BAKU, Azerbaijan, December 19. Erste Group Bank AG, based in Vienna, has signed a €200 million guarantee framework agreement with the European Investment Bank (EIB) to accelerate wind energy projects across the European Union, becoming the first Austrian bank to join the initiative, Trend reports via the EIB.
The agreement forms part of an €8 billion EU-wide guarantee program aimed at strengthening the competitiveness of European wind turbine manufacturers. Under the framework, Erste Group can enhance its trade finance operations by issuing bank guarantees backed up to 50% by the EIB, unlocking additional financing for critical investments in the sector.
“The partnership between Erste Group and the EIB is a natural fit, as both institutions share a strong commitment to sustainability and innovation,” the bank said.
In 2024 alone, Erste Group provided over €900 million in support for the renewable energy industry. By combining the EIB’s risk-sharing instruments with Erste Group’s expertise in financing renewable projects across Central and Eastern Europe, the framework agreement is expected to accelerate wind power development and reinforce the industrial base underpinning Europe’s green transition.