| Austria Wirtschaftsservice Gesellschaft (aws) | |
| Type: | Economic Development Bank |
| Foundation: | 1954 |
| Location: | Vienna, Austria |
| Key People: | DI. Bernhard Sagmeister,Mag.a Edeltraud Stiftinger |
| Industry: | Financial services |
| Num Employees: | 250 (2009) |
| Products: | Public sector banking |
| Homepage: | aws |
The Austria Wirtschaftsservice Gesellschaft (aws) is an Austrian federal development and financing bank for the promotion and financing of companies. The bank provides around €1 billion (2008) in development aid, mainly as grants, loans and guarantees to finance projects in the value of almost €11 billion (2008).[1] aws is focused on four different areas: Technology and innovation, equity and capital markets, promotion and financing as well as services for research and development management.[2] In addition to these core activities it also administers the Austrian federal economic stimulus package of around €1 billion in 2009 and 2010.[3] According to the OECD, Austria’s total official development assistance (ODA) (USD 1.9 billion) increased in 2022 due to an increase in in-donor refugee costs. It represented 0.39% of gross national income (GNI).[4]
The origins of this bank go back to four different public entities that merged in 2002 into aws: The BÜRGES Förderungsbank was founded in 1954 as a special bank for the support of small and mid-sized companies. In 1962, the ERP-Fonds (European Recovery Program) was set up based on the funds of the Marshall Plan to provide credit for economic development and innovation support. In 1969 the Finanzierungsgarantie Gesellschaft mbH was created in order to reduce the risk for project financing. The fourth organization, the Innovationsagentur, was founded in 1984 to support technology transfer.[5]
Austria Wirtschaftservice supports companies in Austria with grants, loans, guarantees and consulting services in the following areas:
The aws cooperates closely with international financing institutions such as EBRD, European Investment Bank, European Investment Fund, IFC and World Bank. It is member of AECM (European Mutual Guarantee Association), EDFI (European Development Finance Institutions) and NEFI (Network of European Financial Institutions for SME).[2]