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

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

Lithuania had the highest composite cost of borrowing for non-financial corporations of 21 EU countries in May 2026, at 4.96%. Luxembourg had the lowest, at 2.84%. The median was 3.86%. Source: the European Central Bank.

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Highest4.96Lithuania
Lowest2.84Luxembourg
Median3.8621 EU countries

Map of EU countries, May 2026

Austria: 3.51 %Belgium: 3.6 %Bulgaria: 3.86 %Cyprus: 3.88 %Germany: 3.72 %Estonia: 4.66 %Spain: 3.51 %Finland: 3.52 %France: 3.52 %Greece: 4.29 %Croatia: 3.35 %Ireland: 4.22 %Italy: 3.77 %Lithuania: 4.96 %Luxembourg: 2.84 %Latvia: 4.84 %Malta: 4.09 %Netherlands: 3.17 %Portugal: 4.01 %Slovenia: 4.02 %Slovakia: 4.13 %
  • Under 3.5
  • 3.5 to 3.7
  • 3.7 to 4
  • 4 to 4.2
  • 4.2 and over
  • No data
%, May 2026. 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, May 2026

Lithuania: 4.96 %Lithuania4.96Latvia: 4.84 %Latvia4.84Estonia: 4.66 %Estonia4.66Greece: 4.29 %Greece4.29Ireland: 4.22 %Ireland4.22Slovakia: 4.13 %Slovakia4.13Malta: 4.09 %Malta4.09Slovenia: 4.02 %Slovenia4.02Portugal: 4.01 %Portugal4.01Cyprus: 3.88 %Cyprus3.88Bulgaria: 3.86 %Bulgaria3.86Italy: 3.77 %Italy3.77Germany: 3.72 %Germany3.72Belgium: 3.6 %Belgium3.6Finland: 3.52 %Finland3.52France: 3.52 %France3.52Austria: 3.51 %Austria3.51Spain: 3.51 %Spain3.51Croatia: 3.35 %Croatia3.35Netherlands: 3.17 %Netherlands3.17Luxembourg: 2.84 %Luxembourg2.84Lithuania: 4.96 %Lithuania4.96Latvia: 4.84 %Latvia4.84Estonia: 4.66 %Estonia4.66Greece: 4.29 %Greece4.29Ireland: 4.22 %Ireland4.22Slovakia: 4.13 %Slovakia4.13Malta: 4.09 %Malta4.09Slovenia: 4.02 %Slovenia4.02Portugal: 4.01 %Portugal4.01Cyprus: 3.88 %Cyprus3.88Bulgaria: 3.86 %Bulgaria3.86Italy: 3.77 %Italy3.77Germany: 3.72 %Germany3.72Belgium: 3.6 %Belgium3.6Finland: 3.52 %Finland3.52France: 3.52 %France3.52Austria: 3.51 %Austria3.51Spain: 3.51 %Spain3.51Croatia: 3.35 %Croatia3.35Netherlands: 3.17 %Netherlands3.17Luxembourg: 2.84 %Luxembourg2.84
%. 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 countriesMay 2026 (%)Change on May 2025
1Lithuania4.96+0.25 pts
2Latvia4.84+0.24 pts
3Estonia4.66-0.25 pts
4Greece4.29+0.11 pts
5Ireland4.22-0.42 pts
6Slovakia4.13-0.21 pts
7Malta4.09-0.31 pts
8Slovenia4.02+0.22 pts
9Portugal4.01+0.13 pts
10Cyprus3.88-0.52 pts
11Bulgaria3.86n/a
12Italy3.770 pts
13Germany3.72-0.07 pts
14Belgium3.6-0.03 pts
15Finland3.52-0.19 pts
15France3.52-0.02 pts
17Austria3.51-0.19 pts
17Spain3.51+0.08 pts
19Croatia3.35-0.25 pts
20Netherlands3.17+0.01 pts
21Luxembourg2.84-0.05 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, 2026-05) [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, 2026-05. 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=2026-05. 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, 2026-05. 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=2026-05.

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, 2026-05 [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=2026-05 (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, 2026-05}},
  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=2026-05. 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, 2026-05
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=2026-05
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/business-borrowing-cost/eu-countries?period=2026-05.
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?

Lithuania, with 4.96% in May 2026, according to the European Central Bank.

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

Luxembourg, with 2.84% in May 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.

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