Bank calls for huge expansion of National Growth Fund

Next government should invest €4.5 billion a year through R&D and infrastructure fund, says Rabobank

The Dutch National Growth Fund, a programme created to boost knowledge development and innovation, should be extended until 2030 to aid the coronavirus recovery and strengthen the economy for the long term, according to a report by Rabobank.

In a study, the banking and financial services company said that the fund, estimated to be worth €20 billion over five years, should be used to enhance R&D spending in the country. By extending the fund, the Netherlands could increase its R&D spending from 2.1 per cent of GDP and move towards the general EU goal of 3 per cent.