Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

KfW signs first development loan in financial sector with India

08.11.2013
- USD 300 million for micro and small Enterprises

- Important contribution to more employment, economic growth and the reduction of poverty

- USD 40 million for environmentally-friendly municipal infrastructure projects

KfW Development Bank has signed a USD 340 million agreement with the Industrial Development Bank of India (IDBI) on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ).

The Indian bank will channel USD 300 million of the funds through to microfinance institutions (MFI) and micro and small Enterprises (MSEs) in urban and rural areas for refinancing purposes and to provide capital relief. A lack of access to needs-based financing remains the greatest barrier to growth for Indian micro and small companies. Their financing shortfall is estimated at more than EUR 40 billion. Here the development loan will provide considerable relief.

USD 40 million of the total will be used to realise selected infrastructure projects such as environmentally-friendly water supply and wastewater disposal in municipalities, as well as energy distribution systems within the framework of private-public partnership models.

"With this credit line, KfW is providing the IDBI with an important and broadly effective contribution towards creating income and fighting poverty in India. Growth among small companies triggers local demand and consumption, secures employment and is a key factor in the creation of new jobs", said Dr Norbert Kloppenburg, member of the Executive Board of the KfW Group.

The importance of the almost 30 million Indian micro, small and medium-sized companies of the formal sector is enormous. They generate 45% of industrial production, contribute 40% of the production intended for export and provide employment to over 69 million people.

With a portfolio of EUR 2.3 billion, around three-quarters of which is made up of its own funds, KfW is one of the world's leading microfinance financiers, especially for equity investments and activities in Latin America and Eastern Europe/Central Asia. KfW has already established itself as the leader among the financiers of microfinance institutions in sub-Saharan Africa.

Contact:
KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt Kommunikation (KOM), Dr. Charis Pöthig, Tel. +49 (0)69 7431 4683, Fax: +49 (0)69 7431 3266,

E-Mail: presse@kfw.de

Dr. Charis Pöthig | presseportal
Further information:
http://www.kfw.de

More articles from Business and Finance:

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

nachricht Europe's microtechnology industry is attuned to growth
10.03.2017 | IVAM Fachverband für Mikrotechnik

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: Strathclyde-led research develops world's highest gain high-power laser amplifier

The world's highest gain high power laser amplifier - by many orders of magnitude - has been developed in research led at the University of Strathclyde.

The researchers demonstrated the feasibility of using plasma to amplify short laser pulses of picojoule-level energy up to 100 millijoules, which is a 'gain'...

Im Focus: Can the immune system be boosted against Staphylococcus aureus by delivery of messenger RNA?

Staphylococcus aureus is a feared pathogen (MRSA, multi-resistant S. aureus) due to frequent resistances against many antibiotics, especially in hospital infections. Researchers at the Paul-Ehrlich-Institut have identified immunological processes that prevent a successful immune response directed against the pathogenic agent. The delivery of bacterial proteins with RNA adjuvant or messenger RNA (mRNA) into immune cells allows the re-direction of the immune response towards an active defense against S. aureus. This could be of significant importance for the development of an effective vaccine. PLOS Pathogens has published these research results online on 25 May 2017.

Staphylococcus aureus (S. aureus) is a bacterium that colonizes by far more than half of the skin and the mucosa of adults, usually without causing infections....

Im Focus: A quantum walk of photons

Physicists from the University of Würzburg are capable of generating identical looking single light particles at the push of a button. Two new studies now demonstrate the potential this method holds.

The quantum computer has fuelled the imagination of scientists for decades: It is based on fundamentally different phenomena than a conventional computer....

Im Focus: Turmoil in sluggish electrons’ existence

An international team of physicists has monitored the scattering behaviour of electrons in a non-conducting material in real-time. Their insights could be beneficial for radiotherapy.

We can refer to electrons in non-conducting materials as ‘sluggish’. Typically, they remain fixed in a location, deep inside an atomic composite. It is hence...

Im Focus: Wafer-thin Magnetic Materials Developed for Future Quantum Technologies

Two-dimensional magnetic structures are regarded as a promising material for new types of data storage, since the magnetic properties of individual molecular building blocks can be investigated and modified. For the first time, researchers have now produced a wafer-thin ferrimagnet, in which molecules with different magnetic centers arrange themselves on a gold surface to form a checkerboard pattern. Scientists at the Swiss Nanoscience Institute at the University of Basel and the Paul Scherrer Institute published their findings in the journal Nature Communications.

Ferrimagnets are composed of two centers which are magnetized at different strengths and point in opposing directions. Two-dimensional, quasi-flat ferrimagnets...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Marine Conservation: IASS Contributes to UN Ocean Conference in New York on 5-9 June

24.05.2017 | Event News

AWK Aachen Machine Tool Colloquium 2017: Internet of Production for Agile Enterprises

23.05.2017 | Event News

Dortmund MST Conference presents Individualized Healthcare Solutions with micro and nanotechnology

22.05.2017 | Event News

 
Latest News

New insights into the ancestors of all complex life

29.05.2017 | Earth Sciences

New photocatalyst speeds up the conversion of carbon dioxide into chemical resources

29.05.2017 | Life Sciences

NASA's SDO sees partial eclipse in space

29.05.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>