The Brussels Region has concluded an agreement with ING giving it access to a credit line of 500 million euros, Dirk De Smedt (Anders), Brussels Minister of Finance, announced on Wednesday. This facility, for a renewable period of two years, reinforces the flexibility of cash management in the Capital Region.
This information comes a few days after the announcement of the opening by the Region of a credit line of 250 million euros with Deutsche Bank. This extends over three years, also renewable. Previously, Belfius had granted a credit line of 50 million euros.
According to Minister De Smedt, ING’s assessment is based on factual parameters such as liquidity, financial planning and the borrower’s repayment capacity. Based on this analysis, the bank now notes that the short-term liquidity of the Brussels-Capital Region is sufficiently solid, he said.
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Brussels has recently had a full-fledged government, after a record period of management in current affairs. The Brussels Parliament gave the green light last Friday to the draft regional budget for the current year.
“The resumption of collaboration with a financial player as important as ING is a clear signal that Brussels is once again considered a reliable partner. This line of credit gives us the flexibility necessary to properly honor our commitments, while strengthening the foundations of our financial management“, commented Minister De Smedt.
For Saskia Bauters, Head of Business Banking Belgium at ING Belgium, this credit line once again confirms “the bank’s commitment, as a Belgian universal bank, to offer solid financing solutions to the public sector. In addition to our role as the preferred partner of entrepreneurs, we also wish to be the preferred partner of the public sector“.
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Belgian
