WIBank has provided more than 1.5 billion euros in Corona aid to date

On behalf of the state Wirtschafts- und Infrastrukturbank Hessen (WIBank) has provided a total of more than €1.5 billion in corona aid to Hessian municipalities, companies, educational institutions and healthcare facilities since the start of the pandemic in March 2020. This involves aid in the form of (trust) loans, credits, grants, equity investments and guarantees. Even though the pandemic is not yet over, Dr. Michael Reckhard, a member of the management board of Wirtschafts- und Infrastrukturbank Hessen, is optimistic about the future: "A large number of companies in Hesse have made it through the Corona crisis remarkably well. On the one hand, this is thanks to the numerous aid programs that we have developed and provided together with the state, the federal government and other players from Hessen's business community. Above all, however, the enormous commitment, perseverance and creativity of many entrepreneurs deserve special mention. They make a significant contribution to sustainably strengthening Hessen as a business location."

WIBank has approved 8,779 loans and credits as Corona assistance with a total volume of around 272 million euros to the Hessian economy alone since the start of the Corona pandemic until the end of 2021. In this context, small and medium-sized enterprises in the commercial sector and freelancers in Hesse in particular have benefited from the two state aid programs Hesse Micro-Liquidity and Liquidity Aid for SMEs in Hesse, which were already introduced at the end of March and beginning of April 2020. Both programs can still be applied for until March 31, 2022. To strengthen the equity base, 38 liquidity participations amounting to EUR 16.4 million have been approved for start-ups and small and medium-sized enterprises via Beteiligungs-Managementgesellschaft Hessen mbH (BM H), which is part of WIBank, until the end of 2021.

To make it easier for entrepreneurs to take out large-volume bank loans, the state of Hesse has supported Hessian companies with guarantees totaling around EUR 42.2 million as part of state guarantees and via WIBank guarantees (Covid-19). As the state's mandatary, WIBank is the contact and processing agency for these guarantees.

Hessian hospitals were granted almost EUR 1,144 million in trust grants. Of this amount, approximately 10 million euros were disbursed from state funds for the procurement of respiratory equipment and approximately 1,134 million euros were disbursed from federal funds as compensation payments and supply surcharges to hospitals due to special burdens caused by the Corona virus.

From November to December 2021 alone, 28 municipal school authorities and local youth welfare organizations received provisional notifications of grants totaling 17.6 million euros to finance air purification equipment. In addition, Hessian municipalities were given a helping hand with around 13.4 million euros in trust grants to support sports facilities, such as the refurbishment of swimming pools. Around 2.5 million euros in trust grants were also made available to catering establishments in Hesse.

"With the Corona aid for public life, the health system and the Hessian economy, which was also made possible by the state of Hesse, we have jointly succeeded in accompanying people through the Corona pandemic and strengthening society. Behind thousands of processed aid applications are thousands of fates in often existential hardship. People can continue to count on us and it is good that we have such a powerful development bank in Hesse, which is also and especially in times of crisis an important partner," said Finance Minister Michael Boddenberg and Economics Minister Tarek Al-Wazir, taking positive stock.

"Even though the issue of Corona aid continues to keep us all enormously busy, our promotional mandate encompasses much more. For example, digitization and sustainability are major challenges that affect us all and which we support accordingly with our funding offers. Whether companies or municipalities - as the state's development bank, we support all those involved in this important transformation process in order to make Hesse as a whole strong for the future and to continue to successfully drive forward structural change," comments Gottfried Milde, spokesman for WIBank's management.