KfW

KfW is a German state-owned promotional bank based in Frankfurt, Hesse, Germany, that finances sustainable economic, social, and ecological development through various loan and funding programs. It supports a broad range of sectors including small and medium-sized enterprises (SMEs), housing construction, environmental protection, education, infrastructure, and international development cooperation, channeling funds primarily through commercial banks. Recognized as the world's largest national development bank as of 2014 and Germany's third largest bank by balance sheet as of 2018, KfW operates with around 70 offices worldwide. The institution, owned 80% by the Federal Republic of Germany and 20% by German federal states, has provided over EUR 200 million to Ukraine's Business Development Fund since 2022 and manages the ERP Special Fund, which reached EUR 12 billion by 2007. Its leadership includes CEO Stefan Wintels and Supervisory Board Chair Lars Klingbeil. KfW was founded in November 1948.