Data / Rankings / Composite cost of borrowing for non-financial corporations / EU countries

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

Ireland had the highest composite cost of borrowing for non-financial corporations of 20 EU countries in October 2025, at 4.94%. The Netherlands had the lowest, at 2.97%. The median was 3.67%. Source: the European Central Bank.

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Highest4.94Ireland
Lowest2.97Netherlands
Median3.6720 EU countries

Map of EU countries, October 2025

Austria: 3.53 %Belgium: 3.48 %Cyprus: 3.7 %Germany: 3.64 %Estonia: 4.73 %Spain: 3.29 %Finland: 3.42 %France: 3.39 %Greece: 3.87 %Croatia: 3.49 %Ireland: 4.94 %Italy: 3.61 %Lithuania: 4.48 %Luxembourg: 3.24 %Latvia: 4.36 %Malta: 4.31 %Netherlands: 2.97 %Portugal: 3.78 %Slovenia: 3.7 %Slovakia: 4.05 %
  • Under 3.4
  • 3.4 to 3.6
  • 3.6 to 3.7
  • 3.7 to 4.3
  • 4.3 and over
  • No data
%, October 2025. Hatched areas have no value for this period. Source: ECB, ECB MIR composite cost of borrowing for non-financial corporations, new business (A2I.AM.R.A.2240.EUR.N). Boundaries: Natural Earth (public domain).

All EU countries, October 2025

Ireland: 4.94 %Ireland4.94Estonia: 4.73 %Estonia4.73Lithuania: 4.48 %Lithuania4.48Latvia: 4.36 %Latvia4.36Malta: 4.31 %Malta4.31Slovakia: 4.05 %Slovakia4.05Greece: 3.87 %Greece3.87Portugal: 3.78 %Portugal3.78Cyprus: 3.7 %Cyprus3.7Slovenia: 3.7 %Slovenia3.7Germany: 3.64 %Germany3.64Italy: 3.61 %Italy3.61Austria: 3.53 %Austria3.53Croatia: 3.49 %Croatia3.49Belgium: 3.48 %Belgium3.48Finland: 3.42 %Finland3.42France: 3.39 %France3.39Spain: 3.29 %Spain3.29Luxembourg: 3.24 %Luxembourg3.24Netherlands: 2.97 %Netherlands2.97Ireland: 4.94 %Ireland4.94Estonia: 4.73 %Estonia4.73Lithuania: 4.48 %Lithuania4.48Latvia: 4.36 %Latvia4.36Malta: 4.31 %Malta4.31Slovakia: 4.05 %Slovakia4.05Greece: 3.87 %Greece3.87Portugal: 3.78 %Portugal3.78Cyprus: 3.7 %Cyprus3.7Slovenia: 3.7 %Slovenia3.7Germany: 3.64 %Germany3.64Italy: 3.61 %Italy3.61Austria: 3.53 %Austria3.53Croatia: 3.49 %Croatia3.49Belgium: 3.48 %Belgium3.48Finland: 3.42 %Finland3.42France: 3.39 %France3.39Spain: 3.29 %Spain3.29Luxembourg: 3.24 %Luxembourg3.24Netherlands: 2.97 %Netherlands2.97
%. 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

RankEU countriesOctober 2025 (%)Change on October 2024
1Ireland4.94-0.19 pts
2Estonia4.73-1.41 pts
3Lithuania4.48-1.16 pts
4Latvia4.36-1.97 pts
5Malta4.31-0.6 pts
6Slovakia4.05-1.26 pts
7Greece3.87-1.35 pts
8Portugal3.78-0.96 pts
9Cyprus3.7-1.17 pts
9Slovenia3.7-1.14 pts
11Germany3.64-1.3 pts
12Italy3.61-1.22 pts
13Austria3.53-1.11 pts
14Croatia3.49-0.99 pts
15Belgium3.48-1.13 pts
16Finland3.42-0.9 pts
17France3.39-1 pts
18Spain3.29-1.05 pts
19Luxembourg3.24-0.83 pts
20Netherlands2.97-1.02 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. 1 EU countries with data in other periods have no value for October 2025 and are left out rather than filled from another source. 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, 2025-10) [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, 2025-10. 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?period=2025-10. 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, 2025-10. 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?period=2025-10.

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, 2025-10 [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?period=2025-10 (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, 2025-10}},
  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?period=2025-10. 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, 2025-10
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?period=2025-10
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries?period=2025-10.
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?

Ireland, with 4.94% in October 2025, 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 October 2025.

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. 1 EU countries have no value for October 2025 and are not ranked.

EU countries: more rankings