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Updated: Nov 20, 2025

Author Spotlight: Advancing Coral Culture - Creating a Semi-Quantitatively Controlled Microenvironment System to Counter Current Limitations
Published on: July 21, 2023
[Municipal Finance in the Corona Crisis - Cuts, but not a Turnaround]
Stephan Brand1, Johannes Steinbrecher1
1KfW Research, Abtl. Volkswirtschaft, KfW Bankengruppe, Palmengartenstr. 5-9, 60325 Frankfurt am Main, Deutschland.
Abstract:
Over the last few years, the role of municipal loans for financing investment in Germany has been quite stable. Major changes have not been observed on either the demand or the supply side. The economic consequences of the Coronavirus pandemic could now create unexpected stress for both sides of the market. Even if the consequences of the crisis cannot yet be fully assessed, debt sustainability of municipalities has improved in the pre-crisis period creating financial leeway. Thus, municipal loans are likely to continue to play an important role in the financing of municipal investments in the years to come.
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