German Ambulance Vehicles for Ghana

Frankfurt am Main (ots) -

- KfW IPEX-Bank arranges export financing of Volkswagen vehicles
converted into ambulances by WAS
- Contribution to a change for the better in ambulatory care for
the rural population in Ghana

KfW IPEX-Bank finances the conversion of more than 150 Volkswagen
vans into ambulance vehicles and mobile clinics and their delivery to
the Republic of Ghana. The loan agreement was signed in December and
has been exchanged on Monday in Accra, Republic of Ghana, in the
attendance of high ranking members of the Ghanaian Government and
representatives of the involved companies.

The Volkswagen vans (base models T5 and Crafter) will be converted
by WAS (Wietmarscher Ambulanz- und Sonderfahrzeug GmbH). The
medium-sized company is the European market leader for specialized
vehicle conversions and has successfully delivered ambulance cars and
mobile clinics worldwide in cooperation with several leading
automobile manufacturers.

Christian K. Murach, member of KfW IPEX-Bank's Management Board
comments: "This transaction is an outstanding example for the
additional value of a financing structured and arranged by KfW
IPEX-Bank: the application for a loan cover granted by the German
Export Credit Agency, EulerHermes, built the foundation that made
this important German export possible which will contribute to
improved living conditions to many people in Ghana."

The vehicles will be delivered to the Ghanaian Ministry of Health
in three batches starting in March 2011. They will be used by the
Ghanaian National Ambulance Service (NAS). The NAS urgently needs
ambulance vehicles and mobile clinics to ameliorate the ambulatory
care especially for the rural population in Ghana. Large parts of the
people who live in remote areas hardly have access to medical care
and services which can soon be brought to them.

Universal Motors Ltd., the local Volkswagen partner in Ghana, has
initiated the business and plays a significant role in the
transaction. Universal Motors will supervise the correct delivery of
the vehicles in Accra and will provide service, maintenance and
technical surveillance of the ambulance cars according to Volkswagen
standards in the coming years. During the transaction, Universal
Motors was advised by TL African Business Development, a consulting
company specialized in financing projects in western Africa.

The financing of EUR 10m with a tenor of six years obtained cover
from the German Export Credit Agency, EulerHermes, and benefits from
the fixed interest rate CIRR (Commercial Interest Reference Rate).

Press photographs, the photomontage of an ambulance vehicle and a
photograph of the exchange ceremony are available in the press
section on the hompage of KfW IPEX-Bank under "Material for the
press/Photographs"

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank is in charge of
international project and export finance. It is responsible for
providing financing to support the German and European economy, a
task derived from the legal mandate assigned to KfW Bankengruppe. Its
prime focus is on medium- and long-term lending to boost the export
economy, develop economic and social infrastructure and support
environmental and climate protection projects. KfW IPEX-Bank operates
as a legally independent group subsidiary and plays a major role in
fulfilling the promotional mission of KfW Bankengruppe. It has
approx. 490 employees (as of July 2010) and is represented in the key
economic and financial centres throughout the globe.

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: presse.ipex@kfw.de
Tel. 069 7431-3300, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de