KfW coronavirus aid
The coronavirus pandemic has led to the biggest economic downturn in Germany since World War II. This is the first time since then that so people and businesses have experienced existential hardship. Never have the state and its promotional bank faced such great challenges. Looking back at the history of the Federal Republic of Germany, KfW has always been there in times of need – during the country's post-war reconstruction, the reunification, the financial crisis, the energy transition and the digital transformation.
One year of KfW coronavirus aid: Dr Bräunig and Dr Ingrid Hengster take stock
Coronavirus aid programmes on behalf of the German Federal Government
On behalf of the Federal Government and in close collaboration with the German banking industry, KfW is supporting enterprises of all sizes and from all sectors that are experiencing difficulties as a result of the coronavirus pandemic with its coronavirus aid programmes. To this end, it is providing low-interest loans for investments and operating equipment. Companies can apply for these from their own or any other bank that participates in on-lending on behalf of KfW. These banks pass KfW loans on to their own customers.
KfW's Chief Executive Officer Dr Günther Bräunig said, “2020 was an exceptional year for KfW. Never before have we as a promotional bank been faced with such challenges. KfW has provided more than EUR 50 billion to support businesses, start-ups, students and not-for-profit organisations in Germany, as well as to its partners in developing countries and emerging economies, in their fight against the consequences of the pandemic. At the same time, we have maintained our commitment to sustainable development, digitalisation and innovation.”
The information contained in this online Annual Report 2020 is based on KfW’s Financial Report 2020, which you can download Should this online Annual Report 2020, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Financial Report, the KfW Financial Report 2020 takes priority.