KfW stops loans for projects in China

February 2023: A worker at the construction site of the Yongqing East railway station, which lies on the Tianjin-Daxing link. KfW supported the 100-kilometer line with loans.

The German government has officially informed Beijing that its state-owned development bank KfW will no longer grant loans to China as of next year, not even for climate action projects. The reason: China is a large economy and has enough money.

On Wednesday, Jennifer Morgan, State Secretary at the German Foreign Office and Special Representative for International Climate Policy, will travel to Beijing to discuss opportunities in the joint fight against climate change. However, the former Greenpeace chief’s visit to Beijing is now overshadowed by KfW’s refusal to further provide loans to China.

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