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The FINANCIAL — KfW Bankengruppe and LfA, the
promotional bank of Bavaria for commercial enterprises and
infrastructure measures, have signed two agreements for global loans
amounting to a total of EUR 80 million.
Through the global loans LfA will provide credit with greatly reduced interest rates to municipal authorities, their legally dependent entities and Bavarian municipal special-purpose associations to finance the following investments: improvement of energy efficiency in street lighting, lighting of parking lots, multi-storey car parks or underground car parks, lighting for open spaces, traffic lights, construction of charging stations for electric vehicles combined with city lighting measures, neighbourhood heating supply, and energy efficient water supply and sanitation in neighbourhoods.
The global loans will be refinanced through the KfW Programmes “Urban energy efficiency rehabilitation – Energy-efficient supply for neighbourhoods (municipalities)” and “KfW Investment Loans for Municipalities – Premium – Energy-efficient Urban Lighting”. The programmes’ loan conditions are reduced through the German Federal Government’s special “Energy and Climate Fund” (EKF) and from KfW’s funds. The Free State of Bavaria and LfA use their own funds to reduce once again the interest paid by borrowers from Bavaria. As KfW reported, the Bavarian contribution is part of the Bavarian state government’s “Energie innovativ” concept; LfA will incorporate the new promotional offers in its loan programme “Infrakredit Energie”.
“The promotion of investments for improving energy efficiency in municipal infrastructure makes an important contribution to implementing the energy turnaround. Furthermore, pooling federal and state promotional support helps reduce the burden on municipal budgets through energy efficiency measures,” said Dr Axel Nawrath, member of the Executive Board of KfW Bankengruppe.
Dr Otto Beierl, Chairman of the Board of LfA, explained: “Bavarian municipalities can now access promotional loans with interest rates that are further reduced and can combine the advantages of federal and state support by applying to us directly. Those who wish to invest in energy efficiency should take advantage of this promotional added value!”
By signing these agreements KfW and LfA are continuing their many years of cooperation in funding state-specific promotional programmes. Since 1999 global loan agreements totalling about EUR 7 billion have been concluded for various priority sectors.
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