EU approves setting up new development bank in the Netherlands

EPA/MATTHIAS BALK

A bank employee holds 5,000 euros in 500-euro notes at a Sparkasse bank in Munich, Germany, 3 February 2016. Germany is considering imposing an upper limit on payments in cash as part of its fight against terrorism and money laundering.

EU approves setting up new development bank in the Netherlands


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The European Commission has approved Dutch plans to set up a new development bank “Invest-NL” with initial capital of up to € 2.5 billion. Its scope will target market failures in lending and capital markets.
The Dutch authorities will provide annual payments of € 10 million to the bank for providing advisory services on the development or improvement of certain financing schemes.
Invest-NL will focus on small and medium-sized enterprises and small-mid caps in the areas of research and development and renewable energy projects.

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