The state bank KfW is supporting the German economy in the energy crisis with enormous sums.
With 46 billion euros alone, it helps struggling energy companies.
In the first nine months of the year, it awarded 17 billion euros to medium-sized companies investing in more energy efficiency and renewable energies.
If the development bank had already shown during the Corona pandemic that it can also support large parts of the entire German economy if necessary, the consequences of the Ukraine war and the energy crisis could once again significantly exceed the costs of the pandemic.
The words chosen by CEO Stefan Wintels are correspondingly bold: KfW will support Germany on its way to energy sovereignty with all the means at its disposal.
This is reminiscent of the “whatever it takes” with which the then head of the ECB, Mario Draghi, implored the rescue of the euro.
KfW will not run out of money.
The federal and state owners, in other words the taxpayers, take care of that.
But when KfW issued a bond a few weeks ago, demand was manageable.
And she has to pay more interest again.