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The European Investment Bank (EIB) and the Thuringian Development Bank, Thüringer Aufbaubank (TAB), yesterday signed a grant agreement funded by the European Investment Advisory Hub. The Advisory Hub supports the development of advisory capacities and the local delivery of advisory services through a dedicated call for proposals for national promotional banks and institutions. The agreement aims to address the needs of Thuringian municipalities for support in the preparation of sustainable and financially viable projects using various sources of funding and financing.

• The European Investment Advisory Hub (EIAH) will provide a grant of up to €500 000 to Thüringer Aufbaubank (TAB) to strengthen municipal support for investment projects in priority sectors such as energy and resource efficiency, the circular economy and green urban development.
• TAB will help cities in Thuringia to prepare and structure investment projects enhancing the use of both public and private resources.
• With the EIB's support, TAB will develop an online tool enabling municipalities to perform economic efficiency analyses and identify sound investment projects.

Thanks to the funding support of the European Investment Advisory Hub, TAB will help municipalities to initiate, plan and implement infrastructure investments in key sectors. It will also create an online tool to perform economic efficiency analyses of projects, helping to improve their soundness.

In addition, the advisory support provided by TAB will involve capacity building and knowledge sharing activities. The objective is to reinforce municipalities' internal capacity to structure and deliver sustainable investment projects for the benefit of local residents.

European Commissioner for the Economy, Paolo Gentiloni, yesterday said: “Thanks to a grant by the Investment Plan for Europe's Advisory Hub, Thüringer Aufbaubank in Germany will help municipalities to plan and implement infrastructure investments in key sectors like energy and resource efficiency and the circular economy. The project shows the benefits of tailored advisory support and technical assistance to project promoters in accelerating the green transition to the benefit of cities and their inhabitants.”

EIB Vice-President Ambroise Fayolle, responsible for climate and environment and for the Bank's activities in Germany, yesterday said: “Today's funding agreement, supported by the European Investment Advisory Hub, underpins the importance of advisory services to deliver climate-friendly investments. As the EU climate bank, we are particularly pleased that many of the targeted projects will be in pursuit of this agenda. This cooperation is an example of how the EIB, together with its partners, can deliver flexible and bespoke support to projects of various sizes. Working together we can deliver on EU priorities and improve people's lives.”

"Through the newly created advisory approach funded by the EIB, we can counteract municipal problems," said TAB‘s Chief Executive Officer Matthias Wierlacher yesterday. "In future, we will not only succeed in initiating municipal investments, but also in promoting and financing them.”

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