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Successful first year for Oesterreichische Entwicklungsbank

Logo © Oesterreichische Entwicklungsbank AG

© Oesterreichische Entwicklungsbank AG

14.07.2009

One year since its foundation, the Oesterreichische Entwicklungsbank (OeEB) - mandated to act as the Development Bank of Austria - created over 21,000 jobs in developing and newly industrialising countries through 29 projects.

The Oesterreichische Entwicklungsbank AG (OeEB) - the official development bank of the Republic of Austria - can look back on a positive first year of operations. The 29 projects in South Eastern Europe, Africa, Central Asia and Central America, all realised by the OeEB, led to the creation of 21,000 jobs. A further 14,600 jobs in supply and production were also generated. OeEB investment amounted to EUR 71.5 million. On top of this, OeEB supported projects with EUR 14.1 million as part of the Advisory Programmes Projects, in order to secure and strengthen aspects of development policy. The first business year ended with a profit of over EUR 300,000.

The OeEB concentrates on projects aimed at building up local and regional financial markets, so that small and medium enterprises have easier access to financing in developing countries; this is seen as the basis for long-term economic development. Every project financed by the OeEB must be economically viable and conform to international development criteria.

The OeEB was founded in March 2008 as a company within the Oesterreichischen Kotrollbank (OeKB) . First and foremost, the OeEB supports private-sector projects in developing countries, is committed to projects that realise development policy aims and sees its work as an important contribution on behalf of Austria to meeting the UN Millennium Development Goals.

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