KfW's European commitment
As Germany's national promotional bank, KfW also acts for Europe. The KfW programmes can be used without discrimination by European enterprises or private individuals based in Germany. Some of the programmes also specifically support cross-border projects. An important field of action is project and export finance of KfW IPEX Bank, a wholly owned subsidiary of KfW, to strengthen the German and European export economy. In addition, KfW uses EU risk-sharing guarantees to facilitate access to credit for young companies. KfW pools its resources with those of the European Commission to strengthen the impact of EU development cooperation and contribute to the German government's common goals with the EU. KfW Development Bank and DEG cooperate with EU institutions and other bilateral and European promotional banks on specific projects to combat poverty, improve the living conditions of people in developing countries and protect the climate and oceans.
The new reform program “Green Transition for Georgia” is another example of how further alignment with the EU policies is being put into practice, and a clear commitment by the Georgian Government to pursue its European way.
On 24 November 2023, the German Ambassador Peter Fischer, the French Ambassador Sheraz Gasri as well as representatives of KfW and Agence Française de Développement (AFD), the German Ministry of Economic Cooperation and Development (BMZ) and the EU through the European Delegation to Georgia, signed a joint agreement on the multi-year green reform program with the Georgian Government.
The reform program focuses on “green” topics such renewable energy, green hydrogen, carbon pricing, smart mobility and sustainable finance. It is designed as a policy-based lending approach whereby Georgia benefits from concessional budget financing for successfully implementing EU policies, aligning the country more and more with EU legislation.
KfW Stories
As of February 2023
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