european investment bank - introduction to eib loan4smes · 2019. 3. 20. · if applicable projects...
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Introduction to EIB Loan4SMEs
Yerevan
18 November 2016
European Investment Bank
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EIB Loan4SMEs (and MidCaps)
EIB Support to SMEs 1
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Support for a record
124 000 SMEs mainly through MBIL/L4SME
intermediated loans (13% increase on 2014)
These enterprises
employed over
3 million people
EUR 17.7 bn disbursed
to financial intermediaries for
onlending to SMEs
(17% decrease on 2014)
Sustained
high volumes of new operations
approved amounting to
EUR 25.1 bn
Financial intermediaries allocated
a record
EUR 18.8 bn (24% increase on 2014)
EUR 19.8 bn of new operations
signed catalysing financing of at least
EUR 39.6bn
(11% decrease on 2014)
Emphasis on deployment of
joint EU
financial instruments
Ongoing strong cooperation
with public promotional
institutions
Approval of first dedicated
SME operations under EFSI
EIB Support to SMEs Inside EU
Key Figures for 2015
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Support for approx.
6 000 SMEs mainly through MBIL/L4SME intermediated loans, equity and microfinance activities
These enterprises
employed some
280 000 people
EUR 2.3 bn disbursed
to financial intermediaries for
onward financing to SMEs
(29% increase on 2014)
EUR 3 bn of new operations
approved (8% decrease on 2014)
Financial intermediaries allocated
EUR 1.9 bn to SMEs
(same as 2014)
EUR 2.8 bn of new operations
signed catalysing financing of at least
EUR 5.6bn
(7% increase on 2014)
EUR 95 m
signed for 14 new
microfinance operations
expected to support
financially disadvantaged
micro-entrepreneurs
EIB Support to SMEs Outside EU
Key Figures for 2015
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EIB Support to SMEs Outside EU
The EIB's
main achievements in 2015
Supporting SMEs
Supported approx. 6 000 SMEs that employ some 280 000 people.
Partnered with the EC, Member States, international financing institutions and international donors to support private sector development in the regions outside the EU.
Signed 38 new operations for SMEs with EUR 2.8bn in new SME signature volumes accounting for over a third of total EIB signatures outside the EU.
Sustained a record EUR 1.9bn in allocations to final beneficiaries.
Signed 14 new microfinance operations amounting to EUR 95m (144% increase on 2014).
Concluded six new technical assistance agreements for a total amount of EUR 9.4m.
Made new commitments to four SME funds amounting to EUR 67m which aim to make EUR 508m in onward investments to SMEs.
Cooperated with 148 counterparties across all regions outside the EU.
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Loan portfolio to date in
Eastern Neighborhood
and Central Asia
EIB in 2015:
EUR 77.5bn
Outside
EU
EUR
7.8bn
EIB - SME Support in East NC East signed loans – by country
(portfolio EUR 8.1bn)
NC East signed loans – by sector
EIF in 2015:
EUR 7bn
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EIB – Meeting ELM Objectives
Climate
change
adaptation and
mitigation
Development
of social and
economic
infrastructure
Development
of the local
private sector,
in particular
SMEs
External Lending Mandate Priorities:
476
601
832
1,543
881
685 711
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2010 2011 2012 2013 2014 2015 2016
Total signed loans, EUR 5.7bn (EURm)
Support to Private Sector (L4SMEs)
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EIB Support to SMEs
EIB Loan4SMEs (and MidCaps) 2
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EIB Loan for SMEs and MidCaps
Multiple Beneficiary Intermediated Loans (MBILs) focused on SMEs and Mid-Caps for
investments and permanent working capital
EIB Loan for SMEs and MidCaps
Attractive Interest Rates
and Tenors
Transfer of Financial
Advantage
Final Beneficiaries
Eligibility Criteria
Standardized Allocation Process
Sub-Projects Financing
Very attractive interest rates and tenors that may reach up
to 12 years
Eligibility criteria for final beneficiaries are specified in a
Side Letter
EIB checks, ex ante, eligibility of the underlying loans based on
the activity sector of final beneficiaries and other criteria,
if applicable
Financial advantage transferred to final beneficiaries, e.g. lower interest rate and/or extended
maturity
SMEs (< 250 employees) - sub-projects size of up to EUR 25m MidCaps (< 3000 employees) - sub-projects size of up to EUR
50m
EIB’s L4SMEs can finance up to 50% of the SME loan portfolio. Loans for MidCaps can finance up to 50% of underlying sub-
projects
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L4SMEs (and MidCaps) Structures
Two-tier Structure
The Central Bank of the
Republic of Armenia
Financial
Intermediary 2
Financial
Intermediary 1
Financial
Intermediary N
SMEs and MidCaps
PIU - German-Armenian
Fund
Key features
BENEFICIARIES
Loans dedicated generally to SMEs/Mid-Caps or target their specific activities/sectors, e.g. EE/RE, agriculture, etc.
INTERMEDIARIES
A sovereign/sub-sovereign entity on-lending the EIB funds via wide range of local financial intermediaries (e.g. banks, leasing companies, uco , etc.).
ADVANTAGES
Tailored support (including local currency) to particular sectors and defined value chains or in general to SMEs and Mid-Caps depending on governments’ priorities.
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Progress
Intermediaries Progress so far 113 sub-projects Borrower/Promoter
Eligible financial institutions
Signed USD 62.3m in December 2014
Fully allocated
Allocation size from USD 8,400 to 5m
Allocation average size USD 500,000
Central Bank of Armenia
German-Armenian Fund
L4SME/Mid-Caps with the Central Bank of the Republic of Armenia:
Allocations by sector Allocations by purpose
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Technical Assistance
Strengthening
The institutional
capacities of the
financial intermediaries
in the area of
agriculture and tourism
finance
Enhancing
The financial
intermediaries’
capabilities to assess
environmental and
climate risks of
agricultural investments
Improving
The financial literacy of
the final beneficiaries
acting in the
aforementioned sectors
(with particular
emphasis on SMEs run
by women)
Assisting
The PIU (German-
Armenian Fund) in
monitoring activities
and reporting to the EIB
in order to ensure that
sub-projects are
implemented according
to the EIB standards
Supporting
The financial
intermediaries in
developing, monitoring
and increasing of their
sustainable credit
portfolios, particularly in
the agriculture and
tourism sectors
TA for PIU, financial intermediaries and final beneficiaries sponsored by Eastern Partnership Technical Assistance Trust Fund (EPTATF)
TA for PIU and the financial intermediaries from the EIB
A workshop for PIU and the financial intermediaries organised in Yerevan in October 2015
Explanations provided alongside the Side Letter describing the eligibility criteria and governing the allocation process under the loan
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Financial Intermediaries
ACBA-CREDIT AGRICOLE BANK CJSC ARARATBANK CJSC
ACBA LEASING CO CJSC ARDSHINBANK CJSC
AMERIA BANK CJSC ARMBUSINESSBANK CJSC
ARMSWISSBANK CJSC INECOBANK CJSC
CARD AGROCREDIT UNIVERSAL CREDIT ORGANIZATION CJSC HSBC Bank Armenia CJSC
CONVERSE BANK CJSC PROMETEY BANK LLC
FARM CREDIT ARMENIA UCO CC SME INVESTMENTS UCO CJSC
ANELIK BANK CJSC UNIBANK OJSC
ARMECONOMBANK OJSC
Armenia Loan for SMEs – financial intermediaries
http://www.eib.org/attachments/lending/inter_am.pdf
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Thank you for your attention!
Maciej Czura
Loan Officer Lending Operations in Neighbouring Countries, Banks
Phone: (+352) 4379-85179
email: [email protected]
European Investment Bank
98-100, boulevard Konrad Adenauer
L-2950 Luxembourg.