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Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Germany : € 50,000,000
Water, sewerage : € 10,000,000
Transport : € 10,000,000
Energy : € 10,000,000
Credit lines : € 20,000,000
Signature date(s)
23/07/2024 : € 10,000,000
23/07/2024 : € 10,000,000
23/07/2024 : € 10,000,000
23/07/2024 : € 20,000,000
Link to source
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Summary sheet

Release date
18 April 2024
Status
Reference
Signed | 23/07/2024
20240038
Project name
Promoter - financial intermediary
SAB KOMMUNALE ENTWICKLUNG SACHSEN MBIL
SAECHSISCHE AUFBAUBANK - FOERDERBANK
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
not applicable
Location
Sector(s)
Description
Objectives

The operation consists in a Multiple Beneficiary Intermediated Loan (MBIL) to the public regional promotional bank Saechsische Aufbaubank (SAB) to support its promotional lending to municipalities and other public sector entities, including their subsidiaries as well as small and medium sized enterprises (SMEs) and mid-caps in the Free German State of Saxony.

The aim is to support sustainable growth in the Free State of Saxony which is largely an EIB Cohesion Priority Region by financing small/medium projects carried out by the target beneficiaries mentioned above.

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
21 May 2024
23 July 2024
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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
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.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

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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