Page 5 - OeEB-AnnualReport_2013

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OeEB Annual Report 2013
5
ii.
Business in the year
Investment Finance segment
In the 2013 financial year, OeEB was approached
with numerous potential investment projects. For the
16 projects approved in the year, financing contracts
totalling EUR 175.25 million were signed.
The required approvals for the projects (which, like all
OeEB projects, are in the private sector) were obtained
from the Executive Board, the Supervisory Board, the
Business & Development Committee and the Advisory
Board. In the year under review, credit lines were
extended for projects in developing and transition
countries in the South Caucasus, Southeastern
Europe, Central America and Asia, including in Least
Developed Countries. As a specialist for private sector
development, OeEB provides funding where commer-
cial financing on the open market is unavailable or
insufficient.
Consistent with the business strategy, most of the
new commitments of approximately EUR 61.56 million
were for climate-protection-oriented investment in the
areas of renewable energy and energy efficiency, and
for projects that further environmental protection. In
these sectors, the bank’s financings also supported
Austrian companies investing in transition economies
and developing countries.
True to its mandate, in addition to fostering climate
protection, OeEB specifically strives to provide
long-term finance for micro businesses and small and
medium enterprises (MSME), which in 2013 received
about EUR 52.93 million of support.
Additionally, OeEB contributed EUR 40.76 million to
major infrastructure projects (including a port project)
and about EUR 15 million to financings in the agricul-
ture sector.
Through European Financing Partners (EFP), a
co-financing mechanism, the EDFI members together
with the European Investment Bank (EIB) promote
entrepreneurial investment in the Africa-Caribbean-
Pacific (ACP) region. With another co-financing
instrument, the Interact Climate Change Facility
(ICCF), the members of EDFI, the European Investment
Bank (EIB) and Agence Française de Développement
(AFD) jointly pursue climate-friendly projects world-
wide in developing and transition countries.
Management report