Brussels-Capital Region secures 250 million euro credit line with BBVA

The Brussels-Capital Region has secured a new 250 million euro credit line with the Spanish bank BBVA, according to Regional Finance Minister Dirk De Smedt. This move is part of a strategy to diversify the region's financing base and strengthen its liquidity reserves.

This new agreement brings the region's total available credit lines to 1.25 billion euros. The current credit structure includes 250 million euros from Deutsche Bank, a 500 million euro line from ING renewed in March, and a 250 million euro line from Belfius, which was recently increased from 50 million euros.

The strengthening of the financial position follows a period of uncertainty late last year when the absence of a government led to the evaporation of two credit lines. De Smedt noted that the region's position is significantly stronger than last year, having moved from a dependence on two Belgian banks to having four credit lines with different lenders. This reinforcement comes ahead of an upcoming credit rating publication by Standard & Poor's expected in late September.