LfA Förderbank Bayern
German regional promotional bank
From Wikipedia, the free encyclopedia
LfA Förderbank Bayern is a German regional development 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]
| |
 LfA head office at Königinstraße 17 in Munich | |
| Type | State owned enterprise |
|---|---|
| Industry | Financial services |
| Founded | May 1, 1951 |
| Headquarters | , |
Area served | Bavaria |
| Products | Loans, development loans |
| Owner | Bavarian state government |
Number of employees | 333 (2015) |
| Website | www |
History
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]
Operations
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]
