corporate_banner_en

Austria: EUR 100m for small and medium-sized enterprises in Styria

Projects
Regions
European Union
Enlargement countries
Turkey
Iceland
Western Balkans
European Free Trade Association
Mediterranean Neighbourhood
FEMIP Overview
Supporting pan-Mediterranean initiatives
Financing & advice
FEMIP Loans
Private equity
Advisory & technical assistance
FEMIP Support Package
Procurement
How to apply
Trust Fund
Technical assistance
Private equity
Global dialogue
Partnerships
Organisation and staff
FEMIP Internship Programme
FAQ - FEMIP
EU Eastern Neighbours
Projects
Cooperation with other institutions and organisations
Financing facilities
Trust fund
Institutional framework
Applying for loans
Organisation and staff
Central Asia
Institutional framework
Cooperation with other institutions and organisations
Financing facilities
Technical assistance and grants
Applying for loans
Organisation and staff
Sub-Saharan Africa, Caribbean and Pacific
Funding and Financial Instruments
Applying for loans
Cooperation with partners
Investment Facility
Other initiatives
Activities
Asia and Latin America
Priorities
SMEs
Innovative options
Loans
Microfinance
EU partners for SMEs & mid-caps
Non-EU partners for SMEs & mid-caps
RDI support
Equity investment
Regional development
Climate Action
Urban & natural environment
Innovation
Skills and Jobs
Trans-European Networks
Transport
Energy
Project Cycle
Applying for a loan
Appraisal
Procurement
Monitoring
Projects to be Financed
Explanatory notes
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin & Central America
Breakdown by sector
Projects Financed
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin America
Breakdown by sector
Multi-criteria list
Operations Evaluation
Organisation and Programme
Programme
Methodology
Criteria
Rating scale
Process
Reports
Operations
Overview
Publications and reports
Cooperation and Coordination
ECG
European Financial Institutions
European Commission
Contacts

Austria: EUR 100m for small and medium-sized enterprises in Styria

  •  Release date: 04 December 2013
  •  Reference: 2013-211-EN

Small and medium-sized enterprises (SMEs) in Austria are to receive further funding from the European Investment Bank (EIB) to finance their projects. The EIB is to lend EUR 100m to Raiffeisen-Landesbank Steiermark AG (RLB Steiermark), which will onlend the funds to its customers. A loan contract to that effect was signed by both sides today in Graz.

A feature of Austria’s economy is that the vast majority of firms are SMEs. There are about 310 000 of them, accounting for more than 99% of all Austrian firms, and they are responsible for the lion’s share of sales and value added. At the same time they employ around 60% of the workforce and play a crucial part in creating and safeguarding jobs. Young people in particular are most likely to start their working life in SMEs, either via training or by obtaining their first job in such firms.

Loans to SMEs have long been a focus of the EIB’s financing activities. Together with the European Investment Fund (EIF), which is also part of the EIB Group, it will be providing a total of EUR 20bn for SMEs (of which EUR 17bn in the form of loans) in the current year alone. This record volume has already been exceeded by the amount of loans approved, which are expected to total more than EUR 21bn by the end of the year. Financing SMEs has thus become the Bank’s single biggest priority.

Apart from SMEs, the target group also increasingly includes midcap companies, with up to 3 000 employees. These firms are often too big for banks’ traditional SME programmes but too small for refinancing on the international capital markets. Through its financing operations the EIB provides targeted support for this segment of the market, which is often highly innovative. For the borrowers the long maturities in particular and the comparatively favourable terms are attractive. The funds are onlent via intermediary banks. In Austria very good cooperation has long since been established with various banks, including RLB Steiermark. This enables the EIB to broaden the geographical coverage of the products it provides and thus to reach out to even more SMEs.

At the signing ceremony EIB Vice-President Wilhelm Molterer, whose responsibilities include lending in Austria, remarked: “Small and medium-sized enterprises have the greatest impact in terms of growth and employment. This applies just as much in Austria as it does throughout the rest of Europe. This year the EIB is therefore endeavouring to achieve a record volume of lending to SMEs. “In future, thanks to the successful cooperation with Raiffeisen-Landesbank Steiermark, we will be able to provide even more Austrian firms with easier access to finance.”

“As a regional bank we see it as our job to help boost economic output and thus to create the necessary conditions for doing so in Styria. We are pleased with the partnership with the European Investment Bank, which will provide us with greater scope to promote regional infrastructure,” said Martin Schaller, Chairman of Raiffeisen-Landesbank Steiermark’s Managing Board, who is also convinced of the value of the strategic cooperation between the two institutions.






 Print
 Pdf
Copyright © European Investment Bank 2014
The European Investment Bank is not responsible for the content of external internet sites.

http://www.eib.org/projects/press/2013/2013-211-100-mio-euro-fur-kleine-und-mittelbetriebe-in-der-steiermark.htm