DEG achieves record result

The German Investment and Development Company (DEG), which supports businesses in developing and transition countries, made new investments totalling € 930 million last year. That is more than ever before in DEG’s 45-year history, as Winfried Polte, the chief executive, said when presenting the annual balance sheet in Cologne in February. According to Polte, the overall favourable economic and political conditions in many developing countries contributed to making that record possible. In 2006 as in the previous year, the key regions for the new commitments were Asia
(42 %), followed by Latin America (22 %), Europe (19 %) and Africa (16 %). Polte emphasised that the DEG is especially interested in supporting private investments with positive developmental effects in Africa. He expressed satisfaction with € 143 million worth of new commitments there, which is again a record figure. By industry, most commitments (34 %) were made to the financial sector, followed by manufacturing (27 %), infrastructure (21 %) and services (12 %). Last year, the DEG supported German companies planning investments in developing and newly industrialised countries with funds amounting to € 96 million in total, which was yet another record. (ell)