Austria: EIB and RLB NÖ-Wien promote environmental investments with €300 million

The European Investment Bank (EIB) is making a €150 million global loan available to Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien). The first €50 million tranche of this loan has now been signed. Most of the funds will go to small and medium-sized enterprises (SMEs), especially those in the Vienna area and the Lower Austria region, to invest in sustainable projects. In addition to financing the construction of onshore wind and solar and hydropower generation, the funds can be used to finance electric vehicles and charging stations, and investments in the energy efficiency of companies and buildings. RLB NÖ-Wien will top up the EU bank’s total investment volume with its own contribution of €150 million.

EIB Vice-President Thomas Östros said: “With these funds, we want to support SMEs that invest in climate action. Despite the challenging economic environment we find ourselves in today, in the wake of the COVID-19 crisis, we must not lose sight of the future. As the EU climate bank, sustainability is at the top of the agenda. Supporting SMEs is also one of the EU bank’s priorities. These are the businesses that create jobs and that drive the economy. In light of the current situation, this is precisely why we must give SMEs access to fresh funding.”

Deputy CEO of RLB NÖ-Wien Reinhard Karl said: “I am delighted that with this first 100% Climate Action global loan in Austria , we will be working with the EIB to promote environmentally innovative operations for SMEs while also supporting local projects. This will help us generate significant sustainable economic momentum in the region. There is a growing focus on sustainable environmental solutions in many financing operations, with businesses often seeking energy-efficient improvements and upgrades in their operations that protect the environment while also saving costs. This global loan is an important support instrument for the Austrian economy and an essential component in the financing mix for innovative business NÖ-Wien is a modern regional and commercial bank in eastern Austria and the central institution of the Raiffeisen banks in Lower Austria. While RLB NÖ-Wien focuses primarily on the capital as “Raiffeisen in Wien. Meine Stadtbank” (“Raiffeisen in Vienna. My city bank”), the locally operating independent Raiffeisen banks are the leading banking group in Lower Austria.