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EIF and UniCredit Bank Austria provide €500 million in subsidised loans for innovative companies with up to 3,000 employees

The European Investment Fund (EIF) and UniCredit Bank Austria are intensifying their cooperation and extending their existing guarantee agreement from 2019 amounting to half a billion euros for SMEs to include companies with up to 3,000 employees. The focus is on innovations in products, processes or services, production or delivery methods, organisation and processes - in addition, innovations in digitisation have also been explicitly included in the catalogue of criteria. In this way, even more companies should be able to benefit from this attractive subsidized form of financing as part of the new start of the Austrian economy after the Corona crisis.

  • Guarantee agreement for innovative companies with up to 3,000 employees located in Austria to support the restart of the economy after the corona crisis
  • Maximum loan amount of 7.5 million euros exclusively in Austria with UniCredit Bank Austria for innovative companies, now also specifically in the field of digitisation

European Commission Executive Vice-President for an Economy that Works for People, Valdis Dombrovskis, yesterday said: “The European Commission and the European Investment Bank Group are working together to support small and medium-sized companies to recover from the devastating effects of the coronavirus crisis. The more we protect businesses and jobs now, the faster the economic recovery will be. In addition to support for SMEs, I welcome the focus on digitisation, which alongside the green transition, is at the heart of our economic growth strategy.”

"After the lockdown, it's time for the restart! And thus nothing less than securing our future prosperity in the long term," said Susanne Wendler, Member of the Management Board of Unternehmerbank at UniCredit Bank Austria yesterday. "Right now we are setting the course to support business areas and companies with subsidised loans that can continue to be successful on the global market in the future. We banks want to and can make an important contribution here!“.

Alian Godard, Chief Executive of the European Investment Fund, yesterday emphasized: "Especially now, in the period of the new start after the Corona crisis, guaranteed financing in the amount of €500 million for companies is a significant contribution to strengthening the economy in Austria. We are convinced that this will support innovative projects of Austrian companies that will be able to hold their own on the world market in the long term. UniCredit Bank Austria has been a successful partner of the European Investment Fund for many years and I am therefore particularly pleased that we can now jointly support companies with up to 3,000 employees and innovations in digitisation.“

"We are the only commercial bank in Austria that can support its customers with these extremely valuable guarantees," Wendler yesterday said. "The InnovFin initiative enables us to provide loans to innovation and research-oriented companies at very favourable conditions, as we pass on the cost benefits of the guarantee one to one. UniCredit Bank Austria is thus opening up further financing opportunities for future-oriented companies, thus underlining its role as a reliable partner for Austrian companies even in the difficult period following the Corona crisis. Recently, UniCredit Bank Austria processed InnovFin loans of around 23 million euros to support progressive companies. “

Click here for the full press release

 

Original article link: https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1397

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