These newly signed agreements place even greater emphasis on climate action, with a particular focus on innovation
Raiffeisenverband Salzburg (RVS) and the European Investment Bank (EIB) are intensifying their cooperation. Due to the high demand for loans, RVS has signed a further €30 million financing agreement with the EU bank. This is the first tranche of an overall sum of €50 million for which RVS has secured the EIB’s agreement. To provide a clear impetus for investment in the region, the new loan volume will also be doubled by Raiffeisen Salzburg to €100 million in the coming years.
The two banks have been working closely since 2017. Over this period, RVS has been cooperating with the EU bank directly to support companies in the region by granting loans on favourable terms. Projects that meet EIB criteria enjoy low-interest rates. Since 2017, the EIB has granted promotional loans totalling €100 million to selected projects as part of this cooperation, with RVS doubling this amount to €200 million.
EIB Vice-President Thomas Östros added: “In the current difficult economic climate, marked by the COVID pandemic, we must ensure that access to fresh capital is not blocked. Against this backdrop, I am particularly pleased that we are stepping up our cooperation with Raiffeisenverband Salzburg, especially since the new funds have an even greater focus on financing climate action. Tackling the crisis and climate change are absolute priorities for the EIB, the EU bank.”
The scope of the EIB’s refinancing is broad: in previous years, the low-interest EU loans went towards supporting new expansion and modernisation projects conducted by small and medium-sized enterprises (SMEs) in the state of Salzburg and neighbouring regions, with a focus on environmentally friendly investment. These initiatives included renovation projects at tourism companies, which have reduced their CO2 emissions significantly thanks to new heating and ventilation technologies, thermal insulation, and/or the use of energy management systems. The funds were also used for switching to energy-efficient production machinery and processes as well as constructing low-energy buildings for commercial use.
These newly signed agreements place even greater emphasis on climate action, with a particular focus on innovation. These favourable refinancing packages are primarily intended for companies operating in innovative fields and investments in pioneering products and processes.