The European Investment Bank (EIB) is granting Raiffeisenlandesbank Vorarlberg a EUR 50 million global loan for promoting the investments of small and medium-sized companies in the Vorarlberg region. “This new partnership with the EIB will enable us to support Vorarlberg’s economy even better”, affirmed Raiffeisenlandesbank Vorarlberg’s CEO Wilfried Hopfner when signing the cooperation agreements today. Raiffeisen has long been the partner of the region’s many small and medium-sized businesses, the backbone of the local economy.

EIB Vice-President Ambroise Fayolle, responsible for operations in Austria, stressed that “supporting smaller businesses is one of the EU bank’s top priorities. It is above all small and medium-sized companies that are creating jobs and driving the economic recovery. This EIB loan will enable them to obtain long-term loans on very favourable terms to finance their investment projects.” He added that “the EU bank has being very working closely with the Raiffeisen Group for many years. We are therefore delighted to now be extending this cooperation to Raiffeisenlandesbank Vorarlberg.”

The EIB always lends money to smaller businesses through selected partner banks. This is the first time that it has worked directly with Raiffeisenlandesbank Vorarlberg in this way. Under the agreement, Raiffeisen undertakes to match the EIB’s EUR 50 million loan with the same amount. When signing the contracts, Wilfried Hopfner said: “As a regional banking group, Raiffeisen is able to meet the financing needs of small and medium-sized firms quickly, flexibly and reliably. This EIB global loan will enable us to continue providing professional support for investment projects in our region.” 

Boosting Vorarlberg’s economy

Businesses will be able to use the EIB-funded loans for many purposes: from modernisation and expansion investments or company transfers to the next generation, to public sector infrastructure projects. Vorarlberg’s businesses gain long-term benefits from the European Investment Bank’s partnership with Raiffeisen: “Local companies make a big contribution to our region’s economy with their investments. We are glad to work together with them to take Vorarlberg forward”, said Wilfried Hopfner. EIB-funded loans can be applied for and arranged through Vorarlberg’s Raiffeisen banks and Raiffeisenlandesbank Vorarlberg at any time.