NRW.BANK is the state development bank for North Rhine-Westphalia (NRW). Its mission is to support its owner - the state of North Rhine-Westphalia - in the completion of its structural and economic policy tasks.
Details of the tasks
NRW.BANK is the state development bank of North Rhine-Westphalia. Its mission is to support its owner – the state of North Rhine-Westphalia – in the completion of its structural and economic policy tasks. In its three fields of promotion “Economic Development”, “Housing Promotion” and “Infrastructure/Municipal Promotion”, NRW.BANK uses a wide range of promotion tools – from low-interest promotion loans to equity financing to advisory services. It cooperates with all banks and savings banks based in NRW on a competition-neutral basis.
The clients of NRW.BANK benefit from favourable conditions as well as from long maturities and fixed interest periods. The Bank secures access to promotion loans through optional liability releases for on-lending house banks.
NRW.BANK takes into account the existing offers by the Federal Government, the North Rhine-Westphalian government and the European Union in the arrangement of its promotion.
Owner, liability and tax exemption
The state of North Rhine-Westphalia is the sole owner of NRW.BANK.
Both institutional liability (“Anstaltslast”) and guarantor liability (“Gewährträgerhaftung”) for the Bank rest with the state of North Rhine-Westphalia in its capacity as the owner of NRW.BANK. In addition, the state of NRW has granted a statutory, direct and irrevocable funding guarantee for the funds the Bank has raised in the past and will raise in future. As the development bank for North Rhine-Westphalia, NRW.BANK is exempt from German income tax.
The “Gesetz über die NRW.BANK” (Act on NRW.BANK) dated March 16, 2004 forms the legal foundation for the Bank.