EIB grants loan of EUR 50m to Raiffeisenlandesbank Niederösterreich-Wien
- Release date: 02 October 2017
- Reference: 2017-260-EN
The European Investment Bank (EIB) is granting Raiffeisenlandesbank Niederösterreich-Wien AG (RLB NÖ-Wien) a global loan of up to EUR 50 million. At least 70 percent of the loan will be provided to SMEs and Mid-Caps, whilst the remainder will be dedicated to priority sector infrastructure investments in areas of environmental protection, knowledge economy, energy, health and education. Under the agreement, RLB NÖ-Wien undertakes to match EIB’s EUR 50 million loan with the same amount. The transaction is the third global loan with RLB NÖ-Wien in the past 10 years in addition to numerous bank intermediated investment loans.
EIB Vice-President Andrew McDowell, responsible for operations in Austria, stressed that “SMEs and Mid-Caps are important drivers of growth, employment and innovation in Austria as well as in Europe as a whole. They represent well over 90% of businesses and employ two thirds of the active working population. Supporting long-term financing on very favorable terms to SMEs and Mid-Caps is a top priority for the EU bank.” And the Vice President added: “We are delighted to sign this new transaction with Raiffeisenlandesbank Niederösterreich-Wien. This demonstrates our very successful relationship with Raiffeisen in Austria.”
Reinhard Karl, Board Member of Raiffeisenlandesbank Niederösterreich-Wien in charge of Corporate Banking, emphasised: “As a regional bank, we strive to meet our customers’ financing needs in a quick, flexible and reliable manner. For us, it’s essential to focus on contributing to the success of small and medium-sized firms and Mid-Caps in our region. This EIB global loan will enable us to continue providing professional support for investment projects in Eastern Austria.”
Boosting the economy in Lower Austria and the City of Vienna
RLB NÖ-Wien has been a longstanding partner of EIB’s. Joint efforts particularly in large scale infrastructure projects mainly in the field of Renewable Energy became joint success stories – from project proposal to disbursement. 215 smaller projects including innovative entrepreneurs, start-up investments, infrastructural investments and renewable energy projects both in Vienna and all over Lower Austria have benefited so far from EIB Global Loans provided by RLB NÖ-Wien. These EIB-funds are being used on dedicated loans focusing on SMEs’ specific needs (“Grätzelmillion mit EIB-Vorteil/neighborhood loan with EIB-benefit”) in Vienna and for long term financings for larger companies and municipalities in Lower Austria. EIB refinancing is an important part of RLB NÖ-Wien’s funding strategy and will remain a valuable source of long-term refinancing.