European Investment Bank grants global loan to Bank Austria
- Attractive refinancing line should get new commercial loans off and running
- EUR 105 million for SMEs, EUR 45 million for the environment and infrastructure
The European Investment Bank granted Bank Austria a global loan for EUR 150 million with a total term of eight years. These attractive funds will help to refinance new commercial loans. A tranche totalling EUR 105 million is dedicated to SMEs, and a tranche of EUR 45 million is for the environment and infrastructure. The funds from the EIB are not considered aid and can therefore be combined with regional, national and EU funding. The EIB global loan is for small and medium-sized companies with fewer than 250 employees, freelancers and project management bodies from the private and public sectors.
The SME tranche is meant to refinance projects costing between EUR 40,000 and EUR 12.5 million. The commercial investment project is meant to offer support particularly for the expansion or modernisation of companies. The environment and infrastructure tranche will offer 50 per cent refinancing for projects costing between EUR 40,000 and EUR 25 million. Their focus must be on environmental protection, energy, research and development or education, health and social programmes. Purely financial transactions, such as debt conversions, sale and leasebacks, and real estate projects, may not be financed.
According to Helmut Bernkopf, Bank Austria's director of Corporate & Investment Banking, "The EIB has been an important partner for financing small and medium-sized companies for many years. Particularly in times of significantly increased refinancing costs for banks, initiatives like this are all the more important and we will pass this price benefit down to our customers."
Bank Austria currently serves around 100,000 corporate customers, making it the market leader in Austria. Depending on the size of the companies, Bank Austria serves between 45 and 88 per cent of all corporate customers. Some 56 per cent of Bank Austria's corporate customers regard it as their main bank. This means that among all of Austria's credit institutions, Bank Austria serves as the main bank for the highest proportion of corporate customers.
Enquiries: Bank Austria Press Office Austria
Tiemon Kiesenhofer, Tel. +43 (0)5 05 05 ext. 52819
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