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Saturday, February 23, 2019

European Investment Bank, Deutsche Kreditbank ink deal for energy, infrastructure programs

The European Investment Bank (EIB) has inked an agreement with Deutsche Kreditbank AG (DKB) for a framework loan worth $267 million. 

The loan will provide funds for DKB to funnel into renewable energy products, health and education facilities and transportation infrastructure projects in Germany.

“As part of its climate strategy, the EU bank is committed to dedicating at least a quarter of its loans to strengthening environmental protection," Ambroise Fayolle,  EIB's vice president of German operations, said. "We can substantially reduce energy consumption in Germany and Europe if we manage to boost the use of renewable energy and considerably improve energy efficiency in the building sector. Both approaches are crucially important for sustainable environmental protection. I therefore very much welcome this new agreement with DKB, which is strongly geared towards the financing of renewable energy projects."

DKB board member Rolf Malib is pleased with the partnership.

“We are pleased to be able to continue the long-standing and successful cooperation with the EIB, especially in the renewable energy field," he said. "From the mid-90s onwards, DKB has supported its customers as a financing partner for renewable energy investments in Germany."

Organizations in this Story

European Investment Bank

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