KfW

KfW is the promotional bank of the Federal Republic of Germany, organized as a public-law institution headquartered in Frankfurt am Main and governed by the KfW Law. Acting on behalf of the federal government and the German federal states, it has been mandated since 1948 to improve economic, social and environmental living conditions in Germany and worldwide. KfW operates without retail branches or customer deposits and refinances itself primarily on international capital markets, raising more than 90% of its funds through bond issuance, including large benchmark programmes and “Green Bonds – Made by KfW”. These green bonds channel proceeds into renewable energy and energy‑efficient construction programmes and complement KfW’s role as an SRI investor with a dedicated green bond portfolio mandated by the Federal Ministry for the Environment. Domestically, KfW supports small and medium-sized enterprises, start-ups, self‑employed professionals and private individuals through promotional loans, grants and equity programmes delivered largely via partner banks. Its activities cover energy‑efficient new construction and refurbishment, climate and environmental protection, innovation and digitalisation, education finance, and infrastructure finance for municipalities and regional promotional banks. Internationally, KfW works through business areas and subsidiaries including KfW Development Bank, KfW IPEX‑Bank, DEG and KfW Capital. These units provide export and project finance, development cooperation loans and grants, and equity and fund-of-funds commitments that back innovative technology companies, with a strong focus on climate, energy and SME finance across Europe and in developing and emerging economies. KfW pursues a group-wide sustainability strategy aligned with the UN Sustainable Development Goals and the Paris Climate Agreement, embeds ESG criteria in its financing and investment decisions, and maintains an extensive global network of more than 80 locations.