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.

BY KATRINE GRØNVALD RAUN

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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