Signature(s)
Summary sheet
The operation consists of a loan to the intermediary to support small and medium sized enterprises as well as mid-caps in Austria and other regional EU countries.
The aim is to enhance access to finance for the target beneficiaries implementing projects related to Climate Action & Environmental Sustainability.
This project supports the strengthening of the EU's economic, social and territorial cohesion and addresses existing market failures. EIB funding will support SMEs and MidCaps and their investments under the 50% Green Window. It will help address the financing gap that continues to exist EU-wide due to higher interest rates applied to SMEs vs. larger corporates. Having regard to the difficult economic situation following the Russian war against Ukraine and the resulting energy crisis, the situation of constrained finance extends to include an increasing number of MidCaps, particularly in the manufacturing sector. 15% of the loan amount are expected to support projects in Cohesion areas.
The operation will contribute to countering the difficult economic situation following the Russian war against Ukraine and the resulting energy crisis by supporting the private sector, therefore contributing to job creation and further economic growth in Austria and other EU member states. In Upper Austria, one of the domestic markets of Oberbank, the density of industrial manufacturing mid-size enterprises is high. They still present great improvement potential in the area of energy efficiency.
To maximize the positive effects of the EIB financing in the current crisis, the FI will commit to pass on to the largest extent possible the advantages of the EIB financing to the final beneficiaries. This will promote competition between local financial intermediaries, thereby further enhancing access to finance for local enterprises at improved terms, i.e. in the form of reduced interest rates, higher volumes and longer maturities. EIB financing scales up the availability of competitively priced long term financing, with customized terms beyond the market. It mobilises other financiers and signals that the projects are sound, thereby facilitating the full financing and implementation of the projects.
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.
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).
General enquiries and comments
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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
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