Low Interest Rates: Spanish Counterpart

Spanish counterpart: Germany's state-owned KfW bank will provide about 1 billion euros $1.3 billion at low interest rates to its Spanish counterpart, the ICO, which can then use it to provide several times that amount in cheap loans to smaller companies, according to CTV. Top ECB officials and several EU leaders have described the lack of access to credit in heavily indebted countries as one of the most pressing issues to deal with as the continent tries to emerge from recession and BERLIN -- Germany is setting up a loan program for struggling small and medium-sized firms in Spain to boost growth and jobs in the crisis-hit southern European economy, according to a document obtained Monday. The move is aimed at easing a credit crunch that is afflicting much of southern Europe, where small and medium-sized firms are struggling to access affordable loans that would allow them to expand their business. (www.immigrantscanada.com). As reported in the news.