The Brussels-Capital Region has concluded a 250-million-euro credit line deal with Deutsche Bank. The credit line agreement is for 3 years with the possibility of an extension if necessary. The new credit line agreement was confirmed by the Brussels regional budget and finance minister Dirk Desmedt (Flemish liberal) on Friday. The bank Belfius has also granted the Brussels-Capital Region a credit line of 50 million euro.
According to Mr De Smedt, the credit lines strengthen the Brussels-Capital Region’s liquidity position and create additional flexibility in its day-to-day cash management.
The regional budget and finance minister added that the credit line agreement shows that financial institutions are again showing confidence in Brussels after a period of turbulence while the region was without a government.
First international lender
Deutsche Bank is the first international bank to act as a lender for the Brussels-Capital Region. “The entry of an international bank shows that confidence in Brussels is growing,” Mr De Smedt. “We are pursuing a consistent financial policy and taking steps towards stability.”
“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”, Mr De Smedt said.
Deutsche Bank’s Chief Country Officer Belgium Olivier Delfosse said that 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”.