The KfW, formerly KfW Bankengruppe , is a German government-owned development bank, based in Frankfurt. Its name originally comes from Kreditanstalt für Wiederaufbau . It was formed in 1948 after World War II as part of the Marshall Plan.It is owned by the Federal Republic of Germany and the States of Germany . It is led by a five-member Managing Board headed by Ulrich Schröder, which in turn reports to a 37-member Supervisory Board. The chair of the Supervisory Board changes annually between the German Federal Ministers of Finance and Economic Affairs; the chairman for 2014 is Sigmar Gabriel. Wikipedia.
News Article | May 5, 2017
Frankfurt am Main, 05-May-2017 — /EuropaWire/ — The application phase has now begun for this year’s “Start-up champions” KfW award, which boasts a total prize fund of EUR 35,000. With its renowned competition, the KfW Group honours young companies from all over Germany and gives their business concepts the public recognition they deserve. “With the ‘Start-up champions’ award, we intend to reward new entrepreneurs for all the hard work they put in and the courage it took them to turn an idea into a successful business. At the same time, we want to showcase exceptional success stories that motivate others, who are perhaps still hesitant to take that brave leap into independence,” explains Dr Ingrid Hengster, Member of the Executive Board of the KfW Group. The award is presented as part of the German Business Founder and Entrepreneur Conference (Deutsche Gründer- und Unternehmertage; deGUT). A prize is awarded to one company from each of the German federal states. The company must have been founded or been taken over as part of a succession within the last five years (since 2012). Each company receives a prize money of EUR 1,000. The winners from the federal state category go on to compete for the nationwide award, which offers additional prize money of EUR 9,000. The national champion is announced on the evening of the “Start-up champions” award ceremony. All prize winners are given the opportunity to present themselves on stage in a bid to win the public’s choice award, which is decided by the audience (and coupled with an additional prize money of EUR 5,000). Of all the applicants, one company that particularly impresses the jury will be awarded a special prize worth EUR 5,000. The KfW start-up champions are selected by a jury of experienced representatives from the KfW Group and the worlds of politics and business, for example from the promotional institutions of the federal states and from chambers of industry and commerce. The jury assesses the business ideas based on their level of innovation and creativity and whether they are socially responsible. The jury also places significant emphasis on how environmentally friendly the business is and whether jobs and apprenticeships have been created or maintained. Companies from all sectors of industry can enter. The award ceremony itself will take place on 12 October 2017 at the kick-off event of the deGUT conference held at the German Federal Minister for Economic Affairs and Energy in Berlin. All competition winners will be invited to Berlin between 12 and 14 October and have their hotel and conference visit expenses paid for. What is more, one person from each of the winning companies is given the opportunity to take part in a seminar at the impulse-Akademie. The winners will also be provided with support from a PR agency on how to market their success story. Further information and the online application form for the “Start-up champion” KfW award can be found at www.kfw.de/award. Portraits of past award winners can also be found there. About KfW: As Germany’s largest promotional bank, KfW supports its customers by providing tailored financing offers. In 2016 alone, KfW made a promotional business volume totaling EUR 81.0 billion available in Germany and abroad. The promotional business volume in the SME Bank business sector totaled EUR 21.4 billion.
Moslener U.,Collaborating Center for Climate and Sustainable Energy Finance |
Journal of Cleaner Production | Year: 2013
This paper analyzes financial, informational and organizational barriers to energy efficiency investments for small-and medium-sized enterprises (SMEs) in China. Its findings are based on a survey of 480 SMEs in Zhejiang province, and complemented by semi-structured interviews with enterprises contained in the survey sample. Responses reveal that only a minority of SMEs in China actively perform energy saving activities at a significant level. The survey data suggest, further, that informational barriers are the core bottleneck inhibiting energy efficiency improvements in China's SME sector. Financial and organizational barriers also influence a company's energy saving activities, with interview-based evidence stronger than statistical evidence. The interviews point out three additional barriers to energy saving activities: The role of family ownership structures, lax enforcement of government regulations and the absence of government support as well as a lack of skilled labor. More than 40% of enterprises in the sample declared themselves unaware of energy saving equipment or practices in their respective business area, indicating that there are high transaction costs for SMEs to gather, assess, and apply information about energy saving potentials and relevant technologies. One policy implication of the study is that the Chinese government could play a more active role in fostering the dissemination of energy-efficiency related information in the SME sector.
Bouzarovski S.,University of Birmingham |
Petrova S.,University of Birmingham |
Energy Policy | Year: 2012
Once confined to the UK context - where it was struggling to receive political recognition for years - the concept of energy (or fuel) poverty is slowly entering the EU's agenda, where it has crept into a number of regulatory documents and policy proposals. Using evidence gathered from an international workshop and semi-structured interviews with decision-makers, experts and advocacy activists in Brussels and Sofia, this paper explores the adoption of policies aimed at addressing energy poverty within (i) the organisational context of the EU; and (ii) national state institutions in Bulgaria - a member state facing considerable problems at the energy affordability - social inequality nexus. While the former are largely nascent and poorly co-ordinated, the latter have already been implemented de jure to a significant extent. However, many unresolved issues surrounding their de facto implementation remain. At the same time, national policy makers remain largely unaware of the existence of direct energy poverty related initiatives at the EU level. © 2012 Elsevier Ltd.
Weber R.,Rural University |
Weber R.,KFW |
Fecke W.,Rural University |
Moeller I.,Rural University |
Musshoff O.,Rural University
Agricultural Finance Review | Year: 2015
Purpose – Using cotton yield, and rainfall data from Tajikistan, the purpose of this paper is to investigate the magnitude of weather induced revenue losses in cotton production. Hereby the authors look at different risk aggregation levels across political regions (meso-level). The authors then design weather index insurance products able to compensate revenue losses identified and analyze their risk reduction potential. Design/methodology/approach – The authors design different weather insurance products based on put-options on a cumulated precipitation index. The insurance products are modeled for different inter-regional and intra-regional risk aggregation and risk coverage scenarios. In this attempt the authors deal with the common problem of developing countries in which yield data is often only available on an aggregate level, and weather data is only accessible for a low number of weather stations. Findings – The authors find that it is feasible to design index-based weather insurance products on the meso-level with a considerable risk reduction potential against weather-induced revenue losses in cotton production. Furthermore, the authors find that risk reduction potential increases on the national level the more subregions are considered for the insurance product design. Moreover, risk reduction potential increases if the index insurance product applied is designed to compensate extreme weather events. Practical implications – The findings suggest that index-based weather insurance products bear a large risk mitigation potential on an aggregate level. Hence, meso-level insurance should be recognized by institutions with a regional exposure to cost-related weather risks as part of their riskmanagement strategy. Originality/value – The authors are the first to investigate the potential of weather index insurance for different risk aggregation levels in developing countries. © Emerald Group Publishing Limited.
Loschel A.,Center for European Economic Research Mannheim |
Moslener U.,KFW |
Rubbelke D.T.G.,CICERO Center for International Climate and Environmental Research
Energy Policy | Year: 2010
Energy security has become a popular catch phrase, both in the scientific arena as well as in the political discussion. Yet, in general the applied concepts of energy security are rather vague. This paper sheds some light on concepts and indicators of energy security. First, we conceptually discuss the issue of energy supply security and explain why it is not to handle by one science alone and what economics may contribute in order to structure the topic. After providing a brief survey of existing attempts to define or measure energy security we suggest an additional dimension along which indicators of energy security may be classified: ex-post and ex-ante indicators. Finally, we illustrate our concept on the basis of several simplified indicators. While ex-post indicators are mostly based on price developments, ex-ante indicators are to a greater extent aimed at illustrating potential problems. Our illustration suggests that it is worthwhile to take into account the market structure along with the political stability of exporting countries. © 2009 Elsevier Ltd. All rights reserved.
Weber R.,Rural University |
Weber R.,KFW |
Musshoff O.,Rural University
Agricultural Finance Review | Year: 2012
Purpose – Using a unique dataset of a commercial microfinance institution (MFI) in Tanzania, the purpose of this paper is to investigate first whether agricultural firms have a different probability to get a loan and whether their loans are differently volume rationed than loans to non-agricultural firms. Second, the paper analyzes whether agricultural firms repay their loans with different delinquencies than non-agricultural firms. Design/methodology/approach – The authors estimate a Probit-Model for the probability of receiving a loan, a Heckman-Model to investigate the magnitude of volume rationing for all loan applications and an OLS-Model to examine the loan delinquencies of all microloans disbursed by the MFI. Findings – The results reveal that agricultural firms face higher obstacles to get credit but as soon as they have access to credit, their loans are not differently volume rationed than those of non-agricultural firms. Furthermore, agricultural firms are less often delinquent when paying back their loans than non-agricultural firms. Research limitations/implications – Even if the authors can show that access to credit and loan repayment is different for agricultural firms, the current regional focus of the MFI only allows for lending to agricultural firms in the greater Dar es Salaam area. Thus, these results might change in a rural setting. Besides general differences of the rural economic environment, the production type of agricultural firms might also differ in rural areas. Also, these results might change in different country contexts. Practical implications – The findings suggest that a higher risk exposition typically attributed to agricultural production must not necessarily lead to higher credit risk. They also show that the investigated MFI overestimates the credit risk of agricultural clients and, hence, should reconsider its risk assessment practice to be able to increase lending to the agricultural sector. In addition, the results might indicate that farmers qualify less often for a loan as they do not fit into the standard microcredit product. Originality/value – To the authors’ knowledge, this is the first paper which simultaneously investigates access to credit and the repayment behavior of agricultural firms. © Emerald Group Publishing Limited
News Article | November 24, 2016
LONDON--(BUSINESS WIRE)--Regulatory News: Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful. Kreditanstalt fuer Wiederaufbau (KFW) Stabilisation Notice The Royal Bank of Scotland plc (contact: Rom Balax, +44 207 085 6268) hereby gives notice that no stabilisation, within the meaning of the rules under Commission Regulation (EC) No. 2273/2003 implementing the Market Abuse Directive (2003/6/EC), was undertak
News Article | March 1, 2017
BERLIN--(BUSINESS WIRE)--OMEICOS Therapeutics, a biopharmaceutical company developing first-in-class small molecule therapeutics for the prevention and treatment of cardiovascular diseases, today announced the first closing of a Series B financing round of €8.3 million and the initiation of a Phase 1 clinical trial with lead compound OMT-28 for the treatment of atrial fibrillation. The financing was led by Vesalius Biocapital II S.A. SICAR and SMS Company Group, along with existing investors KFW Group, VC Fonds Technologie Berlin, High-Tech Gründerfonds II GmbH & Co. KG (HTGF), The Falck Revocable Trust, Ascenion GmbH and members of the management team. The funding will be used to support the newly initiated clinical program and to further leverage the therapeutic potential of the technology. In addition to the financing, OMEICOS today announced the dosing of the first subject in the first-in-human clinical study for its lead candidate, OMT-28. The goal of the study is to evaluate safety, tolerability, pharmacokinetics and pharmacodynamics of single and multiple ascending doses of OMT-28 in healthy volunteers. The randomized, double-blind, placebo-controlled Phase 1 study is being conducted in a single center in Germany and aims to enroll up to 100 subjects. “The successful closing of the Series B financing round in combination with the initiation of the first clinical trial with our lead compound, OMT-28, marks the beginning of a new stage of corporate development for OMEICOS,” said Dr. Robert Fischer, CSO and co-founder of OMEICOS. “We are grateful for the ongoing support of our investors and anticipate this financing to fully fund the company throughout the duration of the Phase 1 clinical study, which will set the stage for a swift transition into a subsequent Phase 2 trial.” “We believe in the potential of OMEICOS’ distinctive small molecules to treat atrial fibrillation and other inflammatory and cardiovascular diseases,” said Vesalius Biocapital’s Dr. Christian Schneider. “We look forward to seeing progress with the Phase 1 clinical trial and are pleased to continue and strengthen our financial investment in the company.” OMEICOS’ lead compound, OMT-28, is a stable synthetic small molecule analog of the natural omega-3 fatty acid metabolite 17,18-EEQ, which has a structure optimized to provide high efficacy, safety and oral bioavailability. OMT-28 has already proven its anti-arrhythmic and cardioprotective potential in different in vivo experimental models. OMEICOS' synthetic analogs of omega-3 fatty acid epoxides are currently focused on cardiovascular diseases, although they have the potential to be applied across a wide range of diseases. More information on the trial (Eudra-CT 2016-003445-28) will be provided via the European Union Clinical Trials Register. About Atrial Fibrillation Atrial fibrillation (AF) is the most common cardiac arrhythmia in humans. More than 30 million patients are affected worldwide and this number is increasing by 2% per year due to the aging population. AF is characterized by an irregular heart rhythm originating from the heart’s upper chambers, resulting in inefficient blood pumping. AF leads to a significant reduction in quality of life, increases the risk of stroke, raises the risk of heart failure and doubles the risk of death. Marketed anti-arrhythmic drugs have limited efficacy and often severe adverse effects, which together with the huge number of affected patients accounts for a high unmet medical need for a safe and efficacious medical treatment of AF. About OMEICOS OMEICOS Therapeutics is a spin-off company from the Max Delbrueck Center for Molecular Medicine (MDC) in Berlin. The company has discovered a series of metabolically robust synthetic analogues of omega-3 fatty acid-derived epoxyeicosanoids that have the potential to treat inflammatory, cardiovascular and other diseases. Epoxyeicosanoids, as a newly described class of bioactive lipid mediators, activate cell type-specific endogenous pathways that promote organ and tissue protection. OMEICOS’ small molecules are orally available and show improved biological activity and pharmacokinetic properties compared to their natural counterparts. OMEICOS’ technology is based on ground-breaking scientific results in the field of omega-3 fatty acid metabolism and physiology obtained by the companies’ founders, Dr. Wolf-Hagen Schunck, Prof. John. R. Falck, Prof. Dominik Müller and Dr. Robert Fischer. The companies’ research activities are supported by a grant from the German Ministry of Education and Research (BMBF). www.omeicos.com
News Article | November 9, 2015
Germany’s state controlled KFW Development Bank, the French Development Agency (AFD) and the government of Uganda, signed a US$95 million agreement this week to construct the 44.7-MW Muzizi hydroelectric project on the Muzizi River in the district of Kibaale, which borders the Ndaiga and Hoima districts in western Uganda.