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

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

Latvia had the highest composite cost of borrowing for non-financial corporations of 20 EU countries in November 2025, at 4.84%. The Netherlands had the lowest, at 2.92%. The median was 3.57%. Source: the European Central Bank.

Keep it in a collection in your library.
Highest4.84Latvia
Lowest2.92Netherlands
Median3.5720 EU countries

Map of EU countries, November 2025

Austria: 3.39 %Belgium: 3.46 %Cyprus: 4.33 %Germany: 3.59 %Estonia: 4.71 %Spain: 3.35 %Finland: 3.53 %France: 3.43 %Greece: 4.1 %Croatia: 3.4 %Ireland: 3.55 %Italy: 3.62 %Lithuania: 4.74 %Luxembourg: 3.22 %Latvia: 4.84 %Malta: 4.48 %Netherlands: 2.92 %Portugal: 3.77 %Slovenia: 3.37 %Slovakia: 4.2 %
  • Under 3.4
  • 3.4 to 3.5
  • 3.5 to 3.7
  • 3.7 to 4.4
  • 4.4 and over
  • No data
%, November 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, November 2025

Latvia: 4.84 %Latvia4.84Lithuania: 4.74 %Lithuania4.74Estonia: 4.71 %Estonia4.71Malta: 4.48 %Malta4.48Cyprus: 4.33 %Cyprus4.33Slovakia: 4.2 %Slovakia4.2Greece: 4.1 %Greece4.1Portugal: 3.77 %Portugal3.77Italy: 3.62 %Italy3.62Germany: 3.59 %Germany3.59Ireland: 3.55 %Ireland3.55Finland: 3.53 %Finland3.53Belgium: 3.46 %Belgium3.46France: 3.43 %France3.43Croatia: 3.4 %Croatia3.4Austria: 3.39 %Austria3.39Slovenia: 3.37 %Slovenia3.37Spain: 3.35 %Spain3.35Luxembourg: 3.22 %Luxembourg3.22Netherlands: 2.92 %Netherlands2.92Latvia: 4.84 %Latvia4.84Lithuania: 4.74 %Lithuania4.74Estonia: 4.71 %Estonia4.71Malta: 4.48 %Malta4.48Cyprus: 4.33 %Cyprus4.33Slovakia: 4.2 %Slovakia4.2Greece: 4.1 %Greece4.1Portugal: 3.77 %Portugal3.77Italy: 3.62 %Italy3.62Germany: 3.59 %Germany3.59Ireland: 3.55 %Ireland3.55Finland: 3.53 %Finland3.53Belgium: 3.46 %Belgium3.46France: 3.43 %France3.43Croatia: 3.4 %Croatia3.4Austria: 3.39 %Austria3.39Slovenia: 3.37 %Slovenia3.37Spain: 3.35 %Spain3.35Luxembourg: 3.22 %Luxembourg3.22Netherlands: 2.92 %Netherlands2.92
%. 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 countriesNovember 2025 (%)Change on November 2024
1Latvia4.84-1.17 pts
2Lithuania4.74-0.8 pts
3Estonia4.71-1.04 pts
4Malta4.48-0.35 pts
5Cyprus4.33-0.53 pts
6Slovakia4.2-0.96 pts
7Greece4.1-0.91 pts
8Portugal3.77-0.85 pts
9Italy3.62-1.02 pts
10Germany3.59-1.16 pts
11Ireland3.55-1.66 pts
12Finland3.53-0.85 pts
13Belgium3.46-1.03 pts
14France3.43-0.82 pts
15Croatia3.4-1.19 pts
16Austria3.39-0.98 pts
17Slovenia3.37-1.2 pts
18Spain3.35-0.91 pts
19Luxembourg3.22-0.79 pts
20Netherlands2.92-1.1 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 November 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, 2025-11) [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, 2025-11. 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=2025-11. 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, 2025-11. 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=2025-11.

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, 2025-11 [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=2025-11 (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, 2025-11}},
  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=2025-11. 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, 2025-11
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=2025-11
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries?period=2025-11.
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  -
Embed this chart

Paste this code into a web page or a blog post. The chart shows the latest figures as they are published, with the source and a link back to this page.

Sites that read oEmbed links, such as WordPress, can show the chart when you paste the link to this page.

Use this data in your AI agent

Invokely serves this figure to AI assistants through MCP and to code through a REST API, with the source and citation attached. Ask your assistant:

Rank EU countries by composite cost of borrowing for non-financial corporations using official data, and cite the source.
rank_places {"indicator":"ecb_business_borrowing_cost","level":"country","within":"European Union (27)","limit":10}
GET https://invokely.ai/api/v1/rank?indicator=ecb_business_borrowing_cost&level=country&within=European%20Union%20(27)&limit=10

Connect Claude, ChatGPT or Cursor in one step. The trial answers 25 calls a day without an account.

Questions

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

Latvia, with 4.84% in November 2025, according to the European Central Bank.

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

The Netherlands, with 2.92% in November 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 November 2025 and are not ranked.

EU countries: more rankings