EU countries by composite cost of borrowing for non-financial corporations, August 2026

Latvia had the highest composite cost of borrowing for non-financial corporations of 21 EU countries in August 2026, at 5.75%. The Netherlands had the lowest, at 2.97%. The median was 4.06%. Source: the European Central Bank.

Highest5.75Latvia

Lowest2.97Netherlands

Median4.0621 EU countries

All EU countries, August 2026

%. Source: ECB, ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). Retrieved 2026-10-12.

Full ranking

Rank	EU countries	August 2026 (%)	Change on August 2025
1	Latvia	5.75	+1.5 pts
2	Lithuania	5.03	+0.23 pts
3	Estonia	4.69	-0.01 pts
4	Slovakia	4.48	+0.38 pts
5	Greece	4.44	+0.53 pts
6	Malta	4.37	+0.26 pts
7	Slovenia	4.33	+0.41 pts
8	Ireland	4.3	-0.23 pts
9	Portugal	4.24	+0.53 pts
10	Finland	4.16	+0.52 pts
11	Croatia	4.06	+0.38 pts
12	Bulgaria	4.05	n/a
13	Germany	3.88	+0.35 pts
14	Belgium	3.86	+0.4 pts
15	Italy	3.85	+0.36 pts
16	Cyprus	3.83	-0.31 pts
17	Austria	3.74	+0.27 pts
18	France	3.7	+0.34 pts
19	Spain	3.63	+0.32 pts
20	Luxembourg	3.17	+0.18 pts
21	Netherlands	2.97	-0.09 pts

Other periods

About this ranking

Monthly composite interest rate on new bank loans to non-financial corporations, in percent per year. Rates across corporate loan categories are combined using 24-month moving averages of new loan volumes.

Annualised agreed rates or narrowly defined effective rates (AAR/NDER) exclude fees and other charges. Corporations are non-financial companies, ESA 2010 sector S.11; the classification changed in December 2014. The euro area aggregate has changing membership. Country histories start at different dates; values may be revised.

Every value in the ranking comes from the same publisher and the same period, so the EU countries are compared on one definition. Equal values share a rank.

How to cite

European Central Bank. ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01. Retrieved 2026-10-12.

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

European Central Bank. (n.d.). ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N) (EU countries by composite cost of borrowing for non-financial corporations, 2026-08) [Data set]. Retrieved October 12, 2026, from https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01

MLA 9

ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N), EU countries by composite cost of borrowing for non-financial corporations, 2026-08. European Central Bank, https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01. Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries. Accessed 12 Oct. 2026.

Chicago (author-date)

European Central Bank. n.d. ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). EU countries by composite cost of borrowing for non-financial corporations, 2026-08. Dataset. Accessed October 12, 2026. https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01. Also distributed by Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries.

Harvard

European Central Bank (no date) ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N), EU countries by composite cost of borrowing for non-financial corporations, 2026-08 [Dataset]. Available at: https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01, via Invokely: https://invokely.ai/rankings/business-borrowing-cost/eu-countries (Accessed: 12 October 2026).

BibTeX

@misc{european_eu_countries_by_composite_2026,
  author = {{European Central Bank}},
  title = {{ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N): EU countries by composite cost of borrowing for non-financial corporations, 2026-08}},
  howpublished = {Data set},
  url = {https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries. Publisher attribution: European Central Bank. ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata\&startPeriod=2003-01. Retrieved 2026-10-12.},
}

RIS

TY  - DATA
AU  - European Central Bank
TI  - ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N): EU countries by composite cost of borrowing for non-financial corporations, 2026-08
PB  - European Central Bank
DB  - Invokely
UR  - https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01
L2  - https://invokely.ai/rankings/business-borrowing-cost/eu-countries
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries.
N1  - Publisher attribution: European Central Bank. ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). https://data-api.ecb.europa.eu/service/data/MIR/M.AT+BE+BG+CY+DE+EE+ES+FI+FR+GR+HR+IE+IT+LT+LU+LV+MT+NL+PT+SI+SK+U2.B.A2I.AM.R.A.2240.EUR.N?format=csvdata&startPeriod=2003-01. Retrieved 2026-10-12.
ER  -

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Questions

Which EU country has the highest composite cost of borrowing for non-financial corporations?

Latvia, with 5.75% in August 2026, according to the European Central Bank.

Which EU country has the lowest composite cost of borrowing for non-financial corporations?

The Netherlands, with 2.97% in August 2026.

Where does this ranking come from?

Every value comes from one source and one period, so the places are comparable: European Central Bank, ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). Retrieved 2026-10-12.