Welcome to our SDG series: SDG 8 – Decent work & economic growth

KfW, the German government-owned development bank, contributes to Sustainable Development Goal 8 (SDG 8) – Decent work and economic growth. KfW knows that just focusing on economic growth is not enough for a better world. They believe in balanced growth that includes economic, social, and environmental improvements.

KfW aims to improve the employment situation for millions worldwide by providing job programs, small business loans, and developing infrastructure like roads and railways, creating employment opportunities. This infrastructure not only employs locals but also attracts more companies, further boosting job prospects and stimulating the local economy. KfW ensures fair working conditions in all supported projects, adhering to global standards.

Moreover, KfW supports local banks and small to medium-sized enterprises (SMEs) to offer crucial financial services like loans and insurance. Despite SMEs being vital for creating jobs and a country’s income, they often struggle to access these services. KfW intervenes by facilitating savings accounts, microloans, insurance, and supporting electronic payment systems like Ghana’s e-zwich.

Additionally, KfW extends direct financial support through specialized funds. Some funds concentrate on promoting social entrepreneurship (e.g., Aavishkaar Frontier Fund in Asia), while others specifically aid mid-sized companies, small businesses, or startups, like the Partech Fund, providing initial funding for emerging technology companies in Africa.

KfW’s commitment to SDG 8 drives their efforts towards balanced growth, ensuring economic, social, and environmental improvements.

Stay tuned for next week, where we will share a brand new company that contributes to SDG 9.