KfW IPEX-Bank administers the ERP Export Financing Programme on behalf of the Federal Republic of Germany and KfW.
All banks eligible for buyer credit cover from the Federal Republic of Germany (so-called Hermes cover) may apply to the ERP Export Financing Programme.
The ERP Export Financing Programme supports lending for German exports to emerging and developing countries. Under this programme, eligible banks can offer loans to foreign buyers of German exports and to banks in the buyer's country at the minimum interest rate set by the OECD (CIRR - Commercial Interest Reference Rate). If the corresponding programme criteria are fulfilled, KfW provides refinancing to participating banks within the programme framework. In addition, KfW generally excludes certain projects from financing or specifies terms and conditions that must be met. For details see the exclusion list and the sectoral guidelines of KfW Group:
Exclusion list and sectoral guidelines of KfW Group
In addition to the refinancing available to all eligible banks, KfW provides AKA with a separate CIRR refinancing line for which export transactions with a financing volume of up to EUR 25 million are eligible.
The loans are supported through the ERP Special Fund. Officially known as the "European Recovery Program", the ERP Special Fund dates back to the Marshall Plan, which was established after the end of World War II. The Fund is administered by KfW on behalf of the Federal Republic and is still used today to stimulate the German economy.
In carrying out the ERP Export Financing Programme, KfW acts as mandatary of the Federal Republic and has assigned the actual programme implementation to KfW IPEX-Bank. For more information see the corresponding information sheet. Please also feel free to contact us by mail at: .
