GERMANY EXTENDS SEVERAL BILLION WORTH LOANS TO BANKS

Due to the threatening credit scarcity, the federal state reached a decision on providing government guarantees. To this end, KwF, a government-owned promotional bank, is supposed to grant EUR 10 billion to the German money institutions. This will, first and foremost, be beneficial for small and medium enterprises, according to the expectations of the German Minister of Economy, Karl-Theodor zu Guttenberg.

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