Kenny promises half-price loans

Representatives from the German development bank KFW have met with Department of Finance officials to explore ways of how it will provide half-price loans to Irish SMEs, Taoiseach Enda Kenny has revealed.

Mr Kenny said he expects the German bank to offer Irish businesses much cheaper credit than what’s on offer from the banks here.

“So, for instance, you know, a small and medium enterprise that would look for a loan of €500,000 at Irish rates would be about 4.25%, at German rates that would be 2%,” said Mr Kenny.