>@EIB/To be defined

Thüringer Aufbaubank (TAB) has received a EUR 150m global loan from the European Investment Bank (EIB). The funds will be used for the development of municipal infrastructure and for financing businesses in Thuringia.  EIB Vice-President Wilhelm Molterer and TAB's Chief Executive Officer Matthias Wierlacher signed a corresponding contract today in Berlin.

"Together with the EIB, we are paving the way for sustainable development with attractive financing advantages for Thuringia," said Matthias Wierlacher. This loan can be used, for example, to renovate schools, children's day-care centres, sports facilities and community halls and also to finance transport, water and sanitation schemes. In addition, businesses can benefit from the favourable terms. Projects in Thuringia with costs ranging from EUR 40 000 to EUR 25m are eligible.

EIB Vice-President Wilhelm Molterer highlighted the importance of economic and social cohesion within the EU. Lending for convergence projects remains a core task of the EIB, "since the strengthening of weaker regions, in particular, benefits the EU as a whole. For the financing of key municipal and regional projects, we depend on sound cooperation with local partners. Thüringer Aufbaubank has long been such a reliable partner."

TAB already received global loans from the EIB in 2008, 2009 and 2011 for a combined total of EUR 225m. In 2014, for example, the projects financed included the construction of a district road between Gräfenthal and Reichmannsdorf in the municipality of Saalfeld-Rudolstadt and the expansion and conversion of the old public baths in Gotha into a sports and family leisure pool.