ANNOUNCEMENT 29 Jul 2019
In July 2019, the KfW IPEX-Bank announced providing an innovation export financing loan to JSW Steel to support German exports to India.
NUMBER OF INTERVENTIONS
KfW IPEX-Bank, KfW IPEX-Bank finances growth and modernisation at JSW Steel, issued on 29 July 2019: https://www.kfw-ipex-bank.de/Presse/News/News-Details_533312-2.html
On 29 July 2019, the KfW IPEX-Bank announced providing an innovation export financing loan to Indian JSW Steel having a total value of EUR 48.5 million (approx. USD 54 million). The loan funds the purchase of various goods and services from German companies for the Indian steel company's modernisation and expansion programmes.
In this context, KfW stated in a press release: "In accordance with its statutory mandate, KfW IPEX-Bank supports the German export industry with this financing and contributes to safeguarding domestic jobs. The implementation of the projects at the Dolvi in the western Indian state of Maharashtra and in Toranagallu in the southern Indian state of Karnataka, includes supplies and services from German manufacturers."
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.