Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Improved funding for innovative companies: KfW introduces "Entrepreneur Loan Plus"

31.10.2014
  • KfW advised its Irish partners on setting up the SBCI
  • KfW and the SBCI are signing a global loan for EUR 150 million to finance SMEs

The Strategic Banking Corporation of Ireland (SBCI) is being officially launched in Dublin today by Michael Noonan (Ireland's Minister for Finance) and Brendan Howlin (Ireland's Minister for Public Expenditure and Reform).

The Irish Government also invited Dr Wolfgang Schäuble (Federal Minister of Finance), Dr Ulrich Schröder (Chief Executive Officer of the KfW Group) and Dr Werner Hoyer (President of the EIB) to this ceremonial event.

KfW has been supporting the Irish Government in its measures to set up an institution to promote the SME sector since November 2013.

Indeed, in numerous workshops, it has shared its expertise on all aspects of SME financing with its Irish partners, thereby contributing to an efficient set-up process for the new institution. Moreover, the German Federal Government had assigned KfW the task of negotiating a global loan with the SBCI.

These negotiations were also completed this week, with the result that KfW is now also providing the SBCI with financial support in the form of a global loan guaranteed by the German Federal Government. The loan is for EUR 150 million and is earmarked for the financing of investment loans granted to small and medium-sized enterprises in Ireland.

"Ireland has made considerable efforts in recent years and demonstrated impressive willingness for reform on the day. The foundation of the SBCI couldn't come at a better time, as demand for entrepreneur loans is rising sharply in Ireland. We are delighted to make yet another active contribution to economic growth in Ireland through our global loan," said Dr Ulrich Schröder, Chief Executive Officer of the KfW Group.

The task of the SBCI, which is owned by the Irish state, is to provide liquidity and thereby finance investments made by Irish SMEs. In line with the method employed by many European promotional banks, the SBCI's funds are being handed out to SME customers as loans through regular banks.

See the newest Research document "Ireland: Successful Return" from KfW's Economic Research team, from October 31, 2014 under: http://ots.de/U0ocC/

Presscontact:
KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt
Kommunikation (KOM), Nathalie Cahn,
Tel. +49 (0)69 7431 2098, Fax: +49 (0)69 7431 3266,
E-Mail: presse@kfw.de, Internet: www.kfw.de 

Nathalie Cahn | presseportal

Further reports about: Bankengruppe Banking Corporation Dublin Finance Ireland KfW KfW Bankengruppe Loan Moreover SME Strategic investments

More articles from Business and Finance:

nachricht Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Fizzy soda water could be key to clean manufacture of flat wonder material: Graphene

Whether you call it effervescent, fizzy, or sparkling, carbonated water is making a comeback as a beverage. Aside from quenching thirst, researchers at the University of Illinois at Urbana-Champaign have discovered a new use for these "bubbly" concoctions that will have major impact on the manufacturer of the world's thinnest, flattest, and one most useful materials -- graphene.

As graphene's popularity grows as an advanced "wonder" material, the speed and quality at which it can be manufactured will be paramount. With that in mind,...

Im Focus: Exotic quantum states made from light: Physicists create optical “wells” for a super-photon

Physicists at the University of Bonn have managed to create optical hollows and more complex patterns into which the light of a Bose-Einstein condensate flows. The creation of such highly low-loss structures for light is a prerequisite for complex light circuits, such as for quantum information processing for a new generation of computers. The researchers are now presenting their results in the journal Nature Photonics.

Light particles (photons) occur as tiny, indivisible portions. Many thousands of these light portions can be merged to form a single super-photon if they are...

Im Focus: Circular RNA linked to brain function

For the first time, scientists have shown that circular RNA is linked to brain function. When a RNA molecule called Cdr1as was deleted from the genome of mice, the animals had problems filtering out unnecessary information – like patients suffering from neuropsychiatric disorders.

While hundreds of circular RNAs (circRNAs) are abundant in mammalian brains, one big question has remained unanswered: What are they actually good for? In the...

Im Focus: RAVAN CubeSat measures Earth's outgoing energy

An experimental small satellite has successfully collected and delivered data on a key measurement for predicting changes in Earth's climate.

The Radiometer Assessment using Vertically Aligned Nanotubes (RAVAN) CubeSat was launched into low-Earth orbit on Nov. 11, 2016, in order to test new...

Im Focus: Scientists shine new light on the “other high temperature superconductor”

A study led by scientists of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) at the Center for Free-Electron Laser Science in Hamburg presents evidence of the coexistence of superconductivity and “charge-density-waves” in compounds of the poorly-studied family of bismuthates. This observation opens up new perspectives for a deeper understanding of the phenomenon of high-temperature superconductivity, a topic which is at the core of condensed matter research since more than 30 years. The paper by Nicoletti et al has been published in the PNAS.

Since the beginning of the 20th century, superconductivity had been observed in some metals at temperatures only a few degrees above the absolute zero (minus...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Call for Papers – ICNFT 2018, 5th International Conference on New Forming Technology

16.08.2017 | Event News

Sustainability is the business model of tomorrow

04.08.2017 | Event News

Clash of Realities 2017: Registration now open. International Conference at TH Köln

26.07.2017 | Event News

 
Latest News

A Map of the Cell’s Power Station

18.08.2017 | Life Sciences

Engineering team images tiny quasicrystals as they form

18.08.2017 | Physics and Astronomy

Researchers printed graphene-like materials with inkjet

18.08.2017 | Materials Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>