Haspa Secures €100 Million EIB Loan to Drive Investments in Sustainable Projects for Small and Medium Businesses

Haspa Secures €100 Million EIB Loan to Drive Investments in Sustainable Projects for Small and Medium Businesses

(IN BRIEF) Haspa will receive €100 million from the European Investment Bank to finance small businesses and mid-sized companies in northern Germany, with a focus on renewable energy and energy efficiency projects. This funding will unlock up to €280 million in investments to support the green transition of SMEs and mid-caps.

(PRESS RELEASE) LUXEMBOURG, 14-Nov-2024 — /EuropaWire/ — Haspa, Germany’s largest savings bank based in Hamburg, is set to receive a €100 million loan from the European Investment Bank (EIB) to stimulate investments in small and medium-sized enterprises (SMEs) and mid-sized companies (mid-caps) across Germany. This funding initiative will unlock a total of €280 million in investments, with a particular emphasis on supporting renewable energy projects and improving energy efficiency in the country.

The EIB’s multi-beneficiary intermediated loan (MBIL) will provide Haspa with the capital to offer financing solutions to SMEs and mid-caps with up to 3,000 employees. In addition to competitive interest rates, the loan will bring long-term funding and help diversify the external financial sources available to these companies, ensuring they have the resources they need to grow and adapt.

One-third of the loan will specifically be dedicated to projects aimed at advancing Germany’s energy transition, including investments in onshore wind, solar photovoltaic systems, and energy efficiency initiatives. With the help of the EIB financing, Haspa will be able to extend up to €280 million in financial support, empowering small businesses and mid-caps to invest in sustainable and green projects.

This marks the first time the EIB has partnered with a German savings bank for such an initiative. The funds will be used to enhance the financing structures of companies, particularly in light of the long-term economic viability of the projects they are financing, aligning with their broader sustainability and green transition goals.

EIB Vice-President Nicola Beer emphasized the importance of supporting SMEs, stating, “Small businesses and mid-caps are the backbone of Europe’s economy, and supporting them is a key mission for the EIB. This new collaboration with Haspa will help stabilize the financial standing of companies in northern Germany and foster investment in green and digital transformation projects.”

Michi Maaß, divisional board member at Haspa, expressed enthusiasm about the partnership: “This funding enables us to better support medium-sized companies in the Hamburg region as they transition to sustainable practices. We are proud to be a pioneer in this collaboration with the EIB, helping our local businesses invest in their future and in the green economy.”

Background information

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

All projects financed by the EIB Group are in line with the Paris Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects that directly contribute to climate change mitigation and adaptation, and to a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.

Haspa

Haspa is the largest financier of small businesses in the Hamburg metropolitan region, serving 60 000 corporate customers. As a partner in transformation, the savings bank supports its customers on the path to a climate-friendly and sustainable economy and lifestyle. Most public funding in Hamburg is channelled through Haspa. It is involved in many major infrastructure projects in the region. The Haspa Startup Centre supports hundreds of startups every year, thereby strengthening the city’s ecological and social innovative power.

Media Contact:

Donata Riedel
d.riedel@eib.org
+352 4379 – 86192

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank