(IN BRIEF) Triodos Bank has received up to €67 million in loans from the European Investment Fund (EIF) for social enterprises in Belgium, Germany, Spain, and the Netherlands. The loan is backed by the InvestEU program and will allow Triodos Bank to support socially impactful businesses that have difficulty accessing traditional bank financing. The facility offers loans at a reduced interest rate and lower collateral requirements, and will support a wide range of sectors, including social care, employment programs for disadvantaged workers, healthy food production, cultural arts, and more. Triodos Bank and EIF have a long-standing partnership, with this being the third agreement totaling up to €397 million in guaranteed lending for social and cultural enterprises.
(PRESS RELEASE) LUXEMBOURG, 31-Jan-2023 — /EuropaWire/ — The European Investment Fund (EIF), part of the European Investment Bank Group and established to support Europe’s micro, small and medium-sized enterprises (SMEs), is proud to announce its support for Triodos Bank with a loan of up to €67 million. This loan, backed by the InvestEU program, will help Triodos Bank finance social enterprises in Belgium, Germany, Spain, and the Netherlands.
Through this partnership with Triodos Bank, the EIF is able to provide financial support to businesses with a positive social impact that would otherwise have difficulty accessing normal bank financing. Social entrepreneurs will benefit from reduced interest rates and lower collateral requirements, making it easier for them to reach their goals. The facility covers a wide range of sectors, including social care, employment programs, healthy food production, cultural arts, and more.
The European Investment Fund (EIF) and Triodos Bank have long been working together to support social enterprises and the cultural and creative sector. The two have signed three agreements that total up to €397 million in guaranteed lending to these sectors.
The partnership between the EIF and Triodos Bank began in 2018 when they signed the first Social Entrepreneurship guarantee agreement in the Netherlands under the EU Programme for Employment and Social Innovation. Since then, Triodos Bank has signed 635 transactions in the Netherlands, Belgium, and Spain under the agreement.
In 2021, the partnership was extended with an agreement to offer financial support of up to €200 million to the cultural and creative sector. Since then, Triodos Bank has signed 220 transactions under the guarantee facility.
The EIF and Triodos Bank’s cooperation underscores their commitment to supporting social enterprises and the cultural and creative sector, which play a vital role in local communities and economies. The continued partnership will help these sectors grow and thrive, even during challenging economic times.
Jacco Minnaar, Chief Commercial Officer at Triodos Bank: “At Triodos Bank, financing social entrepreneurship, in the broadest possible definition, is our core business. With the support of the EIF we can now empower more entrepreneurs to add value to society and accelerate the necessary transitions towards a more prosperous life for people on a thriving planet. The success of the agreements with the EIF shows that public and private partnerships can have a great positive impact on society. We look forward continuing our work together with the EIF.”
“This is not the first collaboration between Triodos and the EIF, and for good reason.” says Marjut Falkstedt, Chief Executive of the European Investment Fund. “Social enterprises in various sectors play a very important, yet often overlooked, role in our societies. They help to make our economies open, and fair for everyone. I’m glad we can continue our support for Triodos so that these valued SMEs can continue to grow.”
Commissioner for Jobs and Social Rights, Nicolas Schmit, said: “InvestEU is playing an important role in mobilising investments in the social economy. With this agreement, social enterprises in the Netherlands, Belgium, Spain and Germany will get access to the finance they need to make a real and lasting impact in their communities.”
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.
The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small businesses. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.
Founded in 1980, Triodos Bank has become a front runner in sustainable banking globally. Triodos Bank is an independent bank that promotes responsible and transparent banking. It does not see any conflict between a focus on people and the planet and a good financial return. Instead, it believes that they reinforce each other in the long-term. Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values, a network of 60 sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.Triodos Bank N.V. has a full banking licence and is registered with De Nederlandsche Bank N.V. (the Dutch central bank) and the Autoriteit Financiële Markten (the Dutch Authority for the Financial Markets). Most recent company information is available on Triodos Bank’s website: www.triodos.com
Press contacts:
EIB Group: Tim Smit, t.smit@eib.org, tel.: +352 43 79 89076; mobile: +352 691 28 64 23
Website: www.eib.org/press — Press Office: +352 4379 21000 — press@eib.org
European Commission: Flora Matthaes, tel.: +32 229 83951, flora.matthaes@ec.europa.eu, https://investeu.europa.eu, #InvestEU
Triodos Bank: Marcel Proos
SOURCE: European Investment Fund
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