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]
See also
References
- ^ a b Richard Winkler (2014). "Bayerische Landesanstalt für Aufbaufinanzierung (LfA)". Historisches Lexicon Bayerns.
- ^ "LfA Förderbank Bayern". Fördermittel Deutschland (in German).
- ^ "LfA Förderbank Bayern". Bayern International.
- ^ Dan Taylor (15 July 2021). "Bavarian Government flips the switch on €200 million ScaleUp fund". tech.eu.
- ^ "Mitglieder". VÖB Bundesverband Öffentlicher Banken Deutschlands (in German).
- ^ "LfA Förderbank Bayern". United Nations Global compact.
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