State to guarantee German lender KfW’s Irish loans
German bank KfW has secured a €150 million state banking guarantee to protect it against loan losses here.
It has also got an official commitment that its money will not be used for property speculation, in a sign of German determination to avoid financing another property bubble.
KfW is supplying funding to the newly created Strategic Banking Corporation of Ireland (SBCI), which is designed to provide more credit for small and medium sized businesses here.
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