German development bank Kreditanstalt Fur Wiederaufbau (KFW) has agreed to provide DM 120 million (about $216 million) credit to India for financing renewable energy projects. While KFW will provide funds to Ireda at an average interest rate of only 1.5 per cent, with a repayment period of 40 years, Ireda will charge an interest rate close to market conditions from the ultimate beneficiaries.