Germany’s KfW IPEX-Bank said its volume of financing “normalised” in 2016 after an exceptional figure in 2015.

New specialist export and project financing totalled EUR 16.1bn ($17.36bn) last year, down from EUR 20.2bn in the previous 12 months.

“This means that the volume of commitments stabilised again at the normal level for past years after spiking in the previous year due to exceptional effects,” it said.

The