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Tuesday, October 17, 2017

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EIB grants €50m loan to Austrian bank

Jordan Williams | 17:04 Wednesday 4th October 2017

The European Investment Bank (EIB) has granted a global loan of up to €50m to Austrian bank Raiffeisenlandesbank Niederösterreich-Wien AG (RLB NÖ-Wien).

At least 70% of the loan will be provided to SMEs and mid-caps, while the rest will be directed towards priority sector infrastructure investments in areas of environmental protection, knowledge economy, energy, health and education.

Under the agreement, RLB NÖ-Wien will also match the funding amount.

This is the third global loan with RLB NÖ-Wien in the past 10 years.

Andrew McDowell, vice-president of the EIB, said: “SMEs and mid-caps are important drivers of growth, employment and innovation in Austria as well as in Europe as a whole.

“They represent well over 90% of businesses and employ two-thirds of the active working population.

“Supporting long-term financing on very favorable terms to SMEs and mid-caps is a top priority for the EU bank.

“We are delighted to sign this new transaction with Raiffeisenlandesbank Niederösterreich-Wien.

“This demonstrates our very successful relationship with Raiffeisen in Austria.”

Reinhard Karl, board member of RLB NÖ-Wien, added: “As a regional bank, we strive to meet our customers’ financing needs in a quick, flexible and reliable manner.

“For us, it’s essential to focus on contributing to the success of small- and medium-sized firms and mid-caps in our region.

“This EIB global loan will enable us to continue providing professional support for investment projects in eastern Austria.”

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