The European Investment Bank (EIB) is providing Giesecke & Devrient GmbH (G&D) a loan of EUR 80m to strengthen the company’s research and development activities. The Bank’s loan to the world-leading technology group is backed by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe (IPE), under which the EIB and the European Commission are working as strategic partners to boost the competitiveness of the European economy.
EIB Vice-President Ambroise Fayolle, responsible for operations in Germany, said, “Innovation and technological development in means of payment are crucial to ensuring that people have confidence in their cash and in digital and mobile payment methods. For us, as the EU bank, the promotion of innovation and technological excellence are a top priority. I therefore very much welcome this consolidation of our long-standing cooperation with Giesecke & Devrient.”
The EIB Vice-President added that the EU bank was playing a central role under the Investment Plan for Europe to support the modernisation of the European economy, particularly in the areas of digitalisation and “Industry 4.0”. The aim of this investment offensive was to mobilise private funds for projects by deploying EIB funds, secured under EFSI, as a catalyst. “Both requirements - the modernisation of the economy and the mobilisation of private resources - are met by this collaboration with G&D,” Fayolle pointed out.
G&D will invest the dedicated EIB loan in development projects its two business areas: banknotes and mobile security. In the banknote area, a new generation of products for the processing of bank notes is being developed, including new machines and functions for a modular, scalable product system. In the mobile security area, the EIB funds will be channelled into development projects for securing connected digital data exchange, e.g. for payment transactions, mobile communications via integrated SIM cards in cars, or Internet and cloud-based machine communications.
“We are very pleased with the provision of this loan. The EIB has been our financing partner for a long time, and we have used this opportunity to diversify our overall funding basis. The Bank has always proven to be a reliable business partner,” stated Dr Peter Zattler, Member of G&D’s Management Board and CFO.
European Commission Vice-President for jobs, growth, investment and competitiveness Jyrki Katainen said, “This loan agreement enables Giesecke & Devrient to finance their research and development projects that are essential to bolster the company’s position in a strongly contested market. And that is precisely the aim of this investment offensive: to consolidate the position of European firms as global market leaders in a highly dynamic and competitive technology sector.”