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European Investment Bank pours €1.26B into Austria for renewable energy and water supply projects

  • European Investment Bank pours €1.26B into Austria for renewable energy and water supply projects

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European Investment Bank
The EIB is the European Union's bank. We are the only bank owned by and representing the interests of the European Union Member States. We work closely with other EU institutions to implement EU policy.

In 2023, the European Investment Bank (EIB) Group in Austria has focused its financing on projects that support renewable energies, water-supply and social housing. With the release of its annual results, the EU-Bank announces that it committed €1.26 billion in new financing in Austria. In the current economic environment, with higher interest rates, companies both private and public turned to the EIB for supporting long term investments, especially toward the end of 2023.

In the first quarters of 2023, against the backdrop of a mild recession in the country, companies generally behaved cautiously towards investments, as our new EIB Investment Survey shows, being released today as well. However, many Austrian companies see the development of stricter climate standards as an opportunity rather than a concern for their businesses. And the share of those who see climate regulation as an opportunity is higher than on average in the EU.

EIB projects in 2023 in Austria had a focus on infrastructure: The EU Bank invested into water infrastructure, for example into the water supply-system in Burgenland, and into renewable energy. We provided a loan of €67 million to a new onshore windfarm in Engelhartstetten in Lower Austria. Another €110 million loan was granted to energy utility EVN AG for the deployment of 103 MW of wind energy. More loans for renewable energy projects are foreseen to be signed in 2024.

“In Austria, we are seeing a growing interest in projects that contribute to the green transformation of the economy,” says EIB Vice-President Thomas Östros, who oversees the Bank’s business in Austria. “We will continue to invest in climate action in the coming years too.”

In Vienna, the EIB continues to invest in public-private partnerships to build new schools that incorporate innovative educational concepts. The buildings also meet high environmental standards. For affordable housing projects, the EIB in 2023 signed a second, €75 million loan, contract with Erste Bank and a transaction with Hypo NOE for €135 million.

In Austria, the EIB Group in 2023 mainly financed projects in the category “sustainable cities and regions”, with €451 million, followed by “sustainable energy and natural resources” investments with €363 million. Investments into “innovation, digital and human capital” investments reached 314 million, and SME-financing accounted for €135 million in 2023.

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