Download 2nd DFD_Beikos - Institutional capacity and cooperation

2nd Danube Financing Dialogue
Financing Instruments to support SMEs
Belgrade, 24 January 2013
Andreas Beikos
Head of Office
European Investment Bank
Western Balkans Representative Office in Belgrade
7/13/2017
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EIB Group:
EIB : European Union’s financing institution
Created by the Treaty of Rome in 1958 as the long-term lending bank
of the EU
Shareholders are the 27 Member States of the EU
Policy driven Bank: raises funds on the capital markets which it lends
on favourable terms to projects furthering EU policy objectives
Operates on a non-profit maximising basis and lends at close to the
cost of borrowing
AAA rating
EIF : EIB Group’s specialist vehicle for VC and guarantees
Established in 1994
Shareholders are the EIB, European Union and commercial banks
Acts as a “fund of funds” by acquiring holdings in venture capital
funds (VCF) which take equity participations in SMEs
Extends guarantees to the banking community to foster the provision
of medium and long-term loans to SMEs
AAA rating
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EIB Signatures 1958-2011
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EIB Priority Objectives
Outside the Union:
Private sector development
Infrastructure development
Security of energy supply
Environmental sustainability
Western Balkans: EIB operates under the Pre-Accession EU
Mandate and the Pre-Accession Facility (at EIB own risk)
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•European Investment Bank
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EIB activity in Western Balkans from 2004-2011
EIB Activity in the Western Balkans
2500
2000
Approvals
1500
Signatures
EUR M
1000
Disbursements
500
0
2004
2005
2006
2007
2008
2009
2010
2011
EUR M
2004
2005
2006
2007
2008
2009
2010
2011
Total
Approvals
321
582
594
479
517
2066
1249
685
6493
Signatures
265
399
413
443
577
1262
914
1034
5307
Disbursements
140
186
236
306
315
371
585
859
2998
7
EIB lending in Western Balkans in 2011 by sector
(EUR 1,034 m)
Croatia not included
7%
10%
5%
28%
49%
1%
9/03/2012
7/13/2017
Transport
Urban infrastructures
Credit lines (SMEs)
Services
Industry
Health and education
European Investment Bank Group
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EIB Products
In the Western Balkans, the EIB operates primarily through:
- Direct loans to projects generally with a cost above EUR 25 million
- Intermediated loans channeled through intermediary banks (credit
lines to banks), whereby intermediaries are obliged to transfer the
financial benefits from EIB resources to SMEs and municipalities
- Currently, existing credit lines for SMEs and municipalities in the
region amount to EUR 2 billion
- Framework loans to central and local public authorities for projects
of up to EUR 50 million
- The EIB contributes to the European Fund for Southeast Europe
(EFSE - www.efse.lu) that provides sustainable financing to micro
and small enterprises and to the Green for Growth Fund South
East Europe (for RE and EE - www.ggf.lu)
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•European Investment Bank
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SME financing: A key priority for the EIB
SME financing has been reinforced as one of the
priority objectives of the EIB Group since 2005
The role of the EIB Group is to facilitate access to
finance for SMEs at better financial conditions:
• channel increased funding sources and intensifying
our partnership with the banking sector
• provide and develop a wider range of products
Coherence of the whole EIB Group product range
(reinforcing of cooperation between EIB and EIF)
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EIB Loan for SMEs
EIB Loan For
SMEs
Financial Intermediary
(lending to SMEs)
Favorable interest rate loans
SME
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SME
SME
SME
SME
SME
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EIB lending to Banking Sector in Western Balkans from 2002-2011
EIB Lending to Banking Sector in the Western Balkans by Country
SERBIA
BiH
FYROM
MONTENEGRO
ALBANIA
400
350
300
250
EUR M
200
150
100
50
0
2002
2004
2005
2006
EUR M
2002
2004
2005
2006
Serbia
20
45
90
90
60
55
BiH
FYROM
Montenegro
Albania
10
2007
2007
100
2008
2008
2009
2010
2011
2009
2010
2011
Total
370
65
195
875
125
150
15
505
10
100
60
180
30
83
11
124
10
10
20
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EIB’s support to SMEs in Serbia
EIB has signed 13 loan agreements for SMEs in Serbia during
the period 2008-2011 for a total of EUR 700m.
The EIB cooperates at present with 15 financial intermediaries in
Serbia.
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Year
Number of operations
signed
Amount (EUR M)
2008
1
50
2009
6
390
2010
3
65
2011
3
195
Total
13
700
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General Terms and conditions for credit lines
Loan Size: preferably above EUR 20 m
Maturity: up to 15 (5) years for projects by public authorities
up to 12 (4) years for SME projects
up to 7 (2) years for equipment leasing
Eligibility: for financing SME projects and small and medium scale projects in the
fields of i2i, energy, environmental protection, industry, health, education and
services
Security: Sovereign guarantee (for state banks) or parent guarantee (for international
banks)
Financial benefit to be transferred to the final beneficiary contractually (information
obligations on the banks)
Stricter requirements on financial intermediaries to inform SMEs of EIB’s intervention
and its impact on the financing conditions offered by the intermediary
Procurement: intermediary shall ensure compliance with EIB’s guidelines for
procurement and with relevant legislation
Environment: intermediary shall ensure that final beneficiaries comply with local
environmental legislation and pursuing the application of EU standards
Due Dilligence fee: from EUR 40,0007/13/2017
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•Western Balkans
•Enterprise Development & Innovation Facility
•EC
•(WBIF, IPA)
•EIF, EBRD,
•other IFIs
•WB Beneficiaries
•Approximately EUR 40 m
•EC
•(WBIF, IPA)
•EIF, EBRD,
•other IFIs
•Approximately EUR 54 m
•EC
•(WBIF), IPA
•EUR 20 m
•EC
•(WBIF, IPA)
•EUR 9 m
•Pillar 1
•Pillar 2
•Pillar 3
•Pillar 4
•“Innovation Fund”
•“Expansion Fund”
•Guarantee Facility
•TA Component on
•Reforms & Capacity Building
•Equity
•Guarantee
•Equity
•Financial Institutions
•Innovative
•WB SMEs
•High Growth
•WB SME
•Up to EUR 50 m
•EBRD
•co-financing facility
•Loans
•WB SME
Western Balkans Enterprise Development & Innovation
Facility (WB EDIF)
A new Innovation Fund to focus on seed and early stage equity
investments in innovative SMEs;
A new Expansion Fund to focus on expansion capital equity
investments in high growth SMEs;
A new Guarantee Facility to support access to bank lending for
local SMEs that currently have limited access to finance;
A comprehensive reform programme supported by Technical
Assistance resources to allow progress in the - regulatory
framework related to equity investments, capacity building as well
as supporting the Platform itself
For more information…
SMEs can find the list of EIB financial intermediaries
in Western Balkans, including contact details, on EIB
website.
http://www.eib.org/
www.eib.org/about/news/the-intermediary-banks-and-financing-institutions-for-credit-lines.htm
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THANK YOU
Andréas Beikos
Head of Office
European Investment Bank
38-40 Vladimira Popovića
11070 New Belgrade
E-mail: [email protected]
Tel: +381 11 312 1756
EDIF Platform
Ioannis Tsakiris
E-mail: [email protected]
Tel: +352 4379 81373
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