Germany to help Spain with credit for growth, jobs
World BusinessJun 3, 2013
Germany is setting up a loan program for struggling small and medium-sized firms in Spain to boost growth and jobs in the crisis-hit southern European economy, according to a document obtained Monday.Germany's state-owned KfW bank will provide about 1 billion euros ($1.3 billion) at low interest rates to its Spanish counterpart, which will be probably able to lend out several times that amount in cheap loans to local firms.The move is aimed at easing a credit crunch that is afflicting much of so