- Economy recovers from COVID-19 impact as investments in digitalisation and innovation pick up
- Volume of new commitments in promotional field Housing up by 26% to 1.6 billion euros
- More money for environmental protection: demand for ‘green’ financing up by 53 percent
The first six months of 2021 saw NRW.BANK extend promotional funds in the total amount of 5.3 billion euros. This means that the promotion volume declined by 29 percent compared to the previous year, which was an exceptional year due to the coronavirus, but is at the level of the pre-COVID-19 year 2019 (previous year: € 7.4 billion; 2019: € 4.9 billion). The lower volume of new commitments is due to the now reduced need for liquidity loans as well as to the improved economic situation. In the same period of the previous year, companies had applied for many COVID-induced promotional programmes, especially during the first lockdown.
Companies’ increased investments in fields such as digitalisation and innovation, especially through the Bank’s equity capital programmes, clearly show that the economy has recovered from the effects of the COVID-19 pandemic. Under the NRW.Venture programme, NRW.BANK committed 12.5 million euros (previous year: € 5.4 million, >+100%), while a total amount of 7.3 million euros (previous year: € 4.5 million, +63%) was committed under the Fondsinvestments Mittelstand programme. Demand for the NRW.BANK.Digitalisierung und Innovation loan programme also picked up, with new commitments totalling 88.6 million euros (previous year: € 69.6 million, +27%). At 1.6 billion euros, the total volume of new commitments in the promotional field Economy declined by 56 percent due to the one-time effects of the previous year (€ 3.6 billion).
The volume of new commitments in the promotional field Housing increased by 26% to 1.7 billion euros (previous year: € 1.3 billion). The volume was driven primarily by the KfW-Energieeffizient Bauen programme at 1.1 billion euros (previous year: € 668.4 million, +58%) and by the KfW-Wohneigentumsprogramm at 243.2 million euros (previous year: € 272.5 million, -11%).
In the promotional field Infrastructure/Municipalities, the volume of new commitments declined by 19 percent to 2.0 billion euros (previous year: € 2.5 billion). To make it easier for North Rhine-Westphalian municipalities to invest in school infrastructure, NRW.BANK introduced the first negative interest rate under the NRW.BANK.Moderne Schule programme at the beginning of the year.
As this made the programme even more attractive, demand was much higher than in the previous year at 96.4 million euros (previous year: € 43.3 million, >+100%). By adjusting the programme, the promotional bank responded to the expiry of the promotional programme NRW.BANK.Gute Schule 2020.
The volume of new commitments in the Energy Transition / Environmental Protection theme, which covers all promotional fields, increased strongly, as NRW.BANK extended promotional funds in the amount of 1.8 billion euros, up 53% on the same period of the previous year (€ 1.2 billion). A strong increase was recorded by the NRW.BANK.Energieinfrastruktur programme (€ 316.8 million; previous year: € 191.7 million, +65%).
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NRW.BANK is the promotional bank of North Rhine-Westphalia (NRW). Its mission is to support its owner – the state of North Rhine-Westphalia – in the completion of its structural and economic policy tasks. In its three promotional fields “Economy”, “Housing” and “Infrastructure/Municipalities”, NRW.BANK uses a wide range of promotion tools – from low-interest promotion loans to equity financing to advisory services. It cooperates with all banks and savings banks based in NRW on a competition-neutral basis. NRW.BANK takes into account the existing offers by the Federal Government, the North Rhine-Westphalian government and the European Union in the arrangement of its promotion.
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