We finance investments in the future by people in Germany; we finance start-ups and SMEs so that the German economy will remain strong. We finance projects that advance our environment, our municipal and social infrastructures, structural change and the common good. In order to achieve these objectives, a promotional business volume of just under EUR 52 billion was awarded to commercial, private and municipal customers in 2017. This equates to a decrease of around 6% year-on-year.

Despite the decline in overall volume, KfW achieved very encouraging promotional results in areas that are particularly relevant to the future:

• Strong demand from companies for funding for energy-efficiency projects totalling EUR 5.7 billion (+ EUR 0.5 billion year on year)
• Impressive results achieved by the ERP innovation and digitalisation programme launched in July 2017; just six months after its launch, the programme had already reached a volume of around EUR 1.5 billion

Domestic promotional business (EUR in billions)

Legal notice:
The information contained in this online Annual Report 2017 is based on KfW’s Financial Report 2017, which you can download here. Should this online Annual Report 2017, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Financial Report, the KfW Financial Report 2017 takes priority.