As a bank that stands for transformation, KfW IPEX-Bank finances technologies of the future to support the transition to a sustainable society. Using ambitious sector guidelines for CO2-intensive sectors, it ensures the compatibility of its financing transactions with the goals of the Paris Agreement on climate change.
2024 was an eventful year, with the German and European economies facing substantial ongoing challenges. Continuing geoeconomic uncertainty due to conflicts in Ukraine and the Middle East, concerns about increasing trade fragmentation and persistent economic weakness, particularly in Germany but also in core Europe, had a negative impact on investment activities and foreign trade. At the same time, growing demands for sustainable transformation have increased the pressure to make business models more environmentally friendly and resilient. This meant that KfW IPEX-Bank, which is focused on supporting the German and European export industry, also faced a challenging environment.
KfW IPEX-Bank coped with these challenges admirably, with 2024 proving to be another great year – following directly on from a record year in 2023. New commitments of EUR 23.9 billion are convincing proof of this. Of this amount, EUR 22.4 billion related to original lending business and EUR 1.5 billion to funds for bank refinancing under the CIRR programmes. Our global team thus delivered a seamless follow-up to our excellent achievement in the 2023 financial year. Many domestic customers benefited from this performance by maintaining and expanding production capacity and opening up new sales markets, thereby securing jobs in Germany.
KfW IPEX-Bank supported German and European companies with targeted financing for sustainable and future-oriented projects in order to develop innovative technologies and tap into new markets. Financing for energy transition projects, digital infrastructure projects and innovative technologies was especially in demand during the past financial year. KfW IPEX-Bank made significant contributions to overcoming long-term global challenges and strengthening the domestic economy on a sustainable basis in a globally competitive environment.
Global dynamics will continue to shape our activities in 2025. We regard this as an opportunity and will provide our German and international customers with the best possible support for meeting their challenges. We will continue to strengthen the German and European economies on global markets with sustainable, resilient and innovative financing solutions. Economic transformation remains our guiding principle. We are committed to financing projects that drive the green transition and create long-term value – for local companies, the environment and future generations.
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The information contained in this online Annual Report 2024 is based on KfW IPEX-Bank’s Management Report 2024, which you can download here. Should this online Annual Report 2024, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Management Report, KfW IPEX-Bank’s Management Report 2024 takes priority.
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