PowerPoint Presentation€¦ · PPT file · Web view · 2014-11-24Information & Communication Technologies. 24 January. 24.4. Atlatnitc grupa – Serbia. Agribusiness. 10 February

EBRD – Guarantee Schemes

Novi Sad, 20 November 2014

7 May 2023 © European Bank for Reconstruction and Development 2012

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Contents

• EBRD’s activities• EBRD in Serbia• Guarantee Schemes• Medium-Sized Co-financing Facility (MCFF)• Contact

What is the EBRD?

7 May 2023 © European Bank for Reconstruction and Development 2012 3

• Triple-A rated international financial institution, promotes transition to market economies in 35 countries from central Europe to central Asia

• In 2011, the Bank expanded its operations to include Egypt, Morocco, Tunisia, and Jordan (Southern and Eastern Mediterranean – SEMED region)

• Owned by 64 countries and two inter-governmental institutions

• Capital base of €30 billion

EBRD’s activities EBRD in Serbia Guarantee Schemes MCFF Contact

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€ Bi

llion

Cumulative business volume of €86bn as of 2013

EBRD finances diverse range of enterprises



Note: Unaudited as at 31 December 2013

Financial Institutions30%

Power and Energy16%

Transport14%Agribusiness

11%

Manufacturing and Services

11%

Natural Resources7%

Municipal & Env Inf7%

Equity Funds4%

Where we invest



EBRD Product Flexibility tailored to project needs



Equity• Common stock or preferred • Minority position only (up to 35

percent)• Mezzanine• Other• guarantees• currency swaps

Loans• Senior, subordinated,

convertible• LT (up to 10y or more) or

ST revolving• Floating/ Fixed rates• Choice of currencies

(€, US$, RUB etc.)

General Information


• Country of operation since 2001.• Total cumulative commitments of €3.8 billion as of October 2014.• Total outstanding portfolio of €2.5 billion, comprised of 130 active

operations.• Private sector participates with 54 per cent in total cumulative

commitments but with 84 per cent in total projects.• Team of 26 people in Resident Office in Belgrade.• Objectives: To promote a sound investment climate, good corporate

governance and stronger institutions.


Cumulative Commitments Composition(value)


Total cummulative comitments: €3.8 billion


Cumulative Commitments Composition(number of projects)


Cummulative number of projects: 182


2013 results: €424 million in 24 projects


Project name Industry Signed € millionAgri Europe (f.MK Equity) Agribusiness 05 July 2013 50.0Axereal - Debt Agribusiness 21 June 2013 7.0Serbia WHR - Credit Agricole Funded Agribusiness 31 May 2013 7.0Mid Europa Fund IV Equity Funds 27 Sept 2013 8.03TS CEE Fund III Equity Funds 31 May 2013 1.8Earlybird Digital East Fund Equity Funds 06 Nov 2013 0.5Unicredit Leasing Serbia II Financial Institutions 17 May 2013 15.0Intesa Leasing Serbia Financial Institutions 20 Dec 2013 10.0Societe Generale Leasing Serbia - SME Credit Line Financial Institutions 17 Dec 2013 10.0Société Générale Serbia Partnership for Growth Loan Financial Institutions 28 Aug 2013 50.0UCB Serbia - SME Credit Line Financial Institutions 17 May 2013 15.0European Fund for Southeast Europe (EFSE) III Financial Institutions 14 Nov 2013 5.5WeBSEFF II: Banca Intesa Belgrade Financial Institutions 18 Dec 2013 6.0PSSF - Societe Generale Banka Srbija SME Competitiveness

Financial Institutions 22 July 2013 5.0

Vojvodjanska Banka - Cross Currency Swap Financial Institutions 31 Oct 2013 4.0Regional TFP: Eurobank EFG a.d. Belgrade Financial Institutions 14 Feb 2011 1.5Regional TFP: Eurobank EFG a.d. Belgrade Financial Institutions 07 Oct 2013 1.0Draexlmaier Group Manufacturing & Services 20 Dec 2013 5.0LEF: Forma Ideale Furniture Manufacturing & Services 05 July 2013 2.0Belgrade Bus Renewal Programme Municipal & Env Inf 30 Jan 2013 65.0Belgrade Public Transport and Traffic Infrastructure Municipal & Env Inf 05 July 2013 30.0Municipal Infrastructure Development Fund Agri Europe (f.MK Equity) 01 Nov 2013 12.0Zemun Retail Park Property and Tourism 06 Feb 2013 11.3Europolis Restructuring - Equity Property and Tourism 28 June 2013 0.6Europolis Restructuring - Loan Property and Tourism 25 June 2013 0.5Road Rehabilitation and Safety Project Transport 27 Nov 2013 100.0

TOTAL: 423.7


2014 YTD results: €340 million in 14 projects


Project name Industry Signed € millionEurobank EFG Belgrade Financial institutions 15 January 5.0Project Media Information & Communication

Technologies24 January 24.4

Atlatnitc grupa – Serbia Agribusiness 10 February 5.0Accession Mezzanine Capital III Equity funds 24 April 1.5Axereal - Equity Agribusiness 28 April 2.5UCB Serbia - SME Credit Line Financial institutions 16 June 15.0UCBSerbia - Mortgage Loan Financial institutions 25 June 5.0UCB Serbia - SME Credit Line Financial institutions 25 June 20.0Intesa Leasing Serbia Financial institutions 11 August 5.0Nectar Regional Agribusiness 29 August 18.0Societe Generale Leasing Serbia - SME Credit Line Financial institutions 03 September 10.0Digital Switchover Information & Communication

Technologies19 September 24.0

Victoria Group Working Capital Agribusiness 15 October 5.0The Deposit Insurance Agency of Serbia Financial institutions 23 October 200.0

TOTAL: 340.4


Guarantee Schemes - Rationale


• Guarantee schemes can support credit growth via:• Allowing local Partner Banks (“PBs”) to finance specific segments or borrowers for

which internal risk limits have been reached.• Capital relief: EBRD’s risk participation for part of the loan amount is designed to

allow the PB to achieve capital relief for the share of the loan that EBRD is at risk for. Hence PBs can use extra capital to expand lending.

• EBRD would require PBs to apply EBRD environmental and integrity assessment standards with regards to sub-loans.


Guarantee Schemes - Products


• Risk sharing on portfolio basis• EBRD guarantees to PBs X% of certain portfolio, e.g. SMEs or mortgages, in return

EBRD receives a risk compensation fee specific to the transaction.

• Risk sharing of specific exposures• Medium-Sized Co-financing Facility (MCFF), provides risk sharing on a funded and

unfunded basis.• EBRD’s guarantee for the non-recourse portion would be irrevocable and

unconditional.• MCFF in use in the following countries: Macedonia, Moldova, Turkey, Albania,

Azerbaijan, Armenia, Georgia, Kyrgyz Republic, Mongolia and Tajikistan.


MCFF



• MCFF is a Co-Financing facility between EBRD and PBs• EBRD and PB can provide sub-loans to medium-sized companies of up to EUR 20

million and up to 10 years.• EBRD shares up to 50% of risk in the sub-loan (which can increase up to 100% in

exceptional cases). EBRD’s share cannot be below EUR 500.000.

• EBRD’s risk participation in MCFF can be funded or unfunded• MCFF Funded: • EBRD’s funded risk participation up to 50%.

• MCFF Unfunded: • EBRD’s unfunded risk participation up to 50% (“non-recourse portion”), i.e. EBRD

guarantee to PB covering 50% of PB loan exposure to Sub-borrower.

MCFF



• Facility size: EUR 385 million • Currency: Euro (local currency is also an option, but pricing for

Serbia is likely to be too high).• Sub-borrowers: majority privately owned local companies with good

credit history, clean integrity background and strong financial performance.

• Sub-loans: mostly for capital expenditure purposes, as well as working capital needs. EBRD can also finance / guarantee existing exposures.

Primary Contacts

EBRD’s activities EBRD in Serbia Guarantee Schemes Selected Investments Contact

European Bank for Reconstruction and DevelopmentBlue Center, Španskih boraca 3

11070 BelgradeSerbia

Tel: +381 11 21 20 530Fax: +381 11 21 20 534

Aleksandra Vukosavljevic, Principal Banker

Tel: (+381) 11 21 20 638 Email: [email protected]

Johannes Busse, Associate Banker

Tel: (+381) 11 21 20 534 Email: [email protected]

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mailto:[email protected]

mailto:[email protected]

Documents

PowerPoint Presentation€¦ · PPT file · Web view · 2014-11-24Information & Communication Technologies. 24 January. 24.4. Atlatnitc grupa – Serbia. Agribusiness. 10 February