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BSCI Participants Now Eligible For Positive Impact Loans in The Netherlands

Date

22 Jul 2016

Sections

Euro & Finance
Trade & Society

Brussels, 22 July 2016 – The Foreign Trade Association (FTA) said today that the best performing 25% of Dutch participants in its Business Social Compliance Initiative (BSCI) will now be able to qualify for the special ‘impact loan’ jointly launched by Rabobank and the European Investment Bank (EIB). BSCI has been chosen as one of the selection criteria for allocating a share of a €100 million tranche of fresh lending by the Dutch bank and the EIB to sustainable SMEs and mid-cap companies in the Netherlands to be used for a positive impact.

We are delighted to see this latest recognition of BSCI’s positive contribution, which also highlights the efforts of Dutch BSCI participants to become frontrunners in improving sustainability in their global supply chains” FTA Director General Christian Ewert said. “The choice of BSCI as one of the selection criteria for these grants adds yet further credibility to our work.

The launch of the new tranche follows the successful allocation of €50 million by Rabobank and EIB to Dutch entrepreneurs who are sustainability leaders in their sector, demonstrably engaged in CSR and possess one of the selected quality marks or criteria.

Applications for an impact loan must meet the normal conditions of the EIB and Rabobank. They are available for businesses with up to 3,000 employees. The total investment may not exceed €25 million and the loan principal is capped at €2.5 million.

BSCI was created in 2003 by FTA to support companies in their efforts to improve working conditions in supplying countries through a step by step approach that includes monitoring through social audits, training activities and dialogue with a broad range of stakeholders.

ENDS

Notes to Editors
The Business Social Compliance Initiative (BSCI) is a business-driven initiative that supports over 1,800 retailers, importers and brand companies to improve working conditions in factories and farms worldwide. BSCI offers companies, from multinationals to SMEs, one common Code of Conduct and a holistic system towards social compliance in the supply chain applicable to all sectors and sourcing countries. BSCI is an initiative of the Foreign Trade Association (FTA), a leading business association of global commerce that promotes the values of international trade and sustainable supply chains.

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For further information, please contact:
Ana Maria Martin
Media Relations and Editorial Planning Coordinator
ana.maria.martin@fta-intl.org
Tel: +32 (0)2 739 48 22

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