German bank KfW is looking at opening a subsidiary in Romania, in order to finance major infrastructure and renewable energy projects in the country, according to the Romanian Economy Ministry. The ministry's representatives have recenlty met bank officials in Berlin and talked about the plans for Romania.

KfW (Kreditanstalt fur Wiederaufbau) is a group of banks created in 1949, when the aim was Germany's reconstruction and the coordination of the Marshall plan financings. The German federal government owns 80 percent of the bank's shares, and the rest is owned by the district governments.

Internationally, the bank finances large and medium-size companies conducting international businesses, with the value of commitments reaching EUR 8.9 billion, according to its data. In its funding operations, KfW Bankengruppe raised a total of EUR 76.4 billion on the international capital markets in 2010.

Romanian Economy Minister Ion Ariton, who has talked to the bank representatives in Berlin, has also visited the Daimler engine factory and discussed the possibility to expand Daimler's investments in Romania. Daimler owns a car parts factory in Romania, at Cugir, where it produces components for change gears.

editor@romania-insider.com