Support as an Engine for Growth and Future in Lower Saxony
Interview with Michael Kiesewetter, Chairman of the Board of the Investment and Support Bank of Lower Saxony (NBank)
Support is a key to growth, innovation, and stability - especially in times of change. As the central support bank of the state, the Investment and Support Bank of Lower Saxony (NBank) in Hanover takes on this task. Chairman Michael Kiesewetter explains how his institute strengthens companies, municipalities, and people and accompanies Lower Saxony into the future.
Wirtschaftsforum: Mr. Kiesewetter, how has NBank developed into its current significance in the Lower Saxony funding landscape?
Michael Kiesewetter: We started in 2004 as a pure economic development bank and were transformed into a public-law institution in 2008. Since then, NBank has developed into a comprehensive funding institute: we support businesses, local authorities, private individuals, and institutions – with grants, guarantees, loans, and equity capital. Today, we employ about 720 staff, manage a balance sheet total of 6.7 billion EUR, and handle approximately 1.7 billion EUR in funding volume annually. The past years have been marked by crises. Instead of merely setting impulses for growth and innovation, we had to help quickly and effectively: during the coronavirus pandemic, amid the energy crisis, following the attack on Ukraine, and during several instances of flooding. These exceptional situations have made us resilient and shown the strength a development bank can muster when needed.
Wirtschaftsforum: What are the current focus areas of funding by the NBank?
Michael Kiesewetter: Our main focuses are in digitalization, energy efficiency, sustainable infrastructure, and affordable housing. Over half of the people in Lower Saxony are eligible for a housing entitlement certificate. Therefore, we specifically promote projects that relieve the middle class. Municipal infrastructure has also grown significantly, with about 400 million EUR in new business annually—from schools to town halls to fire stations. Qualification is equally important: With programs like the Aufstiegs-BAföG and further education funding, we prepare people for the workforce of tomorrow. We support start-ups from the idea to the growth phase—with start-up scholarships, high-tech incubators, and through our investment company NBank Capital, which provides equity.
Wirtschaftsforum: Many entrepreneurs find the path to funding complicated.
Michael Kiesewetter: That is understandable. The funding jungle is real—just with us alone, there are over 100 programs, plus those from the federal government and the EU. We cooperate with consulting centers throughout the country, with chambers and economic promoters, and offer an online funding finder for initial orientation. We also have offices regionally – close to the people and companies in the country. Bureaucracy remains a challenge: The regulations come from EU or federal guidelines, and we try to make them as understandable and practical as possible.
Wirtschaftsforum: Lower Saxony faces major structural changes - what role does NBank play in this?
Michael Kiesewetter: We see ourselves as a hinge between business and politics. We listen to where challenges lie and translate political objectives into effective funding instruments. Key for the coming years are our three Ds: Decarbonization, Demographics, and Digitalization. The associated transformation demands huge investments, which we want to support with intelligent financing models. Instead of mere subsidies, we focus more on loans to leverage public funds and use them more sustainably. A planned increase in capital is intended to additionally strengthen our impact. Lower Saxony needs a powerful, competition-neutral promotional bank that financially supports the energy transition, mobility transition, and digitalization - while working closely with local banks.
Wirtschaftsforum: How do you assess the economic perspective for Lower Saxony?
Michael Kiesewetter: Economically, we are currently in a challenging phase, but I see stabilization emerging. The future is less decided in economic cycles than in how well we master the transformation. Lower Saxony has great opportunities - with its industrial base, research landscape, and innovation power. It is important that we reduce bureaucracy, simplify processes, and connect more strongly at the European level. Then we can harmonize growth, sustainability, and quality of life.
Wirtschaftsforum: What personally motivates you to drive these issues forward with such commitment?
Michael Kiesewetter: Quite simply: We see on a daily basis that our work makes a difference. When a young company can grow through our support, when a family finds affordable housing, or when a craft business survives a crisis - then we know that our work has meaning. We don’t need to maximize shareholder return but can create real societal value. That drives me and my team - we support Lower Saxony, and we do it with conviction.