06.01.2005 – 10:32
KfW Bankengruppe to donate EUR 1 Million for Southeast Asia
Support for Emergency Social Measures
Reconstruction Aid of the German Federal Government hailed
Frankfurt, Germany (ots)
KfW Bankengruppe is donating EUR 1 million for emergency social measures following the disastrous underwater earthquake in Southeast Asia. KfW experts are currently visiting Sri Lanka, India and Indonesia to choose suitable projects, such as hospitals or orphanages.
"Beyond that, once the KfW experts have completed their initial survey of the situation KfW Entwicklungsbank will support Sri Lanka and Indonesia, two of the countries that have been hit the hardest, with funds from German Financial Cooperation (FC) with developing countries. This support will be closely tied to the international activities," said Ingrid Matthäus-Maier, member of the Board of Managing Directors of KfW Bankengruppe. "We hail the reconstruction aid of EUR 500 million that is planned by the German federal government. Combining emergency measures and middle- and long-term infrastructure projects holds promise and makes sense," emphasized Matthäus-Maier.
KfW Entwicklungsbank currently sees tremendous need for financing in the fields of public water supply, housing construction, health care, education, promotion of small entrepreneurs, and reconstruction of the economic infrastructure.
Countries that have also been impacted by the catastrophe but that are less dependent on development aid for reconstruction such as Malaysia and Thailand will be incorporated more in the other international financing activities of KfW Bankengruppe, especially the promotion of small and medium-sized enterprises.
The FC instruments are especially suited for reconstruction measures. The bank has long working relationships with both the implementing agencies for the public infrastructure institutions and also the banking system; these can be used to create promotional programmes for the reconstruction of infrastructure, homes and businesses. "KfW has internationally experienced staff and is prepared to assign additional staff members to ensure that the projects are implemented quickly," added Matthäus-Maier.
For further information: Dr. Charis Pöthig, Tel: 069 7431-4683, E-Mail: firstname.lastname@example.org
Original content of: KfW, transmitted by news aktuell