Law On The Adoption Of The Business Plan Of The Erp Fund For The Year 2015

Original Language Title: Gesetz über die Feststellung des Wirtschaftsplans des ERP-Sondervermögens für das Jahr 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.

The Law on the Determination of the Economic Plan of the ERP Special Assets for 2015 (ERP Economic Planning Act 2015)

Non-official table of contents

ERPWiPlanG 2015

Date of departure: 29.11.2014

Full quote:

" ERP Economic Planning Act 2015 of 29. November 2014 (BGBl. I p. 1805) "

The § § 2 to 5 act according to the law. § 6 on the day of delivery of the ERP Business Plan Act 2016 except

For details, see the Notes


(+ + + + + + + + + + + + + + + + + + + + + + + + + + +). Text evidence from: 1.1.2015 + + +)

unofficial table of contents

§ 1 Determination of the economic plan of the ERP special assets

The Economic plan of the ERP special assets for the year 2015, which is annexed to this law and in accordance with § 8 paragraph 1 sentence 1 of the ERP-Administrative Law of 26. June 2007 (BGBl. I p. 1160), it is noted in revenue and expenditure
807 900 000
Non-official table of contents

§ 2 Authorisation for borrowing

The Federal Ministry of Economic Affairs and Energy is authorized to borrow at the Credit institution for reconstruction up to the amount of 30% of the amount determined in § 1. Non-official table of contents

§ 3 Permitted additional expenditure without a supplement plan

Is used as a result of an ERP economic plan unforeseen and unforeseeable needs (Article 112 of the Basic Law), there is no need for any supplementary economic plan if the additional issue does not exceed EUR 5 000 000 in individual cases or if the additional expenditure does not exceed EUR 5 000 000; if legal obligations are to be fulfilled. Non-official table of contents

§ 4 Assumption of warranties

(1) The Federal Ministry for Economic Affairs and Energy is authorized, with consent of the Federal Ministry of Finance guarantees, guarantees or other warranties for the promotion of the commercial economy including the liberal professions up to the total amount of EUR 2 600 million to the detriment of the ERP special assets to taking over.(2) The maximum amount referred to in paragraph 1 shall be calculated on the basis of guarantees, guarantees and other warranties taken on the basis of the appropriations entered in the previous economic plan laws, in so far as the special ERP assets are still in force. may have been or has been taken into account and has not obtained any replacement for the services provided.(3) A guarantee, guarantee or other guarantee shall be set to the maximum amount in the amount in which the ERP special fund can be used from this. Interest and costs shall only be charged to the empowerment framework to the extent that a joint liability amount for the principal obligation, interest and costs shall be determined at the time of the acquisition.(4) Insofar as the ERP special assets are released without recourse to their liability or have acquired compensation for services rendered, an assumed guarantee shall no longer be expected to be applied to the maximum amount. Unofficial Table Of Contents

§ 5 Amounts Excluded From The Intended Use

The amounts shown in Chapter 1, titles 681 02 and 681 03, and Commitment appropriations are excluded from the limitation of the purpose defined in § 2 of the ERP Administration Act. Non-official table of contents

§ 6 Freezing order

§ § 2 to 5 will be out of force on the day of the announcement of the ERP Economic Planning Act 2016. Non-official table of contents

§ 7 Entry into force

This law occurs on the 1. January 2015 will be in force. Non-official table of contents

Asset (to § 1)
Economic plan according to § 8 of the ERP Administration Act of 26. June 2007

(Fundstelle: BGBl. I 2014, 1807-1820)
1 (outputs):Investment financing
Chapter 2 (Other Outputs):Other Outputs
Chapter 3 (Revenue): Revenue
Appendix 1:Overview of commitment appropriations
Asset 2:Rejection of the ERP special assets according to the status of the 31. December 2013
Appendix 3:KfW report pursuant to § 8 of the ERP-Verwaltungsgesetz (ERP-Verwaltungsgesetz) on the use of the added equity and the granted Subordinated

Chapter 1Title
Functional Purpose Amount
1 000 €amount
1 000 €actual result < br />
1 000 €12345
892 01-691Financial support to support Business start-ups and overtaking, to increase the performance of medium-sized private companies as well as for exports of the commercial economy ...........

37 700

32 200

24 017
The estimated Funds will be used to approve KfW refinanced loans.
Commitment Authorisation ..........315 600 T€
this is due: 
Year 2016 up to ..........49 600 T€ 
Year 2017 up to ..........48 000 T€
Year 2018 up to .......... 43 300 T€
in future financial years ..........174 700 T€
Budget Note:
1. Savings are used to cover overspending on titles 683 01 and 870 01.
2. Additional expenses may be made up to € 10 000 of the savings of Title 683 01. 
683 01-691Support costs from commitments up to 31.12.2014, as well as other obligations arising from the reorganization of the ERP business promotion ..........
261 100

252 000

227 983
Payment Commitment ..........1 020 900 T€
this is due: 
Year 2016 up to ..........224 400 T€ 
Year 2017 up to ..........184 700 T€
Year 2018 up to .......... 148 900 T€
in future financial years ..........462 900 T€
Budget Note:
1. Multiple editions may be made up to the amount of savings of Title 892 01.
2. Savings of up to 10 000 T€ are used to cover additional expenses under Title 892 01. 
682 02-330Financing of projects with German and European partners for the provision of risk capital for small and medium-sized businesses. medium-sized enterprises in Germany as well as projects related to the energy transition.
Expenditure on energy projects can be increased by up to the amount of the revenue from Chapter 3 of the Tit. 129 01. In this context, with the approval of the BMF, commitments may be made for future financial years....

500 000

500 000

89 072
Commitment Authorisation ..........1 733 100 T€
thereof due:
in future financial years .......... 1 733 100 T€
Budget Note: 
Multi-editions may be made up to the height of the multi-take in Title 129 01.
681 02-029Granting scholarships to students and young scientists as well as long-term promotion of information trips from German/Jewish-American youths and from multipliers to Germany ..........

2 700

2 700

2 600
Commitment Authorisation ..........4 460 T€
thereof due:
Year 2016 up to .......... 1 140 T€
Year 2017 up to ..........1 660 T€
Year 2018 up to ..........1 660 T€
Household Note:
1. Outputs are mutually eligible with the following title: 681 03.
2. The outputs are transferable.

Investment financing


To Tit. 892 01
ERP financial support is intended to support business start-ups and companies, to increase the performance of medium-sized private enterprises and to promote exports of the commercial economy. In addition, funding contributions for the promotion of energy efficiency measures can be made. Accordingly, the funds will be used to finance the following financing purposes with a volume of approx. 6 320.0 million Euro interest rates are
a)Projects in regional assisted areas .......... 350 million Euro
b)Business start-ups and growth-
financings ..........

3 € 680 million Euro
c)Refinancing private equity investment companies ..........
90 million Euro
d)Innovations ..........1 200 million Euro
e)Export finance ..........1 000 million Euro.
Ifrequires demand, interest rate reductions can be adjusted In the planning of the new business, it was ensured that the ERP special assets permanently bear the resulting loads. can. The funding volume planned for 2015 has also been used for the coming years. According to the above division and with the objective that this will contribute to sustainable development in the sense of Agenda 21 , financial support can be granted with interest subsidies for the following purposes:
Investments of medium-sized enterprises in the areas of the joint task "Improvement of regional economic structure".
Business start-ups, corporate revenue and growth financing of small and medium-sized enterprises in the commercial and liberal professions.
Refinancing for private equity investment companies that facilitate the procurement of risk capital for medium-sized enterprises.
Long-term promotion of market-oriented research and development of new products, processes or services as well as their market launch.
Financing of supplies and services related to the export of capital goods to developing countries.
Within the scope of the budgeted funds, it is possible to 10 million Euro is granted for new funding approaches. The approach can also be used to cover expenditure on mandating/project/administration costs.

To Tit. 683 01
The title approach contains the payment obligations arising from the credit claims (old business) not transferred to the Federal Government in the course of the reorganisation and from other obligations in the wake of the reorganisation of the ERP business promotion and the Costs from commitments following the reorganisation of ERP economic development up to and including 31. December 2014.The payment commitments in future financial years amount to € 1 020.9 million. Euro, due:
2016 to .......... 224.4 million Euro
Year 2017 up to .......... 184.7 million Euro
Year 2018 up to .......... 148.9 million Euro
in future financial years .......... 462.9 million Euro.

To Tit. 682 02
The approach includes, in particular:
the doping of the ERP/EIF funds with the aim of: Medium-sized enterprises to facilitate the procurement of risk capital both in the early and growth phases (venture capital) and in the expansion phase (private equity, mezzanine capital);
Burdens arising from the acquisition of participation in High-Tech Gründerfonds GmbH & Co. KG (High-Tech Gründerfonds I) and at High-Tech Gründerfonds II GmbH & Co. KG (High-Tech Gründerfonds II).
In addition, provision was made for changes in equity financing envisaged in conjunction with KfW (in particular the reorientation and the outsourcing of the successor programme ERP-Startfonds; Further measures are the Microcredit Fund and the Micromezzanine Fund together with the European Social Fund (ESF), participations in medium-sized investment companies as well as projects in the Framework of the energy transition in the scope of approx. 650 million Euro.In the title are double estimates as an approach in the financial year 2015 or as commitment authorisation with disbursement in the years 2016 ff. , since it is the freedom of decision of the managers of the refinanced funds, whether they make commitments with disbursements in the financial year 2015 or in subsequent years. The identified funds are part of the special assets (redeployment) and go not to the detriment of the earned income. The approach may also provide for expenditure on mandating/project management costs. The commitment appropriations at the expense of future financial years amount to 1 733.1 million. Euro.

To Tit. 681 02
Scholarship programs, and
$1,040 million, are not included in the estimated cash. Euro on the MOE/GUS scholarship program, which allows students of economics from central, eastern and southeastern European countries to study in Germany.
0.830 million Euro on the ERP scholarship program USA, with which young German postgraduate scientists are given the opportunity to develop their training at a leading university to continue in the United States of America,
0.210 million Euro to co-finance the McCloy Academic Scholarship Program.
In addition, in Expenditure on the provision of teaching and learning material for universities in Central, Eastern and South Eastern Europe, the temporary stay of German university teachers at universities in these countries as well as expenditure on evaluation and fellowship selection of the scholarship programmes mentioned. Up to € 0.580 million Euro of the Baran Approach is based on a German/Jewish-American meeting project, with the young American Jews and multipliers the It is possible to take a picture of the situation in today's Germany and about the relationship with the Jewish fellow citizens in the place and place. This project is long term. Basically, travel to the USA is not to be promoted. In addition to the cash approach, this title is subject to a commitment appropriation of € 4.460 million. Euro estimated, due in the years 2016 to 2018, in order to can also support multi-annual projects. The approach can also include mandating/project management and administration costs.

Chapter 1Title
Functional purpose determining amount
1 000 €amount
1 000 €Is-result

1 000 €12345
681 03-029 Promotion of measures within the framework of the German Programme for Transatlantic Encounters ..........
3 600

3 600

1 037
Commitment Authorisation .......... 5 100 T€
of which are due: 
Year 2016 up to ..........1 500 T€
Year 2017 up to .......... 1 300 T€
Year 2018 up to ..........1 300 T€
Year 2019 up to ..........1 000 T€
Household Note:
1. Outputs are mutually eligible with the following title: 681 02.
2. The outputs are transferable.
870 01-680 Use from warranties ..........1 0001 000 0
Budget Note: 
Multi-editions may be made up to the amount of savings under Title 892 01 .
Total investment financing806 100 791 500
Assignments and grants ..........6 3006 300
Outputs for Investments .......... 799 800 785 200
Total investment financing806 100791 500

Investment Financing

to Tit. 681 03
The funds are used for the implementation of the German Programme for Transatlantic Encounters (Transatlantic Programme). Under this programme, international, in particular transatlantic, projects will be funded in the spirit of George C. Marshall. In principle, the Federal Ministry for Economic Affairs and Energy (BMWi) decides on the funding in agreement with the Interministerial Committee (IMA). In addition to the cash approach, this title is subject to a total commitment appropriation of 5.1 million Euro estimated, due in the years 2016 to 2019, in order to also promote multi-annual projects. From the approach can also be done mandata/project management/administration costs.

To Tit. 870 01
The amount is provided for the use of warranties, guarantees, liability exemptions and liability commitments. The authorization to take over the warranties is given in § 4 of the respective ERP economic plan law. Obligations arising out of warranties amounted to 31. A total of approximately 1 300 million in December 2013 Euro.

Chapter 2Title
Functional Purpose Amount
1 000 €amount
1 000 €Ist-Result

1 000 €12345
Other Outputs
531 01-013Cost of Publications and investigations as well as other costs of the ERP special assets ..........


575 01-680Interest payable ..........1 000 1 0000
671 01-680Machining fees .......... 50501
595 01-062 Tilting credit in accordance with § 2 ERP-Economic Planning Act 2015 ..........-- 0
697 01-389Compensation for cash inflows ..........-- 0
Sum Other Outputs1 8001 800 60
Other Outputs ..........1 800 1 800
Interest cost ..........-- 
Total Other Outputs1 8001 80060

Other outputs


To Tit. 531 01
This appropriation is intended to finance public relations activities and the development of the ERP programmes. This includes publications in which information on the activities and programmes of the ERP special assets is also provided on the Internet. Furthermore, other expenses of the ERP special assets can be made from the approach, insofar as they are not taken over by the Federal Government. Evaluation of ERP programs as well as practice-oriented forms of examination (e.g. Seminars, workshops, conferences, etc. ), which can contribute to the development of ERP support.

To Tit. 575 01
The amount is for the interest in the funds raised by the Kreditanstalt für Wiederaufbau in accordance with the ERP economic plan 2014.

To Tit. 671 01
Estimated processing fees are to be reimbursed, which are not to be covered by the interest margin. This includes, in particular, the fees for the fiduciary management of ERP loans and other claims (e.g. B. if the special ERP assets are made up of guarantees and the funding institutions have been transferred to the resale of the claims transferred to the ERP special fund). You can also pay court, audit, and similar costs from the approach.

To Tit. 595 01
The title is intended for repayment of funds received by the Kreditanstalt für Wiederaufbau.

To Tit. 697 01
In connection with the audit of the 2008 annual accounts, the Federal Court of Auditors has agreed that all cash flows will be collected within the framework of the ERP economic plan, that is to say, those which are not in the area of economic promotion, but in the asset segment of the ERP special assets (e.g. B. Repayments of depleted loans or receipts serving the maintenance of the asset). The compensation title compensates for revenue and expenditure by means of a correction item and thus contributes to the principle of budgetary compensation in the ERP administrative law. The title also allows payments to be made in the context of the financial statements of the ERP economic promotion of the previous year.

Chapter 3Title
Functional Purpose Amount
1 000 €amount
1 000 €Is-result

1 000 €12345
119 99-680 Vermischte Revenue ..........00354
141 02-680Return flows from warranty claim ..........0 00
162 01-691Income from assets .......... 261 084332 541367 153
182 01-691 Tilgung of Loans ..........33 67242 42733 615
129 01-873Revenue from assets ..........445 544350 232 21 000
Budget note:
Revenue may be used for spending in Chapter 1. Multi-takes are used to perform multiple-output performance on Title 682 02.
231 01-699Interest subsidies and reimbursements from the federal budget to increase the performance of medium-sized private companies in the commercial sector Economy ..........

67 600

68 100

84 100
a) ERP-Innovation Program:45 280 T€
b) Special funds Energy efficiency: 8 320 T€
c) ERP Start Fund:9 000 T€ 
d) High-Tech Gründerfonds I and II:5 000 T€ 
Budget Note:
Is-revenue is earmarked. They are used for the performance of the expenditures for the federal share of the ERP Innovation Programme, for the ERP environment and energy efficiency programme (special funds energy efficiency/investment loans), the ERP start-up fund as well as the High-Tech Gründerfonds I and II at Following titles: 892 01, 683 01, and 682 02.
325 02-928Revenue from borrowing by KfW .......... 0 0 0
Total Revenue807 900793 300
Administrative revenue ..........00
Other Revenue .......... 807 900 793 300
Total Revenue807 900793 300 



To Tit. 119 99
The title is for arrivals from already booked requests.

To Tit. 162 01
The following liquid proceeds of ERP assets are expected:
a)Remuneration ERP-Subsidy Reserve I... 166 325 T€
b)Discount on subordinated loans ..........54 148 T€
c)Income from loans to enterprises .......... 40 611 T€
Sum ..........261 084 T€
revenues are used for support measures within the ERP business plan. The excess yields, together with the expected increase in non-liquid assets of the ERP special assets in the KfW, serve the substance of the subsistent. Non-cash income of the ERP special assets is the profit on the shares of the ERP special assets at the liable capital of the KfW. For income from the ERP support reserves II and III, which only in the KfW liquide and there exclusively for promotion can be used, no approach is put out, as the yield depends on the KfW profit, whose creation and altitude is uncertain. In order to ensure a lasting substance content of the ERP special assets, BMWi and BMF have a Compensation agreement concluded according to which annual errors are compensated annually for the continued equivalent income of the ERP special assets annually. The amounts required for compensation are determined in each case in connection with the preparation of the annual balance sheet of the ERP special assets and are booked with effect for this balance sheet.
To Tit. 182 01
Estimates are tilts of ERP loans:
Senator of Finance Berlin ..........1 076 T€
Company .......... 32 596 T€
Sum .......... 33 672 T€

To Tit. 129 01
u. a. Receipts from the repayment of the repaid loan expected. Revenue is used to cover the expenses of title 682 02.

To Tit. 231 01
The Federal budget participates in the titles 892 01 (Financing aids to support start-ups and mergers, to increase the performance of small and medium-sized private enterprises as well as for exports of commercial enterprises). 683 01 (promotional costs arising from commitments up to 31.12.2013 and other obligations arising from the reorganisation of ERP economic development) of the ERP economic plan under the Innovation Programme, and the interest subsidies granted under the Energy efficiency programme and interest rate reductions granted to the ERP launch fund. The amounts to be reimbursed by the Federal budget of the ERP special fund shall be collected under this Title. New commitments from 2012 will only be subsidised from the Federal budget in the ERP Innovation Programme; moreover, it is the financing of Altzusagen.As compensation for those connected with the relocation of High-Tech Gründerfonds I and II. Additional costs of the ERP special assets are charged by the federal budget up to the year 2016 in the amount of 5 million. Euro annually, which serve the necessary substance content in the ERP special fund. There is no obligation to provide the Federal Government with an obligation to follow up on the appropriation. The assignments will be collected on this title.

To Tit. 325 02
According to § 2 ERP Economic Planning Act, funds can be procured by credit.



of which are omittedOther
Interest Cost

Grant Investment

1 000 € 1 000 € 1 000 € 1 000 € 1 000 € 1 000 €
Investment and
export financing

807 900

806 100

1 800

6 300

799 800
Other Output/

1 800
807 900 807 900 1 800 6 300 799 800

Appendix 1Overview of commitment appropriationsTitle and purpose specification
(keyword-like) output-
2015a) Until

b) VE 2014
c) VE 2015thereof due2016201720182019 million €1234567
892 01
Medium-sized enterprises,
export finance ..........
37,7 a)-----
c)315,60049,60048,00043,300 174, 700
683 01Support cost ..........261,1 a)-----
c)1 020,900224,400184,700 148, 900462,900
681 02
granting scholarships and
promotion of Information travels ..........
2,7a)0,520 0,520---
b)2,080 1, 0401,040--
c)4,460 1, 1401,6601,660-
681 03

Promotion of measures within the framework of the German program for
transatlantic encounter ..........
3.6 a)0,5000,4000,100--
c) 5, 100 1,500 1, 300 1, 300 1, 000
Sum305,1 a)1,0200,9200,100--
b)5,6802,3402,340 1, 000-
c) 1 346,060 276, 640 235, 660 195, 160 638, 600
682 02 Cooperation Projects ..........500,0a)-
c)1 733,100 2016 ff. :1 733,100

Appendix 2Restatement of the ERP assets
Asset and Commitments />
on 31.12.2013Stand
on 31.12.2012€€
A. Bank Credits ..........1 897 630 4041 749 015 018
KfW aftermarket loans ..........2 246 588 9903 246 588 990
B. Loan Requests ..........239 340 455189 462 272
C.Other requirements037 081 117
1.Zins and Provisional Requests ..........037 081 117
2.Tilting Requests ..........0 0
1.Kreditanstalt für Wiederaufbau .......... 1 082 876 3311 082 876 331
2. KfW reserve from funds of the ERP special assets ..........1 190 752 1061 113 261 654
 3.Capital reserve II ..........1 000 000 0001 000 000 000
4.Separate Capital Reserve ..........614 280 731614 280 731
5.Income from Capital backlog ..........1 567 857 5421 296 092 393
6.ERP promotional reserve I..........4 650 000 0004 650 000 000
7.The legal reserve of the KfW ..........615 270 643 615 270 643
8.Special Profit Backsheet .......... 00
9.ERP-Förderrücklage II ..........253 794 385250 000 000
10. ERP payback I..........92 370 64244 952 004
11.ERP Promotional Reserve III ..........1 000 000 000
12.High-Tech Gründerfonds I and II .......... 112 749 881
16 563 512 110 15 888 881 153
the Status of 31. December 2013Passiva:Stand
on 31.12.2013Stand
on 31.12.2012€€
A. Repositions
1. Asset Backup ..........0380 000 000
 2.Förderloads ..........911 534 623 
3.High-Tech Gründerfonds I and II .......... 105 250 000
1. ERP Support Load ..........922 002
2. from Mikromezzaninfonds ..........35 000 000
C.Assets 15 510 805 485 15 508 881 153
16 563 512 110 15 888 881 153
Warranties from Warranties ..........1 290 740 912764 452 677

Asset 3Report of the KfW
pursuant to § 8 of the ERP Administration Act on the use of
of the introduced equity and the granted post-rangout loan
In 2013, the financing of the medium-sized business was the ERP support programs a financing volume of approx. 4.5 billion EUR 267.1 million for the period referred to in the above-mentioned period. EUR.The income from the ERP support reserves I and II as well as from the subordinated loan will be used as part of this financing requirement, which serves equity capital In addition, the risk-side management of the ERP promotional loans. The capital invested in 2007 in the context of the reorganization of the ERP business promotion has the KfW for the period of 01.01. until 31 December 2013 as follows:
Remuneration of the ERP support reserve I in accordance with § 4 of the Implementing contract with a rate of 4.17%. The revenues of 193,9 million EUR were completely available to cover the funding costs for the year 2013.
Remuneration of the secondary loan in accordance with § 3 of the Implementation contract with an interest rate of 3.41%. This resulted in an interest-rate amount of 110.7 million in 2013. EUR.
In addition to the capital introduced in 2007, the ERP special assets at the end of 2012 had a further funding reserve of 250 million euros. EUR (ERP-Förderrücklage II) in the KfW . The remuneration is paid in accordance with § 2 of the ERP-Förderrücklage II (ERP-Förderrücklage II) by the annual participation of the reserve in the distribution of the remaining commercial legal results of the KfW according to the pre-doings in proportion to their amount. The amount of all equity components participating in the distribution. The corresponding share of the annual surplus of KfW to be distributed amounted to 13.8 million for the 2013 financial year. EUR.The total funds available to cover the 2013 ERP funding from the capital contributed to the KfW in 2013, this amounted to € 318.4 million. EUR. These were used as follows:
Pre-doping of the ERP Subsidy Reserve I: The ERP special fund from the remuneration of the ERP backsheet I (193,9 million) EUR) and the ERP support grant (108.1 million) EUR from the interest of the ERP-Nachrangdarlehens) in accordance with ERP-Economic Planning Act of 302.0 million. EUR 257,1 million EUR to cover the loads from the ERP business promotion of the year 2013 (without ERP-Startfonds 2011) used. The remaining resources of € 44.9 million In accordance with § 4 paragraph 6 in conjunction with Section 11 (5) of the Implementing Contract, EUR were assigned to the separate profit reserve I of the ERP special assets with the KfW. This profit reserve is available for the coverage of ERP delivery costs in the coming years.
Predoping of ERP-Support reserve II: The ERP-Special assets of EUR 13.8 million of the remuneration of the ERP support reserve II. EUR 10.0 million in EUR 10 million. EUR to cover the loads from the ERP business promotion of the year 2013 in the framework of the ERP-Startfonds 2011. The remaining funds of € 3.8 million In accordance with § 2 (5) of the introduction contract ERP-Förderrücklage II of the separate profit reserve II of the ERP-special assets with the KfW were allocated. This profit reserve is available in particular for the provision of venture capital by the KfW for the promotion of young technology companies in Germany.
The funds not used as part of the pre-doping to cover the funding amount of 2.6 million euros. EUR (remaining interest from the subordinated loan) has been partially Coverage of payments in the ERP grant programs in 2013. The difference to the total disbursements (€ 3.5 million) EUR) of EUR 0.9 million EUR was charged to the account of the ERP special assets.
Thus, the revenues generated from the contributed capital were used for the ERP promotion, respectively. the ERP special fund is supplied for promotional purposes. The regularity of the reporting as of December 31, 2013 will be examined and confirmed by an auditor in accordance with the contract.