Note 7 Other financial assets (including current portion)
€ million | Loans, receivables and other |
Carrying amount as at 1 January 2016 | 67 |
Effective interest rate 2016 | 1% |
Movements in 2016 | |
Loans granted | 332 |
Loans and interest repaid | -344 |
Writedown on loan to associate | -2 |
Total | -14 |
Carrying amount as at 31 December 2016 | 53 |
Effective interest rate 2017 | 1% |
Movements in 2017 | |
Loans granted | 50 |
Loans and interest repaid | -61 |
Writedown on loan to associate | -1 |
Total | -12 |
Carrying amount as at 31 December 2017 | 41 |
Non-current portion of other financial assets | 39 |
Current portion of other financial assets | 2 |
At the end of 2017, in the same way as the previous year, the carrying amount of the other financial assets comprised receivables, loans and capitalised costs denominated in euros. In 2017 this included a long-term receivable of €18 million from the City of Amsterdam relating to the Spaklerweg site.
The loans granted and repaid in 2016 and 2017 were mainly in the form of short-term deposits.