- Unprecedented borrowing for municipal development projects
In 2024, the Hessian Investment Fund is dumping more dough than ever before, dishing out loans to local municipalities for various initiatives such as constructing or refreshing schools and sports facilities. The Statement from Wiesbaden's ministry reveals that 142 projects, totalling 327.7 million euros, will receive financial backing in this fiscal year.
A significant portion of this sum, roughly 178 million euros, is allocated by the municipalities for educational and school-related ventures. "Two other main areas, each receiving approximately 22 million euros, are sports and childcare, as well as integration," Finance Minister Alexander Lorz (CDU) explained. About 29 million euros are allocated for water infrastructure, sewage systems, and water protection, around 21 million euros for fire prevention and protection, and 19 million euros for road and bridge construction.
"Local leaders know best what's needed. It brings me joy that we, as a state, can aid the municipal community in executing these vital projects with more advantageous financing," Lorz concluded. Established over five decades ago, the Hessian Investment Fund serves as a financing option that usually proves more fruitful for individual projects than the open market, according to the Finance Ministry.
The Hessian Investment Fund also provides funding for improving public spaces, with several meadows in the city scheduled to undergo renovations this year. Following the investments in infrastructure, the citizens can enjoy enhanced leisure activities in these revitalized meadows.
