Transcript IfC support to GreeK Companies investing abroad

IFC SUPPORT TO GREEK COMPANIES
INVESTING ABROAD
Export Summit III
Athens
3 December, 2014
IFC: A MEMBER OF THE WORLD BANK GROUP
IBRD
IDA
IFC
MIGA
ICSID
International
Bank for
Reconstruction
and
Development
International
Development
Association
International
Finance
Corporation
Multilateral
Investment
and
Guarantee
Agency
International
Centre for
Settlement of
Investment
Disputes
Loans to
middleincome and
credit-worthy
low-income
country
governments
Interest-free
loans and
grants to
governments
of poorest
countries
Solutions
in
private
sector
development
Guarantees
of foreign
direct
investment’s
noncommercial
risks
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Conciliation
and
arbitration of
investment
disputes
WHAT WE DO
Integrated Solutions, Increased Impact
3 Focus
Industries:
3 Product
Areas:
MANUFACTURING
AGRIBUSINESS &
SERVICES
FINANCIAL INSTITUTIONS
INFRASTRUCTURE AND
NATURAL RESOURCES
INVESTMENT
(Debt, Equity, Trade Finance, Syndications, Securitized
Finance, Risk Management)
ADVICE
(Integrated with IFC Investment)
IFC ASSET MANAGEMENT COMPANY
(Mobilizing and Managing Capital for Investment)
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INVESTMENT
LOANS
 Project and corporate financing
 On-lending through intermediary institutions
EQUITY
 Direct equity investments (up to 20% of company’s
equity)
 Private equity funds
TRADE FINANCE
AND SUPPLY
CHAIN
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Guarantee of trade-related payment obligations of
approved financial institutions
SYNDICATIONS
 Capital mobilization to serve developmental needs
 Over 60 co-financiers: commercial banks, fund, and
DFIs
RISK
MANAGEMENT
SERVICES
Derivative products to hedge interest rate, currency, or
commodity-price exposures of IFC clients
IFC ASSET MANAGEMENT COMPANY
IFC
CAPITALIZATION
FUND
IFC AFRICAN,
LATIN AMERICAN &
CARIBBEAN FUND
AFRICA
CAPITALIZATION
FUND
IFC RUSSIAN BANK
CAPITALIZATION
FUND
IFC GLOBAL
INFRASTRUCTURE
FUND
IFC CATALYST
FUND
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Helps strengthen systemically important banks in emerging
markets, bolstering their ability to cope with financial and
economic downturns
Co-invests with IFC in equity and equity-related investments
across a range of sectors in Sub-Saharan Africa, Latin
America, and the Caribbean
Invests in systemically important commercial banking
institutions in Africa
Invests in commercial banking institutions in Russia
Co-invests with IFC in equity-related investments in the
infrastructure sector in emerging markets
Invests in funds that provide growth capital to companies
developing innovative ways to address climate change in
emerging markets
WHAT CLIENTS VALUE ABOUT IFC
2014 IFC Client Survey
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Long-Term
Partner Role
Stamp of
Approval
Financing
Not Readily
Available
Elsewhere
Worldwide
Presence
Global
Expertise and
Knowledge
Affiliation
with the
World Bank
Group
Ability to
Mobilize
Additional
Funds
Pricing
IFC’S GLOBAL REACH
108 regional offices in 98 countries
worldwide, AAA credit rating
3,879 staff (59% are based outside
Washington DC)
FY14 INVESTMENT COMMITMENTS: $22.4 BILLION
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INVESTMENTS BY INDUSTRY, FY14
COMMITMENTS FOR IFC’S ACCOUNT: $17.3 BILLION
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INVESTMENTS BY REGION, FY14
COMMITMENTS FOR IFC’S ACCOUNT: $17.3 BILLION
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IFC AND GREECE
• IFC Committed Portfolio with Greek sponsors amounted to US$ 545 million as of
September 30, 2014
• Investment through Financial Institutions and to Manufacturing, Agribusiness and Services
(MAS) companies both account for 42% of the Committed Portfolio, followed by
Infrastructure, which represent a smaller piece (16%)
• 100% of the Greek sponsors supported by IFC are doing business in the EMENA region
IFC committed Portfolio with Greek
Sponsors as of 9/30/2014, US$545million
9%
1%
16%
Balkans (Albania,
Macedonia, Kosovo)
Ukraine
Bulgaria
11%
Russia
Turkey
10%
Egypt
16%
8%
Romania
Serbia
13%
Turkey
Greece
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EXAMPLES OF SUCCESSFUL COOPERATION
Banking sector (FY*10-12)
NBG, Eurobank, Alpha Bank and Piraeus Bank
•
In June 2010, IFC’s Board endorsed IFC support to selected subsidiaries of four
Greek banks (NBG, Eurobank EFG, Alpha and Piraeus) in Southern and Eastern
Europe (part of IFC contribution to the Joint IFI Action Plan).
•
Since then, IFC has approved and signed US$ 321 million of the US$ 500 million
facility (approximately 64%), including US$ 197 million in long term finance and US$
124 million in short term finance trade lines under the Global Trade Finance
Program.
* IFC Fiscal Year runs from 1 July to 30 June of the following year
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EXAMPLES OF SUCCESSFUL COOPERATION
Stomana Industry, Bulgarian subsidiary of Sidenor Steel Products Manufacturing
Company (FY03, FY06, FY10)
IFC supported Stomana Industry with three separate investments to help grow its steel
manufacturing operations in Southern Europe:
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FY03: EUR 18.5 million A-loan for Stomana’s capital equipment
modernization plant
•
FY06: contribution of EUR 18 million loan to support the construction of
Stomana’s new rolling mill
•
FY 10: Strengthening Stomana’s balance sheet to by providing a EUR 25
million long-term loan, comprising a EUR 18.75 million C-loan and a EUR
6.25 million A-loan. This investment helped Stomana to better match the
long-term nature productive assets of the company against longer-term
liabilities, and support additional capital investment in machinery and
equipment
EXAMPLES OF SUCCESSFUL COOPERATION
Titan Group (FY09,10,12)
•
FY09: Equity investment of EUR 12.6 million and shareholder loan of EUR 16.8 million
to support the construction of a greenfield state-of-the-art cement plant with production
capacity of 1.4 million tons per year cement in Albania (Antea Cement, subsidiary of
Titan Group).
•
FY10: Follow-up equity of EUR 80 million in 2009 to expand Titan’s Egyptian operation
through a EUR 160 million investment plan in its two entities, Beni Suef Cement
Company and Alexandria Portland Cement Company;
•
FY12: A third equity investment of EUR 50 million to consolidate Titan’s operations in
FYRM, Kosovo and Serbia
IFC’s role in these transactions was three-fold: long-term financier; providing
counseling on environmental and social standards setting: being a strategic partner to
Titan’s entry in other markets.
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CONTACTS
Andrea Engel, Senior Country Officer, IFC Brussels
+32 2 552 00 30
[email protected]
Francesca Carrozza, Analyst, IFC Brussels
+32 2 552 00 40
[email protected]
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