CDB, KfW to Promote Loans for Micro & Small Enterprises
September 22, 2006
CDB, KfW to Promote Loans for Micro & Small Enterprises. Check it out:(SinoCast China Business Daily News Via Thomson Dialog NewsEdge) BEIJING, September 22, SinoCast -- Kreditanstalt fur Wiederaufbau (KfW), a leading policy bank of Germany, will provide USD 50 million loans to China Development Bank to help the development of the micro and small enterprises in China.
At the same time, backed by the Federal Ministry for Economic Cooperation and Development (BMZ) of Germany, KfW will donate EUR 3 million to China to hire the world??s best experts to set up organizations for the micro and small enterprise loan business.
The loan for micro and small enterprises is oriented to the private industrial and commercial operators, small enterprises and rural households to help their production and business operation. A single deal of loan will be no more than CNY 1 million and the average amount of every deal will be between CNY 40,000 and CNY 50,000.
According to the previous plan, China Development Bank will join forces with the World Bank and KfW to provide technology and capital to 12 partner banks to provide loans to the micro and small enterprises at the end of 2007.
Copyright 2006 SinoCast LLC Source: Financial Times Information Limited -
Related Tags: micro enterprises, loans micro, enterprises, micro, China, china
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