Brussels region agrees 250m euro credit line with Deutsche Bank
The Brussels-Capital Region has concluded a 250 million euro credit line with Deutsche Bank, with a term of three years and the possibility of extension. Finance and Budget minister Dirk De Smedt confirmed the move on Friday. Belfius has also granted the region a credit line of 50 million euro.
With these credit lines, the region has strengthened its liquidity position and created additional flexibility in day-to-day cash management, De Smedt said. At the same time, he said, it shows that financial institutions are again showing confidence in Brussels after a period of turbulence without a government.
"We are pursuing a consistent financial policy and taking steps towards stability. This is also recognised externally today"
Deutsche Bank is the first international bank to act as a lender for the region. “The entry of an international bank shows that confidence in Brussels is growing,” said De Smedt, of Flemish liberal party Anders. “We are pursuing a consistent financial policy and taking steps towards stability. This is also recognised externally today.”
The credit lines are part of a broader strategy in which the region is committed to solid finances and a stronger position on the financial markets, he said. Financial stability is a central objective of the legislature.
“These credit lines give us the necessary room to smoothly fulfil our obligations, while at the same time continuing to work on structural reforms and a healthy budget path,” De Smedt said.
Olivier Delfosse, chief country officer of Deutsche Bank Belgium, said the bank was determined to become the European leader in the banking sector, “with the ambition – in every country where we operate, including Belgium – to be the main financial partner for all the needs of major clients in the public and private sectors”.
Deutsche Bank headquarters in Frankfurt © PHOTO KIRILL KUDRYAVTSEV / AFP
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