The European Investment Fund has signed a guarantee agreement with Triodos Bank that will allow up to €200 million in loans to entrepreneurs in the creative and cultural sectors. Since the financial institution operates in Belgium, this could benefit out local game studios as well.
Triodos Bank is an ethical bank based in the Netherlands and primarily finances companies which it believes add cultural value and benefit both people and the environment.
Similar to the earlier deal with PMV and ST’ART, the goal of this Creative Europe incentive is to provide extra financial support for micro-businesses and medium-sized enterprises (SME’s) in the cultural and creative sectors, which often face difficulties in accessing affordable debt financing for their projects.
This implies it might get easier for Belgian game studios to secure initial funding, which hopefully will result in a leverage to explore more varied financing options.
We applaud the efforts of the EU to throw the cultural and creative sectors an extra lifeline in the wake of COVID-19 and sincerely hope that the Belgian gamesector will look into this opportunity to kick off more projects while being able to keep their studio in good financial health.