Brussels, 09/03/2010 (Agence Europe) - On Tuesday 9 March, the European Commission authorised the extension until 31 December 2010 of a German scheme to limit the adverse impact of the current and economic crisis on the supply of export credit (see EUROPE 9977). Under the scheme, the German public credit institution Kreditanstalt für Wiederaufbau (KfW) will be allowed to purchase existing loans from banks. These banks will have to use the cash received to grant new export loans to purchasers outside the EU. Existing export loans bought by KfW are covered by a 100% export credit insurance from the Federal Government. As the situation of the export credit market is still negatively affected by the financial and economic crisis, the Commission concluded that an extension of the scheme is justified under Article 107(3)(b) of the Treaty on the functioning of the European Union. (O.L./transl.rt)