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Signature(s)

Amount
€ 61,200,000
Countries
Sector(s)
Austria : € 61,200,000
Industry : € 61,200,000
Signature date(s)
6/12/2023 : € 61,200,000

Summary sheet

Release date
18 December 2023
Status
Reference
Signed | 06/12/2023
20220753
Project name
Promoter - financial intermediary
HYPO VORARLBERG ENHANCED SUPPORT FOR EE III
HYPO VORARLBERG BANK AG
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 61 million
EUR 150 million
Location
Sector(s)
Description
Objectives

The project consists in a loan substitute operation in the form of a guarantee covering the mezzanine tranche on a granular SME portfolio originate by Hypo Vorarlberg. The guarantee instrument is designed to facilitate the financial intermediary to finance new loans dedicated to energy efficiency investments and development of highly energy efficient buildings across Austria.

The proposed guarantee instrument is designed to facilitate the financial intermediary to finance new loans dedicated to energy efficiency investments and development of highly energy efficient buildings across Austria.

Additionality and Impact

By transferring the credit risk of the existing securitised SME and Mid-Cap portfolio, the proposed operation will reduce the risk-weighted assets and thus enable the Promoter Hypo Vorarlberg to release regulatory capital. The capital relief provided will increase the Promoter's credit capacity and allow for the origination of new loans to Final Beneficiaries dedicated to support lending to highly energy efficient building construction and other EE-projects. Such capital relief is not readily available from commercial financiers and therefore unlocks additional lending.

Energy efficiency investments in buildings suffer from a number market failures (negative CO2 externalities, asymmetric information, and split incentives). As a result of these market failures, investments in energy efficiency are at sub-optimal levels from a socio-economic perspective. The proposed operation contributes to supporting the Austrian government's climate change mitigation ambitions by addressing the suboptimal levels of investments in highly energy efficient building construction and EE-eligible renovation.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Milestone
Under appraisal
Approved
Signed
4 July 2023
6 December 2023
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - HYPO VORARLBERG ENHANCED SUPPORT FOR EE III
Publication Date
3 Jan 2024
Document language
Main Topic
Lending
Document Number
169005818
Document Focus
Environmental Information
Project Number
20220753
Sector(s)
Regions
Countries
Publicly available
Download now

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