BANKING AFFAIRS

Detailed explanation-1: -KfW is one of the world’s leading promotional banks. KfW has been committed to improving economic, social and environmental living conditions across the globe on behalf of the Federal Republic of Germany and the federal states since 1948. To do this, it provided funds totalling EUR 107 billion in 2021 alone.

Detailed explanation-2: -As an institution under public law, 80% of which is owned by the German Federal Government, with the remaining 20% owned by the German federal states, KfW fulfils a steering role at state level.

Detailed explanation-3: -KfW’s head office is in Frankfurt am Main. It has branches in Berlin and Bonn.

Detailed explanation-4: -Shareholders. The Federal Government owns 80% of KfW’s share capital, the German federal states 20%. In accordance with Article 1a of the KfW Law, the Federal Republic of Germany is liable for certain of KfW’s liabilities. There is no profit distribution.

Detailed explanation-5: -KfW promotes development projects in Africa, the Middle East, Asia, Latin America and South-eastern Europe on behalf of the Federal Government. It supports developing and emerging market countries in improving living conditions and protecting the climate and the environment.