WHAT IS THE KFW?

The KfW, or German Credit Agency for Reconstruction, was set up in 1948 to help rebuild Germany's battered post-war economy.

Its mandate is to promote sustainable development and in 2021 it provided 107 billion euros in funds, with about a third going into climate and environmental protection.

Headquartered in Frankfurt, Germany's financial capital, it has a staff of more than 7,700 and branch offices in numerous centres globally.

Its current CEO is Stefan Wintels, who joined from Citigroup in 2021 and previously worked at Deutsche Bank.

WHAT'S THE KFW'S ROLE IN GERMANY'S ENERGY CRISIS?

As of end-January, the KfW had committed 42.4 billion euros to support the energy sector, 45% of that to buy gas to fill Germany's storage caverns and 19% of it to replace Russian gas volumes.

It has provided loans to German utilities to cover margin calls as well as billions of euros in credit lines to Uniper and Sefe, formerly known as Gazprom Germania, both of which have been nationalised.

On Friday, Uniper said KfW had replaced its current credit line with a 16.5 billion euro ($17.5 billion) facility that runs until 2026.

Sources have told Reuters that KfW will likely also become a shareholder in EnBW's high-voltage power grid TransnetBW and could be the vehicle Berlin uses to take over the German division of Dutch grid operator Tennet.

DOES KFW ALREADY OWN ENERGY ASSETS?

Yes. In 2018, it bought a 20% stake in German grid operator 50Hertz, which is majority-owned by Belgium's Elia, in what sources at the time said was a move to prevent China's State Grid from becoming a shareholder.

It has also pledged to take a 50% stake in a planned fixed terminal to import liquefied natural gas in the German port of Brunsbuettel, with Dutch firm Gasunie holding 40% and Germany's RWE holding 10%.

WHO CONTROLS THE KFW?

The KfW is controlled by the Finance Ministry in consultation with the Economy Ministry.

Finance Minister Christian Lindner and Economy Minister Robert Habeck, tasked with Germany's energy security, are chair and co-chair of KfW's board of supervisory directors.

($1 = 0.9406 euros)

(Reporting by Christoph Steitz)

By Christoph Steitz