KfW

KfW is Germany's state-owned investment and development bank, headquartered in Frankfurt and operating alongside subsidiaries including DEG and KfW IPEX-Bank as the KfW Bankengruppe. Its name derives from Kreditanstalt fur Wiederaufbau, meaning Credit Institute for Reconstruction, reflecting its founding in November 1948 as part of the Marshall Plan reconstruction effort after the Second World War. KfW provides financing for housing, environmental protection, small and medium-sized enterprises, export and project finance, and international development, and as of 2025 ranked among the world's largest development banks by total assets, holding 540.7 billion euros in assets and employing 8,699 people, with ownership split between the Federal Republic of Germany at 80 percent and the German states at 20 percent.