- Building Bank operates with profit
The Thuringian Development Bank provided financial support and loans in the hundreds of millions last year to boost the economy and municipalities. A total of 494 million euros in grants were approved and 328 million euros in loans were issued, the bank announced, citing its 2023 business report from Erfurt.
In total, around 4,000 projects were funded and 360 investments were financed. This included 103 municipal loans totaling 142 million euros. The state's development bank operates at a profit: It ended the year with a surplus of 2.2 million euros, just as it did the previous year. The majority of the funds go to the state as the bank's shareholder.
Many investments were made in digitalization and IT processes
The development bank guided companies, municipalities, and private applicants through rough waters, the board explained. To make this possible, significant investments were made in digitalization and IT processes. "We will continue to do so," said CEO Matthias Wierlacher.
The bank reports having an equity capital of 149 million euros. It has been operating since 1993 and supports the state in fulfilling public tasks. It implements the majority of Thuringia's funding, credit, and participation programs.
The Thuringian Development Bank's 2023 business report highlighted the approval of 494 million euros in grants and the issuance of 328 million euros in loans, mainly for municipalities. In alignment with this strategy, the bank announced it funded over 100 municipal loans totaling 142 million euros within the financial report.
