- Haspa to receive EIB financing of €100 million to facilitate investments of small and medium-sized companies
- Together with Haspa, €280 million of investments will be unlocked for small businesses and mid-caps with an additional focus on renewable energy and and energy efficiency projects in Germany
The European Investment Bank (EIB) will provide a multi-beneficiary intermediated loan (MBIL) of €100 million to Haspa, Germany’s largest savings bank based in Hamburg. Haspa will then provide financing to small and medium-sized companies (SMEs) and mid-caps with up to 3 000 employees in Germany.
The financial advantages of the EIB investment, like lower interest rates, will be passed on to small businesses and mid-caps. Further advantages of the EIB loan are long-term funding and diversification of external funding.
One-third of the loan is earmarked for financing onshore wind, solar photovoltaic and energy efficiency projects in Germany. Using the EIB loan, Haspa can invest up to €280 million to support small businesses and mid-caps.
The operation is the first project with a German savings bank. The funds will enable companies to enhance their financing structure in line with the long economic lifetime of the financed assets and invest in their green transition.
“Small businesses and mid-caps are the backbone of our European economy. Supporting them is one of the core missions of the EIB. Haspa’s first EIB-supported lending programme helps stabilise the financial position of these companies in northern Germany, and together we support investment in innovative projects for the green and digital transition,” said EIB Vice-President Nicola Beer.
“The multi-beneficiary intermediated loan (MBIL) of the European Investment Bank helps us to provide even better financial support to our medium-sized companies in the Hamburg metropolitan region and to accompany them on their path to sustainable transformation. We are very pleased that Haspa, the largest savings bank in Germany and the leading financier of small businesses in the region, can be a pioneer here,” said Haspa divisional board member Michi Maaß.
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.