Release date: 31 March 2022
Promoter – Financial Intermediary
OBERBANK AGLocation
Description
Loan for small and medium-sized enterprises (SMEs)/mid-caps and Climate Action and Environmental Sustainability. Will support small and medium-sized projects, promoted by SMEs and mid-caps.
Additionality and Impact
This project supports the strengthening of the EU's economic, social and territorial cohesion and addresses existing market failures. EIB funding will help to ease financial constraints for SMEs and MidCaps and will also address the gap in long tenor financing for small to mid-size Climate Action & Environmental Sustainability projects with a 50% green window. In addition, it will support projects in cohesion areas (expected at 20%). In the present operation, EIB will address the continuously existing financing gap stemming from sub-optimal investment conditions for SMEs through an experienced financial intermediary and will enhance access to finance for local enterprises at improved terms, consisting of reduced interest rates and longer maturities. The operation is going to leverage on the Financial Intermediary's franchise in Upper Austria and neighboring markets including in other EU countries and is expected to channel funds particularly to activities promoted by local SMEs and MidCaps contributing to energy efficiency in buildings and industrial companies, renewable energy and e-mobility. By supporting small and mid-size SME and MidCap projects, EIB sends a positive signal to private investors and thus incentivises further financing. The financing of SMEs and MidCaps generates positive externalities through the creation of jobs, innovative processes, products or services and through skills development and digital upgrading. In combination with a green window, additional market failures are addressed. The Renewable Energy (RE) projects financed under the green window will produce energy from low carbon sources and reduce negative environmental externalities through the reduction of carbon and air pollution.
Objectives
Financing of small/medium projects carried out by small and medium-sized enterprises (SMEs) in different sectors, including a 50% dedication to Climate Action and Environmental Sustainability.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 18/07/2022
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).