KfW IPEX-Bank administers the Africa CIRR export financing programme for KfW on behalf of the Federal Republic.

New markets for German exporters

All credit institutions eligible to apply for buyer credit cover from the Federal Republic of Germany (so-called Hermes cover) are eligible for the Africa CIRR.

Loans supported by the Africa CIRR export financing programme

The Africa CIRR supports loans to finance German exports to African buyer countries as well as to emerging and developing countries according to the current DAC-List. Under the programme, the eligible banking group can grant loans to buyers of German export goods or to banks in the buyer country at the minimum interest rate CIRR (Commercial Interest Reference Rate) set by the OECD. KfW provides refinancing under the programme for the eligible credit institutions if the relevant programme criteria are met. KfW can, however, exclude certain projects from financing or specify terms and conditions that must be met. For details, see the exclusion list and the sectoral guidelines of KfW Group:

Exclusion List and Supplementary Requirements of KfW Group

Sector Guidelines of KfW Group

The Africa CIRR is a fixed-interest programme for which the German Federal Government, on the basis of a resolution of the German Bundestag, provides budget funds to support financing for large-volume export transactions. The programme focuses on promoting projects in Africa and in emerging and developing countries.

Within the scope of the programme, KfW represents the Federal Republic of Germany as mandatary, on the one hand, and commissions KfW IPEX-Bank to administer the programme, on the other. We have provided additional information in the attached information sheet. Please also feel free to contact us by e-mail:

Further information

Information sheet Africa CIRR(PDF, 88 KB, non-accessible)