KfW

KfW is Germany's state-owned promotional and development bank, established in 1948 to support economic development and public policy objectives. Based in Frankfurt, it finances businesses, infrastructure, housing, innovation, environmental protection, and climate-related projects in Germany and internationally. KfW is a public-law institution owned 80% by the German Federal Government and 20% by Germany's federal states. Through KfW Development Bank, it also finances development and climate projects in emerging and developing economies on behalf of the German government, including programs commissioned by the Federal Ministry for Economic Cooperation and Development.