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GTZ and KfW both report record results
Both the German Technical Cooperation (GTZ) and KfW Entwicklungsbank have reported record results for last year. GTZ revenues rose to nearly € 918 million – 4.8 % more than in 2005. € 769 million of this turnover related to activities in the not-for-profit sector, which increased by 11 %. The sharpest year-on-year upturn, however, was noted in so-called cofinancing-projects undertaken for the Federal Development Ministry (BMZ) in conjunction with other donors. This area of activity grew by 29 % last year, the largest cofinancer being the United Nations refugee agency UNHCR. KfW Entwicklungsbank and its finance and consulting affiliate DEG reported commitments up by a third last year at around € 3.4 billion. € 2.5 billion of this related to KfW and € 0.9 billion to DEG, which promotes private enterprise in developing countries. According to KfW, the steep rise in commitments is mostly due to greater use of KfW funds in the BMZ fund mix. 41 % or € 1 billion of KfW commitments last year came from funds raised by KfW banking group on the capital market. (ell)