The province of Groningen is pouring 25 million euros into the Fonds Nieuwe Doen, a local fund providing loans for liveability, care and energy initiatives.
RTV Noord reports that the fund was created last year and has already given out five million euros to businesses and institutions in the province. The money is intended for health (five million euros), liveability and energy initiatives (ten million euros each) that may struggle to obtain a loan from a bank.
“Anyone who has a good idea and is willing to roll up their sleeves can apply for funding”, says manager Geerten Eijkelenboom. “We want to be approachable and move quickly.”
Fonds Nieuwe Doen is a so-called “revolving fund”: loan recipients pay back their loan in instalments and that money is reinvested in the fund.