German Development Bank (KfW)
Kreditanstalt für Wiederaufbau (KfW) - ²The Restructuring Credit Institute (KfW)² was established in 1948 to cooperate with the local government and the private sector through investment and advisory services to improve economic and social conditions, poverty reduction, protection of natural resources and peace in the world. 80% of the Bank's shares belong to the Government of Germany. The bank operates on behalf of the German Ministry of Economic Cooperation and Development (BMZ). In addition to grants and technical assistance, KfW is also involved in the allocation of large-scale loans to banks in other European countries.
Headquarters are located in Frankfurt, Germany. KfW's board chairman is Ulrich Schroeder since 2008. KfW Bank operates in more than 100 countries around the world. The Bank mainly operates in the areas of socio-economic infrastructure (energy supply, transport, telecommunications), agriculture and resource protection, and crediting of small and medium enterprises. KfW Bank has been cooperating with Azerbaijan since 1994. Since 1998, the bank has a permanent representative office in Azerbaijan.
KfW has been implementing various investment projects and consulting services in Azerbaijan.