“We are seeing strong demand for funding in the areas of climate change and the environment and, fortunately, a decline in demand for corona aid,” said Stefan Wintels, CEO, who has been in office since last October.
At EUR 34.5 billion, demand for the program for the promotion of energy-efficient buildings, which was recently surprisingly stopped, was significantly higher than in the previous year (EUR 26.8 billion). “The freeze on orders and funding from federal funding for efficient buildings has led to a great deal of disappointment and uncertainty. Rest assured that we, the KfW Executive Board, are very moved by this,” said Wintels. “We are in contact with the relevant ministries and hope that we can offer a solution quickly.”
At the beginning of last week, the Federal Ministry of Economics announced that state subsidies for new buildings would be stopped in view of the flood of applications and the threat of additional costs running into the billions. This means that no new applications for KfW funding can be made in the federal funding for efficient buildings. 24,000 applications are open, including 4,000 from private builders.
KfW intends to comment in detail on the business figures for 2021 at the beginning of April. According to the interim balance sheets published so far, it is foreseeable that the development bank will make billions in profit. In the first nine months of 2021 there was a surplus of around 1.93 billion euros on the books. The profit for the full year 2020, which had shrunk to 525 million euros, has already been significantly exceeded. In the crisis, discounts on investments and additional risk provisions for loans at risk of default had a particularly negative impact. These effects reversed again in 2021.
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