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91-455: Africa Finance Corporation ( AFC ) is a pan-African Multilateral Development Financial Institution established in 2007 by sovereign African states to provide pragmatic solutions to Africa's infrastructure deficit and challenging operating environment. The Corporation bridges the infrastructure investment gap through the provision of debt and equity finance, project development, technical and financial advisory services. AFC's investment remit

182-695: A 23.2% stake in Mozambican power developer Ncondezi Energy. Also in December 2014, AFC became the largest investor and lead developer in the US$ 900 million Kpone Independent Power Project (Kpone IPP) in Ghana, which comprises a 350MW gas turbine, a substation and fuel storage. In July 2015, the corporation signed a joint development agreement with the Ivorian project company Ivoire Hydro Energy SA (IHE) to build

273-660: A 44MW hydroelectric power plant in Singrobo, Côte d'Ivoire. In June 2016, AFC and institutional investor Harith General Partners merged their power sector assets to form a new entity combining renewable and non-renewable power generating assets in Africa. AFC signed its first loan – a US$ 50 million bilateral deal with Standard Bank – in July 2011. The following year the African Development Bank (AfDB) approved

364-404: A US$ 200 million line of credit to AFC with the mandate to catalyse investments and help bridge Africa’s infrastructure gap. In October 2013, AFC launched its first syndicated loan – a US$ 250 million deal with Citibank, Rand Merchant Bank, Standard Bank, and Standard Chartered Bank – to finance trade projects. In June 2016, AFC borrowed US$ 150 million for 15 years from KfW , for onward lending in

455-540: A US$ 215 million debt financing facility for the acquisition of the Ughelli Power plc by Transcorp. The previous month it had joined Lagos-based Vigeo and India’s Tata Power in a consortium which successfully bid US$ 129 million for Benin Distribution Company. In August 2013, AFC provided a US$ 170 million loan facility to Nigerian firm Mainstream Energy Solutions Limited (MESL) in its successful bid for

546-511: A more independent status, especially in Bavaria. However, it has no legal significance. All sixteen states are represented at the federal level in the Bundesrat (Federal Council), where their voting power depends on the size of their population. Germany is a federal , parliamentary , representative democratic republic . The German political system operates under a framework laid out in

637-581: A plan to divide the German Reich into 14 roughly equal-sized states. His proposal was turned down due to opposition of the states and concerns of the government. Article 18 of the constitution enabled a new delimitation of the German territory but set high hurdles: "Three fifth of the votes handed in, and at least the majority of the population are necessary to decide on the alteration of territory". In fact, until 1933 there were only four changes in

728-543: A public agency and unremunerated equity provided by its public shareholders allow KfW to provide loans for purposes prescribed by the KfW law at lower rates than commercial banks. KfW is not allowed to compete with commercial banks, but it facilitates their business in areas within its mandate. KfW banking group has three business units with distinct functions, as well as several subsidiaries. Lending by KfW group's two main business units, accounting for more than 90% of total lending,

819-628: A referendum in the Federal Republic as a whole (paragraph 4) was abolished, which meant territorial revision was no longer possible against the will of the population affected by it. East Germany had originally consisted of five states (i.e., Brandenburg, Mecklenburg-Vorpommern, Saxony, Saxony-Anhalt, and Thuringia). In 1952, these states were abolished and the East was divided into 14 administrative districts called Bezirke . Soviet -controlled East Berlin – despite officially having

910-427: A revision, the federal government had to include the proposal into its legislation. Then a referendum was required in each territory or part of a territory whose affiliation was to be changed (paragraph 3). The proposal should not take effect if within any of the affected territories a majority rejected the change. In this case, the bill had to be introduced again and after passing had to be confirmed by referendum in

1001-705: Is KfW IPEX-Bank. KfW IPEX-Bank is active in project finance and corporate finance related to German or European exports. It also promotes foreign investments in Germany. Unlike KfW, it competes directly with commercial banks. Therefore, and in response to concerns voiced by the European Commission concerning unfair competition, KfW IPEX-Bank has become legally and financially independent in 2008. KfW IPEX-Bank's main sectors of activity are ports, airports, toll roads, bridges and tunnels, railways, ships, planes, telecommunications, energy, and manufacturing. In 2014

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1092-514: Is in Germany and, to a limited extent, in other European countries. However, its largest subsidiary, KfW IPEX-Bank GmbH, predominantly lends internationally. A smaller subsidiary, the German Investment Corporation (DEG), and one of the group's smaller business units, KfW Development Bank, are exclusively active in the international arena, each within their particular business areas. KfW Förderbank (KfW promotional Bank),

1183-668: Is pan- African, focusing on investment across makes investments across five key sectors; Power, Transport and Logistics, Natural Resources, Telecommunications and Heavy industries. AFC is majority owned by private investors the bulk of which are African financial institutions, Private investors own 62% of the corporation. A further 38% is owned by the Central Bank of Nigeria. In addition to private investors owning shares, AFC’s allows African states (through their respective central banks, sovereign wealth funds, state pension funds or similar institutions) to be both shareholders and members of

1274-429: Is referred to as "Land government" (Landesregierung) . Before 1 January 2000, Bavaria had a bicameral parliament, with a popularly elected Landtag , and a Senate made up of representatives of the state's major social and economic groups. The Senate was abolished following a referendum in 1998. The states of Berlin, Bremen, and Hamburg are governed slightly differently from the other states. In each of those cities,

1365-670: Is sometimes propagated by the richer states as a means to avoid or reduce fiscal transfers . In southwestern Germany, territorial revision seemed to be a top priority since the border between the French and American occupation zones was set along the Autobahn Karlsruhe-Stuttgart-Ulm (today the A8 ). Article 118 stated "The division of the territory comprising Baden , Württemberg-Baden and Württemberg-Hohenzollern into Länder may be revised, without regard to

1456-404: Is very common to use the term Bundesland (federated Land ). Officially this term Bundesland neither appears in the constitution of 1919 nor in the current one. Three Länder call themselves Freistaaten ("free states", an older German term for "republic"): Bavaria (since 1919), Saxony (originally from 1919 and again since 1990), and Thuringia (since 1994). Of the 17 states at the end of

1547-665: The Congress of Vienna (1815), 39 states formed the German Confederation . The Confederation was dissolved after the Austro-Prussian War in which Prussia defeated Austria and forced Austria to remove itself from the affairs of the German states. Territorial boundaries were essentially redrawn as a result of military conflicts and interventions from the outside: from the Napoleonic Wars to

1638-682: The Congress of Vienna , the number of territories decreased from about 300 to 39; in 1866 Prussia annexed the sovereign states of Hanover , Nassau , Hesse-Kassel , and the Free City of Frankfurt . Prussia and the other states in Northern and Central Germany united as a federal state , the North German Federation , on 1 July 1867. Four of the five southern German states (Bavaria, Württemberg, Baden and Hesse-Darmstadt) entered military alliances with Prussia but Austria did not. In

1729-721: The Deutsche Mark was introduced as legal tender in the Saarland. Paragraph 6 of Article 29 stated that, if a petition was successful, a referendum should be held within three years. Since the deadline passed on 5 May 1958 without anything happening, the Hesse state government filed a constitutional complaint with the Federal Constitutional Court in October 1958. The complaint was dismissed in July 1961 on

1820-604: The Franco-Prussian War of 1870–71, those four states joined the North German Federation which was consequently renamed to German Empire . The parliament and Federal Council decided to give the Prussian king the title of German Emperor (since 1 January 1871). The new German Empire included 25 states (three of them, Hanseatic cities) and the imperial territory of Alsace-Lorraine . Within

1911-673: The Oder-Neisse line fell under either Polish or Soviet administration but attempts were made at least symbolically not to abandon sovereignty well into the 1960s. The former provinces of Farther Pomerania , East Prussia , Silesia and Posen-West Prussia fell under Polish administration with the Soviet Union taking the area around Königsberg (now Kaliningrad), pending a final peace conference with Germany which eventually never took place. More than 8 million Germans had been expelled from these territories that had formed part of

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2002-680: The Regierender Bürgermeister (governing mayor) in Berlin. The parliament for Berlin is called the Abgeordnetenhaus (House of Representatives), while Bremen and Hamburg both have a Bürgerschaft . The parliaments in the remaining 13 states are referred to as Landtag (State Parliament). The city-states of Berlin and Hamburg are subdivided into Districts . The City of Bremen consists of two urban districts : Bremen and Bremerhaven , which are not contiguous. In

2093-477: The Renewable Energy Law of 2000. It also invests in municipal infrastructure such as public transport and sanitation through a sub-unit called KfW Kommunalbank (KfW municipal bank). More recently (since 2006), it has also engaged in education where it provides student loans. KfW Mittelstandsbank (which roughly translates as KfW small and medium enterprises bank), the second largest business unit of

2184-537: The Saarland  – which later received a special status – in the French zone; Mecklenburg(-Vorpommern) , Brandenburg , Saxony , Saxony-Anhalt , and Thuringia in the Soviet zone . No single state comprised more than 30% of either population or territory; this was intended to prevent any one state from being as dominant within Germany as Prussia had been in the past. Initially, only seven of

2275-567: The Weimar Republic , six still exist (though partly with different borders): The other 11 states of the Weimar Republic either merged into one another or were separated into smaller entities: Some territories bordering other states were annexed to the bordering state. Also, Prussia had exclaves that were surrounded by other states. These became part of their surrounding states. All states, except Bavaria , now have territory of

2366-603: The West German constitution thus applied to the entire German people . Article 23, which had allowed "any other parts of Germany" to join, was rephrased. It had been used in 1957 to reintegrate the Saar Protectorate as the Saarland into the Federal Republic, and this was used as a model for German reunification in 1990. The amended article now defines the participation of the Federal Council and

2457-582: The 1,338 MW Kainji Hydroelectric power plant in Niger State, Nigeria. At the same time it was invited to become a private sector partner in the US $ 7 billion USAID-funded ‘Power Africa’ initiative announced by US President Obama in Cape Town. AFC has since invested US$ 250 million and leveraged an additional US$ 1billion of investments in the power sectors of Ghana, Kenya and Nigeria. In December 2014, AFC took

2548-556: The 16 German states in matters concerning the European Union . Article 29 was again modified and provided an option for the states to "revise the division of their existing territory or parts of their territory by agreement without regard to the provisions of paragraphs (2) through (7)". Article 118a was introduced into the Basic Law and provided the possibility for Berlin and Brandenburg to merge "without regard to

2639-540: The 1949 constitutional document known as the Grundgesetz (Basic Law). By calling the document the Grundgesetz , rather than Verfassung (constitution), the authors expressed the intention that it would be replaced by a true constitution once Germany was reunited as one state. Amendments to the Grundgesetz generally require a two-thirds majority of both chambers of the parliament; the fundamental principles of

2730-570: The American states and regional governments in other federations without serious calls for territorial changes" in those other countries. Arthur B. Gunlicks summarizes the main arguments for boundary reform in Germany: "the German system of dual federalism requires strong Länder that have the administrative and fiscal capacity to implement legislation and pay for it from own source revenues. Too many Länder also make coordination among them and with

2821-480: The Basic Law as a binding order. An expert commission was established, named after its chairman, the former Secretary of State Professor Werner Ernst. After two years of work, the experts delivered their report in 1973. It provided an alternative proposal for the two regions: the north and center-southwest. In the north, either a single new state consisting of Schleswig-Holstein, Hamburg, Bremen and Lower Saxony should be created (solution A) or two new states, one in

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2912-641: The Central Bank of Nigeria (CBN), with US$ 2 billion of authorised share capital. In June, 2009 AFC agreed an equity financing deal with a consortium of investors in the US$ 240 million Main One Cable System, a 7,000 km submarine fibre-optic cable connecting West Africa to Europe. By July 2009, it was reported by Reuters that AFC had US$ 180 million invested in oil and gas, telecoms, transport and airline projects – mainly in Nigeria. In September 2011,

3003-608: The Federal Minister of the Interior by reference to the referendum of 1951. However, the Federal Constitutional Court of Germany ruled that the rejection was unlawful: the population of Baden had the right to a new referendum because the one of 1951 had taken place under different rules from the ones provided for by article 29. In particular, the outcome of the 1951 referendum did not reflect

3094-399: The Federal Republic as a whole (paragraph 4). The reorganization should be completed within three years after the Basic Law had come into force (paragraph 6). Article 29 states that "the division of the federal territory into Länder may be revised to ensure that each Land be of a size and capacity to perform its functions effectively". In their letter to Konrad Adenauer ,

3185-587: The Federal Republic of Germany (80 percent) and the States of Germany (20 percent). It is led by a five-member executive board headed by CEO Stefan Wintels  [ de ] , which in turn reports to a 37   member Board of Supervisory Directors. The chair and deputy chair of the Board of Supervisory Directors are the German Federal Ministers of Finance and of Economic Affairs , with

3276-625: The Federal Republic of Germany in 1949. This was in contrast to the post-war development in Austria , where the national Bund ("federation") was constituted first, and then the individual states were carved out as units of that federal nation. The German use of the term Länder ("lands") dates back to the Weimar Constitution of 1919. Previously, the states of the German Empire had been called Staaten ("states"). Today, it

3367-549: The Federal Territory must be revised (paragraph 1). Moreover, in territories or parts of territories whose affiliation with a Land had changed after 8 May 1945 without a referendum, people were allowed to petition for a revision of the current status within a year after the promulgation of the Basic Law (paragraph 2). If at least one tenth of those entitled to vote in Bundestag elections were in favour of

3458-552: The French-occupied Saar Protectorate was returned and formed into the Saarland , the Federal Republic consisted of ten states, which are referred to as the " Old States " today. West Berlin was under the sovereignty of the Western Allies and neither a Western German state nor part of one. However, it was in many ways integrated with West Germany under a special status. A new delimitation of

3549-431: The German state, KfW holds shares in a variety of corporations, including Deutsche Post , Deutsche Telekom , Commerzbank , Lufthansa , and CureVac . In 2013, KfW agreed to help establish a Portuguese financial institution to foster economic growth and boost job creation in the country. The magazine Global Finance rated KfW as the safest bank in the world in its "World's 50 Safest Banks 2014" rating. The rating

3640-590: The German-speaking lands for centuries and which mostly did not have sizable Polish minorities before 1945. However, no attempts were made to establish new states in these territories, as they lay outside the jurisdiction of West Germany at that time. In 1948, the military governors of the three Western Allies handed over the so-called Frankfurt Documents to the minister-presidents in the Western occupation zones. Among other things, they recommended revising

3731-680: The Nazi regime via the Gleichschaltung process, as the states administratively were largely superseded by the Nazi Gau system . Three changes are of particular note: on 1 January 1934, Mecklenburg-Schwerin was united with neighbouring Mecklenburg-Strelitz ; and, by the Greater Hamburg Act ( Groß-Hamburg-Gesetz ) of 1937, the territory of the city-state was extended, while Lübeck lost its independence and became part of

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3822-694: The Prussian province of Schleswig-Holstein . During the Allied occupation of Germany after World War II , internal borders were redrawn by the Allied military governments. New states were established in all four zones of occupation: Bremen , Hesse , Württemberg-Baden , and Bavaria in the American zone ; Hamburg , Schleswig-Holstein , Lower Saxony , and North Rhine-Westphalia in the British zone ; Rhineland-Palatinate , Baden , Württemberg-Hohenzollern and

3913-460: The Saarland (solution C), the district of Germersheim would then become part of Baden-Württemberg. The other alternative was that the Palatinate (including the region of Worms ) could be merged with the Saarland and Baden-Württemberg, and the rest of Rhineland-Palatinate would then merge with Hesse (solution D). Both alternatives could be combined (AC, BC, AD, BD). At the same time,

4004-414: The Western Allies, viewed itself as part of the Federal Republic and was largely integrated and considered a de facto state. In 1952, following a referendum , Baden, Württemberg-Baden, and Württemberg-Hohenzollern merged into Baden-Württemberg . In 1957, the Saar Protectorate joined the Federal Republic as the state of Saarland . The next change occurred with German reunification in 1990, in which

4095-514: The affected states, the proposals were shelved. Public interest was limited or nonexistent. The referendum in Baden was held on 7 June 1970. 81.9% of voters decided for Baden to remain part of Baden-Württemberg, only 18.1% opted for the reconstitution of the old state of Baden . The referendums in Lower Saxony and Rhineland-Palatinate were held on 19 January 1975 (the percentages given are

4186-697: The balance sheet total of KfW IPEX-Bank amounted to € 26.3 billion. Another subsidiary of KfW banking group, the German Investment Corporation (DEG), takes minority equity stakes and provides loans to private companies investing in developing countries. It pursues a business model broadly similar to that of the International Finance Corporation of the World Bank Group . Its main sectors of activity are banking, agro-business , renewable energy, telecommunications and manufacturing. It lent 1.2 billion in 2008. On behalf of

4277-656: The boundaries of the West German states in a way that none of them should be too large or too small in comparison with the others. As the premiers did not come to an agreement on this question, the Parliamentary Council was supposed to address this issue. Its provisions are reflected in Article ;29 of the Basic Law . There was a binding provision for a new delimitation of the federal territory:

4368-490: The capital market. KfW also provides loans to European commercial banks to help them finance SMEs, housing and infrastructure (so-called global loans). KfW Entwicklungsbank (KfW Development Bank) provides financing to governments, public enterprises and commercial banks engaged in microfinance and SME promotion in developing countries. It does so through loans close to market terms using its own resources ("promotional loans"), soft loans that blend KfW resources with support from

4459-454: The commission developed criteria for classifying the terms of Article 29 Paragraph 1. The capacity to perform functions effectively was considered most important, whereas regional, historical, and cultural ties were considered as hardly verifiable. To fulfill administrative duties adequately, a population of at least five million per state was considered as necessary. After a relatively brief discussion and mostly negative responses from

4550-631: The configuration of the German states: the 7  Thuringian states were merged in 1920, whereby Coburg opted for Bavaria , Pyrmont joined Prussia in 1922, and Waldeck did so in 1929. Any later plans to break up the dominating Prussia into smaller states failed because political circumstances were not favourable to state reforms. After the Nazi Party seized power in January 1933, the Länder were gradually abolished and reduced to provinces under

4641-419: The consent of the federal government (Article 32 of the Basic Law). Typical treaties relate to cultural relationships and economic affairs. Some states call themselves a " free state " ( Freistaat ). It is merely a historic synonym for "republic" and was a description used by most German states after the abolishment of monarchy after World War I . Today, Freistaat is associated emotionally with

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4732-401: The constituent states have certain limited powers in this area: in matters that affect them directly, the states defend their interests at the federal level through the Bundesrat ("Federal Council"), and in areas where they have the legislative authority they have limited powers to conclude international treaties "with the consent of the federal government". It was the states that formed

4823-416: The constitution, as expressed in the articles guaranteeing human dignity, the separation of powers, the federal structure, and the rule of law are valid in perpetuity. Despite the original intention, the Grundgesetz remained in effect after the German reunification in 1990, with only minor amendments. The federal constitution stipulates that the structure of each Federated State's government must "conform to

4914-432: The constitution. An appeal against the decision was rejected as inadmissible by the Federal Constitutional Court. On 24 August 1976, the binding provision for a new delimitation of the federal territory was altered into a mere discretionary one. Paragraph 1 of Article 29 was rephrased, with the provision that any state had to be "of a size and capacity to perform its functions effectively" put first. The option for

5005-405: The corporation partnered with the African Export-Import Bank (Afreximbank) and Banque Internationale pour l' Afrique Occidentale - Côte d'Ivoire (BIAO-CI) in a US$ 320 million trade finance facility to finance the importation, processing and refining of crude oil by Societe Ivoirienne de Raffinage (SIR). In June 2013, AFC announced its support for privatisation of the Nigerian power sector, providing

5096-428: The corporation. As of December 2022, AFC has forty (40) member states. Africa Finance Corporation, to date, has invested over US$ 11.5 billion in infrastructure projects across Africa. Africa Finance Corporation (AFC) was launched in December, 2007 by the founding President and Chief Executive Mr Austine Ometoruwa, then Citibank Africa Investment Bank Head and by the founding Chairman Chukwuma Soludo, then governor of

5187-416: The empire, 65% of the territory and 62% of the population belonged to the state of Prussia. After the territorial losses of the Treaty of Versailles , the remaining states continued as republics of a new German federation. The debate on a new delimitation of the German territory started in 1919 as part of discussions about the new constitution. Hugo Preuss , the father of the Weimar Constitution , drafted

5278-404: The executive branch consists of a Senate of approximately eight, selected by the state's parliament; the senators carry out duties equivalent to those of the ministers in the larger states. The equivalent of the minister-president is the Senatspräsident (president of the senate), also commonly referred to as Bürgermeister (Mayor) in Bremen, the Erster Bürgermeister (first mayor) in Hamburg, and

5369-437: The federal government's aid budget ("development loans"), as well as highly subsidized loans and grants, the latter two coming entirely from the federal aid budget. Different country groups are offered different financing conditions depending mainly on their per capita income. All these financing instruments are part of what is officially called development cooperation and is often also called " development aid ". In German aid,

5460-402: The federal system: the legislatures are popularly elected for four or five years (depending on the state), and the minister-president is then chosen by a majority vote among the Landtag ' s members. The minister-president is typically the head of the biggest party of a coalition. The minister-president appoints a cabinet to run the state's agencies and to carry out the executive duties of

5551-487: The federal territory has been discussed since the Federal Republic was founded in 1949 and even before. Committees and expert commissions advocated a reduction of the number of states; academics ( Werner Rutz , Meinhard Miegel , Adrian Ottnad , etc.) and politicians ( Walter Döring , Hans Apel , and others) made proposals – some of them far-reaching – for redrawing boundaries but hardly anything came of these public discussions. Territorial reform

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5642-412: The federation more complicated." But several proposals have failed so far; territorial reform remains a controversial topic in German politics and public perception. Federalism has a long tradition in German history. The Holy Roman Empire comprised many petty states , numbering more than 300 in around 1796. The number of territories was greatly reduced during the Napoleonic Wars (1796–1814). After

5733-412: The federation. The states retain residual or exclusive legislative authority for all other areas, including culture, which in Germany includes not only topics such as the financial promotion of arts and sciences, but also most forms of education and job training (see Education in Germany ). Though international relations including international treaties are primarily the responsibility of the federal level,

5824-446: The five " New States " on 3 October 1990. The former district of East Berlin joined West Berlin to form the new state of Berlin. Henceforth, the 10 "old states" plus 5 "new states" plus the new state Berlin add up to current 16 states of Germany. After reunification, the constitution was amended to state that the citizens of the 16 states had successfully achieved the unity of Germany in free self-determination and that

5915-409: The former Free State of Prussia. Other former Prussian territories lying east of the rivers Neisse and Oder were lost in 1945 and are now part of Poland or Russia . They are Silesia (Upper and Lower), Pomerania, West Prussia-Posen, and East Prussia respectively. Possible boundary changes between states continue to be debated in Germany, in contrast to how there are "significant differences among

6006-473: The grounds that Article 29 had made the new delimitation of the federal territory an exclusively federal matter. At the same time, the Court reaffirmed the requirement for a territorial revision as a binding order to the relevant constitutional bodies. The grand coalition decided to settle the 1956 petitions by setting binding deadlines for the required referendums. The referendums in Lower Saxony and Rhineland-Palatinate were to be held by 31 March 1975, and

6097-470: The group, provides assistance to German small and medium enterprises (SMEs) including individual entrepreneurs and start-ups. In addition to loans it also provides equity and mezzanine financing . Its financing totaled €20.4 billion in 2015. KfW has been very active in securitization before this market collapsed during the subprime mortgage crisis . Through securitization it helped commercial banks to transfer risks from their housing and SME portfolios to

6188-583: The largest business unit of the group, committed € 47.6 billion in 2014, mostly for housing and environmental protection in Germany. It is especially active in promoting energy-efficient housing for owner-occupied houses as well as for landlords, both for new houses and refurbishments. Its energy efficiency standards for houses (KfW-60 and KfW-40) have become accepted standards in Germany. Concerning environmental protection, it promotes, among others, photovoltaic energy ( solar cells ) which has in turn received massive indirect subsidies through feed-in tariffs under

6279-399: The necessary majority vote in Brandenburg, while a majority of Berliners voted in favour. Federalism is one of the entrenched constitutional principles of Germany . According to the German constitution , some topics, such as foreign affairs and defence, are the exclusive responsibility of the federation (i.e., the federal level), while others fall under the shared authority of the states and

6370-428: The northeast consisting of Schleswig-Holstein, Hamburg and the northern part of Lower Saxony (from Cuxhaven to Lüchow-Dannenberg ) and one in the northwest consisting of Bremen and the rest of Lower Saxony (solution B). In the center and southwest, one alternative was that Rhineland-Palatinate (with the exception of the Germersheim district but including the Rhine-Neckar region) should be merged with Hesse and

6461-426: The other thirteen states are called Flächenländer ("area states") and include Bavaria , Saxony , and Thuringia , which describe themselves as Freistaaten ("free states"). The Federal Republic of Germany ("West Germany") was created in 1949 through the unification of the three western zones previously under American, British, and French administration in the aftermath of World War II . Initially,

6552-482: The percentages of those eligible who voted in favour): The votes in Lower Saxony were successful as both proposals were supported by more than 25% of eligible voters. The Bundestag, however, decided that both Oldenburg and Schaumburg-Lippe should remain part of Lower Saxony. The justification was that a reconstitution of the two former states would contradict the objectives of paragraph 1 of article 29 of

6643-629: The positions alternating annually between them. Currently, the chairman is Christian Lindner , Federal Minister of Finance . In 2009, Caisse des Dépots , Cassa Depositi e Prestiti , KfW and European Investment Bank founded the Long-Term Investors Club . KfW banking group covers over 90% of its borrowing needs in the capital markets , mainly through bonds that are guaranteed by the federal government. This allows KfW to raise funds at advantageous conditions. Its exemption from having to pay corporate taxes due to its legal status as

6734-407: The pre-War states remained: Baden (in part), Bavaria (reduced in size), Bremen, Hamburg, Hesse (enlarged), Saxony, and Thuringia. The states with hyphenated names, such as Rhineland-Palatinate, North Rhine-Westphalia, and Saxony-Anhalt, owed their existence to the occupation powers and were created out of mergers of former Prussian provinces and smaller states. Former German territory that lay east of

6825-478: The principles of republican, democratic, and social government, based on the rule of law" (Article 28). Most of the states are governed by a cabinet led by a Ministerpräsident (minister-president), together with a unicameral legislative body known as the Landtag (State Diet ). The states are parliamentary republics and the relationship between their legislative and executive branches mirrors that of

6916-420: The provisions of Article 29, by agreement between the Länder concerned. If no agreement is reached, the revision shall be effected by a federal law, which shall provide for an advisory referendum." Since no agreement was reached, a referendum was held on 9 December 1951 in four different voting districts, three of which approved the merger ( South Baden refused but was overruled, as the result of total votes

7007-467: The provisions of Article 29, by agreement between the two Länder with the participation of their inhabitants who are entitled to vote". A state treaty between Berlin and Brandenburg was approved in both parliaments with the necessary two-thirds majority, but in a popular referendum of 5 May 1996, about 63% voted against the merger. The German states can conclude treaties with foreign countries in matters within their own sphere of competence and with

7098-639: The public support of Federal German Chancellor Konrad Adenauer for the plan. The rejection of the plan by the Saarlanders was interpreted as support for the Saar to join the Federal Republic of Germany. On 27 October 1956, the Saar Treaty established that Saarland should be allowed to join Germany, as provided by the German constitution. Saarland became part of Germany effective 1 January 1957. The Franco-Saarlander currency union ended on 6 July 1959, when

7189-483: The referendum in Baden was to be held by 30 June 1970. The threshold for a successful vote was set at one-quarter of those entitled to vote in Bundestag elections. Paragraph 4 stated that the vote should be disregarded if it contradicted the objectives of paragraph 1. In his investiture address, given on 28 October 1969 in Bonn, Chancellor Willy Brandt proposed that the government would consider Article 29 of

7280-550: The same status as West Berlin – was declared East Germany's capital and its 15th district. The debate on territorial revision restarted shortly before German reunification . While academics (Rutz and others) and politicians (Gobrecht) suggested introducing only two, three, or four states in East Germany, legislation reconstituted the East German states in an arrangement similar to that which they had had before 1952, as

7371-451: The sectors of power, telecommunications, transport and heavy industry KfW According to the OECD , Germany’s total official development assistance (ODA) (USD 35 billion, preliminary data) increased in 2022 due to an increase in in-donor refugee costs and increased contributions to international organisations. It represented 0.83% of gross national income (GNI). KfW is owned by

7462-462: The state's government. Like in other parliamentary systems, the legislature can dismiss or replace the minister-president after a successful no-confidence vote . The governments in Berlin , Bremen and Hamburg are referred to as " senates ". In the free states of Bavaria and Saxony , the government is referred to as "state government" (Staatsregierung) ; and in the other states, the government

7553-488: The states of the Federal Republic were Baden (until 1952), Bavaria (in German: Bayern ), Bremen , Hamburg , Hesse ( Hessen ), Lower Saxony ( Niedersachsen ), North Rhine-Westphalia ( Nordrhein-Westfalen ), Rhineland-Palatinate ( Rheinland-Pfalz ), Schleswig-Holstein , Württemberg-Baden (until 1952), and Württemberg-Hohenzollern (until 1952). West Berlin , while still under occupation by

7644-481: The territory of the former German Democratic Republic ( East Germany ) became part of the Federal Republic, by accession of the re-established eastern states of Brandenburg , Mecklenburg-West Pomerania ( Mecklenburg-Vorpommern ), Saxony ( Sachsen ), Saxony-Anhalt ( Sachsen-Anhalt ), and Thuringia ( Thüringen ), and the reunification of West and East Berlin into a city state. A referendum in 1996 to merge Berlin with surrounding Brandenburg failed to reach

7735-484: The three western military governors approved the Basic Law but suspended Article 29 until such time as a peace treaty should be concluded. Only the special arrangement for the southwest under Article 118 could enter into force. Upon its founding in 1949, West Germany thus had eleven states. These were reduced to nine in 1952 when three south-western states ( South Baden , Württemberg-Hohenzollern , and Württemberg-Baden ) merged to form Baden-Württemberg . From 1957, when

7826-605: The time. The bank subsequently fired two board members over the transfer. Due to a glitch in the bank's information technology, KfW again accidentally transferred 7.6 billion euros ($ 8.2 billion) to four other banks in February 2017 but got the money back, incurring costs of 25,000 euros. States of Germany The Federal Republic of Germany , as a federal state , consists of sixteen states . Berlin , Hamburg and Bremen (with its seaport exclave , Bremerhaven ) are called Stadtstaaten (" city-states "), while

7917-423: The wishes of the majority of Baden's population. The two Palatine petitions (for a reintegration into Bavaria and integration into Baden-Württemberg) failed with 7.6% and 9.3%. Further requests for petitions (Lübeck, Geesthacht, Lindau, Achberg, and 62 Hessian communities) had already been rejected as inadmissible by the Federal Minister of the Interior or were withdrawn as in the case of Lindau. The rejection

8008-542: The work of KfW Development Bank is called "financial cooperation" which is complemented by "technical cooperation" by GIZ and other public agencies. The main sectors of financial cooperation are water supply and sanitation, renewable energy and energy efficiency, as well as the development of the financial sector. KfW Development Bank also works, among other sectors, in health, education, agriculture, forestry, solid waste management. It provided €7.4 billion in loans and grants in 2014. The largest subsidiary of KfW banking group

8099-415: Was based on long-term foreign currency ratings from Fitch Ratings and Standard and Poor's and the long-term bank deposit ratings from Moody's Investors Service . In September 2008, as investors were scrambling to get their funds out of Lehman Brothers , KfW accidentally wired €320 million ($ 426 million) to Lehman; Germany's largest circulation newspaper, Bild , called KfW "Germany's Dumbest Bank" at

8190-609: Was confirmed by the Federal Constitutional Court in the case of Lübeck. In the Paris Agreements of 23 October 1954, France offered to establish an independent "Saarland", under the auspices of the Western European Union (WEU), but on 23 October 1955 in the Saar Statute referendum the Saar electorate rejected this plan by 67.7% to 32.3% (out of a 96.5% turnout: 423,434 against, 201,975 for) despite

8281-411: Was decisive). On 25 April 1952, the three former states merged to form Baden-Württemberg. With the Paris Agreements in 1954, West Germany regained (limited) sovereignty. This triggered the start of the one-year period as set in paragraph 2 of Article 29. As a consequence, eight petitions for referendums were launched, six of which were successful: The last petition was originally rejected by

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