OeEB was founded in March 2008 as the development bank of the Republic of Austria. With a public mandate we work for better living conditions in developing countries.
We create better living conditions through a vibrant economy.
We are a wholly-owned subsidiary of Oesterreichische Kontrollbank (OeKB). As a private stock company with a public mandate, we provide financing at near-market conditions, but we can take on more economic risk than commercial banks. We acquire a financial interest in companies in developing countries and emerging markets and strengthen the developmental effects with collateral measures, our Business Advisory Services.
We are present in markets in developing countries and emerging markets in which companies often have no access to urgently needed capital, both credit and equity. Investments in these projects create jobs; these projects increase tax revenues and bring foreign currency into the country.
Our Mandate
As the development bank of Austria, we act with a mandate from the federal government and are committed to the objectives of the Austrian Development Cooperation. We finance and support projects in developing countries and emerging markets that are economically sustainable and have positive impacts on development.
We finance sustainable development.
It is our mandate to provide stimulus for sustainable economic growth in order to improve the living conditions of people in disadvantaged regions over the long term. In doing so, we are careful to adhere to international labour, environmental and social standards.
We finance projects that comply with the criteria for developmental policies. They
- contribute to the creation of jobs and national income,
- improve access to modern infrastructure and to financing,
- support the supply of energy (in particular through renewable energy projects and energy efficiency projects).
We invest in promising business engagement.
We strengthen Austria's relationship with those countries that want to take advantage of private sector involvement in order to make long-term improvements to their living conditions. Our offerings supplement and support the work that Austria's politicians, investors, banks and citizens do for development in the poorer countries of the world.
Legal Basis
The legislative basis for our business activities is defined primarily in the scope of the Austrian Export Guarantees Act - in German "Ausfuhrförderungsgesetz".
MoreThe official legislative texts can be found in the Austrian Federal Law Gazette or online in the Legal Information System of the Republic of Austria (RIS).
Rating
On 1 July 2019, Standard & Poor's Ratings Services assigned its 'AA+' long-term and 'A-1+' short-term issuer credit ratings to Oesterreichische Entwicklungsbank AG. The rating thus corresponds to the rating of the Republic of Austria.
MoreAccording to Standard & Poor's this rating reflects Oesterreichische Entwicklungsbank's critical role in implementing Austria's international development policy, since it is the government's sole agent for financing private-sector investments in developing and transition countries. Furthermore, OeEB's connection to Oesterreichische Kontrollbank AG (OeKB) had a positive effect on the rating of OeEB.