EIB: Fewer Funds for Austrian Companies

People ♦ Published: February 24, 2012; 11:39 ♦ (Vindobona)

After a record in 2011, the European Investment Bank (EIB) will reduce lending to Austrian companies this year.

EIB: Fewer Funds for Austrian Companies / Picture: © Europäische Investitionsbank

In 2011, EIB provided € 61bn as loans to European companies. This sum will be reduced to € 50bn in 2012. As the bank has to fear a downgrade of its „AAA“-rating, funds were cut considerable. Last year, Austria received € 2.02bn from EIB. Mainly infrastructure projects, such as the construction of railway and highway projects were financed. This year, funds will be reduced said…