KfW Program: Refinancing of Federally Covered Export Credits

This program is exclusively aimed at credit institutions in Germany to enable the refinancing of federally covered export credits. It aims to ensure liquidity for export transactions of the German economy, especially for buyers outside the European Union.

The program exclusively refinances export credits granted by credit institutions to purchasers of German goods, which are already secured by federal financial credit coverages or Airbus guarantees. The refinancing fully covers the disbursed loan amount and supports projects in the export industry that meet the environmental and social legal standards in the investment country.

The funding is granted as a loan and covers 100% of the disbursed export credit amount. Conditions such as interest rate and repayment profile are determined individually, with the bank able to choose between variable and fixed interest rates. The remaining term of the loan to be refinanced must be at least two years.

Various conditions must be met for refinancing, including a concluded loan agreement, a federal financial credit coverage or Airbus guarantee, and compliance with environmental and social standards in the investment country. There are no specific consortium conditions, as individual credit institutions are eligible applicants.

The application process begins with a non-binding refinancing inquiry to the KfW Banking Group. Before concluding a refinancing agreement, specific documents such as the signed loan agreement and a commitment for Hermes coverage are required. The evaluation and determination of conditions are done individually.

The KfW Program for Refinancing Federally Covered Export Credits is based on a KfW leaflet. It is also subject to the minimum interest rate requirements of the EU Commission and the rules of the OECD Consensus. The federal government plays a central role through financial credit coverages, Airbus guarantees, and securitization guarantees.