Societe Generale Equipment Finance Brazil (SGEF) and German bank KfW IPEX-Bank have signed a 30m loan agreement to support German manufacturers in Brazil.
The four-year loan from KfW to SGEF Brazil is to help the French-owned leasing subsidiary to fund the acquisition and leasing of European, and in particular German, manufactured equipment by Brazilian firms.
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SGEF said the deal was part of its general strategy to develop diversified sources of funding.
KfW IPEX-Bank is a subsidiary of KfW, a German government-owned development bank with a legal mandate to provide finance to boost the German and European economies.
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