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VIENNA ECONOMIC FORUM Go South East

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Working with Black Sea Trade & Development Bank VIENNA ECONOMIC FORUM Go South East Invest in Moldova Invest in the Region Chisinau Meeting 20/21 February ... – PowerPoint PPT presentation

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Title: VIENNA ECONOMIC FORUM Go South East


1
Working with Black Sea Trade Development Bank
  • VIENNA ECONOMIC FORUMGo South East Invest in
    Moldova Invest in the Region
  • Chisinau Meeting 20/21 February 2008

2
BSEC Members - Shareholders of BSTDB
Ukraine
Russia
Moldova
Georgia
Azerbaijan
Romania
Bulgaria
Armenia
Albania
Turkey
Greece
3
BSTDB objectives
  • Facilitation of trade and investment activities
    among Member Countries
  • Promotion of economic prosperity in Member States
    and a strong developmental impact
  • Mobilization of domestic and foreign capital

4
BSTDB in 2007
  • Portfolio (outstanding) US 745 million
  • Portfolio growth 64
  • __________________________________________________
    __________________________________________________
  • Moldova US 17.4 million (2.35)
  • Growth 3.7 times
  • - preliminary estimates

5
BSTDB Products
  • Project finance
  • Corporate lending
  • Asset-based finance
  • Syndicated loans
  • Trade finance
  • Equity investments

6
BSTDB Lending
  • Up to US 36.6 million BSTDB participation
  • Up to 35 of the total project costs
  • Medium to long term maturity depending on type
    and structure of project
  • Pricing and grace period subject to appraisal and
    valuation

7
Equity
  • Up to US 10 million BSTDB participation
  • Minority stake (generally less than 25 and not
    more than 33 of total equity).
  • No direct participation in company management
  • Probable seat on the Board of Directors
  • Possible Put option for BSTDB exit

8
Why BSTDB?
  • Stringent but quick approval process
  • Ability to process small projects
  • Team blending international and local expertise
  • No political or macroeconomic conditionality
    attached to the financing

9
BSTDB Project Cycle
10
Maturity of BSTDB loans
  • Typical 2 - 7 years
  • Possible up to 10 years
  • In exceptional cases more than 10 years

11
BSTDB security requirements
  • Standard pledge of shares, assets,
    corporate/parent guarantees, etc. depending on
    the project
  • In a cross-boarder investment, the security can
    be based in the country of investment
  • While possible, sovereign guarantee is not
    required
  • Unsecured transactions

12
What is the minimum project size BSTDB would
consider?
  • Project Size - 10 million
  • BSTDB participation - 3 million

13
Non-Eligible Goods
  • Weaponry or military goods
  • Tobacco and alcohol related products
  • Negative list of relevant countries
  • Negative list of United Nations economic
    sanctions
  • Negative list of World Bank

14
Eligibility Criteria
  • last 2 - 3 years financial statements audited by
    international auditors
  • has adopted International Accounting Standards
  • have acceptable financial and operational
    performance,

15
  • Thanks from
  • the Banking Division of BSTDB
  • www.bstdb.org
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