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Magyar Export-Import Bank Rt.

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Transcript

  • 1. FRWE conference: 5-6 February, 2004
    • Hungarian Export-Import Bank Ltd.
    • György Rosta
    • Deputy CEO
  • 2. Establishment: Act XLII of 1994
    • 100 % state ownership
    • The Hungarian Export-Import Bank was established in order to :
      • develop the Hungarian foreign trade relations,
      • be a partner for exporters and commercial banks,
      • offer services for deals, which can not be financed on a market conditions,
      • be instrumental in supporting outgoing foreign investment
  • 3. Impacts on Exim’s mission
    • legislative impact: harmonization with the international rules(framework for Eximbank’s activity)
    • country impact: rethink of export patterns (EU accession)
    • activity impact: shift in Exim’s profile towards new products
    • policy impact: export-led economic growth
  • 4. Conseqences of EU accession
    • one third of the market portfolio will be spread among new markets
    • share of risky markets within the portfolio will increase
    • new products came in highlight (tied aid, one top-shop financing)
  • 5. Future strategy
    • Markets outside the EU
    • CIS
    • South-Eastern Europe
    • Middle East
    • South America
    • Important products
    • project finance
    • risk sharing
    • aid finance
    • one stop shop finance
  • 6. Project finance
    • The main elements of this complex facility:
      • financing the buyer
      • pre-financing the exporter
      • issuing state-backed export-guarantees
      • the role of Eximbank: organiser, direct lender, lender of commercial banks guarantor,
    • Project risk based financing facility - the future
      • financing infrastructure constructions
      • developing markets
      • the role of Eximbank: organiser of the Hungarian financing background of the project in line with foreign banks
  • 7. Risk sharing
    • Eligible instruments: Documentary Letter of Credit, Guarantee, associated with exports, issued by banks accepted to Eximbank
    • Contract: individually or in frame agreement
    • Beneficiary: Hungarian exporter
    • Amount: In consideration with the risk of the limit established for eligible bank(s)
    • Pricing: - discount rate: LIBOR + margin % p.a.
  • 8. Aid finance
    • Loans, grants, mixed financing packages tied to the
    • procurement of goods from the donor country with
    • preferential conditions:
        • lower interest, grant element, longer repayment term + grace period
    • Eligibility rules:
    • concessionality level : minimum 35%
    • country eligibility : GNI/capita: 2935 USD in 2003
    • project eligibility: cash flow is not sufficient on market principle
  • 9. One stop-shop financing Joint financing with Export Credit Agencies (ECAs)
    • EXPORTERS guarantee
    • sales Hungarian affiliate fees
    • of US parent company follower ECA
    • goods counter
    • importer/borrower lead ECA guarantee
    • loan commercial bank comprehensive
    • guarantee
  • 10. Main banking relations in the region
    • Russia: Sberbank, Alfa Bank, Vneshtorgbank, Gutabank, Bank of Moscow, BIN Bank
    • Ukraine: Ukreximbank, Nadrabank, Ukrtsocbank, Avalbank
    • Beloruss: Belorusbank, Priorbank, Belpromstroibank, Belvneshtorgbank
  • 11. Thank you for your attention! EXIMBANK Hungarianr Export-Import Bank Ltd. 1065 Budapest Nagymező 46-48. Tel.: 0036(1)3749-100 Fax: 0036(1)3749-120 Internet: www.eximbank.hu