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Trade Facilitation Programme
Financing foreign trade with Uzbekistan
Kamola Makhmudova
Senior Banker, TFP
18 April 2018
Contents
• Introduction to EBRD and TFP
• TFP Product and Process
• Case Study
• Trade Finance Trainings and Advisory Services
• New Initiative - Compliance
Where we are
24 April, 2018 3
EBRD Trade Facilitation Programme
Annual Business Volumes 1999 – 2017
24 April, 2018 4
TFP – 1, 905 Transactions in 2017 Ranking No of Transactions by Country
1. Greece
2. Serbia
3. Ukraine
4. Cyprus
5. Belarus
6. Armenia
7. Georgia
8. Morocco
9. Turkey
10. Egypt
11. Mongolia
12. FYR Macedonia
13. Romania
14. Kyrgyz Republic
15. Bulgaria
16. Jordan
17. Moldova
18. Croatia
19. Tajikistan
20. Azerbaijan
21. Kosovo
22. Montenegro
23. Bosnia and Herzegovina
24. Tunisia
25. Turkmenistan
24 April, 2018 5
TFP - Achievements 1999-2017
• More than 21,600 foreign trade transactions, including 209
transactions with exporters and importers from Uzbekistan
• Total business volume EUR 15 billion
• 95 Issuing Banks in 27 countries
• Over 800 Confirming Banks worldwide
24 April, 2018 6
800 Confirming Banks in 77 Countries
24 April, 2018 7
EBRD TFP – Top 10 Confirming Banks
24 April, 2018
Ranked by Number of Transactions in 2017
8
1. Commerzbank
2. ING Bank
3. UNICREDIT BANK AUSTRIA
4. Citibank Europe
5. Deutsche Bank
6. BANCA POPOLARE DI SONDRIO
7. KBC Bank
8. ODDO BHF Aktiengesellschaft
9. UBS AG
10. INTESA SANPAOLO SPA
TFP – Strategy
Strong focus on:
Small- and medium-sized private banks in the CIS and south-east Europe
Early Transition Countries
New: Southern and eastern Mediterranean (Greece, Cyprus, Egypt, Jordan,
Morocco and Tunisia). New: Lebanon and the West Bank and Gaza
Intra-regional trade (= trade between the EBRD’s countries of operations)
SMEs
Co-financing with commercial banks
24 April, 2018 9
EBRD Trade Facilitation Programme (TFP)
How does it work?
24 April, 2018
EBRD supports trade by providing:
Guarantees that cover risks arising from trade finance
transactions
Short-term advances/financing to banks in the Countries of
Operation for trade finance purposes (factoring and cash
disbursement)
Trade finance training and advisory service to local banks
Trade finance networking events
10
24 April, 2018 11
TFP Product and Process
TFP: Structure and Application
Confirming Bank,
Worldwide
Seller
Application for L/C opening L/C Confirmation
EBRD issues a Stand-By
Letter of Credit covering
the risks of Issuing Bank
towards the Confirming bank
Issuing Bank,
Country of
Operations
Buyer
L/C Issuance with request to confirm
(L/G Issuance with counter-guarantee,
other banking trade finance instruments)
SALES-PURCHASE
AGREEMENT
24 April, 2018 12
TFP – Guarantee Transaction (1)
Always involves a local bank (“Issuing Bank”) which issues a trade finance instrument (e.g. a letter of credit) and a foreign bank which confirms it to the beneficiary (“Confirming Bank”)
Issued only to Confirming Bank, not to exporters or importers
The trade finance instrument (e.g. a letter of credit) ensures that the beneficiary receives payment upon or after delivery
24 April, 2018 13
TFP – Guarantee Transaction (2)
Covers all types of trade finance instruments:
• letters of credit, including deferred payment/post-financing,
• bank payment guarantees,
• bid bonds,
• performance bonds,
• advanced payment guarantees,
• standby letters of credit,
• guarantees covering a trade finance loan
EBRD Guarantee (a SBLC under UCP 600) is usually issued within 24 hours from application
24 April, 2018 14
TFP – Guarantee Transaction (3)
Cover exports, imports and distribution of imported goods in the EBRD’s countries of operations, irrespective of the country of origin (no origin rule)
Tenor: 3 years maximum
Amount: no minimum amount
EBRD Guarantee covers up to 100% of payment, political and currency risks
EBRD pays on the claim within 15 days
24 April, 2018 15
Green TFP
24 April, 2018 16
Facilitation and increase in trade of green
technologies and services in EBRD’s
countries of operations.
• Improve access to trade finance for
sustainable energy technology suppliers
and installers, often SMEs
• Create competitive markets for
sustainable energy/resource technologies
• Increase the availability of sustainable
energy technologies and promote uptake
• Contribute to the expansion of partner
banks’ markets
• Support the development of the EBRD’s
TFP – unlock additional trading potential.
Potential Sectors &
Technologies
Farming
Logistics Companies
Printing
Textile
Office Building
Industrial Processing
TFP – Co-financing Structure (1)
Direct risk sharing with confirming banks
• EBRD covers only a part of the transactions, e.g.
transactions with longer tenors
Risk sharing with confirming banks under the A/B structure
• EBRD guarantees the whole amount of the transaction to
the confirming bank
• Confirming bank takes risk participation by counter-
guarantee to EBRD
• EBRD transfers preferred creditor status to the confirming
bank
24 April, 2018 17
TFP – Co-financing Structure (2)
Risk sharing with other development banks and agencies
• FMO the Netherland and OFID Vienna share part of the
EBRD’s risk with selected issuing banks on a portfolio
basis
• First-loss risk sharing with a syndicate of international
insurance underwriters (ACE and Lloyd’s)
24 April, 2018 18
EBRD TFP – Co-Financing Partners
24 April, 2018
• ACE Global Markets (AGM) & Lloyds of London
• AKA Bank, Germany
• Arab Trade Finance Program, Abu Dhabi
• Confirming Banks
• Donor Risk Sharing Funds
• Export Credit Agencies
• FMO Netherlands
• OPEC Fund for International Development, Vienna
• Private Investment Funds
19
Revolving credit facility
• EBRD also extend short-term loans to selected banks
and factoring companies on Countries of operations
• For the purpose of financing working capital, necessary
for the performance of foreign trade and domestic and
international factoring operations
• Factoring further supports the transfer of innovative
trade finance solutions and know-how to our countries of
operations
• TFP also provides financing for domestic factoring
activities, in local currencies in a number of countries
Trade Finance Cash Facility
Local Company
Local Bank (EBRD’s borrower)
•Takes local company risk
•Borrows from EBRD
•On-lends to the local company
EBRD
Takes local bank risk and lends to the
local bank against sub-borrower base
Repayment to EBRD EBRD’s disbursement
loan repayment loan disbursement
TFP Factoring Case Study
24 April, 2018 23
Case Studies
National Bank of Uzbekistan (NBU/1)
Agrib
usin
ess
Confirming Bank
Chase Manhattan Bank, Switzerland Applicant
Uzprommashimpeks, Tashkent, Uzbekistan. This
transaction was the first deal of Trade Finance
Programme, which signed on 9th of July 1999.
Beneficiary
Dunavant SA, Geneva, Switzerland
EBRD cover
100% Guarantee for USD 10 million
Goods
50,000 Tons of Cotton Fibre
Uzdaewoo Bank (UZD/54)
Ind
ustria
l eq
uip
me
nt a
nd
ma
teria
l
Confirming Bank
Commerzbank A.G, Frankfurt, Germany Applicant
JV Deutsche Kabel AG, Tashkent, Uzbekistan.
Deutsche Kabel AG Tashkent (DKG) is one of the
largerst manufacturers of cable and steel products in
Central Asia since 1949.
Beneficiary
CNTIC-SK TRADING CO., LTD, Shanghai, China
EBRD cover
100% guarantee for EUR 325th Goods
Production machines and lines
Hamkor Bank (HAM/19)
Ve
hic
les a
nd
sp
are
s
Confirming Bank
Commerzbank A.G, Frankfurt, Germany Applicant
OOO Kammaz Arsenal, Tashkent, Uzbekistan
Beneficiary
Rue Minsk Tractor Works, Minsk, Belarus
EBRD cover
100% guarantee for USD 1 million Goods
Importing Tractors from Belarus
24 April, 2018 27
Trade finance training and
advisory services
EBRD – Capacity Building Projects
24 April, 2018 28
EBRD Trade Finance e-Learning Programme
To date > 3,000 trade
professionals from 240
institutions in 36
countries enrolled
24 April, 2018 29
EBRD TFP e-Learning Programme
List of Courses
• Introduction to Trade Finance
• Introduction to Factoring
• Collections
• Mentor 600
• DC Master
• ISP Master
• URDG Master
• Incoterms 2010
• Environmental and Social Issues in
Trade
24 April, 2018 30
Target Audience
• Trade finance team
• Relationship managers
• Risk managers
• Legal team
• Operations team
• Other professionals interested in
factoring products
EBRD ICC e-Learning Programme
24 April, 2018 31
Best students receive further scholarships and
sponsored training programmes in leading European
confirming banks and training companies:
• Commerzbank
• ICC PARIS
• ICC Vienna
• ICC Academy
• ICC Austria
• Banca Popolare di Sondrio
• BHF-Bank, Germany
• BCR Publishing
• Coastline Solutions
• China Systems
• KBC Bank
Best Development Bank in Trade
In 2017 readers of Trade Finance Magazine and
Global Trade Review (GTR) have voted the EBRD
“Best Development Bank in Trade”
EBRD invites other development banks, commercial financial institutions,
export credit agencies and donors to co-finance with the EBRD
24 April, 2018 32
Donors
• The Early Transition Countries Fund
• The Shareholder Special Fund
• European Union
• Norwegian, Swiss, Italian, Canadian, Taiwanese funding
and other donors
TFP Technical Cooperation (TC) Projects are funded by:
24 April, 2018 33
TFP Trade Exchange Magazine
• Launched in 2011
• 12 publications to date
• Dedicated to Trade Finance and
EBRD Technical Assistance Projects
• 5,000 Readers from 1,000 Banks
Reports on:
• News & Events
• Regional Focus Features
• In Depth sector Key Issues
• Trade Projects
24 April, 2018 34
24 April, 2018 35
New Initiative – Compliance
NEW TRAINING FRAMEWORK 2018 EBRD compliance training for trade finance
I. E-Learning Course
II. ICA certification and ICA membership
III. Individual advisory services for EBRD partner banks – “Correspondent
banking technical assistance “
Know your client? Kill your client?
OR
NEW TRAINING FRAMEWORK 2018
EBRD compliance training for trade finance 1/3
E-learning : Since 2010 EBRD offers wide range of
Trade Finance E-learning programmes to
partner banks. The programme was developed with
the co-operation of International Chambers of
Commerce (ICC).
NEW: Trade Based Financial Crime Compliance
training module covering GBP 795.00
1. Financial Crime Regulation
2. The Compliance Programme
3. Exercising Due Diligence
4. Indicators of Trade Based Financial Crimes
5. Combating Financial Crime
24 April, 2018 37
NEW TRAINING FRAMEWORK 2018
EBRD compliance training for trade finance 2/3 (A)
EBRD and International Compliance Association (ICA) to offer scholarships on Compliance
Certification Courses.
• ICA Certification in KYC and CDD EUR 695.00
• ICA Specialist Certification in Trade Based Money Laundering EUR 695.00
• Target Audience
• Trade finance operations staff
• Trade finance relationship managers
• Trade finance risk managers
• Bank audit and compliance staff
• Bank management
• Lawyers working in compliance
• Further, the EBRD will support individuals to improve their existing knowledge still further
by proving them access to comprehensive CPD, news and information as well as the
global compliance community through professional membership of the International
Compliance Association.
24 April, 2018 38
NEW TRAINING FRAMEWORK 2018
EBRD compliance training for trade finance 2/3 (B)
• ICA Certification in KYC and CDD this training course provides a foundation
knowledge of core know your customer (KYC) and customer due
diligence (CDD) concepts, and introduction to CDD frameworks and an
overview of the key components of working in the KYC environment.
• ICA Specialist Certification in Trade Based Money Loundering Certificate in
Trade Based Money Laundering provides staff with an opportunity to
look at the AML and CTF models used to address the risks that exists
within the international trade environment. The course will also
investigate some of the practical issues faced, where breaching money
laundering requirements can cost hundreds of millions of dollars.
24 April, 2018 39
NEW TRAINING FRAMEWORK 2018
EBRD compliance training for trade finance 3/3
EBRD will offer individual correspondent banking advisory services to its partner
banks as part of the Compliance Advisory Services Framework.
• The goal of the programme is to help partner banks to optimise and standardize
KYC required documents and enhance their correspondent banking relationships
with EBRD TFP networking platform of over 800 Confirming Banks.
• Customised Advisory Services
• Turn around CB DD and KYC
• Demystifying new Wolfsberg CB DDQ
• BAFT Respondents Playbook
• Internal Operational/System changes, training, revised requirements
• Assessment and implementation of appropriate timeline till 2019
24 April, 2018 40
Contacts
24 April, 2018
Trade Facilitation Programme
European Bank for Reconstruction and Development
One Exchange Square, London EC2A 2JN, UK
E-mail: [email protected]
Web-site: www.ebrd.com/tfp
Rudolf Putz
Head of TFP
Tel: +44 207 338 7776
E-mail: [email protected]
Join us in social networks:
Twitter: www.twitter.com/ebrdtrade
Facebook: www.facebook.com/ebrdtfp
LinkedIn: www.linkedin.com/groups?gid=4667852
41
Kamola Makhmudova
Senior Banker
Tel: +44 207 338 7731
E-mail: [email protected]
Marco Nindl
Principal Banker
Tel: +44 207 338 7614
E-mail: [email protected]
Small Business Initiative
Инвестиции в малый бизнес,
построение большой экономики
г. Ташкент
18 апреля 2018 г.
Small Business Initiative
Роль малого бизнеса в экономике
1. Малый и средний бизнес является основой любой экономики.
2. Рост малого бизнеса улучшает экономические институты (появление класса
предпринимателей развивающейся экономики).
3. Малый бизнес способствует развитию конкуренции, а также более эффективному
распределению ресурсов в экономике.
4. В странах операций ЕБРР в среднем 50% ВВП формируется малым бизнесом и 61%
рабочих мест создается предприятиями малого бизнеса.
5. Малый бизнес испытывает больше трудностей с доступом к источникам
финансирования, несет более высокие издержки в сопровождении сделки, и не всегда
имеет полный доступ к информации.
6. Недостаточно развитая деловая среда оказывают более сильное влияние на малый
бизнес в сравнение с крупным.
2
Small Business Initiative
Содействие малому бизнесу в повышении
конкурентоспособности и росте
Эффект: Полноценный
сектор МСБ в стране
Долгосрочные
результаты: Устойчивый
доступ МСБ к
финансированию и
консультациям
Краткосрочные
результаты:
Финансирование и
консультации
Мы предоставляем более 1.5 млрд. евро на финансирование и развитие более 200,000
субъектов МСБ каждый год.
Small Business Initiative
Интегрированный набор инструментов для МСБ
Финансирование
через финансовые
учреждения
Прямое
финансирование
малого бизнеса
Диалог по вопросам
экономической
политики
Со-финансирование
с финансовыми
учреждениями
Консультации для
малого бизнеса
• Более 200
финансовых
учреждений-
партнеров
• Финансирование
более 1.5 млрд.
евро каждый год
• Поддержка
сотням тысяч
предприятий
малого бизнеса
• Прямое
финансирование
малого бизнеса в
сочетании с
консультациями
• Внедрение
высоких
стандартов
корпоративного
управления и
финансовой
прозрачности
• Целенаправлен-
ные действия
продвижению
экономических
реформ,
параллельно с
инвестициями
• Эффективный
диалог с
органами,
определяющими
политику
• Снижение риска
при
финансировании
малого бизнеса
• Помощь
финансовым
учреждениям-
партнерам в
расширении
операций
• Предоставление
консультаций
• От стратегии до
текущей
деятельности,
финансовой
отчетности,
энерго-эффектив-
ности и т.д.
4
Small Business Initiative
Финансовые инструменты
5
Диалог по вопросам политики малого бизнеса через такие инициативы, как
Инвестиционный совет и законодательная реформа
Прямое финансирование малого
и среднего бизнеса
Фондированное и нефондированное со-
финансирование с банками партнёрами
Косвенное финансирование с партнерскими финансовыми
учреждениями через кредитные линии и техническое содействие
Консультации для малого и среднего бизнеса для роста и лидерства на рынке
ЗАМЕТНЫЙ РОСТ Стадии развития малого и среднего бизнеса РАЗВИТИЕ
Small Business Initiative
Программа разделения рисков (ПРР)
ЕБРР и Банки Партнеры (ПБ) разделяют риск по
кредитам, выдающимся местным компаниям через
ПРР на фондированной и нефондированной основе
для долгосрочных суб-проектов сроком до 10 лет
Фондированное разделения рисков схоже с
синдицированным кредитованием
Нефондированное разделение рисков схоже с
гарантией
Финансирование широкого спектра инвестиционных
целей, включая (но не ограничиваясь) капитальные
затраты, оборотные средства и т. д
Техническая помощь и консультации для заемщиков
Банка Партнера в рамках предварительного и пост
финансирования ПРР
6
МСБ
ЕБРР БП
Small Business Initiative
Прямое финансирование
Прямые инвестиции в частный бизнес в странах
операций
Финансирование широкого спектра инвестиционных
целей, включая (но не ограничиваясь) капитальные
затраты, оборотные средства и т. д
Финансирование долгосрочных проектов сроком до
10 лет
Работа с ключевыми лидерами рынка, с
проверенным опытом работы и хорошей деловой
репутацией
Инвестиции сочетаются с консультированием
бизнеса, которые мы предоставляем на средства в
рамках технического сотрудничества, доступных в
ЕБРР от различных доноров
7
МСБ
ЕБРР
www.ebrd.com/knowhow
Small Business Initiative
• Заёмщик: основные требования:
• соответствие критериям МСБ:
– Количество сотрудников (на полной ставке) – не выше 250 (при классификации в качестве
МСБ) и не выше 500 человек (при классификации в качестве МСБ+), и
– Годовой объем реализации предприятия/холдинга – не более 50 млн евро по среднему
курсу, или
– Объем активов предприятия/холдинга – не более 43 млн евро по курсу на отчетную дату
• Сумма всех существующих кредитов с учетом планируемого займа Банка не выше 2.5x-3.5х
фактической EBITDA.
• Мы приветствуем наличие (или готовность к проведению) бизнес плана и аудита финансовой
отчетности по системе МСФО; соблюдение принципов экологической и социальной
ответственности.
• Цель инвестиции: Приобретение основных средств и пополнение оборотного капитала,
расширение, инновации, повышение конкурентоспособности, экспортного потенциала,
эффективности (в т.ч. энергоэффективности), частичное рефинансирование существующих
займов.
• Сектора: весь спектр секторов экономики, за исключением целей как оружие, алкоголь, табачное
производство и азартные игры. Инвестиции должны соответствовать требованиям по защите
окружающей среды.
Критерии к выбору клиента
8
Small Business Initiative
• Размер инвестиций зависит от кредитоспособности компании и устойчивости финансовых
прогнозов по проекту со сроком кредитования от 3-х до 7 лет.
• Финансирование Банка составляет может достигать 50-60% от стоимости проекта
• Прямой кредит Банка может быть номинированный в евро, дол. США или российских
рублях; в исключительных случаях - вложения Банка в акционерный капитал с долей до 25%.
• Срок структурирования кредита – 9-12 месяцев (с момента предоставления в Банк
документации): проведение углубленной финансовой, юридической и технической
проверки; структурирование условий и выдача кредита.
• Целевая ставка - Межбанковская ставка (стоимость валюты для ЕБРР/Libor/Euribor) +
маржа/рыночная премия за риск (обсуждается, как плавающая, так и фиксированная
ставка).
• Обеспечение - Залог активов (с учетом независимой оценки) в размере от 1.2x-1.8х к
сумме кредита + корпоративные гарантии + иные формы обеспечения, позволяющие
снизить риск.
• Поддержка Банка по привлечению требуемых экспертиз для успешной реализации проекта
(в т.ч. гранты, квалифицированные консультации по выходу на другие рынки, внедрению
передовых технологий и т.д.).
Прямое финансирование малого и среднего бизнеса
9
Small Business Initiative
ЕБРР предоставляет также средства Технического содействия и консультационные услуги суб-
заемщикам ПБ по ПРР. Они смогут использовать:
Улучшение бухгалтерского учета и помощь в реклассификации по стандартам GAAP/
IFRS, получение помощи для первого аудита.
Секторная поддержка: ЕБРР имеет огромную базу иностранных экспертов по разным
направлениям.
Например: управление складским помещением и рабочим капиталом в целом,
управление базой данных, сертификация качества продукции, улучшение
производственного процесса, улучшение конкурентоспособности, изучение новых
рынков, финансовое управление.
Техническое содействие может быть предоставлено до и после финансирования
ТС могут быть полезны для повышения добавленной стоимости продукции.
Объемы финансирования по линии ТС не ограничены в зависимости от потребностей
Проекта.
Техническое содействие компаниям МСБ
10
Small Business Initiative
Вовлечение консультантов для
предоставления тренингов для сотрудников
ПБ касательно навыков написания
кредитных предложений, финансового
анализа и моделирования, а также оценки
рисков в мониторинге проектов.
Организация структурированных тренингов
по финансовому управлению ПРР и оценки
рисков.
Предоставление различной отраслевой
экспертизы и знаний: пример – консультанты
по недвижимости, гидро инженеры,
специалисты по проектному
финансированию и т.д.
Техническое содействие Банкам Партнерам
ПРР сопровождается пакетом средств Технического содействия для
институционального развития. Включая:
11
Small Business Initiative
Инвестиции: • Компания Ak Gap является одним из
наиболее крупных производителей ПЭТ
преформ в Туркменистане
• ЕБРР инвестировал 9 миллионов долларов
США через два займа на модернизацию
производства и расширения
производственной линии
Местные консультации: • ЕБРР также предоставил консультации на
оценку проекта и подготовку бизнес плана
инвестиционного проекта
Завод по производству ПЭТ преформ в
Туркменистане
Small Business Initiative
Компания Inter Fitness в Таджикистане
Местные консультации: • Проект по улучшению финансовой
отчетности согласно требований Банка
• Маркетинговое исследование и
разработка бизнес плана на создание
нового спортивного фитнесс-центра
Международные советники: • Подбор оборудования фитнесс-центр
• Организационное развитие (Маркетинг,
Продажи, HR, Система управления
качеством, дизайн)
• Организация франшизы (X-Fit, Россия)
Инвестиции: • Кредит в размере 2 миллиона долларов США на приобретение оборудования и
завершения строительства
Small Business Initiative
Транспортная компания Olzha в Казахстане
Инвестиции: • Компания Olzha является крупным частным
оператором парка специализированных
железнодорожных вагонов и оптовым
поставщиком сжиженного газа в Казахстане
• ЕБРР инвестировал порядка 9 миллионов
долларов США на расширения вагонного
парка
Международные советники : • Содействие развитию экспорта
• ЕБРР также предоставил консультации на
оценку проекта и подготовку бизнес плана
инвестиционного проекта
Small Business Initiative
Контакты ЕБРР
Нодира Мансурова,
Региональный Глава
Финансирование и Развитие МСБ
Центральная Азия и Монголия
15
Small Business Initiative
Благодарим за внимание!
European Bank for Reconstruction and Development
April 2018
OFFICIAL USE
Table of Contents
A. Activities of EBRD
B. Manufacturing and Services
C. Selected Projects
OFFICIAL USE 2
A.Activities of EBRD
OFFICIAL USE 3
Services we offer
• Financial investment projects are at the heart of our operations.
• In addition we provide business advisory services and promote
trade finance and loan syndications.
Where we work
• We're active in more than 36 economies, from the Southern and
Eastern Mediterranean, to Central and Eastern Europe, to
Central Asia.
Business sectors we work in
• Our operations span a range of industries, from agribusiness to
infrastructure to transport.
OFFICIAL USE 4
EBRD: Top ten countries of investment
5 OFFICIAL USE
• In 2017, EBRD had total new
commitments of EUR 9.7 billion
• Investments in the private sector
accounted for 71% of business
volume
• Debt investments accounted for 84%
of total business volume
• Equity investments were 5% and
Guarantees amounted to 11% of total
business volume
• The top ten countries accounted for
over 72% of total business volume in
2017
EBRD TOP TEN INVESTEE
COUNTRIES, in EUR M
1. Turkey 1,540
2. Egypt 1,413
3. Ukraine 740
4. Poland 659
5. Greece 614
6. Kazakhstan 586
7. Romania 546
8. Azerbaijan 456
9. Serbia 382
10. Tunisia 324
EBRD: Investment Portfolio
6
Portfolio Breakdown by Public vs. Private Sector Portfolio Breakdown by Sector
OFFICIAL USE
State Sector
25%
Private Sector
75%
Manufacturing
& Services
9%
Infrastructure
26%
Financial
Institutions
23%
Energy
24%
Corporate (1)
18%
EBRD: Project Cycle, Tenors and Financing
7
• A project from Origination to Approval typically takes 3 to 6
months, provided all necessary information is available and
depending on the complexity and length of negotiations
• The total project cycle from origination to final repayment can
range from 1 year, for working capital or trade financing projects,
to 10 years for long term investments
• EBRD financing in individual projects has ranged from less than
EUR 1 million to more than EUR 300 million
OFFICIAL USE
EBRD: Financing Structures Tailored to the Project
8
• EBRD is willing to share political and commercial risk under different financing
structures
• EBRD invests in a broad range of instruments across the capital structure with
various types of debt and equity participations:
Debt:
- Senior, subordinated, convertible loans or capital market instruments
- Long term (up to 10 years or more) and short term loans
- Floating or fixed rate loans
- USD, Euro, or local currency* loans
Equity:
- Minority positions (usually up to 35%)
- Common or preferred stock
- Mezzanine finance
*Note: Subject to market conditions and availability
OFFICIAL USE
B. Manufacturing and Services
9 OFFICIAL USE
Manufacturing and Services: Industry Sectors
10
A broad range of industries:
• Chemicals
• Building Materials
• Automotive
• Forestry and Paper
• Steel and non-ferrous metals
• Healthcare and Pharma
• FMCG & Retail
2017: New investments of EUR 800m in 60 projects
OFFICIAL USE
Chemicals
30%
Forestry and Paper
10%
Healthcare and
Pharmaceuticals
10%
Steel & Non-ferrous
industrial metals
8%
Miscellaneous
7%
Automotive
14%
Building Materials
18%
FMCG & Retail
3%
Manufacturing and Services: Team Overview
11
• 60 bankers of 25 different nationalities
• 40 bankers based in the EBRD’s countries of operation to serve clients locally
• Industry centres of excellence to provide in-depth expertise with lead bankers
and senior industry experts
• The team has completed more than 600 projects with total commitments of ca.
EUR 11billion with a current active investment portfolio of EUR 3.7billion
• In 2017, the team completed 60 projects with commitments of EUR 800million
• The team has significant experience with complex projects in various industries
through project finance, restructurings and privatisations
OFFICIAL USE
Manufacturing and Services: Centre of excellence/expertise
12
• Aerospace
• Automotive and Parts
• Construction and Materials (excluding cement)
• Cement
• Forestry and Paper
• Non-ferrous industrial metals (aluminum, copper, zinc, etc)
• Pharmaceuticals
• Retail (excl. food and beverages)
• Steel
OFFICIAL USE
Manufacturing and Services: Selected Clients
13
Clients of the Manufacturing & Services team range from major international industry
players to local medium and small sized companies
OFFICIAL USE
Manufacturing and Services: Contacts
14
Frédéric Lucenet
Director
Manufacturing & Services
EBRD
1 Exchange Square
London EC2A 2JN
United Kingdom
Tel: +44 207 338 6291
E-mail: [email protected]
Samaridinzoda Sobir
Principle Banker
Industry Commerce Agribusiness
Group (ICA)
EBRD
Tashkent Resident Office
Navoi street, 1A (Hyatt Regency),
Tashkent, Uzbekistan
Tel: +998 (71) 207 12 90
Mob: +998 90 969 25 52
E-mail: [email protected]
OFFICIAL USE
C. Recent Projects
15 OFFICIAL USE
16
• Ford Otomotiv Sanayi A.S is incorporated in Turkey for the manufacturing and selling of motor
vehicles and parts. The Company operates as a joint venture between Ford Motor Company and
Koc Holding 41% equity stake each. The rest of the shares are listed on the Istanbul Stock
Exchange.
• The EBRD’s loan will enable the company to introduce styling changes and add current
technology features to its commercial vehicles and improve production processes.
• The project will also strengthen its focus on employment and training of young people. The
company will partner with educational institutions to develop a model for vocational education,
including skills standards, to address the skills mismatch in the labour market
Highlights
Project Summary
Country
Sector
Product
Amount
Client Signed in
OFFICIAL USE
Turkey: EBRD invests in Turkey’s top car marker
Turkey
Automotive
Loan
€150 million
Ford Otosan April 2017
17
• EBRD is investing US$ 50 million as a shareholder in MS Pharma. The investment will support
MS Pharma’s growth through acquisitions as well as its investment programme in Jordan,
including upgrade and expansion of its manufacturing facilities, increase its capacity and build
a differentiated product portfolio in chronic diseases: cardiovascular, central nervous system
(CNS), oncology and respiratory.
• The Bank’s engagement will improve access to the latest generation of pharmaceutical
products in the MENA region. It will also enable MS Pharma to continue providing increasingly
higher quality and affordable medicines coupled with product innovation and creation of
skilled jobs in the Bank’s countries of operations.
Jordan: EBRD supports innovative pharmaceutical
production
Highlights
Project Summary
Country Jordan
Sector Pharmaceuticals
Product Equity
Amount US$ 50 million
Client MS Pharma Ventures Signed in July 2016
OFFICIAL USE
18
• Lafarge Group is the world's leader in building materials with leading positions in all of its
businesses (cement, aggregates, concrete and gypsum).
• The Bank participated in a joint venture to develop a waste treatment plant in Sokhna, Egypt,
which will supply alternative fuels to Lafarge Cement Egypt (the second largest cement plant in
the world), and potential other cement players in the region.
• The project contributes to the development of the waste management sector, and draws on the
growing demand for alternative fuels in Egypt.
Egypt: EBRD supports the development of the
alternative fuels market
Highlights
Project Summary
Country Egypt
Sector Alternative Fuels
Product Equity
Amount €9 million (EGP equiv.)
Client Lafarge & Argan
Infrastructure Fund Signed in November 2014
OFFICIAL USE
19
Regional: EBRD supports R&D in Morocco, Russia,
Poland and Romania
Highlights
Project Summary
Country Regional
Sector Automotive
Product Loan
Amount €40 million
Client Faurecia Signed in 2013
• Faurecia is the world’s 6th largest automotive component supplier, specialising in
automotive seating, emissions, control techniques and interior systems.
• EBRD provided a €40 million loan as part of a €123 million syndication, which will assist
the company in developing its research and development and production activities in
Morocco, Russia, Poland and Romania.
• The project will help expand linkages to local suppliers to improve their quality standards.
OFFICIAL USE
20
Uzbekistan: EBRD supports Uzbekistan’s leading
pharmaceutical producer
Highlights
Project Summary
Country Uzbekistan
Sector Pharmaceuticals
Product Loan
Amount $11.2 million
Client Jurabek Laboratories Signed in 2017
• Jurabek Laboratories LLC is one of the largest privately owned pharmaceutical producers
in Uzbekistan engaged in manufacturing generic pharmaceutical products at its own
facilities.
• EBRD provided a $11.2 million loan to finance acquisition of new blow-fill-seal machines
which, simultaneously mould and fill with the selected infusion, and seal the plastic
containers in a closed sterile environment.
• The project will help expand operations of the company and improve the quality
standards.
OFFICIAL USE
21
Tajikistan: EBRD supports a leading wood processing
company in Tajikistan.
Highlights
Project Summary
Country Tajikistan
Sector Manufacturing
Product Loan
Amount $0.9 million
Client Fortuna LLC Signed in 2013
• Fortuna LLC is a leading wood processing company, engaged in production of solid wood
doors, windows and furniture.
• The Bank’s engagement supported expansion programme of the Company by financing
acquisition of advance technology for wood processing.
• The project will increase company’s operations, product range and improve the quality
standards.
OFFICIAL USE
22
Tajikistan: EBRD supports a leading trader and
retailer of furniture, doors and home appliances in
Tajikistan.
Highlights
Project Summary
Country Tajikistan
Sector Trade/Manufacturing
Product Loan
Amount $1.5 million
Client Atlant LLC Signed in 2017
• Atlant LLC a local company involved in wholesale and retail of furniture, doors and
selected home appliances, mostly imported from Belarus, Ukraine, Russia and Turkey.
• The Bank’s loan supported construction of a new furniture and home appliances
showroom and a furniture manufacturing workshop.
• The project will allow expansion of company’s retail operations, increase product variety
and contribute to the development of local manufacturing.
OFFICIAL USE
23
Tajikistan: EBRD supports Health and Fitness centre
in Tajikisan
Highlights
Project Summary
Country Tajikistan
Sector Retail trade
Product Loan
Amount $2 million
Client Inter Fitness LLC Signed in 2015
• Inter Fitness LLC is a newly established company providing recreational and health
services to the local population.
• The Bank’s loan supported construction of a new fitness facility with over 10K sq.m of
floor area, which will be operated under a franchise agreement with X-Fit, one of the
leading Russian operators of health and fitness centres with over the last 25 years of
experience.
• The project will contribute to the development of the recreational activities in the country,
and improve access of the local population to new generation recreation facilities,
promoting a healthy lifestyle in the area.
OFFICIAL USE
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 37 economies across three continents. The Bank is owned by 66 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green and integrated. Follow us on the web, Facebook, LinkedIn, Instagram, Twitter and YouTube.
EBRD press release
EBRD promotes trade finance in Uzbekistan
FOR IMMEDIATE RELEASE
www.ebrd.com/news
Date: 18/04/2018
Contact: Anton Usov
Tel: +79032674069
Email: [email protected]
Twitter: @AntonUsov1892
Keywords: EBRD, Uzbekistan, TFP
Translation:
Registan in Samarkand is part of Uzbekistan’s cultural heritage
The EBRD is promoting trade opportunities in Uzbekistan by presenting its Trade Facilitation Programme at
a first specialised event, which is taking place in Tashkent today. It is attended by more than 150
government officials, industry professionals, exporters and importers, who will meet with senior managers of
20 leading banks from Georgia, Germany, Japan, Korea, Russia, Taiwan, Tajikistan, Turkey, UK, Ukraine
and the US. The conference participants were welcomed by Mr. Sakhib Saifnazarov, Deputy Minister of
Foreign Trade of the Republic of Uzbekistan. In his speech, the Deputy Minister noted the important role of
the IFIs and EBRD in particular in the process of modernization and diversification of the country's
economy. S. Saifnazarov also briefed the conference participants on the ongoing reforms aimed at further
liberalisation of the country's economy.
Following the beginning of a broader engagement with the country in late 2017, the EBRD’s Trade
Facilitation Programme has already signed three trade finance facilities with the National Bank of
Uzbekistan, Ipoteka Bank and Hamkorbank. The EBRD’s Trade Facilitation Programme has worked since
1999 to promote foreign trade to and from the EBRD countries of operations. The TFP team has
demonstrated a particular ability to function as a significant networking hub and capacity-building engine in
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 37 economies across three continents. The Bank is owned by 66 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green and integrated. Follow us on the web, Facebook, LinkedIn, Instagram, Twitter and YouTube.
the sector. And this morning for the first time, we opened the largest trade finance event ever in Tashkent
to discuss development of trade and trade finance in Uzbekistan and region with the EBRD’s team,
representatives of our partner banks in the region, most active confirming banks and outstanding business
entrepreneurs in the country. Said Kamola Makhmudova, Senior Banker FI, Conference Chairman.
In the same week, the EBRD TFP team has delivered two seminars for over 100 bank professionals from
Uzbekistan. The first training took place on 16-17 April 2018 was on “Basics of International Documentary
Trade Finance Banking for Back Office”. The second training took place on 19-20 April 2018 was on
“Foundations of International Trade & Finance”.
The EBRD TFP programme aims to promote foreign trade to, from and among the countries in which the
EBRD invests. Through the programme, the EBRD provides guarantees to international confirming banks
and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers
and distributors. The TFP currently includes 95 partner banks in 27 countries, which limits exceeding EUR
1.5 billion in total and more than 800 confirming banks worldwide. In 2017, banks participating in the TFP
network used the EBRD’s support to finance 1,905 trade transactions worth EUR 1.9 billion across 25
countries.
The EBRD is the largest institutional investor in Central Asia, with close to €11.6 billion (US$ 12.3 billion
equivalent) committed to projects in a variety of sectors, from infrastructure to agriculture, with a focus on
private sector development.
Between 1992 and 2010, the EBRD invested €894 million in Uzbekistan in 54 projects. By the end of 2017,
the Bank had signed its first six new operations in the country since 2010, for a total of over €153 million.
