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Responsibility for today. And far beyond.

As a bank committed to responsibility, KfW promotes sustainable prospects for people, companies, the environment and society. In doing so, we focus on topics which are of particular relevance for the future – in line with the UN’s Sustainable Development Goals (SDGs).


Annual and Financial Reporting 2021
Figures, facts and impact in detail

Reporting until 2020

Archive of Annual Reports

Letter from the Executive Board

Dear readers,

2021 was an exceptional promotional year for KfW. After the second wave of the pandemic abated at the beginning of the year, we were very optimistic about what the year still held in store. Many economists expected a rapid recovery of the global economy. In actual fact, new waves of infection quickly forced us to face reality. The unpredictable development of the pandemic, persistent supply chain bottlenecks, rising energy costs, soaring inflation and growing international political tension created great uncertainty. In this very challenging environment, KfW provided active support to the economy and society in Germany as well as to its partners worldwide.

Current key figures

Currently in the focus of our promotional business: securing the energy supply

In the coming years, KfW will make an increased contribution to accelerating the sustainable transformation of the economy and society, while at the same time strengthening Germany's position as a place for industry and technology. Moreover, as a consequence of the war in Ukraine, resilience in many key economic areas will have to be significantly shored up.

The security of energy supply and the increased use of climate-friendly energies are among the central tasks for Germany in the future. KfW supports projects for energy generation and transport in many different ways.

Legal notice:
The information contained in this online Annual Report 2021 is based on KfW’s Financial Report 2021, which you can download here. Should this online Annual Report 2021, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Financial Report, the KfW Financial Report 2021 takes priority.