(AGENPARL) – gio 21 marzo 2024 PRESS RELEASE2024-121-EN
Luxembourg/Ringkøbing, 21 March 2024
Ringkjøbing Landbobank partners with European Investment Bank to support investments in SMEs
The EIB and Ringkjøbing Landbobank have signed a DKK 745 million (€100 million) loan agreement to finance Danish SMEs and Mid-Caps.
With a view to climate action, at least 25% of the newly available funds is earmarked for climate relevant investments and sustainability projects by Danish businesses.
The operation is expected to improve access to finance for Danish businesses, which will increase competitiveness and aid them in the green transition.
Ringkjøbing Landbobank has signed a DKK 745 million (€100 million) loan agreement with the European Investment Bank. The funds will be on-lent to eligible Danish small and medium-sized businesses and Mid-Caps to improve their access to finance. This facility is a continuation of Ringkjøbing Landbobank’s long-standing partnership with the EIB, which dates back to 2002. At least 25% of the funds will go to investments specifically connected to the green transition in Denmark and the rest of the EU, including renewable energy, energy efficiency improvement and sustainability projects.
“The loan agreement reflects Ringkjøbing Landbobank’s clear desire to support businesses that make production and consumption more sustainable. We can provide this support by financing investments that take our customers to the next level in the green transition in their industry”, says John Fisker, CEO of Ringkjøbing Landbobank. “We are very pleased with our partnership with the European Investment Bank over more than 20 years. This loan programme further strengthens our bank’s market position and supports our customers’ competitiveness by financing new investments”.
“A key priority for the EIB Group is to make sure that businesses have access to the right type of financing.” added EIB Vice-President Thomas Östros. “We are particularly eager to support investments in areas of renewable energy, sustainability and energy efficiency. The green transition comes with particular financing challenges and we are glad to build on our partnership with Ringkjøbing Landbobank and support them in their green efforts.”
The agreement aims to give businesses easier access to financing of investments that will increase their productivity and competitiveness, and in many cases support their green transition. The funds target the SME segment, but larger enterprises (Mid-Caps) can also be eligible. The final decision on intermediated loans under this facility rests with Ringkjøbing Landbobank.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing toward EU policy goals. In 2022 alone, the EIB made available over €800 million in financing for projects in Denmark, including in the medical research and energy transition sectors.
Ringkjøbing Landbobank A/S is a regional, full-service Danish bank with a loan and guarantees portfolio of approx. €6.8 billion. The bank is focused on retail customers, primarily SMEs and personal customers, in West, Central and North Jutland together with niches, where the bank has strong expertise, including Private Banking and renewable energy. Ringkjøbing Landbobank builds on customer relationships based on the values of acting competently, responsively and properly. Since the beginning in 1886, the bank has focused on credit line management and cost control.
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