German bank steps in, saves Norwegian mixed credit scheme

Business November 18, 2010

The board of the German development bank KfW has approved a credit frame of USD 95 million for loans to fund 12 projects in Vietnam, which are part of the Norwegian aid-funded mixed credit scheme. The German move represents a lifeline for the crippled Norwegian private sector scheme, which has been stalled for many years due to problems with raising loans for the projects.

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