New credit facility for Filipino projects

The Swedish Export Credit Corporation, SEK, has signed a USD 10 million framework agreement with the Development bank of the Philippines, DPP, aiming at financing small and medium sized projects in the Philippines. The buyer in the Philippines will have to apply for a credit at DBP. DBP and Sida, the Swedish Agency for International Development Cooperation, will then evaluate the application.

A maximum USD 4 million and no less than USD 500,000 may be borrowed. The new agreement allows loan payments up to 3 August 2008.

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