A lofty mission was given to KfW in 1948 when the German government launched the bank as part of the Marshall Plan.
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By issuing long-term, low-interest loans, KfW - whose full German name can be translated as "Reconstruction Credit Institute" - helped kick-start the economy and put a defeated nation back on its feet.
Half a century later, the bank has taken on a more modern task - climate change.
KfW is the financial muscle behind plans to bring huge solar plants to Brazil, India and even Abu Dhabi. Last week it said it would provide €100 billion (Dh494bn) in loans to spur Germany's transition away from nuclear and coal and towards renewable energy.
One of its biggest success stories in green financing could provide lessons for Abu Dhabi, and it begins on the roofs of German homes.
In 1999 the German government embarked on an outlandish plan- to put solar panels on 100,000 rooftops.
Germany backed the programme partly through feed-in tariffs, where the government puts renewables in the same price bracket as fossil fuels by requiring the power companies to take it on to their grids. That enables homeowners to sell their excess power. The feed-in tariffs are well-known, and have been replicated as far as China and Algeria.
Lesser known were the low-interest loans from KfW for homeowners to buy and install the panels. They then had 10 years to pay back the loans.
The programme was so popular that one year in, Germany had a backlog of 10,000 applications and had to put it on hold for three months, according to Wired magazine.
The German financing mechanism could provide a model for Abu Dhabi, which hopes to cover its own rooftops with the blue-hued panels.
The plan for 500 megawatts of solar rooftop power is part of the emirate's plan to source 7 per cent of its electricity from renewables in the next nine years.
Plans floated last year by Masdar, the government-owned company unofficially charged with carrying out the emirate's clean energy goals, called for a feed-in tariff and a rebate for installation costs, rather than a loan.
The government has yet to announce its strategy for achieving its renewables target, including if it will offer a feed-in tariff.
ayee@thenational.ae
PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
Dubai World Cup Carnival Card:
6.30pm: Handicap US$135,000 (Turf) 1,200m
7.05pm: Handicap $135,000 (Dirt) 1,200m
7.40pm: Zabeel Turf Listed $175,000 (T) 2,000m
8.15pm: Cape Verdi Group Two $250,000 (T) 1,600m
8.50pm: Handicap $135,000 (D) 1,600m
9.25pm: Handicap $175,000 (T) 1,600m
MATCH INFO
RB Leipzig 2 (Klostermann 24', Schick 68')
Hertha Berlin 2 (Grujic 9', Piatek 82' pen)
Man of the match Matheus Cunha (Hertha Berlin
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WHY%20AAYAN%20IS%20'PERFECT%20EXAMPLE'
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Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now