The new investments were aimed at contributing to peace and reducing the reasons for people becoming refugees. (picture alliance/Frank Rumpenhorst/dpa/archive)
The KfW Development Bank, a German state-run banking group, invested a record 9.7 billion euros (11.3 billion dollars) in projects in developing and emerging countries last year, up from 8.8 billion euros in 2016.
A total of 40 percent of the new investments went to Africa and the Middle East, the bank said on Wednesday from its Frankfurt headquarters.
The bank said its investments were aimed at contributing to peace and reducing the reasons for people becoming refugees.
KfW says it has 117 projects in 28 countries that directly involve refugees, reaching 11 million of them.
In addition to funds from the German government, the bank invested 4.9 billion euros of its own financing last year.
Through its subsidiary, DEG, the bank also financed private companies to the value of 1.6 billion euros, it said on Wednesday. Half of that amount went to small and medium-sized enterprises in developing countries.
German firms working abroad received 436 million euros in investments.
For the coming year, the bank said it plans to invest more heavily in digital companies.
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