FRANKFURT (dpa-AFX) – For the second year in a row, Germany’s Economic Stabilization Fund (WSF), established during the coronavirus crisis, has reported an annual surplus. According to the Federal Finance Agency in Frankfurt, the fund closed its books at the end of December 2024 with a profit of €90.4 million. Federal debt managers attributed the positive result in part to interest income. The previous year, the fund had recorded a profit of €109.7 million. The WSF also ended 2021 with a surplus.
The fund was set up by the federal government in the spring of 2020, shortly after the outbreak of the pandemic. Initially, up to €600 billion was earmarked to support large companies facing hardship due to the coronavirus crisis. When the WSF was extended, its total volume was adjusted to €250 billion as of January 1, 2022. Among the companies that received support from the fund were Lufthansa and travel group Tui.
Majority of Billions in Aid Repaid
The WSF was originally scheduled to expire at the end of 2021, but, following an extension, the fund was able to provide stabilization measures until June 30, 2022. A total of 25 companies were promised aid amounting to just over €9.6 billion. Of this, €6.4 billion was actually disbursed, and €4.6 billion had been repaid by the most recent reporting date.
In addition to direct and indirect investments, the fund’s instruments also included the refinancing of loans through the state-owned KfW development bank. Between November 2022 and December 2023, the WSF was also used to finance measures aimed at mitigating the effects of the energy crisis.
