EU bank grants IB.SH EUR 200 million loan
The European Investment Bank (EIB) has provided the Schleswig-Holstein Investment Bank (IB.SH) with EUR 200 million to finance low-interest loans in support of sustainable growth in Schleswig-Holstein. Projects worth up to EUR 25 million carried out by municipalities and other public sector entities will be eligible for funding. The loan agreement was signed in Kiel today by the Chairman of IB.SH’s Executive Board, Erk Westermann-Lammers, and EIB Director Sandrine Croset.
“This is a substantial sum, which will be available for the next two years. It will enable us to support major projects fostering sustainable growth in the state”, said Mr Westermann-Lammers.
The funds are earmarked for projects improving living conditions in both urban and rural areas. Ms Croset stressed that “supporting sustainable growth is one of the EU bank’s priorities. We achieve this by passing on our favourable terms, including longer loan tenors, so that our partner banks and their customers can carry out infrastructure projects directly benefiting the local population.”
In the past 10 years, IB.SH has received EIB funding worth EUR 680 million, which has been used to finance construction in sectors such as broadband, schools, crèches, and water treatment and supply and sanitation.