Evaluation Dutch Alternative Credit Instrument (DACI)

Commissioned by the Dutch Ministry of Economic Affairs and Climate Policy, Dialogic is evaluating the Dutch Alternative Credit Instrument (DACI). DACI was established in 2021 by the ministry, together with Invest-NL and the European Investment Fund (EIF), to broaden the availability of non-bank finance for Dutch SMEs. Through selected funds, the instrument provides capital to finance SME businesses. The evaluation examines the extent to which DACI contributes to a broader and more accessible range of non-bank financing for SMEs. This includes consideration of the legitimacy, effectiveness and efficiency of DACI, its reach among SME businesses, and its additionality in relation to other financing options. We also examine whether DACI aligns with developments in the financing market and what lessons can be drawn for the further design and implementation of the instrument.

2026