OeEB strengthens clients in crisis COEID-19 and increases engagement in Africa and poorer developing countries

Portfolio Overall portfolio reaches a new high by the end of 2020 • Climate friendly investments continue to focus

Vienna Airport (OTS) – The total portfolio of Osterrich Endeavor Clinksbank AG (OEEP) reached 1. 1.44 billion at the end of 2020, with கிடைத்த 302 million in new loans and investments on behalf of the Federal Ministry of Finance (PMF).

The COVID-19-induced economic crisis is particularly difficult for developing and developing countries. While the liquidity and investment of industrialized countries are declining, development banks such as the OEEP are still playing a key role in providing the capital needed to deal with the crisis.

“In COVID epidemics, it is important for us to act quickly and flexibly on the cash flow needs of our customers,” says team member Sabine Caber. A new product has also been developed for this purpose, with a development line for customers’ COVID related cash flow needs with a fundamentally healthy business model. “In December 2020, we participated in a joint venture with the Federation of European Development Banks with 30 million euros,” says team member Michael Wankata. “The 28 280 million initiative will strengthen financial institutions and organizations in developing countries, thus ensuring continued investment and job security.” Funding for micro, small and medium enterprises is central to OEEP.

Notable projects in Africa and poorer developing countries

Despite the epidemic, OEEB was able to further expand its business in Africa and some of the poorest (least developed countries) in the world, as provided in the Bank’s strategy. “To avoid the forecasting consequences as much as possible, we have invested 92 92 million in investment funds in Africa and 64 64 million in poor developing countries. This is significantly higher than the previous year, ”explains team member Sabin Caber. In addition, the first two projects were signed as part of the “African-Austrian SME Investment Facility”, which is handled by OeEB on behalf of BME. Austrian AMABO GmbH manufactures roofing tiles from pressed sand and old plastic in Cameroon. In Nigeria, the Austrian ESME GmbH is funded with a mezzanine loan to build the infrastructure for an industrial park.

Focus on climate-friendly investments

“Developing countries are proportionately affected by climate change. Heat, drought and water shortages are stifling economic growth and the way out of poverty. In 2020 alone, the OEEP provided about .5 80.5 million for climate-related projects, for example the renewable sector could save about 2.4 million tonnes of CO2 emissions.” Said Michael Wankata. For many years, OeEB has been the largest climate finance provider in developing Austria.

Results at a glance

During the last financial year, OEEP generated an annual surplus of 4.7 million euros (2019: 5.8 million euros), with operating results at 6.4 million euros (2019: 8.4 million euros). With new business worth around 2 302 million (investment funds and equity investments), the total portfolio of loans and equity investments stood at 1. 1.44 billion at the end of the year. OEEB provided 45 0.45 million for planned activities to strengthen growth outcomes. In 2020, OeEB again funded these projects from its own resources.

About Oysterrich Endwiglungsbank AG (OEEP):

Osterrich Antwiglungsbank AG (OEEP) has been the Development Bank of the Republic of Austria since 2008 and is wholly owned by Osterrich Controlbank AG. As a specialized agency, it finances private investment projects in developing and developing countries that need to be realized economically and in terms of development policy. In addition to the project, projects that support additional development outcomes are supported. www.oe-eb.at

Inquiries and Contact:

OeEB Oesterreichische Entwicklungsbank AG
Verina Kostner
+43 1 5331200-2993
verena.kastner@oe-eb.at