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KfW Bankengruppe and NRW.BANK signed two global loan agreements
KfW Bankengruppe and NRW.BANK signed two global loan agreements in Frankfurt. Under these agreements KfW will make a total of EUR 260 million available to NRW.BANK. The funds from the global loans will benefit the municipalities in the German federal state of North Rhine-Westphalia and will be used to finance investments in municipal infrastructure.
NRW.BANK will further reduce the interest rates on KfW's promotional funds out of the KfW programme "Investment Loans for Municipalities" under promotional programmes of its own.
Global loans from KfW are flexible promotional instruments that can be used in many different ways and – if granted to promotional institutions in the federal states – can, by combining KfW and state financing, make the implementation of federal and state promotional goals particularly efficient. As the financing comes from one source, customers benefit from the double promotion as well as from a particularly streamlined processing.
Global loan cooperation between KfW and NRW.BANK has been ongoing since 2000. The signing of the present agreements takes the total volume of global loan transactions at the two institutions to some EUR 12.8 billion.
6 April 2009
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