The document summarizes the historical development and activities of the Croatian Agency for SMEs, Innovations and Investments. It was established in 1994 and has since supported SME development through guarantee programs, grants, consultancy services, and other financing programs. It issues guarantees for bank loans to SMEs under EU state aid rules. It also recently introduced equity guarantees and microloan programs. Going forward, it will play a central role in supporting entrepreneurship through the implementation of €1 billion in EU structural funds for 2014-2020.
Kurt Leutgeb (Austria Wirtschaftsservice, aws) - session 16/04/2015
Kurt Leutgeb's presentation at the Operational Training Session held on the 16/17 April 2015 in Maribor.
(a new version of this presentation was uploaded on 2/07/2015 to include more data)
KOTEC was founded in 1989 by the Korean government to enhance technological competitiveness and development. It launched a technology appraisal system to systematically evaluate technologies. The appraisals result in reports that rate technologies or assign monetary values, which are important factors for banks' loan decisions and the purchase/transfer of technologies. KOTEC has over 530 in-house experts and 1,000 advisors who appraise technologies using the KOTEC Technology Rating System (KTRS) across its 52 appraisal centers. The KTRS evaluates applicants on 34 indices across 4 categories to determine credit guarantee eligibility.
COSME is the first European program dedicated solely to supporting SMEs from 2014-2020 with a total budget of €2.5 billion, 60% of which supports financial instruments. These instruments include the Loan Guarantee Facility (LGF) and Equity Facility for Growth (EFG). The LGF provides guarantees and counter-guarantees to financial intermediaries providing loans to SMEs, as well as guarantees for securitization of SME loan portfolios. The EFG focuses equity investments into risk capital funds that support SMEs in their growth phase. The overall target is to provide support to up to 330,000 SMEs and €25 billion in financing.
The document summarizes information about the Credit Guaranty Agency, a non-banking deposit and credit institution established by the Russian government to support small and medium enterprises. The Agency provides bank guarantees to split credit risks and expand SME access to long-term loans. It aims to increase SME lending, develop Russia's national guaranty system, and support over 120,000 new jobs and billions in investments for SMEs by 2019. The Agency offers various guaranty products and has already enabled SMEs to raise over 35 million euros in loans to invest, modernize, and expand operations across multiple industries.
The Portuguese Mutual Guarantee Scheme (PMGS) has operated for 20 years from 1994 to 2014. It provides guarantees to small and medium enterprises throughout Portugal to support employment, exports, and economic growth. The PMGS works through several Mutual Guarantee Societies that cover different regions of Portugal as well as Agrogarante which supports the rural economy nationwide. It also manages a Mutual Counter Guarantee Fund that backs the guarantees issued. Internationally, the PMGS has helped establish guarantee schemes in Cape Verde, Mozambique, and Angola by providing legal and institutional support as well as staff training.
The document summarizes the historical development and activities of the Croatian Agency for SMEs, Innovations and Investments. It was established in 1994 and has since supported SME development through guarantee programs, grants, consultancy services, and other financing programs. It issues guarantees for bank loans to SMEs under EU state aid rules. It also recently introduced equity guarantees and microloan programs. Going forward, it will play a central role in supporting entrepreneurship through the implementation of €1 billion in EU structural funds for 2014-2020.
Kurt Leutgeb (Austria Wirtschaftsservice, aws) - session 16/04/2015
Kurt Leutgeb's presentation at the Operational Training Session held on the 16/17 April 2015 in Maribor.
(a new version of this presentation was uploaded on 2/07/2015 to include more data)
KOTEC was founded in 1989 by the Korean government to enhance technological competitiveness and development. It launched a technology appraisal system to systematically evaluate technologies. The appraisals result in reports that rate technologies or assign monetary values, which are important factors for banks' loan decisions and the purchase/transfer of technologies. KOTEC has over 530 in-house experts and 1,000 advisors who appraise technologies using the KOTEC Technology Rating System (KTRS) across its 52 appraisal centers. The KTRS evaluates applicants on 34 indices across 4 categories to determine credit guarantee eligibility.
COSME is the first European program dedicated solely to supporting SMEs from 2014-2020 with a total budget of €2.5 billion, 60% of which supports financial instruments. These instruments include the Loan Guarantee Facility (LGF) and Equity Facility for Growth (EFG). The LGF provides guarantees and counter-guarantees to financial intermediaries providing loans to SMEs, as well as guarantees for securitization of SME loan portfolios. The EFG focuses equity investments into risk capital funds that support SMEs in their growth phase. The overall target is to provide support to up to 330,000 SMEs and €25 billion in financing.
The document summarizes information about the Credit Guaranty Agency, a non-banking deposit and credit institution established by the Russian government to support small and medium enterprises. The Agency provides bank guarantees to split credit risks and expand SME access to long-term loans. It aims to increase SME lending, develop Russia's national guaranty system, and support over 120,000 new jobs and billions in investments for SMEs by 2019. The Agency offers various guaranty products and has already enabled SMEs to raise over 35 million euros in loans to invest, modernize, and expand operations across multiple industries.
The Portuguese Mutual Guarantee Scheme (PMGS) has operated for 20 years from 1994 to 2014. It provides guarantees to small and medium enterprises throughout Portugal to support employment, exports, and economic growth. The PMGS works through several Mutual Guarantee Societies that cover different regions of Portugal as well as Agrogarante which supports the rural economy nationwide. It also manages a Mutual Counter Guarantee Fund that backs the guarantees issued. Internationally, the PMGS has helped establish guarantee schemes in Cape Verde, Mozambique, and Angola by providing legal and institutional support as well as staff training.
Astrid Bartels works in the Directorate General for the Internal Market, Industry, Entrepreneurship and SMEs of the European Commission. She has been with the COSME Financial Instruments unit for the past three years where she is responsible for the co-ordination of the implementation of the COSME Financial Instruments. Prior to this position, she worked in the area of chemicals legislation where she was instrumental to the setting up of the European Chemicals Agency in Helsinki.
Before joining the European Commission she was a corporate relationship manager with Deutsche Bank for ten years and spent two years as a Management Consultant with Bain & Company. She holds an MBA from the Kenan-Flagler Business School of the University of North Carolina in Chapel Hill.
Vice President of the Management Board, Bank Gospodarstwa Krajowego (State Development Bank), responsible for Corporate Banking Division, including relationship management, structured finance, export finance, product development and guarantee programs for SMEs.
Responsible for client base including both mid-caps and large corporates as well as public sector and financial institutions. Vice Chairman of bank’s Credit Committee, Member of Operational Risk Committee.
He has previously been Executive Director at bank PKO BP S.A. , General Manager and President of the Management Board of Rabobank Polska S.A., Senior Corporate and Investment Banker, Member of the Management Board of ABN AMRO Bank (Polska S.A)., Sales and Product Head for CEE Region Global Transaction Services (ABN AMRO Bank N.V. Head Office, the Netherlands), Deputy Director Corporate Banking (Citibank Poland S.A.) and Division Head (National Bank of Poland, Foreign Department).
Mr Szugajew participates in enhancement of corporate and investment banking operations, building local (Poland) and regional (CEE) corporate banking franchise, while working for leading international and Polish banks.
- Globally, guarantee systems are a heterogeneous and internationally recognized reality that help improve access to financing for SMEs.
- Conceptually, guarantee systems help address information asymmetries between lenders and SMEs and can help classify risk to optimize financial institutions' management and regulatory requirements.
- Strategically, guarantee systems should be fully integrated into the financial system through a "strategic alliance" to best transfer credit risk from banks to the guarantee system and promote SME access to financing.
The document summarizes Lucia Cusmano's presentation at the AECM Annual Seminar in Berlin on June 19, 2015 about building a conducive environment for innovative small- and medium-sized enterprises (SMEs). It discusses challenges SMEs face such as access to finance and regulations, and how business investments have shifted to non-OECD countries. It also outlines an OECD project to benchmark SME performance and business environment policies across countries to help address these challenges.
Alessandro Carano is Adviser to the deputy Director General of the European Commission Directorate for Economic and Financial Affairs. He works on the Investment Plan for the Europe and the European Fund for Strategic Investment.
He was previously Managerial adviser and Head of Unit at European Investment Bank, responsible for the institutional relationship with EU Institutions and other IFIs on policies and activities outside the EU. He led the negotiations on the new EIB External Lending Mandate for the period 2014-2020, allowing up to EUR 30bn in EIB financing in support of EU external action. He contributed to the establishment of the Western Balkans Investment Framework and other blending mechanisms. He worked on the Mid Term review of EIB external mandate including support to the steering committee of wise persons chaired by M. Camdessus, and subsequent codecision procedure. He has also worked in the Projects directorate of the EIB. Previously he worked for Procter & Gamble. He holds an MBA from Vlerick management school and engineering MSc degree from Turin Politechnic University.
Le Fonds Bruxellois de Garantie a pour mission de faciliter l’octroi de crédits professionnels dans la Région de Bruxelles-Capitale en fournissant aux organismes de crédit, moyennant le paiement d’une contribution forfaitaire unique, une part substantielle des garanties qu’ils exigent des PME et des indépendants.
Since October 2011 Alexander Schumann is Chief Economist and Head of Economic Policy Department at the Association of German Chambers of Industry and Commerce.
Previously, from 2006 to 2011, he was Head of Strategic Unit at the Federal Labour Agency, from 2005 to 2006 Project Manager at the Department of Economic and Social Policy Affairs of the Bertelsmann Foundation, from 2004 to 2005 Economist at the Banco Espírito Santo in Lisbon.
Alexander Schumann started his career as an editor at a newspaper and worked later also in the area of public relations. He studied Economics and made his PhD at the universities of Leipzig and Lisbon and worked as research associate.
- The InnovFin SME Guarantee will boost the successful RSI pilot guarantee scheme under FP7 by almost 4 times, enabling €9-10 billion of financing for innovative SMEs and small mid-caps over 9 years.
- It will be deployed across the EU and associated countries through 50-70 financial intermediaries to provide guarantees and counter-guarantees improving SME access to debt financing.
- The EIB Group will implement InnovFin through a delegation agreement with the EU, acting as an entrusted entity to risk share and match the EU's financial contribution.
The SOCAMA network is a mutual guarantee organization established in France in 1917 to facilitate access to bank loans for small businesses. It consists of 26 regional organizations that guarantee over 25,000 loans worth €700-900 million annually. SOCAMA works exclusively with Banque Populaire banks to reduce collateral requirements and protect entrepreneurs' personal assets. With support from the European Investment Fund, SOCAMA offers two loan products - one for business growth and another for business transfers - that provide a 100% guarantee and limit recourse to personal assets. SOCAMA has seen strong growth in loan production since 2003 thanks to these new products but activity decreased during the financial crisis before a slight rebound in 2010. SOCAMA's expertise
The EBRD provides trade finance and guarantees to support trade. It has agreements with over 100 local issuing banks in 20 countries and over 800 confirming banks globally. The EBRD guarantees political and commercial payment risks to facilitate trade transactions. It also provides cash facilities to local banks to finance post-import transactions. The EBRD has supported over 13,500 trade transactions totaling €8.8 billion since 1999. It also provides trade finance training to local banks. The panel discussion will focus on the role of multilateral institutions like the EBRD in developing external trade.
Vice President
Fédération Nationale des SOCAMA, France
Plumbing and heating professional in Mende, Jean-Claude Depoisier is Administrator of SOCAMA for the Midi region. Born in 1949, he entered the Board of the National Federation of Socama in 1996 and became its Secretary in 2000. Assistant Treasurer in 2007, he is part of the council secretariat in 2008 and becomes Vice President in 2012.
He is Chairman of the Social Security Fund of the Municipality of Lozère (CPAM + CAF + URSSAF) and of CAP Employment.
The document discusses several financial engineering measures in Lithuania aimed at promoting entrepreneurship, including the Entrepreneurship Promotion Fund. The fund provides start-up credits for small and medium enterprises (SMEs) of up to 25,000 euros each through agreements between INVEGA and credit unions. So far over 2,000 individuals have participated in entrepreneurship training through the fund, and 9 loans have been disbursed while 8 guarantees have been issued on fund loans. The overall budget for the Entrepreneurship Facilitation Fund is 15 million euros from the European Social Fund through 2015.
Madis Müller. Finance Estonia Forum 2014Eesti Pank
The document discusses recent developments in the European financial system. It notes that government bond yields have declined due to accommodative monetary policy. However, interest rates on loans to corporations still vary substantially between countries. While the European Central Bank has implemented new supervisory mechanisms, banks continue struggling with bad loans and weak profitability. The document also examines the Estonian banking sector, which has strong capitalization and profitability compared to other countries. It notes early promising signs of growth in alternative funding sources for Estonian businesses like private equity funds, but the capital markets remain underdeveloped.
Madis Müller. Estonian financial sector – recent developments and the changin...Eesti Pank
The document summarizes recent developments in Estonia's financial sector and the changing role of Eesti Pank (the central bank of Estonia). It notes that Estonia's banking sector is dominated by Nordic banks and that credit growth is slowing while the real estate market is recovering. It discusses Eesti Pank taking on new responsibilities for macroprudential supervision and the implications of the new Single Supervisory Mechanism for oversight of Nordic bank subsidiaries in Estonia. Close cooperation will be needed between Nordic and Baltic authorities and the European Central Bank as financial supervision responsibilities are merged.
Access to Finance for the European Audiovisual Sector: from MEDIA Programme t...Olga Sismanidi
The document summarizes EU programs that provide access to finance for the European audiovisual sector, including the MEDIA Plus, MEDIA 2007, and upcoming Creative Europe programs. It describes two main financial instruments under MEDIA 2007 - the i2i Audiovisual program, which supported financing costs and risk guarantees, and the MEDIA Production Guarantee Fund. The Creative Europe program will introduce a Cultural and Creative Sector Guarantee Facility to provide loans and risk sharing for cultural SMEs through financial intermediaries.
The document summarizes several EU guarantee facilities under the Programme for Employment and Social Innovation. It outlines the budgets, eligibility criteria, loan amounts, and guarantee parameters for the Guarantee Facility, Student Loan Guarantee Facility, and Cultural and Creative Sectors Guarantee Facility. It also describes the "Off-the-shelf" instruments that can be funded through European Structural and Investment Funds, including eligibility for SMEs and maturity periods of 12-120 months.
Seget - informations for investors (final)Davorin Rimac
The document provides information for investors about a proposed project to develop a 5-star health and medical tourism hotel in Seget Donji, Croatia called "Healthy Living Center Seget". The project will be co-developed by Studio XXL, an architectural firm, and seeks a co-investor to contribute between 0.75 to 1 million EUR. Key details include the 3.3 hectare plot of land, a 5,115 square meter building with 52 rooms, facilities like conference halls and a spa, and planned construction from January 2015 to summer 2016. Studio XXL has obtained some government grants and loans and estimates the minimum value of their investment after completion will be between 5.5 to 6.5 million
The document discusses the EBRD's Trade Facilitation Program (TFP) and its role in developing trade finance in Mongolia. It provides an overview of the EBRD, including that it is an international financial institution that promotes transition to market economies in 29 countries. The TFP supports trade by providing guarantees for trade finance transactions and cash advances/financing. It has supported over 1,274 transactions in 2010, mostly for amounts under 1 million Euros. In Mongolia, the TFP currently works with 2 issuing banks and has connections to confirming banks in 77 countries to facilitate international trade. A panel discussion on further developing Mongolian trade finance is outlined.
The document discusses the EBRD's Trade Facilitation Program (TFP) and its role in developing trade finance in Mongolia. It provides an overview of the EBRD, including that it is an international financial institution that promotes transition to market economies in 29 countries. The TFP supports trade by providing guarantees for trade finance transactions and cash advances/financing. In 2010, the TFP facilitated 1274 transactions across multiple countries, with most transactions under 1 million Euros supporting small and medium enterprises. The TFP has been active in Mongolia since 2007 and has provided over 300 million Euros in financing. A panel discussion on further developing Mongolian trade finance is outlined.
Investerarpresentation Tokyo 7-8 maj 2012Riksgälden
The Kingdom of Sweden's National Debt Office manages central government debt and provides banking services. Its objectives are to minimize long-term costs while maintaining stability. Sweden has strong finances with debt around 30% of GDP and budget surpluses. The Debt Office focuses on nominal bonds to defend liquidity and gradually increases long-dated bonds and foreign currency issues to support the central bank reserve.
The document summarizes Deutsche EuroShop's nine-month report for 2010. It discusses progress on construction projects, acquisitions of additional stakes in shopping centers, and the acquisition of the Billstedt-Center. Key financial figures such as revenues, profits, and debt are presented. Forecasts show expected continued growth in revenues, earnings, and net asset value through 2011.
Astrid Bartels works in the Directorate General for the Internal Market, Industry, Entrepreneurship and SMEs of the European Commission. She has been with the COSME Financial Instruments unit for the past three years where she is responsible for the co-ordination of the implementation of the COSME Financial Instruments. Prior to this position, she worked in the area of chemicals legislation where she was instrumental to the setting up of the European Chemicals Agency in Helsinki.
Before joining the European Commission she was a corporate relationship manager with Deutsche Bank for ten years and spent two years as a Management Consultant with Bain & Company. She holds an MBA from the Kenan-Flagler Business School of the University of North Carolina in Chapel Hill.
Vice President of the Management Board, Bank Gospodarstwa Krajowego (State Development Bank), responsible for Corporate Banking Division, including relationship management, structured finance, export finance, product development and guarantee programs for SMEs.
Responsible for client base including both mid-caps and large corporates as well as public sector and financial institutions. Vice Chairman of bank’s Credit Committee, Member of Operational Risk Committee.
He has previously been Executive Director at bank PKO BP S.A. , General Manager and President of the Management Board of Rabobank Polska S.A., Senior Corporate and Investment Banker, Member of the Management Board of ABN AMRO Bank (Polska S.A)., Sales and Product Head for CEE Region Global Transaction Services (ABN AMRO Bank N.V. Head Office, the Netherlands), Deputy Director Corporate Banking (Citibank Poland S.A.) and Division Head (National Bank of Poland, Foreign Department).
Mr Szugajew participates in enhancement of corporate and investment banking operations, building local (Poland) and regional (CEE) corporate banking franchise, while working for leading international and Polish banks.
- Globally, guarantee systems are a heterogeneous and internationally recognized reality that help improve access to financing for SMEs.
- Conceptually, guarantee systems help address information asymmetries between lenders and SMEs and can help classify risk to optimize financial institutions' management and regulatory requirements.
- Strategically, guarantee systems should be fully integrated into the financial system through a "strategic alliance" to best transfer credit risk from banks to the guarantee system and promote SME access to financing.
The document summarizes Lucia Cusmano's presentation at the AECM Annual Seminar in Berlin on June 19, 2015 about building a conducive environment for innovative small- and medium-sized enterprises (SMEs). It discusses challenges SMEs face such as access to finance and regulations, and how business investments have shifted to non-OECD countries. It also outlines an OECD project to benchmark SME performance and business environment policies across countries to help address these challenges.
Alessandro Carano is Adviser to the deputy Director General of the European Commission Directorate for Economic and Financial Affairs. He works on the Investment Plan for the Europe and the European Fund for Strategic Investment.
He was previously Managerial adviser and Head of Unit at European Investment Bank, responsible for the institutional relationship with EU Institutions and other IFIs on policies and activities outside the EU. He led the negotiations on the new EIB External Lending Mandate for the period 2014-2020, allowing up to EUR 30bn in EIB financing in support of EU external action. He contributed to the establishment of the Western Balkans Investment Framework and other blending mechanisms. He worked on the Mid Term review of EIB external mandate including support to the steering committee of wise persons chaired by M. Camdessus, and subsequent codecision procedure. He has also worked in the Projects directorate of the EIB. Previously he worked for Procter & Gamble. He holds an MBA from Vlerick management school and engineering MSc degree from Turin Politechnic University.
Le Fonds Bruxellois de Garantie a pour mission de faciliter l’octroi de crédits professionnels dans la Région de Bruxelles-Capitale en fournissant aux organismes de crédit, moyennant le paiement d’une contribution forfaitaire unique, une part substantielle des garanties qu’ils exigent des PME et des indépendants.
Since October 2011 Alexander Schumann is Chief Economist and Head of Economic Policy Department at the Association of German Chambers of Industry and Commerce.
Previously, from 2006 to 2011, he was Head of Strategic Unit at the Federal Labour Agency, from 2005 to 2006 Project Manager at the Department of Economic and Social Policy Affairs of the Bertelsmann Foundation, from 2004 to 2005 Economist at the Banco Espírito Santo in Lisbon.
Alexander Schumann started his career as an editor at a newspaper and worked later also in the area of public relations. He studied Economics and made his PhD at the universities of Leipzig and Lisbon and worked as research associate.
- The InnovFin SME Guarantee will boost the successful RSI pilot guarantee scheme under FP7 by almost 4 times, enabling €9-10 billion of financing for innovative SMEs and small mid-caps over 9 years.
- It will be deployed across the EU and associated countries through 50-70 financial intermediaries to provide guarantees and counter-guarantees improving SME access to debt financing.
- The EIB Group will implement InnovFin through a delegation agreement with the EU, acting as an entrusted entity to risk share and match the EU's financial contribution.
The SOCAMA network is a mutual guarantee organization established in France in 1917 to facilitate access to bank loans for small businesses. It consists of 26 regional organizations that guarantee over 25,000 loans worth €700-900 million annually. SOCAMA works exclusively with Banque Populaire banks to reduce collateral requirements and protect entrepreneurs' personal assets. With support from the European Investment Fund, SOCAMA offers two loan products - one for business growth and another for business transfers - that provide a 100% guarantee and limit recourse to personal assets. SOCAMA has seen strong growth in loan production since 2003 thanks to these new products but activity decreased during the financial crisis before a slight rebound in 2010. SOCAMA's expertise
The EBRD provides trade finance and guarantees to support trade. It has agreements with over 100 local issuing banks in 20 countries and over 800 confirming banks globally. The EBRD guarantees political and commercial payment risks to facilitate trade transactions. It also provides cash facilities to local banks to finance post-import transactions. The EBRD has supported over 13,500 trade transactions totaling €8.8 billion since 1999. It also provides trade finance training to local banks. The panel discussion will focus on the role of multilateral institutions like the EBRD in developing external trade.
Vice President
Fédération Nationale des SOCAMA, France
Plumbing and heating professional in Mende, Jean-Claude Depoisier is Administrator of SOCAMA for the Midi region. Born in 1949, he entered the Board of the National Federation of Socama in 1996 and became its Secretary in 2000. Assistant Treasurer in 2007, he is part of the council secretariat in 2008 and becomes Vice President in 2012.
He is Chairman of the Social Security Fund of the Municipality of Lozère (CPAM + CAF + URSSAF) and of CAP Employment.
The document discusses several financial engineering measures in Lithuania aimed at promoting entrepreneurship, including the Entrepreneurship Promotion Fund. The fund provides start-up credits for small and medium enterprises (SMEs) of up to 25,000 euros each through agreements between INVEGA and credit unions. So far over 2,000 individuals have participated in entrepreneurship training through the fund, and 9 loans have been disbursed while 8 guarantees have been issued on fund loans. The overall budget for the Entrepreneurship Facilitation Fund is 15 million euros from the European Social Fund through 2015.
Madis Müller. Finance Estonia Forum 2014Eesti Pank
The document discusses recent developments in the European financial system. It notes that government bond yields have declined due to accommodative monetary policy. However, interest rates on loans to corporations still vary substantially between countries. While the European Central Bank has implemented new supervisory mechanisms, banks continue struggling with bad loans and weak profitability. The document also examines the Estonian banking sector, which has strong capitalization and profitability compared to other countries. It notes early promising signs of growth in alternative funding sources for Estonian businesses like private equity funds, but the capital markets remain underdeveloped.
Madis Müller. Estonian financial sector – recent developments and the changin...Eesti Pank
The document summarizes recent developments in Estonia's financial sector and the changing role of Eesti Pank (the central bank of Estonia). It notes that Estonia's banking sector is dominated by Nordic banks and that credit growth is slowing while the real estate market is recovering. It discusses Eesti Pank taking on new responsibilities for macroprudential supervision and the implications of the new Single Supervisory Mechanism for oversight of Nordic bank subsidiaries in Estonia. Close cooperation will be needed between Nordic and Baltic authorities and the European Central Bank as financial supervision responsibilities are merged.
Access to Finance for the European Audiovisual Sector: from MEDIA Programme t...Olga Sismanidi
The document summarizes EU programs that provide access to finance for the European audiovisual sector, including the MEDIA Plus, MEDIA 2007, and upcoming Creative Europe programs. It describes two main financial instruments under MEDIA 2007 - the i2i Audiovisual program, which supported financing costs and risk guarantees, and the MEDIA Production Guarantee Fund. The Creative Europe program will introduce a Cultural and Creative Sector Guarantee Facility to provide loans and risk sharing for cultural SMEs through financial intermediaries.
The document summarizes several EU guarantee facilities under the Programme for Employment and Social Innovation. It outlines the budgets, eligibility criteria, loan amounts, and guarantee parameters for the Guarantee Facility, Student Loan Guarantee Facility, and Cultural and Creative Sectors Guarantee Facility. It also describes the "Off-the-shelf" instruments that can be funded through European Structural and Investment Funds, including eligibility for SMEs and maturity periods of 12-120 months.
Seget - informations for investors (final)Davorin Rimac
The document provides information for investors about a proposed project to develop a 5-star health and medical tourism hotel in Seget Donji, Croatia called "Healthy Living Center Seget". The project will be co-developed by Studio XXL, an architectural firm, and seeks a co-investor to contribute between 0.75 to 1 million EUR. Key details include the 3.3 hectare plot of land, a 5,115 square meter building with 52 rooms, facilities like conference halls and a spa, and planned construction from January 2015 to summer 2016. Studio XXL has obtained some government grants and loans and estimates the minimum value of their investment after completion will be between 5.5 to 6.5 million
The document discusses the EBRD's Trade Facilitation Program (TFP) and its role in developing trade finance in Mongolia. It provides an overview of the EBRD, including that it is an international financial institution that promotes transition to market economies in 29 countries. The TFP supports trade by providing guarantees for trade finance transactions and cash advances/financing. It has supported over 1,274 transactions in 2010, mostly for amounts under 1 million Euros. In Mongolia, the TFP currently works with 2 issuing banks and has connections to confirming banks in 77 countries to facilitate international trade. A panel discussion on further developing Mongolian trade finance is outlined.
The document discusses the EBRD's Trade Facilitation Program (TFP) and its role in developing trade finance in Mongolia. It provides an overview of the EBRD, including that it is an international financial institution that promotes transition to market economies in 29 countries. The TFP supports trade by providing guarantees for trade finance transactions and cash advances/financing. In 2010, the TFP facilitated 1274 transactions across multiple countries, with most transactions under 1 million Euros supporting small and medium enterprises. The TFP has been active in Mongolia since 2007 and has provided over 300 million Euros in financing. A panel discussion on further developing Mongolian trade finance is outlined.
Investerarpresentation Tokyo 7-8 maj 2012Riksgälden
The Kingdom of Sweden's National Debt Office manages central government debt and provides banking services. Its objectives are to minimize long-term costs while maintaining stability. Sweden has strong finances with debt around 30% of GDP and budget surpluses. The Debt Office focuses on nominal bonds to defend liquidity and gradually increases long-dated bonds and foreign currency issues to support the central bank reserve.
The document summarizes Deutsche EuroShop's nine-month report for 2010. It discusses progress on construction projects, acquisitions of additional stakes in shopping centers, and the acquisition of the Billstedt-Center. Key financial figures such as revenues, profits, and debt are presented. Forecasts show expected continued growth in revenues, earnings, and net asset value through 2011.
Investment into the Irish Film Industry that attracts a tax credit against your 2010 income tax. For further details please return the expression of interest document before 15th September 2010.
The document provides information about export credit financing for projects involving Finnish exporters. It lists several example projects that received financing support from Finnish Export Credit Ltd and Finnvera. The projects are power generation projects located in Indonesia that involved Finnish technology and equipment suppliers like Wartsila. The financing structures typically involve an EPC contractor, export credit agency guarantees, commercial banks, and a local IPP project company as the buyer and borrower. Environmental and social due diligence is required for the largest projects classified in category A. CIRR interest rates and OECD guidelines are also referenced in regards to establishing financing terms for export credit agencies.
The document summarizes a panel discussion on utilizing international partnerships to extend access to trade finance. It provides background on the European Bank for Reconstruction and Development (EBRD), including that it is an international financial institution that promotes market economies in 34 countries. The EBRD's Trade Facilitation Programme (TFP) provides guarantees and financing to local banks to support international trade. The TFP has supported over 15,000 transactions worth over EUR 9.5 billion involving over 150 local banks and 400 international confirming banks. Examples are provided of how the TFP facilitates international trade transactions.
This document provides an overview of project financing. It discusses that large construction projects are usually sponsored by governments for infrastructure like roads, airports, and power plants. Project financing involves non-recourse loans that are backed by the government but have no clear immediate return. Banks facilitate these large loans by forming syndicates to distribute the risk. The loans are repaid over time through potential revenue streams generated by the project.
The document provides an overview of the activities of AECM (Association of European Guarantee Institutions) from June 2018 to June 2019. It summarizes that AECM focused on future EU financial instruments, digitization, communication, impact measurement, statistics, and strengthening membership. It also discusses AECM's engagement in international relations and the exchange of best practices. Upcoming priorities include further political representation, digitization, impact assessment, statistics, and international collaboration.
AECM Annual Event in Antwerp 2019 (12/15 June)
Helen Kopman, Deputy Head of Unit, Digital Innovation and Blockchain, Directorate-General for Communications Networks, Content and Technology (DG CNECT), European Commission.
AECM Annual Event in Antwerp 2019 (12/15 June)
Holger Wassermann, Professor for Controlling and Accounting, FOM University of Applied Science, Berlin
Sascha Frohwerk, Professor for IT-Management, FOM University of Applied Science, Berlin
Leonardo Nafissi has gained an experience of over 25 years about Confidi and works both in regional and national contexts. He’s member of the Technical Committee of Assoconfidi and since 2013 he has been head of Assoconfidi’s Secretariat. Assoconfidi is the Association of the National Federations of Confidi of all economic sectors and operates as a unanimous representative of Confidi towards national public Institutions.
At the same time Leonardo Nafissi is the Director of Fedart Fidi, the national Federation representative of Confidi operating in the craftsmanship sector, which he has been collaborating with since its constitution more than 20 years ago. He’s responsible for lobbying towards public institutions and banks, for several national projects aimed to elaborate a strategic address for associated Confidi on the main subjects of their interest. He is also responsible for the Annual Survey on handcraft Confidi, which for more than 20 years has been describing the main characteristics and trends of the system and has been identified as an important instrument of knowledge of handcraft Confidi for the different representatives.
This document provides information about the Guarantee Fund of the Autonomous Province of Vojvodina in Serbia. It summarizes the fund's purpose, governance structure, business processes, and key performance metrics from 2005-2014. The fund issues guarantees to support agriculture, exports, and women entrepreneurs in Vojvodina. Over this period, it issued over 1,500 guarantees totaling over 35 million euros. The largest areas of support were procurement of agricultural machinery and purchase of agricultural land. In 2014, the fund had 10.2 million euros in exposure and a guarantee potential of over 20 million euros.
Leonardo Nafissi has gained an experience of over 25 years about Confidi and works both in regional and national contexts. He’s member of the Technical Committee of Assoconfidi and since 2013 he has been head of Assoconfidi’s Secretariat. Assoconfidi is the Association of the National Federations of Confidi of all economic sectors and operates as a unanimous representative of Confidi towards national public Institutions.
At the same time Leonardo Nafissi is the Director of Fedart Fidi, the national Federation representative of Confidi operating in the craftsmanship sector, which he has been collaborating with since its constitution more than 20 years ago. He’s responsible for lobbying towards public institutions and banks, for several national projects aimed to elaborate a strategic address for associated Confidi on the main subjects of their interest. He is also responsible for the Annual Survey on handcraft Confidi, which for more than 20 years has been describing the main characteristics and trends of the system and has been identified as an important instrument of knowledge of handcraft Confidi for the different representatives.
Pietro Calice is a Senior Financial Sector Specialist with the Finance & Markets Global Practice of the World Bank Group. In his capacity, Pietro manages the financial sector development work program in Libya, Palestinian Territories and Saudi Arabia. He also manages regional and global engagements. In particular, Pietro specializes on SME finance, state-owned financial institutions, including credit guarantee schemes, and bank competition policy. He has written extensively on financial stability issues and financial inclusion. Prior to joining the World Bank Group, Pietro served in different capacities at the African Development Bank, including as coordinator for the operational work with African development finance institutions, and worked at rating agencies and investment banks as a bank credit analyst. He has an MSc in Banking and Finance, an MPhil in Development Studies and is a PhD candidate in Economics.
Gunnar Mai is heading the EU Guarantee Facilities division at the European Investment Fund and is responsible for managing the COSME Loan Guarantee Facility and Erasmus+ Master Loan Guarantee Facility. His areas of expertise include financial guarantees, securitisation and structured credit products.
Gunnar started his career at Deutsche Bank London providing financing solutions to investors in commercial real estate throughout Europe. After five years at Deutsche, he joined Swiss Reinsurance to work mainly on financial guarantee transactions.
He studied Business Administration at WHU Otto Beisheim School of Management in Germany and Chile and participated in the MBA programme of Cranfield School of Management, England. Gunnar is a CFA Charter holder.
Kurt Leutgeb (Austria Wirtschaftsservice, aws) - session 17/04/2015
Kurt Leutgeb's presentation at the Operational Training Session held on the 16/17 April 2015 in Maribor.
Dieter Fleischer (Bürgschaftsbank Baden-Württemberg GmbH)
Dieter Fleischer's presentation at the Operational Training Session held on the 16/17 April 2015 in Maribor.
This document summarizes the operations of a guarantee fund in Bosnia and Herzegovina. It provides details on the types of loan guarantee facilities available for start-ups, entrepreneurs, agricultural holdings, agriculture, and companies. It outlines the eligibility requirements, maximum guarantee and loan amounts, interest rates, and phases of issuing guarantees. In the first year, the fund issued 37 guarantees totaling over 10 million EUR, with the most going to companies and entrepreneurs.
The document discusses establishing guarantee schemes to support SMEs in partner countries. It provides details on Slovenia Enterprise Fund (SEF)'s comprehensive financial support programs, which include various financial products targeted at SMEs. SEF's active portfolio as of end of 2013 included over 4,000 agreements worth 590 million euros. SEF's support has helped create over 7,300 new jobs and save 88,000 jobs from 2004 to 2013, while increasing company value-added per employee. The document also discusses transferring SEF's successful model to partner countries to support their SME sectors.
The document summarizes Pedro Pisonero Perez's presentation on international guarantee systems at an AECM seminar. It discusses the diversity of guarantee systems globally and provides an overview of formats like guarantee funds, programs, and societies. It then focuses on the Spanish system, highlighting features like limited liability companies called SGRs that provide loan guarantees and advisory services primarily to SMEs. Statistics on the Spanish system show its positive economic and social impacts. The document also discusses the influence of Spanish law on developing guarantee schemes in Latin America and the growth of such systems in supporting small businesses through development banks and governments.
The document summarizes the establishment and operations of the Credit Guarantee Fund of Mongolia (CGFM). It discusses:
1) The legal framework establishing CGFM began in 2004 with pilot programs and was formalized in 2012 with laws establishing CGFM.
2) In 2012-2013, CGFM worked with international organizations to develop effective credit guarantee systems and learned from other countries through knowledge sharing programs.
3) CGFM provides partial credit guarantees of up to 60% for loans to SMEs, with outstanding guarantees growing from $8.7 million in 2014 to $17.4 million in October 2014.
ISMEA is an agency of the Italian Ministry of Agriculture that collects agricultural market and price data. It offers credit, guarantees, insurance, and technical assistance for agriculture. ISMEA's financial arm, SGFA, has established various guarantee schemes including state counterguarantees, first loss guarantees, and portfolio guarantees. In 2010, ISMEA and AECM presented on establishing guarantee schemes at a conference, comparing models from Germany and Portugal. They discussed managing moral hazard and the role of state counterguarantees when setting up these financial programs.
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3. About Wallonia
- Covering a territory of 17,000 km² and home to 3,560,000
people
- Wallonia: About 100,000 enterprises among which more
than 90% of micro-enterprises (employing between 1 and 10
persons)
- GDP 2013 : EUR 84.651 millions
4. SOWALFIN
SOWALFIN is a public limited company created by the Walloon
Government in 2002. Its main shareholder is the Walloon Region.
The company aims to promote the creation, development and
transfer of SME’s in Wallonia by providing specific and tailored
financial products, acting as a one-stop-shop dedicated to the
public financing of SME’s.
Around 1.3 billion € is dedicated to walloon SME financing.
Target:
SME criteria :
- < 250 employees:
- Turnover below EUR 50 millions ;
- or total balance sheet below EUR 43 millions ;
and not being considered as being in financial difficulties
according to European criteria
6. Three main financial activities :
- Partial (up to 75%) and additional direct guarantee (and counter –
guarantee) on bank loans
- Cofinancing (beside bank loans) through subordinated loans
- Venture capital through the coordination of 9 public investment
funds
Subsidiaries:
-SOCAMUT: financing micro-enterprises and self-employed
(micro-credit)
- SOFINEX: financing exportation and internationalisation of
Walloon SMEs
- Novallia: financing innovative projects within SMEs
- Sowaccess: business transfer platform
International:
- Transeo: European association for business transfer
7. 3
La garantie et le
cofinancement
sous forme de
prêt subordonné
de la SOWALFIN,
maison-mère
Direct guarantee for
SMEs 2
8. Partial : 75% maximum of a bank loan
Supplementary : after realization of the collaterals on the bank
loan according to a sharing loss principle
Term : maximum 10 years
Fee (paid « one-shot »):
same term as the bank loan (with a max. of 10 years): annual
guarantee fee of 1 %
Shorter term (with a min. of 1 year): annual guarantee fee of
1,10%
Amount : Maximum EUR 1.500.000 per guarantee (de minimis
European Regulation).
Upfront guarantee: fixed amount and not % (max 25% of a bank
credit with a maximum of EUR 500.000) for investments in
tangibles assets (real estate, machinery, …)
Guarantee on bank loans
9. Granted guarantees as of December 31, 2013
• EUR 430,1 millions covering bank credits amounting to EUR
1.021,71 millions
• 2.498 SME’s
Outstanding amounts as of December 31, 2013
• 918 SME’s for an outstanding amount of EUR 121,93 millions
Per year
350 projects approved by our Credit Comittee
Guarantee since 2002
10. 3
La garantie et le
cofinancement
sous forme de
prêt subordonné
de la SOWALFIN,
maison-mère
Principles of the
Upfront guarantee
and comparison with
the supplementary
guarantee
3
11. Guarantee consists of a fixed amount, not a percentage
Fixed amount : maximum 25 % of nominal amount of the
bank loan with a maximum of € 500,000
Investments in tangible assets only (eg. buildings,
equipment goods,…)
Value of collaterals (estimated by bank) must be superior
or equal to the nominal amount of the SOWALFIN upfront
guarantee
No full coverage of the bank’s net risk at credit issuance
12. Maximum term : to be determined case by case. Nominal
amount of upfront guarantee must never be over 80% of the
remaining balance of the bank loan (European obligation).
Fee: 1.50% of nominal amount of the upfront guarantee
multiplied by duration of the guarantee in full years.
Guarantee not supplementary => direct payement of guarantee
in case of termination of credit or eg. bankruptcy,…
13. Comparison between the supplementary guarantee
and the upfront guarantee
Supplementary guarantee Upfront guarantee
Bank loan (15 y term) € 1,000,000 € 1,000,000
Mortgage (estimated value
of building)
€ 650,000 € 650,000
Bank’s net risk € 350,000 € 350,000
SOWALFIN Guarantee 50% - 6 years € 175,000 - 6 years
Fee rate 1.10% 1.50%
Fee € 27,500 € 15,750
Bank final risk at credit
issuance
€ 175,000 € 175,000
14. Case 1 : realization of building € 650,000
Supplementary guarantee Upfront guarantee
Credit remaining balance at
termination
850,000 850,000
SOWALFIN guarantee 175.000
Realization of building 650,000 650,000 (850,000 – 175,000)
Non covered risk 200,000 (850,000 – 650,000) 25,000 (850,000 – 175,000 – 650,000)
SOWALFIN guarantee 100,000 (200,000 x 50%)
Bank final loss 100,000 (200,000 – 100,000) 25,000
15. Case 2 : realization of building € 675,000
Supplementary guarantee Upfront Guarantee
Credit remaining balance at
termination
850,000 850,000
SOWALFIN guarantee 175,000
Realization of building 675,000 675,000 (850,000 – 175,000)
Non covered risk 175,000 (850,000 – 675,000) 0 (850,000 – 175,000 – 675,000)
SOWALFIN guarantee 87,500 (175,000 x 50%)
Bank final loss 87,500 (175,000 – 87,500) 0
16. Case 3 : realization of building € 600,000
Supplementary guarantee Upfront guarantee
Credit remaining balance at
termination
850,000 850,000
SOWALFIN guarantee 175,000
Realization of building 600,000 600,000(850,000 – 175,000)
Non covered risk 250,000(850,000 – 600,000) 75,000 (850,000 – 175,000 – 600,000)
SOWALFIN guarantee 125,000 (250,000 x 50%)
Bank final loss 125,000( 250,000 – 125,000) 75,000
17. Example : a subordinated loan (SOWALFIN)
together with an upfront guarantee on a
bank loan
An industrial small company takes the opportunity to buy
a warehouse – price: € 870,000 + additional costs €
130,000
- Own share: € 100,000
- SOWALFIN subordinated loan 10 years : € 100,000
- Bank loan 15 years : € 800,000 with upfront guarantee
of 25% for 5 years => € 200,000. Fee € 15,000. Credit also
covered with other collaterals as mortgage and mortgage
mandate, estimated to € 522,000.