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LfA Förderbank Bayern
German regional promotional bank From Wikipedia, the free encyclopedia
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LfA Förderbank Bayern is the regional promotional bank (German: Förderbank) for the German state of Bavaria. It was established by law of 7 December 1950, initially as Landesanstalt für Aufbaufinanzierung (LfA),[1] which makes it the oldest of the Förderbanken. It is headquartered in Munich.[2]
Overview
LfA started operations on 1 May 1951.[1] It provides financing for start-ups, environmental protection, and other areas deemed of public interest. It does not compete with commercial banks but co-lends or co-invests with them and provides guarantees. It also controls investment companies, namely BayBG Bayerische Beteiligungsgesellschaft mbH and Bayern Kapital GmbH.[3] In July 2021, the latter was entrusted with the management of a €200 million scale-up fund at the initiative of the Bavarian state government.[4]
Together with other Förderbanken and the more commercially oriented Landesbanken, LfA Förderbank Bayern is a member of the Association of German Public Banks (VÖB).[5] Since September 2023, it has been a member of the United Nations Global Compact.[6]
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References
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