What are the most significant cases or transactions that your legal team has recently been involved in?

Since 2020 the legal team has been continuously involved in KfW’s contribution to solving the recent crises and political developments. Starting with KfW’s special programme to help in the pandemic, which accumulated more than EUR €45 bn in loans, KfW plays a central role in helping to finance today’s enormous challenges concerning climate change, energy efficiency, digitisation and innovation and in providing a special programme for financial needs resulting from the war in Ukraine. Moreover, on behalf of the federal government, KfW is involved in financing the energy industry in that context which alone led to loans of more than EUR €30 bn in the first two-quarters of 2022 and equity transactions. KfW’s legal team has been deeply involved in all that and provided the necessary legal solutions and guidance with a tremendous effort – with all this happening in addition to KfW’s everyday business.

How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

In KfW, the work for the in-house counsel has piled up and intensified to an enormous extent. Not only due to the complexity resulting from recent legislative development — among other things concerning ESG and sanctions — but also thanks to our active role and our willingness to be close to the business and to take responsibility, KfW’s legal team has a chair at all relevant tables and takes part in all appropriate decisions. That also applies to the general counsel. Looking at ways of working, KfW’s in-house counsel gained significant flexibility by working at home, in the office or hybrid and with additional tools – for sure a new and lasting way of working.