KfW IPEX-Bank is providing € 30 million to finance two new feeder container vessels for Greenland’s Royal Arctic Line.
The financing is backed by cover from the Spanish export credit insurer CESCE and includes funds from the Spanish Commercial Interest Reference Rate (CIRR).
The newbuild container vessels, which replace older ships, are scheduled for delivery in 2020, when they will be used to transport cargo to remote towns and settlements along the Greenlandic coast that are not connected by land.
The vessels will help ensure supplies to the island’s population in the far north during most of the year.
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