The Supervisory Board is a central supervisory body of KfW that advises and monitors the Executive Board. It makes important strategic decisions and oversees the bank’s management.

The Supervisory Board consists of representatives from the Federal Government, the federal states, and other members. Its composition reflects political, economic, and societal interests.

Since 2003, the chair of KfW’s Supervisory Board has alternated annually between the Federal Ministry of Finance and the Federal Ministry for Economic Affairs and Energy.

The Supervisory Board ensures effective corporate governance, enhances transparency and trust in management, and thus guarantees the sustainable development of the bank.

The Executive Board is the highest management body of KfW and is responsible for managing the bank as well as implementing its strategic objectives and directives.

The Executive Board consists of several members, including the Chairperson and other board members, each responsible for different areas of business.

Members of the Executive Board are appointed by the Administrative Board for a fixed term of office.

The Executive Board carries overall responsibility for the success and sustainable development of KfW and ensures that the bank fulfils its public mandate.