Kfw Loan Agreement

Wolfgang Grenke, Chairman of the Board of Management of GRENKE AG: „Collaboration with small and medium-sized enterprises lies in our DNA. Since 2010, we have been offering attractive financing with action bonds in this segment and have concluded around 21,000 leasing contracts. We are very pleased to offer this expertise to small and medium-sized enterprises throughout Germany. The facility was signed following a financial cooperation agreement between the two governments in October. The intermediation of the loan and grant facilities was facilitated by SBI`s investment banking subsidiary, SBI Capital Markets Limited. The State Bank of India (SBI) announced on Monday that it had signed a $277 million (about Rs 1.958 billion) credit agreement with KfW for the establishment of an energy-efficient housing programme in India. The process is simple. Entrepreneurs receive a „bon d`action“ directly from GRENKE. They fill it out and submit it with the rental request to GRENKE AG. The conclusion of the lease agreement terminates the action order and the amount of the individual share (depending on payments and maturities) is credited to the customer in advance and as a single lump sum. Companies and liberal professions established in Germany qualify for the aid with an annual turnover of up to €500 million. Acquisitions for private purposes do not qualify for aid. CGES will mortgage administrative buildings, substations and land as collateral for the loan.

Baden-Baden / Frankfurt am Main, 20 December 2016: KfW Bankengruppe and GRENKE AG today signed a €100 million global loan agreement at KfW`s headquarters in Frankfurt am Main. In this way, SMEs, freelancers and start-ups benefit throughout Germany from the attractive leasing conditions that GRENKE AG and KfW offer for new acquisitions. Dr. Ingrid Hengster, member of the KfW Board of Directors: „The global loan to GRENKE allows more than 10,000 SMEs throughout Germany to benefit from kfW funds for their commercial leasing financing. In addition to traditional bank loans, entrepreneurs can now choose between credit and leasing for smaller investments – and all this on advantageous terms from KfW.“ The interest rate is set at 1.1% and the commitment fee at 0.25%, while the credit processing fee is 1%, according to a document on credit and guarantee agreements between CGES, KfW and the Montenegrin Ministry of Finance, adopted by the Montenegrin government. The general meeting of shareholders of CGES mortgaged assets amounting to EUR 21 million. EUR as a guarantee granted to the Ministry of Finance for the credit of KfW. The value of the assets was assessed by the Economic Institute in Belgrade, Serbia. According to the Montenegrin government, the loan is granted with a 12-year repayment plan, with an additional period of up to 5 years. The credit agreement was signed by Dragan Kujović, Director General of CGES, and Jörg Meilicke, Director of KfW for the region and Montenegro. In addition to the $277 million credit facility, KfW SBI will also provide a €1.5 million grant as a technical assistance package. SBI or State Bank of India SBI has signed a $277 million (about $1.958 billion) credit agreement with KfW – the German development bank – for the establishment of an energy-efficient housing programme in India.

This facility was signed on the basis of a financial cooperation agreement between the Government of India and the Government of the Federal Republic of Germany, signed in October 2019. The programme is part of german-German development cooperation, under the leadership of the 2030 Agenda for Sustainable Development. In addition to the $277 million loan facility, KfW SBI will provide a €1.5 million grant for technical assistance. Technical assistance funds are used to assist the SBI in the preparation, implementation and monitoring of the programme. In addition, an investment grant of €10 million was awarded to encourage developers to develop housing construction projects that would achieve significantly greater energy savings than standard reference buildings (i.e. . . .