Review on KfW by jesus ruiz
KFW has a specific objective, to help the neediest countries to fight poverty and maintain peace.
The KfW or Reconstruction Credit Bank was founded in December 1948 as part of the post war plan known as the Marshall Plan, by Hermann Josef Abs and Otto Schniewind with the firm purpose of financing the German economy devastated by the effects of the Second World War.
KfW Development Bank is considered an experienced bank or development institution with financing expertise, which has been helping the German Federal Government to achieve all its development policy and international cooperation goals for more than 50 years.
KfW finances and supports programs and projects involving mainly public sector actors in developing countries and emerging economies, from conception and implementation to successful follow-up, all on behalf of the German Federal Government,
The projects supported by KFW can range from public contracts such as financing for medium-sized start-up companies to the financing of infrastructure projects, electricity-saving techniques and housing construction.
KfW checks that the projects are sound and feasible from a development point of view. Working with the project's natural partners and specialized consulting firms, they prepare a feasibility study, which provides answers to questions such as economic efficiency, development impacts and potential risks. If all parameters analyzed are beneficial to all parties involved, an intergovernmental agreement is concluded on this issue.
The project executing agency is responsible for the project itself. It is responsible for putting goods and services out to tender and supervises the construction phases. KfW experts assist clients during these steps and provide the German federal government with regular progress reports.
After completion of the project, KfW examines it closely during a final review. The sole purpose is to determine whether or not productivity levels have been achieved, whether or not specifications have been met, and whether or not funds have been used as planned.
KfW also works with emerging economies such as Brazil and India. These countries show relatively high economic growth rates, but face, for the time being, very significant social and ecological challenges, such as: sustainable energy supply, for which they continue to depend on international support.
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Pros
- KfW shows expertise in development policy and many years of national and international experience.
- It supports the establishment of framework conditions and economic and social infrastructure in developing countries.
- It promotes entrepreneurship at the local level to create better living conditions and prospects.
- Supports the German and European economy and finances corporate investments, exports and imports.
Cons
- none at this time
