Dutch bankers to apply for more government support

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The Netherlands Banker's Association will apply for the government's 200-billion euro guarantee scheme soon.

THE NETHERLANDS – The Netherlands Banker's Association says it will soon apply for the government's 200-billion euro guarantee scheme.

The scheme is intended to reinforce lending to businesses. So far, very few financial institutions have made use of the scheme for fear of damaging their image.

The banks, the main employers' organisation and the branch organisation for small and medium-sized businesses have met to discuss the financial crisis and its consequences for the economy.

The organisations are calling on institutional investors such as pension funds to help maintain the granting of credit to businesses by investing in state-guaranteed bonds.

The banks are also asking Finance Minister Wouter Bos to adjust the guarantee scheme to include a longer maximum life for guaranteed loans.

[Radio Netherlands / Expatica]

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