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KfW looks east
01 November 2002
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Kreditanstalt fur Wiederaufbau has seen lower volumes of export and
project finance business this year, with new commitments in the
first half amounting to only Eu2.7 billion. For 2001 the volume of
loans made by the state owned development bank had been Eu8.4
billion, most of this recorded prior to September 11, which caused
delays in the implementation of many large scale projects.
?New commitments in 2002 will in total be lower than in previous
years,? says a KfW spokesman. ?On top are sectors like industry,
power and energy, telecoms and aircraft. The global economy still
has to regain momentum in growth. As the political scene remains
uncertain too, business confidence will probably not be fully
restored. Our outlook therefore is for a rather moderate
development in international business.?
Nonetheless, as the global economy hopefully picks up during the
course of 2003 the trend towards larger projects is...
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