million financing facility to enhance access to funds for small and medium-sized enterprises (SMEs) in Belgium. The partnership will allow Belgian businesses to invest in sustainability efforts, including renewable energy, energy efficiency, and climate-focused projects, addressing the increasing demand for eco-friendly practices.
The EIB provides a €300 million loan, which KBC matches with €300 million, creating a €600 million facility. This collaboration expands financial resources for Belgian SMEs, enabling affordable financing for projects aimed at reducing environmental impact. KBC will manage the distribution of the loans, with the final decisions on funding remaining under its control.
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Robert de Groot, EIB Vice-President said, "Partnerships like this one with KBC are essential for advancing the EIB's goal of supporting SMEs."
He added, "This collaboration ensures that Belgian SMEs are better able to seize new opportunities. By providing accessible and affordable financing, we empower them to grow and innovate, while also contributing to a greener and more resilient economy."
SMEs across Belgium will have access to the financing, with 20% of the funding earmarked for businesses in cohesion regions. These regions typically include areas with lower economic development, ensuring the facility benefits are spread throughout the country.
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The facility will help Belgian businesses finance sustainability projects, including water recycling, renewable energy, energy efficiency, and transport solutions. These efforts are vital for tackling climate change and helping companies minimize their environmental impact.
The EIB and KBC have worked together since the 1990s, offering more than €2.3 billion in financing. This new initiative deepens their long-standing partnership, reaffirming their commitment to fostering sustainable economic growth in Belgium.
