OREANDA-NEWS. KfW and DEG commit EUR 6.7 billion for projects in developing and emerging countries

Focus on climate and environmental protection: KfW commits EUR 2.8 billion (53%), DEG EUR 649 million (44%)

In 2013, KfW Development Bank and KfW subsidiary Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) further increased their cooperation with developing and emerging countries. On behalf of the German federal government, they committed approximately EUR 6.7 billion for projects and programmes in Africa, Asia, Latin America and Southeast Europe, about EUR 0.5 billion more than the previous year. They increased their activity in Africa in particular. A total of about EUR 1.5 billion went to sub-Saharan Africa alone (previous year: EUR 1 billion).

The funds committed by KfW and DEG support projects in a wide variety of partner countries, from fragile states like those of Mali and the Democratic Republic of the Congo to emerging countries like those of Brazil and India. In so doing, the two financial institutions targeted climate and environmental protection in particular. KfW alone spent 53% of its funds in this area, i.e. EUR 2.8 billion of its total investment of EUR 5.3 billion. Of this, EUR 1.6 billion was invested in the global expansion of the use of renewable energy and in energy efficiency. DEG, which finances and advises private companies in developing and emerging countries, committed EUR 649 million (2012: EUR 587 million) for investments promoting climate and environmental protection as well as adaptations to climate change.

“Promoting climate and environmental protection is and remains a key area for KfW. Many developing and emerging countries are facing enormous social and ecological challenges, such as sustainable energy production, for which they need international support. That's why we promote low-carbon projects and create perspectives for future generations”, said Dr Norbert Kloppenburg, Member of the KfW Executive Board.