KfW: Sovcomflot loan benefits European industry

German shipping bank KfW, which along with Nordea and ING is part of a new syndicated loan to Russian Sovcomflot, explains that the bank is participating in the loan due to considerations concerning European industry and European subcontractors.

German KfW IPEX-Bank, a 100 percent fully-owned subsidiary of shipping bank KfW, believes that the German and European maritime industries can benefit significantly from the two LNG vessels set to be built for state-owned Sovcomflot.

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