KfW IPEX-Bank in 2023

Within KfW Group, KfW IPEX-Bank is responsible for export and project finance. It has extensive industry, structuring and country expertise, takes on leading roles in financing consortia and actively involves other banks, institutional investors and insurance firms. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.

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The past year has been marked by many challenges both in Germany and abroad. Politics, the economy and society were once again shaken and challenged by multiple crises – the ongoing war in Ukraine, the new increasing severity of the Middle East conflict and the high inflation throughout large parts of the year with its effects on global economic development, which consequently also increases the costs for the investment projects financed by KfW IPEX-Bank. Despite these developments, KfW IPEX-Bank was able to significantly increase its new commitments in 2023 by EUR 24.2 billion compared to the previous year (EUR 18.1 billion).

• Financing of energy transition projects as well as digital infrastructure projects and innovative technologies, such as battery cell production, in particular, were in high demand in the past financial year.
• Of these new commitments, EUR 23.3 billion (2022: EUR 17.5 billion) related to original lending business and EUR 0.9 billion (2022: EUR 0.6 billion) to funds for bank refinancing under the CIRR ship financing, ERP export financing and Africa CIRR export financing programmes.

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The positive business development in 2023 underpins KfW IPEX-Bank’s efforts to finance technologies of the future in order to support the transformation to a sustainable, digital world.

In the past financial year, KfW IPEX-Bank again made important contributions to overcoming long-term global challenges in particular – by financing energy and environmental projects, securing German and European jobs by supporting the export industry, or by expanding important – increasingly also digital – infrastructure.

Legal notice:
The information contained in this online Annual Report 2023 is based on KfW’s Financial Report 2023, which you can download here. Should this online Annual Report 2023, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Financial Report, the KfW Financial Report 2023 takes priority.