OeEB 2024 Impact Report Highlights EUR900 Million for Climate Projects

The Oesterreichische Entwicklungsbank AG (OeEB) has released its annual Impact Report for 2024, showcasing significant development effects and contributions to Sustainable Development Goals (SDGs). In the previous year, OeEB invested nearly EUR900 million in climate-related initiatives, supporting approximately 7,000 GWh of electricity generated from renewable sources.

According to the report, over 380,000 micro, small, and medium enterprises (MSMEs) in developing regions benefited from OeEB's financial programs. Of the total portfolio of EUR1.74 billion, EUR428 million was allocated to projects in Africa, with 17% directed towards the least developed countries. More than half of the portfolio focused on climate-relevant projects, underscoring OeEB's commitment to enhancing quality of life in developing nations.

The report highlights key strategic areas of OeEB's operations, including Green Finance, support for MSMEs, financial inclusion, infrastructure, industry, and gender equality. In 2024, 48% of the projects contributed to SDG 8, which focuses on decent work and economic growth, while 18% aligned with SDG 9, targeting industry, innovation, and infrastructure.

In addition to financial investments, OeEB has provided technical assistance to 183 companies and financial institutions, training approximately 10,000 individuals within these organizations. This support aims to prepare projects for bankability and ensure effective implementation.

The report also details the job creation resulting from OeEB's financing efforts, with more than 300,000 individuals employed in projects and businesses financed by the bank. This job creation is crucial for poverty reduction, as the private sector plays a vital role in economic development. Furthermore, OeEB is committed to promoting gender equality by ensuring that all projects avoid discrimination and empower women economically. By the end of 2024, EUR173 million of the portfolio was invested in initiatives specifically aimed at strengthening women's economic positions.

In light of the increasing impacts of climate change, 2024 marked a significant year, with the global average temperature surpassing pre-industrial levels by 1.5 °C. This has led to extreme weather events such as floods, heatwaves, and wildfires, emphasizing the urgency of accelerating the green transition. OeEB's strategy to prioritize Green Finance and climate protection is reflected in the generation of 6,983 GWh from renewable energy projects facilitated by the bank, enough to power around 2 million households in Austria for a year.

For more details on OeEB's impact on development cooperation, the full Impact Report is available at www.impact-report.at and on their official website www.oe-eb.at/publikationen.