The European Investment Bank (EIB) and Deutsche Kreditbank (DKB) have celebrated their almost 25 years long cooperation at DKB`s headquarter in Berlin, by signing a second cooperation that will support renewable energy projects of Small and Medium Enterprises (SME) in Germany.
With this project, the EIB provides a Multiple Beneficiary Intermediated Loan (MBIL) of €250 million to DKB. On this basis, DKB, part of of BayernLB Group, will mobilise €600 million of investments. Half of this sum will be invested together with SMEs into wind and solar energy projects, the other half will be invested into municipal infrastructure projects like schools, public buildings and public transport.
This project follows a comparable one, published in March by EIB and DKB, that has been the first of the two banks focussing specifically on the support of renewable energy projects of SMEs together. Germany: EIB and DKB to finance small renewable energy projects
During the long-standing partnership between EIB and DKB, multiple projects in sectors like infrastructure, energy and transport have been financed. For example, 143 electric busses for the public transport company Verkehrsbetriebe Hamburg-Holstein GmbH have been financed. They will start operating by the end of this year.
EIB-Vice President Nicola Beer, who oversees EIB financing in Germany, said: “We are glad to support DKB’s lending programme that targets municipal infrastructure and renewable energy projects, especially those of small and medium companies. This will help to decarbonise the energy sector to reach the EU goal of net zero by 2045, making the lives of Europeans better step by step.”
DKB Chief Executive Officer Stefan Unterlandstättner said: “DKB has been financing renewable energy projects for more than 30 years and is one of the leading financiers of the energy transition in Germany. We are pleased to be working closely with the EIB to support our customers and accelerate efforts to switch to green energy generation in Germany through the expansion of wind and solar power supply.”
This article was first published on 6 June by EIB.
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