Strategic Banking Corporation of Ireland is ready to launch

Frankfurt am Main (ots) -

- KfW advised its Irish partners on setting up the SBCI
- KfW and the SBCI are signing a global loan for EUR 150 million
to finance SMEs

The Strategic Banking Corporation of Ireland (SBCI) is being
officially launched in Dublin today by Michael Noonan (Ireland's
Minister for Finance) and Brendan Howlin (Ireland's Minister for
Public Expenditure and Reform). The Irish Government also invited Dr
Wolfgang Schäuble (Federal Minister of Finance), Dr Ulrich Schröder
(Chief Executive Officer of the KfW Group) and Dr Werner Hoyer
(President of the EIB) to this ceremonial event.

KfW has been supporting the Irish Government in its measures to
set up an institution to promote the SME sector since November 2013.
Indeed, in numerous workshops, it has shared its expertise on all
aspects of SME financing with its Irish partners, thereby
contributing to an efficient set-up process for the new institution.
Moreover, the German Federal Government had assigned KfW the task of
negotiating a global loan with the SBCI. These negotiations were also
completed this week, with the result that KfW is now also providing
the SBCI with financial support in the form of a global loan
guaranteed by the German Federal Government. The loan is for EUR 150
million and is earmarked for the financing of investment loans
granted to small and medium-sized enterprises in Ireland.

"Ireland has made considerable efforts in recent years and
demonstrated impressive willingness for reform on the day. The
foundation of the SBCI couldn't come at a better time, as demand for
entrepreneur loans is rising sharply in Ireland. We are delighted to
make yet another active contribution to economic growth in Ireland
through our global loan," said Dr Ulrich Schröder, Chief Executive
Officer of the KfW Group.

The task of the SBCI, which is owned by the Irish state, is to
provide liquidity and thereby finance investments made by Irish SMEs.
In line with the method employed by many European promotional banks,
the SBCI's funds are being handed out to SME customers as loans
through regular banks.

See the newest Research document "Ireland: Successful Return" from
KfW's Economic Research team, from October 31, 2014 under:
http://ots.de/U0ocC /

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