For 10 years, OeEB has been contributing to sustainable economic development. At year-end 2017, OeEB’s total portfolio amounted to EUR 1.08 billion with newly signed loans and equity participations of EUR 255 million.
"By providing loans and equity capital for investments in developing countries we create jobs, improve infrastructure and at the same time prepare markets for Austrian companies," explain Sabine Gaber and Michael Wancata, members of OeEB’s executive board. "This makes us an important partner for private-sector companies in implementing the Sustainable Development Goals (SDGs)."
Innovative ways of financing development
In doing so, OeEB seeks to find innovative ways of financing development: In 2017, OeEB and ILF Consulting Engineers, a renowned Austrian engineering and consulting firm, founded a joint project development company. The aim of "Rendcor" is to provide Austrian know-how and capital for renewable energy projects in developing countries. First projects will be implemented in Laos.
Business year 2017: Results at a glance
Since the beginning of 2017, OeEB has been financing its Advisory Programmes projects – measures to enhance the developmental impact of OeEB’s financing projects – from its own profits. As a result, OeEB’s net profit for the year amounted to EUR 6.7 million compared to EUR 8.0 million in 2016 with an operating result of EUR 8.9 million (2016: 10.1 million).
In 2017, OeEB signed credit agreements for a total value of EUR 232.51 million as well as equity participations in the name of the Republic of Austria of EUR 22.43 million. OeEB’s total portfolio amounted to EUR 1.08 billion at year-end 2017.