The document proposes changing the mission of EximBank Romania into a State Development Bank to improve access to financing for SMEs. It analyzes models like Poland's BGK and recommends adopting a similar model. The bank would provide various financing products and act as an intermediary for European funds, with an estimated impact of €6 billion from 2014-2020. It would focus on priority economic sectors in accordance with government policies while operating according to market principles.
Target2 and the Rollover of Portugal's Public Debt Feb 1, 2014 by Jose Guilhe...José Guilherme Ataíde
Based on recent literature that analyzes the payments system of the eurozone, the text seeks to show how the Portuguese government could use domestic commercial banks and the TARGET2 mechanism to redeem government debt securities held abroad without having to resort to new foreign aid. This procedure would take full advantage of the rules governing cross-border payments inside the euro area and might also pave the way for overcoming the current “austerity” while staying inside the euro.
The Slovak Investment and Trade Development Agency (SARIO) is a government-funded allowance organization that works under the supervision of the Ministry of Economy of the Slovak Republic. SARIO’s primary objective is to improve the standard of living of Slovak citizens by increasing employment and reducing regional disparities.
Mission
The mission of SARIO is to promote growth and economic development, and improve the quality of life in Slovakia.
Vision
SARIO works actively to make the Slovak Republic a country with a well developed economy and an educated population with a high quality of life. In order to achieve these goals, SARIO utilises valuable contacts both in Slovakia and abroad.
Strategic Objectives
-Applying an effective framework for the support of foreign investors and increasing the portion of investors with high value-added production.
-Supporting such export activities of Slovak enterprises that would significantly increase the turnover of Slovak foreign trade.
-Qualified and effective administration of EU Structural Funds, which provide support for activities within the framework of Foreign Direct Investment and Foreign Trade (infrastructure development, intensification of international cooperation, and image-building of the Slovak Republic).
Etude PwC sur les transactions dans les services financiers en Europe au T2 2012PwC France
Sharing Deal Insight fournit des perspectives sur les dernières tendances et les futurs développements dans les services financiers. PwC a analysé les données fournies par mergermarket, Reuters et Dealogic de transactions annoncées et celles en attente de clôture au deuxième trimestre 2012. Les transactions analysées portent sur une part d’acquisition supérieure à 30% - ou sur une part importante donnant le contrôle effectif à l’acquéreur.
Target2 and the Rollover of Portugal's Public Debt Feb 1, 2014 by Jose Guilhe...José Guilherme Ataíde
Based on recent literature that analyzes the payments system of the eurozone, the text seeks to show how the Portuguese government could use domestic commercial banks and the TARGET2 mechanism to redeem government debt securities held abroad without having to resort to new foreign aid. This procedure would take full advantage of the rules governing cross-border payments inside the euro area and might also pave the way for overcoming the current “austerity” while staying inside the euro.
The Slovak Investment and Trade Development Agency (SARIO) is a government-funded allowance organization that works under the supervision of the Ministry of Economy of the Slovak Republic. SARIO’s primary objective is to improve the standard of living of Slovak citizens by increasing employment and reducing regional disparities.
Mission
The mission of SARIO is to promote growth and economic development, and improve the quality of life in Slovakia.
Vision
SARIO works actively to make the Slovak Republic a country with a well developed economy and an educated population with a high quality of life. In order to achieve these goals, SARIO utilises valuable contacts both in Slovakia and abroad.
Strategic Objectives
-Applying an effective framework for the support of foreign investors and increasing the portion of investors with high value-added production.
-Supporting such export activities of Slovak enterprises that would significantly increase the turnover of Slovak foreign trade.
-Qualified and effective administration of EU Structural Funds, which provide support for activities within the framework of Foreign Direct Investment and Foreign Trade (infrastructure development, intensification of international cooperation, and image-building of the Slovak Republic).
Etude PwC sur les transactions dans les services financiers en Europe au T2 2012PwC France
Sharing Deal Insight fournit des perspectives sur les dernières tendances et les futurs développements dans les services financiers. PwC a analysé les données fournies par mergermarket, Reuters et Dealogic de transactions annoncées et celles en attente de clôture au deuxième trimestre 2012. Les transactions analysées portent sur une part d’acquisition supérieure à 30% - ou sur une part importante donnant le contrôle effectif à l’acquéreur.
Resumen, análisis y perspectivas sobre la situación macroeconómica y financiera de España así como sobre las expectativas relacionadas con la actividad de inversión.
This chapter aims to demonstrate the ability of the National Credit Guarantee Fund for Small and Medium Enterprises S.A. IFN (FNGCIMM) to meet the criteria settled by the European regulations in order to be selected by managing authorities in Romania as implementing body foer financial instruments in the form of loan guarantees under the operational programs 2014-2020. The mission of FNGCIMM is to improve access to finance for small and medium enterprises through the issuance of guarantees and undertaking commitments to guarantee loans and other financial instruments. This mission must always be harmonized with policies aimed at the SME sector in line with national and European strategic documents, in the context of the Government Action Program and the objectives and priorities of the Partnership Agreement 2014-2020. In order to emphasize the measures of the Action Plan of the Government, FNGCIMM would be able, in addition to applying the express provisions to strengthen the guarantee instruments to stimulate investment in strategic sectors, recalibrate guarantee products and specialized ones for optimum implementation in the programming period 2014 – 2020 of the financial engineering instruments in the form of loan guarantees to support access to finance mainly to the SME sector.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
Resumen, análisis y perspectivas sobre la situación macroeconómica y financiera de España así como sobre las expectativas relacionadas con la actividad de inversión.
This chapter aims to demonstrate the ability of the National Credit Guarantee Fund for Small and Medium Enterprises S.A. IFN (FNGCIMM) to meet the criteria settled by the European regulations in order to be selected by managing authorities in Romania as implementing body foer financial instruments in the form of loan guarantees under the operational programs 2014-2020. The mission of FNGCIMM is to improve access to finance for small and medium enterprises through the issuance of guarantees and undertaking commitments to guarantee loans and other financial instruments. This mission must always be harmonized with policies aimed at the SME sector in line with national and European strategic documents, in the context of the Government Action Program and the objectives and priorities of the Partnership Agreement 2014-2020. In order to emphasize the measures of the Action Plan of the Government, FNGCIMM would be able, in addition to applying the express provisions to strengthen the guarantee instruments to stimulate investment in strategic sectors, recalibrate guarantee products and specialized ones for optimum implementation in the programming period 2014 – 2020 of the financial engineering instruments in the form of loan guarantees to support access to finance mainly to the SME sector.
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
Commercial banks are intermediators of the interaction between business entities and other economic, legal and social agents. Today, banks do not have the approach towards the classic model, whose function was only to offer classic services of deposits and loans,; with evolution of global trends and technology banks have created nowadays a modern system of operating that applies techniques and methods that are the trend of globalization.
European Banking Barometer – 2016: Seeking stability in an uncertain worldEY
The European Banking Barometer provides an overview of European banking industry, as well as the priorities banks will focus on over in 2016.
Now in its seventh edition, the latest survey consists of 250 interviews with senior bankers across 12 European markets.
Overall, the study shows that the European banking industry is taking measures to reposition for a long-term environment of low growth. But they mustn’t take their focus off the innovation agenda, if they want to lay the foundations for delivering sustainable returns in the years to come.
To find out more please visit http://www.ey.com/ebb.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
1. Changing the Mission
of
EximBank Romania
into
State Development Bank
Sector Focus:
Improoving access to
nance for SMEs
Prepared
by Dr. Diana Valentina Dumitrescu &
Dr. Daniel Ioan Dumitrescu
2016
2. The nancial data of the current Export - Import Bank of Romania and its indicators of solvency (situated
at a high level), represent, along with a diversi ed portfolio of nancial products aimed at supporting the
national economy, important factors in designating this institution as a nancial intermediary of
European funds that will be allocated as nancial instruments in 2014 - 2020.
Following a Polish business model, the current Bank of Export - Import Romania can become by the end
of 2015 a development bank, meaning a nancial institution essential to the smooth running of a
national economy especially in terms of interventionist state policies in times of economic crisis, thus
acting through anti-cyclical lending policies. Although both nancial institutions would have found a
clear purpose in an economy (as a development bank - Development Bank and a bank for Export Import -
Export Credit Agency), this Romanian Lex Ferenda propose a formula that combines features of both
institutions, creating such a nancial institution - bank with state capital that wants to offer nancial
products - bank loans from various co- nancing sources, securities, European nancial instruments etc
After analyzing several business models in EU, among which we note HBOR in Croatia, KfW of Germany,
BDB in Bulgaria, the best suited for Romania objectives of economic development could be the model
BGK, Bank Gospodarstwa Krajowego from Poland. Considering the performance that Poland obtained
as EU member state in the absorption of European structural and cohesion funds 2007 - 2013, it is no
wonder that European funds will be extremely important for the future Romanian Development Bank
Eximbank. In this direction it is estimated that in the Multiannual Financial Framework 2014 - 2020, the
institution will provide co- nancing of European projects representing commitments of our country to
the European Union with an impact estimated at 6 billion euros.
Lex Ferenda
Lex Ferenda
Development Bank
Key facts EximBank
On the other hand, the fundings
entered in default is at a level of
3.1%, well below the average of
other credit institutions in the
market. Compared with the
existing results in the banking
market in Romania, EximBank
enjoys a better pro tability,
which is based on a number of
generally low-risk assets. Also,
as it can be seen below, in Table
1, liquidity ratios and solvency
ratios are in their upper limits.
The indicator on the credit
institution's capital adequacy,
calculated according to the
statute in force at December
2014 show a robust solvency
ratio amounting to 60%.
Between 2012 and 2013, EximBank has seen
an acceleration of its activity, with performance
reaching those of other commercial banks in
Romania. In the last years, the bank managed to
make an important pro t, which in the current
nancial situation is a remarkable performance
itaking into account it is a publicly funded
institution. As shown in Fig. 1 in 2014,
EximBank has reached an exposure of ve
billion lei. From the data published by the
institution, since 2008, the bank's exposure
increased continuesly until present days.
3. Based on the Government Programme into force in 2015, the executive of Romania will submit for approvel in March
2015 a document drafting the future National Bank for Development, which will establish the enlargement of the
mandate of the current Bank of Export - Import, EximBank to achieve development and to update the legislative
framework to match these new activities. The mandate given by the Romanian Government to the future Romanian
Development Bank - Eximbank SA should aim to achieve a number of goals, such as funding priority areas, supporting
Romanian exports and Romanian investments in foreign countries, all contributing to the implementation of EU policy
objectives at local level and the alignment with European and international practices in the eld of nancing for
development and the absorption of EU funds. This institution is intented to remedy market failures regarding private
nancing of SMEs and other actors in Romania. The Development Bank should provide various sources of funding to
develop and implement nancial products speci c to various categories of eligible bene ciaries. To operate within the
law, the Government should repeal the existing law of EximBank (Law 96-2000) in order to regulate in an ef cient and
modern way, based on European best practices, the activities in States Name and Account of this new nancial
institution.
In terms of European
funds, EximBank was
involved in their uptake by
developing and promoting
a package of nancial
products necessary for the
proper implementation of
a European project. As
products speci c to the
cycle management of
European projects, the
institution proposed
Comfort Letters, Pre-
nancing, Co- nancing,
Insurance and other types
of guarantees.
European Funds
The structure of credits on European Projects by industry
Contribution to European funds absorption was performed successfully by EximBank through its nancing products
and speci c guarantees. Thus, for 2014, the institution has mobilized an amount of 103 million lei worth in various
elds as you can see above.
Letters of Comfort issued by EximBank are targeting both SMEs and large companies or other legal entities of public
law which submitted projects that were successful through the evaluation process performed by the management
authorities, and will help them sign the nancing contract.
Pre-loans provide the necessary capital for the period between the payment of invoices by the customer and the
payment of claims for reimbursement made by the management authorities. The maximum loan period is 2 years and
the funding may be granted in euro or lei. This type of loan can cover up to 100% of funding from the management
authority. The repayment of loans is based on the timing of reimbursement from the management authority.
Co- nancing Loans for European projects can cover all the project expenses (eligible and ineligible) and the needed
working capital. Duration of funding depends on the period of project implementation, it can be on short, medium and
long term, and currencies can be lei or euro. During the project implementation, EximBank may grant a grace period.
The value of the loan is capped at 85% of the bene ciary's own contribution.
Term activities to be undertaken by the Development Bank will support the country's sustainable economic
development, while still delivering ensuring a balance between different regions and between different social
categories. Activities will aim at nal's institutions supporting public interest and not pro t, as with other commercial
banks in the market. All activities carried out in the mandate of the Development Bank will be assumed in their entirety
by the Romanian State, he assuming less risk of providing speci c nancial products (loans, insurance policies,
guarantees), but also the bene ts that can come from this activities in behalf of the state.
Romanian Development Bank will play an important role in the absorption of European structural and investment
funds allocated to Romania for the period 2014 - 2020. Thus, the proposed Lex Ferenda for approval of the
Development Bank will manage funds from the European Union that are provided through nancial instruments. The
institution will also play an active role in ensuring co- nancing necessary for the proper implementation of European
projects, both those for small and medium enterprises and large ones or to co- nance infrastructure projects. Term
activities should be directed towards the implementation of those initiatives and investments deemed strategic
European perspective.
4. To clearly de ne the mandate of the future Romanian
Development Bank granted by the Romanian state and to
provide an appropriate framework for its speci c
activities, the draft bill should establish a clear distinction
between commercial banking, entirely subject to
regulatory requirements relevant at local and European
levels of development and the activity of banks operating
as a state representative, af rming the principle of
complementarity between the two activities, and the
support the Development Bank should give to strategic
economic sectors in accordance with national government
policies.
Meanwhile, the draft should de nes the categories of
eligible bene ciaries for various speci c banking products
development banks, focusing on those types of clients
deemed to have a higher risk pro le, but with the
potential for creating added value and jobs. These
categories of bene ciaries may include, but are not limited
to start-ups, small and medium enterprises, and
associations and foundations (NGOs), intra-community
development associations, LAGs or FLAGs, for which the
private nancial market keeps a certain reserve and
distance even in 2015. The Development Bank will offer
the latter, a wide range of nancial products, diverse but
complementary and necessary to run any investment
project, whether nanced from European funds or credits,
co- nancing, re nancing, guarantee loans, insurance
policies or reinsurance.
Key Factors
Structure of exposal on clients types
These products require signi cant nancial resources, the legislature proposing various sources of funding of the
institution. Thus, the Romanian Government should provide resources from the Ministry of Finance, revenues that will
come from privatizations of state enterprises, or nancial resources to be granted by mandate from the various public
authorities, or the Development Bank will use external funding lines from international nancial institutions and other
development banks. Given its status as a development bank acting on behalf of the state, the institution could also
contract reimbursable nancing on behalf of the state, obligations which are assimilated to public debt, and payment of
the debt service will be guaranteed by Romania in case of default.
In this context, the Romanian Bank for Development is intended to receive the management of the project intendeed to
promote small and medium enterprises, stages I, II, III, project involving the administration of the nancial revolving
funds granted by the German Government, by Kreditanstald fur Wiederaufbau (KfW) to the Ministry of Finance during
1998-2008.
Although the credit institution will have public capital, however, it is intended to supplement funding from the state
budget by securing sources of funding to ensure the nancial stability of the institution and to be able to achieve in an
effective way lending targets assumed by law. These additional sources of funding will enable expansion achieved in
speci c account name and other related activities to state and development banks.
Additional funding requirements for carrying out this institution mission is estimated to rise to 796 million lei allocated
by year as follows: 317 million lei in 2017, 240 million lei to 239 million lei in 2018 and 2019. These sources of money
will be made available in the form of nancial investments made by the Romanian State Development Bank. To have no
impact on the budget de cit, the nancing mechanism will be similar to that which had been put so far in funding from
the Export - Import Bank of Romania - Eximbank SA. The Government will be responsible for identifying and
determining the source of budget which will ensure the abovementioned capital. The funds provided from the
Eximbank nancing will be pooled into a common fund after the repeal of Law 96 per 2000 and will be available for
future development banks. An exception shall make KfW revolving funds that will be highlighted individually and will be
repaid in full to the German state.
Structure of EximBank current exposure (2014)
5. The Development Bank will conduct transactions only for legal persons, therefore equity and a funding attracted from clients
considered eligible, may be insuf cient to achieve the objectives set by mandate or inconsistent in terms of liquidity. As with
the current Bank of Export - Import, the Development Bank will not have the legal possibility to attract deposits from
individual customers or from foreign banks, which will result in a lower positioning to other commercial private banks on the
market. Only with alternative sources of nance the Development Bank will maintain adequate liquidity conditions and limits
of its mission according to prudential regulations. However, the Development Bank should not con ict with Romanian and
European legislation providing for clear boundaries in prudential indicators such as indicators which covers liquidity (minimum
100% according to NBR Regulation no. 5 of 2013 and the EU Reg. 575 of 2013 on prudential requirements for credit
institutions addressed) or the minimum level 1 for each maturity band for the liquidity ratio governed by NBR Regulation no.
25 of 2011.
The Development Bank will conduct operations in behalf of the state but also in its own name and account, which requires the
perpetuation of speci c provisions of Eximbank according to which the Ministry of Finance will be able to place available
money in deposits on the basis of an agreement that can be signed between DBR Eximbank and the Ministry.
At the end of 2014, EximBank had an exposure of nancial products in Stats name and account in the amount of 2.353 million
lei or approximately 50% of the institution's total commitments (4.719 million lei). The approval of these three types of
operations in behalf of the state ( nancing, guarantees and insurance) were approved by the Interministerial Committee for
Financing, in accordance with Law 96 of 2000.
Development Bank
Structure of guarantee activity
EximBank's insurance policies are issued in
compliance to the European Commission
granting short-term insurance policies.
EximBank has a cyclical role by acting to
assume those risks that private insurance
market cannot assume. EximBank's
insurance policies relate to risk related to
reimboursment on foreign claims. In
December 2014, the amount of insurance
amounted to 42.3 million lei, an amount
exceeding that of 2013 by 27 million lei.
Export contracts bene ting from these
types of insurance have a value of 160
million lei divided into the following areas:
Guarantees in behalf of the state that Eximbank has granted to 2014 end were in the number of 228, indicating an
upward trend compared to 2013 (180), but their total value is lower by 5% than in 2013, reaching EUR 2.184
million lei. For these guarantees, European funds attracted over 151 million lei and 784 million lei have been
granted to export activities.
6. The loans granted by EximBank in 2014, in behalf of the state, amounted to a value of 127 million lei,
re ecting an increase of 14% from the year 2013. In terms of bene ciaries, the majority is
represented by SMEs accounting for 97% of all bene ciaries.
Loans
Another important product of the portfolio of nancial instruments managed by EximBank is the
interest rate subsidy or compensation interest, subject to product-speci c de minimis aid regulations.
The main bene ciaries of these products were in an overwhelming proportion (88%) SMEs. Only in
2014, over 10.5 million lei were granted as interest subsidies on loans for applicants from other
commercial banks in Romania.
Establishing the Romanian Development Bank Eximbank will have a signi cant impact on growth in the
GDP of Romania and will continue to support Romanian exports and investments abroad, to implement
the objectives of local development and actively participate in improving the absorption of European
funds.
Coordinating and leading the operations of the Development Bank should be granted, under the
legislative proposal, to an Inter-Ministerial Committee for Economic Development, which will be
responsible for carrying out the mandate given by the Romanian State. The committee will be
organized as a body without legal personality with approval powers similar to those in the current
EximBank statute, ie maximum 50 million euro per bene ciary (taken individually or as a group). Any
project that will exceed this value can only be approved by the Romanian Government with the opinion
of the committee.
The commission responsibilities are set out in the draft operating and will consist of the evaluation,
approval and approval of projects submitted for funding and eligible in accordance with the mandate
given by the Romanian State. The committee will have duties in relation to the granting of state
guarantees by the Ministry of Finance , guarantees to loans taken by various economic agents eligible
or by administrative units or other economic actors according to OUG GEO 64 per 2007 on public debt.
The committee is composed of government representatives and representatives of the central bank's
development and CIDE Presidency will be provided by MFP Secretary of State in charge of managing
public debt activities.
Disclaimer:
"The information contained in this report has been produced by European Center for Services Investments and Financing – ECSIF Ltd., based on data imported from different
open data sources and have been interpreted and model by ECSIF. While ECSIF has made every effort to ensure the reliability of the data included in this report, ECSIF cannot
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