Brussels, 18/10/2011 (Agence Europe) - The European Investment Bank (EIB) announced on 14 October that it was to grant a €200 million loan to support small and medium-scale projects, particularly in the energy sector, in Germany. Eligible for funding will be projects which seek to achieve sustainable, competitive and secure energy supply. The individual loans will be channelled to the beneficiary companies via Deutsche Kreditbank AG (DKB).
This agreement with DKB is aimed at companies wishing to implement renewable energy and energy security projects, i.e. investment in wind power and photovoltaic facilities or network operation. Public and private sector companies, for example, municipal utilities, will be able to apply for loans under the programme. EIB funds will finance up to 50% of the total investment costs of each project. Recipient companies will enjoy flexible lending conditions and short arrangement periods as DKB will on-lend the EIB resources quickly. (OL/transl.rt)