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.
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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