The European Investment Bank (EIB) has signed an agreement with Deutsche Kreditbank for a €250m framework loan to enable the German bank to mobilise €500m for a variety of projects including renewables.
The EIB said half of the €500m will go to clean power schemes through individual loans from Deutsche Kreditbank to its customers, with an initial tranche of €50m already having been drawn down.
EIB vice-president responsible for operations in Germany Ambroise Fayolle said: “As part of its climate strategy, the EU bank is committed to dedicating at least a quarter of its loans to strengthening environmental protection.”
Deutsche Kreditbank board member Rolf Mähliß said: “We are pleased to be able to continue the long-standing and successful cooperation with the EIB, especially in the renewable energy field.”
Image: EIB
Europe backs German clean power
EIB loan of €250m to Deutsche Kreditbank will help fund renewables
By EBS