FC Annual Report 2007
KfW Entwicklungsbank and DEG present 2007 Annual Report on Financial Cooperation with Developing Countries
Commitment volume attains new high of EUR 4.2 billion
In 2007 KfW Entwicklungsbank and DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH - committed some EUR 4.2 billion in support for developing and emerging countries. This is far more than expected, and the level of commitments is the highest since the start of business. About 25% more funds (2006: EUR 3.4 billion) were provided for development policy projects in sub-Saharan Africa, North Africa, the Middle East, Asia and Latin America as well as in eastern and southeastern Europe. The strong rise in commitments by KfW Entwicklungsbank is mostly due to greater use of funds raised by KfW itself. In 2007 more than half (57%; previous year: 41%) of the funds provided for development projects were KfW Entwicklungsbank's own funds. DEG was also able to significantly increase its volume of new business by some 30% to EUR 1.2 billion, thus surpassing the one-billion-Euro mark for the first time. This was announced by Dr Norbert Kloppenburg, member of the Board of Managing Directors of KfW, and Dr Winfried Polte, Chairman of the Board of Management of DEG, at the press conference held today in Frankfurt to present the 2007 Annual Report on Financial Cooperation with Developing Countries.
"Working together - for our climate"
The title of the 2007 Annual Report is "Working together - for our climate". By citing numerous examples the report illustrates how, all over the globe, the financing offered by KfW Bankengruppe is making broad, structurally effective contributions to climate protection and is helping developing countries to prepare for the consequences of the climate shift. Climate change impacts developing countries most of all, even though - with the exception of a few countries in Asia - they are accountable for only a small number of these effects. KfW Entwicklungsbank and DEG have been successfully committed to environmental and climate protection for over two decades. In 2007 they again helped their partners in developing countries to tackle this challenge both purposefully and effectively, e.g. by implementing environmentally friendly energy concepts, applying measures that protect their resources and using innovative environmental technologies. "Counteracting climate change is no luxury but rather sheer necessity for the future of humanity. KfW and DEG are committed to serving this goal. We have already developed manifold initiatives in this field in the past and intend to expand our climate protection activities. In doing so we most certainly will not lose sight of poverty reduction, since reducing poverty and protecting the environment are closely intertwined. It is mainly the world’s poorest and most vulnerable countries that need effective help to adequately brace for the consequences of the climate shift – for which they are the least responsible", said Dr Norbert Kloppenburg, member of the Board of Managing Directors of KfW Bankengruppe.
Further Information
15 May 2008
