Shipping bank to lend out 1.5 billion Euros in 2012

German KfW Group is prepared to lend the shipping industry 1.5 billion Euros in 2012. This money will go primarily to investments in the offshore shipping industry, says the KfW lending board.

KfW Group does not expect the shipping industry to improve in 2012, but the bank is still willing to provide 1.5 billion Euros in loans. That is 0.5 billion Euros less than in 2011, but the German lender is not afraid to maintain a high lending rate.

“There is plenty of room for new business, since we have not expanded as aggressively as many others over these past years,” says Head of Transport Finance and board member of KfW Christian K. Murach to Bloomberg.

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