KfW was founded in 1948, to support the economic reconstruction of West Germany. In the 1960s, KfW went international by implementing German Financial Cooperation with Developing Countries on behalf of the German government. As a bank committed to responsibility, KfW´s mission is to support sustainable economic, social, and environmental development in Germany and worldwide. KfW is not profit-oriented and always acts on a mandate by the German Government and KfW´s General Assembly, which is composed of representatives of all relevant stakeholder groups, ranging from the German government, the parliament, and the federal states to the churches, trade unions, and the private sector. This is what sets KfW apart from commercial banks.
End of 2022, the balance sheet is around 550 bln EUR and the annual commitments worldwide exceed 170 bln EUR, thereof roughly 13 bln EUR in Development Cooperation. In total, KfW has 7,960 employees. The overarching goals are improving people’s economic and social living conditions, alleviating poverty, and protecting the climate and environment. As an institution that is governed by public law, the German Federal Government owns 80% of our capital, with the remaining 20% owned by the German federal states.