Boston University Global Economic Governance Initiative
Abstract
This repository item contains a working paper from the Boston University Global Economic Governance Initiative. The Global Economic Governance Initiative (GEGI) is a research program of the Center for Finance, Law & Policy, the Frederick S. Pardee Center for the Study of the Longer-Range Future, and the Frederick S. Pardee School of Global Studies. It was founded in 2008 to advance policy-relevant knowledge about governance for financial stability, human development, and the environment.KfW was initially founded in 1948 to finance the reconstruction of war-torn Germany after World War II. The initial capital of the KfW was financed by Marshall
Plan resources, provided by the US government. Additional expansions of capital
have been basically funded from profits of KfW itself which reflects the efficiency
with which it operates, and the high commercial, as well as developmental, quality
of its loans.
KfW has expanded significantly over the years, both in Germany and
internationally. It has become the second largest commercial bank in Germany. Its
large scale and its function as a German government instrument to implement a clear
energy strategy has allowed it to play a key role in Germany to finance major energy
transformation in the country and one of the most important energy transformations
in Europe (known as Energie wende).[TRUNCATED