Modernisation and climate protection
During the 1990s, the Russian Federation experienced an era of liberalisation. The country moved toward greater social and political openness and the economy underwent a transformation. But large parts of the population lost their savings and production fell sharply. At the same time, the largest country in the world suffered from the loss of its geopolitical power. Since 1998, the country has stabilised, which has gone hand in hand with a stronger central government, mainly in conjunction with the fact that the Russian Federation was able to reap the benefits from the increase in energy prices. The Russian Federation is also an important energy supplier and trade partner for Germany. KfW Development Bank has been supporting the transformation process in the Russian Federation since 1993. It is mainly engaged in promoting the private sector. KfW also supports the Russian Federation with concepts for preserving forests and biodiversity. New projects are currently not planned due to the conflict with the Ukraine.