No Cuts in KfW Programme Promoting Energy Efficient Renovation

The Financial Committee of the Bundestag (German Parliament) reportedly allocated EUR 1.5 billion for the KfW programme promoting energy efficient renovation, the same amount as last year.

KfW is a development bank, owned by the Federal Republic of Germany and the Federal States (Länder). KfW inter alia promotes energy saving by providing loans at reduced interest rates.

Originally, the government had intended to lower allocations to KfW to EUR 1.1 billion. The Social Democrats and the Greens as well as politicians of the ruling Christian Democrats, Christian Social Democrats and Liberals had opposed the cuts.

Source: Rheinische Post

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