As part of the agreement, Deutsche Bank will provide long-term loans to companies with between 250 and 3,000 employees to fund their transitions to more sustainable business models, with the EIB providing guarantees covering up to 50% of the loan sum.
The partnership is set to make €400m available to companies for investments in areas including renewable energy, energy efficiency and other projects that meet the sustainability criteria of the EU Taxonomy.
EIB Vice-President Ambroise Fayolle said: “We are pleased to be working with Deutsche Bank to support Germany’s real economy in its sustainable transformation, by providing medium-sized companies with long-term loans.
“Together, we are promoting the expansion of renewable energy and greater energy efficiency. This will accelerate the shift away from fossil energy in Germany.”
The collaboration is part of Deutsche Bank’s wider environmental strategy, that has seen it announce a raft os sustainable goals earlier this year.
Hauke Burkhardt, Global Head of Corporate Bank Lending at Deutsche Bank, said: “The energy transition in particular entails a high need for transformational financing for many companies.
“Sustaining this significant financing volume requires strong partnerships – especially between promotional and commercial banks. The LRS programme serves just this purpose.
“The new partnership between the EIB and Deutsche Bank provides corporate clients with reliable support for their transformation projects.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global