The European Investment Bank (EIB) is providing a €200 million (£153m) loan for projects including renewable energy in Germany.

It has signed a loan agreement with German bank Deutsche Kreditbank (DKB), which will lend the funds to small and medium-sized companies (SMEs) and public sector organisations.

Eligible projects include wind and solar farms as well as the extension of supply networks.

Wilhelm Molterer, EIB Vice-President said: “This offering is consciously targeting multiple sectors to give a sustainable boost to growth and employment.”

The EIB funds can be used to finance up to 50% of the cost of individual projects.