The KfW Group reported a significant growth in new business in the first half of 2022, attributed to non-recurring impacts, domestic promotion, and financing that more than doubled. In addition, the support programs from the government of Germany for energy supply firms added EUR 33.4 billion to this outcome in response to the conflict in Ukraine.
The priority area of the EUR 7.8 billion were start-ups and corporate investments. Demand for the coronavirus aid programs surged dramatically, resulting in a EUR 3.6 billion commitment for SMEs before the application period’s closure (April 30, 2022). A new commitment level of only EUR 14 million was introduced at the beginning of May and will provide short-term finance to German enterprises affected by the Ukraine crisis.
Pledges for climate change and the environment increased to EUR 14.7 billion. The Federal Funding for Efficient Buildings (BEG) and KfW Renewable Energies Programme were the main drivers and accounted for EU9.1 billion promotional business volume, contributing EUR 4.5 billion to this endeavor. New pledges in innovation totaled EUR 1.0 billion-a significant increase from last year (H1 2021: EUR 0.5 billion). The ERP Digitalization and Innovation Loan were responsible for the pledges.