HSH Nordbank and the European Investment Bank agree two global loans amounting to EUR 100 million to finance SMEs and renewable energies
Luxembourg/Hamburg/Kiel, August 24, 2011 - HSH Nordbank and the European Investment Bank (EIB) have agreed two global loans of EUR 50 million each to finance SMEs and investments in the area of renewable energies.
Within the terms of the agreement HSH Nordbank can offer SME clients low-interest, long-term finance for a total of EUR 50 million. A further EUR 50 million is available to finance projects by private and public-sector investors in the areas of renewable energies, environment protection, sustainable municipal development and healthcare. HSH Nordbank will pass on the benefits of the global loans to its clients in the form of loans at preferential interest rates. This is intended to facilitate the implementation of as many projects as possible, each with a moderate amount of finance.
With its focus on SMEs and entrepreneurs, combined with decades of experience and profound sector know-how in the area of renewable energies, HSH Nordbank is an outstanding partner for supporting the EIB in its primary objectives of promoting SMEs and environment protection as well as a secure, competitive and sustainable supply of energy.
“With HSH Nordbank as our partner we are able to reach suitable clients with a view to achieving sustainability and growth effects in the area of renewable energies, which will also spread to other knowledge-based sectors. The same applies for our specific support for SMEs. This frequently enables us to implement impressive projects with a relatively small amount of finance,” says Matthias Kollatz-Ahnen, Vice-President of the EIB.
“These two global loans are the expression of our clear focus on SMEs. They allow us to offer existing and new clients medium and long-term funding on more attractive terms and conditions,” said Torsten Temp, member of the Management Board of HSH Nordbank.
The loan agreements now signed by the two Banks mark the continuation of their successful collaboration in the past and create the basis for future work together in forward-looking business areas.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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