2023-06-06 04:41:05
— OeEB Impact Report transparently shows the development effects achieved through investments — 41% of the total portfolio of EUR 1.62 billion relates to climate-related projects
Vienna (OTS) – Oesterreichische Entwicklungsbank AG (OeEB) invests on behalf of the Federal Ministry of Finance (BMF) in economically sustainable and developmentally sensible private sector projects in developing and emerging countries. The development effects achieved and their contribution to achieving the Sustainable Development Goals (SDGs) are disclosed in the OeEB Impact Report, which is published annually. In addition to credit financing and equity investments, OeEB also offers accompanying technical assistance measures.
“In our strategy, we focus on financing and investments in the areas of renewable energy, infrastructure and financial inclusion and the promotion of micro, small and medium-sized enterprises. The two cross-cutting issues of climate protection and gender equality are given special consideration. As our current Impact Report shows, we were able to make a significant contribution in all of these areas. Our overall portfolio reached a new high of EUR 1.62 billion at the end of 2022,” explain OeEB board members Sabine Gaber and Michael Wancata.
fight against climate change
In particular, the commitment to combating the climate crisis was further expanded. Sabine Gaber: “41% of our total portfolio – more than 660 million euros – is accounted for by climate-related projects. By the end of 2022, around 3.8 million tons of CO2 emissions could be saved. More than 580,000 people received access to clean energy and around 7,400 gigawatt hours of electricity were produced from renewable energy sources.” In Serbia, for example, OeEB provided EUR 26.6 million for the construction of the Krivaca wind farm. When completed, the 103.3 MW wind farm is expected to generate 310 GWh of electricity annually for 75,000 households. In total, more than 4,000 MW of power generation capacity from renewable energy sources was created in projects financed by OeEB.
Strengthening of the local economy
Micro, small and medium-sized enterprises are the backbone of the economy in many developing and emerging countries, yet 70% do not have access to credit. “By providing financing to local banks or funds, we are helping to close this gap, creating economic growth and jobs. In 2022, around 291,000 micro, small and medium-sized enterprises will have access to credit,” emphasizes Michael Wancata. More than 353,000 people were employed in the projects and companies financed by OeEB. For example, OeEB provides financing for Biotan Austria GmbH via the African-Austrian SME Investment Facility (AAIF+), which OeEB handles on behalf of the Federal Ministry of Finance. Biotan processes organic cashews from more than 1,000 small farmers in Tanzania and employs around 300 people. The construction of a new factory aims to increase annual production from 1,600 tons to 5,000 tons in the coming years.
Private Sector Mobilization and Gender Equality
The effects of the war in Ukraine and high inflation are currently restricting the financial scope of developing and emerging countries, in some cases considerably. The mobilization of funds from the private sector is therefore more important than ever. Around 75 million euros were mobilized in 2022. Another essential cornerstone for sustainable development and poverty reduction is equal rights for women and men. The issue of gender equality is therefore firmly anchored in OeEB’s corporate strategy and is given special consideration in all investments. At the end of the year, EUR 127 million from the OeEB portfolio contributed to the economic empowerment of women.
For more information and examples, see the current OeEB Impact Report 2022.
About Oesterreichische Entwicklungsbank AG (OeEB)
Oesterreichische Entwicklungsbank AG (OeEB) has been the development bank of the Republic of Austria since 2008 and is wholly owned by Oesterreichische Kontrollbank AG. As a specialist institute, it finances private investment projects in developing and emerging countries, which must make sense both economically and in terms of development policy. During the project, programs are supported with which additional development effects can be achieved. www.oe-eb.at
Questions & contact:
Austrian Development Bank AG
Verena Kastner
T: +43 1 533 12 00-2993
verena.kastner@oe-eb.at
1686027604
#OeEB #investments #people #developing #emerging #countries #supplied #clean #energy