- The EIB and Ringkjøbing Landbobank have signed a DKK 745 million (€100 million) loan agreement to finance Danish SMEs and mid-caps.
- At least 25% of the newly available funds are earmarked for climate-related investments and sustainability projects by Danish businesses.
- The operation is expected to improve access to finance for Danish businesses, which will increase competitiveness and aid them in the green transition.
Ringkjøbing Landbobank has signed a DKK 745 million (€100 million) loan agreement with the European Investment Bank. The funds will be on-lent to eligible Danish small and medium-sized enterprises (SMEs) and mid-caps to improve their access to finance. This facility is a continuation of Ringkjøbing Landbobank’s long-standing partnership with the EIB, which dates back to 2002. At least 25% of the funds will go to investments specifically related to the green transition in Denmark and the rest of the European Union, including renewable energy, energy efficiency improvement and sustainability projects.
“The loan agreement reflects Ringkjøbing Landbobank’s clear desire to support businesses that make production and consumption more sustainable. We can provide this support by financing investments that take our customers to the next level in the green transition in their industry”, says John Fisker, CEO of Ringkjøbing Landbobank. “We are very pleased with our partnership with the European Investment Bank over more than 20 years. This loan programme further strengthens our bank’s market position and supports our customers’ competitiveness by financing new investments”.
“A key priority for the EIB Group is to make sure that businesses have access to the right type of financing,” added EIB Vice-President Thomas Östros. “We are particularly eager to support investments in the areas of renewable energy, sustainability and energy efficiency. The green transition comes with particular financing challenges and we are glad to be building on our partnership with Ringkjøbing Landbobank and supporting it in its green efforts.”
The agreement aims to give businesses easier access to financing for investments that will increase their productivity and competitiveness, and in many cases support their green transition. The funds target the SME segment, but larger enterprises (mid-caps) may also be eligible. The final decision on intermediated loans under this facility rests with Ringkjøbing Landbobank.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing towards EU policy goals. In 2022 alone, the EIB made over €800 million in financing available for projects in Denmark, including in the medical research and energy transition sectors.
Ringkjøbing Landbobank A/S is a regional, full-service Danish bank with a loan and guarantees portfolio of approximately €6.8 billion. The bank is focused on retail customers, primarily SMEs and individual customers, in West, Central and North Jutland. It also has strong expertise in niche markets, including private banking and renewable energy. Ringkjøbing Landbobank’s customer relationships are based on competence, responsiveness and trust. Since its creation in 1886, the bank has focused on credit line management and cost control.