News from 2021-04-06 / KfW Development Bank
One year of KfW coronavirus aid - and how KfW Development Bank contributed to it
Exactly one year ago, KfW launched its coronavirus aid programmes. In spring 2020, the economy in Germany contracted by 9.7 per cent, an unprecedented decline in Germany's post-war history. But it was not only in our country that large parts of the economy and other target groups such as students, start-ups and non-profit organisations were dependent on support from the German government. The need was also enormous in the partner countries of Financial Cooperation.
In order to provide rapid assistance in the most urgent areas of need there as well, KfW Development Bank played a key role in the Corona Emergency Programme of the Federal Ministry for Economic Cooperation and Development (BMZ). By mid-February 2021, more than EUR 4 billion had been converted into concrete support measures under this programme, and over EUR 3 billion had already been disbursed.
In an interview, Roland Siller, member of the Management Committee of KfW Development Bank, describes how dramatic the situation was in developing and emerging economy countries. He also discusses the priorities that were set for FC Corona aid and how KfW Development Bank managed organisationally not to leave its partners alone. In a video, the staff members who held the fort in KfW’s external offices, for example in Delhi, in Lima or in Northern Africa, also have their say - via a direct link they give a concrete impression of the living conditions on the ground. Thanks to the "social capital", KfW's good relationships with its partners and, last but not least, the local experts, it was possible to bring German Corona aid close to many people in developing and emerging economy countries within one year.