slide 1 - :: opec fund for international development (ofid
TRANSCRIPT
EBRDEBRDTrade Facilitation Programme (TFP)Trade Facilitation Programme (TFP)
www.ebrd.com/tfpwww.ebrd.com/tfp
(all figures as of 31 December 2007)(all figures as of 31 December 2007)
What is the EBRD?What is the EBRD?
0
4
8
12
16
20
24
28
32
36
'99 '00 '01 '02 '03 '04 '05 '06 '07
International financial institution, promotes transition to market economies in 29 countries from central Europe to central Asia
Owned by 61 countries and two inter-governmental institutions
Capital base of €20 billionCumulative commitments
€35 billion
Unaudited September 2007
Shareholding of the EBRDShareholding of the EBRD
September 2007
USA 10.1%
Others 11.27%
Japan 8.61%
EBRD region 7.28%excl EU members
EU [27] countries 62.75%
30 offices in 28 countries of operations30 offices in 28 countries of operations
Albania Armenia Azerbaijan Belarus Bosnia and Herzegovina Bulgaria Croatia Estonia FYR Macedonia Georgia Hungary Kazakhstan Kyrgyz Republic Latvia Lithuania Moldova Mongolia Montenegro Poland Romania Russian Federation Serbia Slovak Republic Slovenia Tajikistan Turkmenistan Ukraine Uzbekistan
Export Production Transport Storage & distribution
Receivables
EBRD Trade Facilitation Programme (TFP)EBRD Trade Facilitation Programme (TFP)
Facilitates financing of all stages of the trade chain
EBRD TFP – Started in 1999 with a global vision!EBRD TFP – Started in 1999 with a global vision!
Case Study: Export of Ethiopian Coffee to ArmeniaCase Study: Export of Ethiopian Coffee to Armenia
An Ethiopian exporter sells coffee to Armenia
Armeconombank opens a confirmed Letter of Credit in favour of the Ethiopian exporter
EBRD guarantees 100% of the political and commercial payment risk
TFP Business Volume p.a. TFP Business Volume p.a. 1999 - December 20071999 - December 2007
0
100
200
300
400
500
600
700
800
Volume, € mln
Global Network of Trade FacilitationGlobal Network of Trade Facilitation
IFI EBRD IFC IDB ADB
Programme Name TFP GTFP TFFP TFFP
Countries of Operation Eastern EuropeCIS Countries
worldwide Latin America Asia
Website www.ebrd.com/tfp www.ifc.org/gtfp www.iadb.org www.adb.org
Programme started in 1999 2005 2005 2004
Number of Transactions since start
6,800 950 266 120
Trade facilitated since start $ 6,000 million $ 1,400 million $ 274 million $ 32 million
Number of Issuing Banks 109 96 29 21
Number of Confirming Banks 643 400 120 65
Countries covered so far 21 53 14 12
EBRD Trade Finance Training CoursesEBRD Trade Finance Training CoursesKyrgyz RepublicKyrgyz Republic
Incoterms 2000
UCP 600
ISP98
URC 522
URDG 458
EBRD Trade Finance Training Courses in AzerbaijanEBRD Trade Finance Training Courses in Azerbaijan
Incoterms 2000
UCP 600
ISP98
URC 522
URDG 458
TFP – TC Funded Trade Finance Consulting TFP – TC Funded Trade Finance Consulting ING IGA - Chelindbank, ChelING IGA - Chelindbank, Chelyabinsk (Russia)yabinsk (Russia)
EBRD Trade Finance Consulting in TajikistanEBRD Trade Finance Consulting in Tajikistan
Vostok Ltd. Tajikistan imports home appliances
Consultants help importers replace cash payments by documentary credits provided by local banks
Consulting services funded by the government of Switzerland
EBRD TFP - First Factoring Operation in Georgia
Tamara Khizanishvili, Mr Ben Hosh and Mr Giorgi Abuladze -the Factoring Manager of Bank of Georgia after finishing the work on Factoring Documentation
Factoring was implemented in Bank of Georgia with technical support of the EBRD and consulting company Triangle Trade Finance, consultant Mr. Ben Hosh. The factoring consultancy services project in Georgia was sponsored by the EU.
Financed with donor funds of the EU
TFP - Supporting SMEs (2007)TFP - Supporting SMEs (2007)
52% of all transactions are below EUR 100,000
634
557
130
100
200
300
400
500
600
700
Number of Transactions
<100,000 0.1 - 5 mln > 5 mln
Amount in EURs
643 Confirming Banks in 77 Countries643 Confirming Banks in 77 Countries
TFP - More than 640 Confirming BanksTFP - More than 640 Confirming Banks
0
50
100
150
200
250
1999 2001 2003 2005 2007
Number of ConfirmingBanks which have usedthe programme
643 confirming banks and subsidiaries in 77 countries, including 23 out of the world's top 25 banks by total assets
EBRD TFP – Top 10 Confirming Banks by EBRD TFP – Top 10 Confirming Banks by Number of transactions in 2007 (2006)Number of transactions in 2007 (2006)
1. Commerzbank (1)
2. Fortis Bank (2)
3. Dresdner Bank (3)
4. Denizbank (7)
5. RZB (-)
6. American Express Bank (10)
7. Yapi ve Kredi Bankasi (10)
8. Turkiye IS Bankasi (-)
9. Bank Austria Creditanstalt (8)
10. Banca Intesa (6)
TFP - Number of intra-regional Transactions p.a.TFP - Number of intra-regional Transactions p.a.
0
50
100
150
200
250
300
1999 2001 2003 2005 2007
Number of intra-regionaltransactions
31%
56%
0% 0%
13%
0%
10%
20%
30%
40%
50%
60%
5 4 3 2 1
TFP Users - Client Satisfaction with EBRDTFP Users - Client Satisfaction with EBRD
Average – 4.2
5: Excellent
4: Very Good
3: Good
2: Satisfactory
1: Poor
Q: How would you rate your overall satisfaction with the products and services delivered by EBRD?
TFP Achievements – Client SatisfactionTFP Achievements – Client Satisfaction
Readers of Trade Finance Magazine and editors of Trade & Forfaiting Review have voted the EBRD “Best Development Bank in Trade” in 2003, 2004, 2005, 2006 and 2007
EBRD invites other development banks, commercial financial institutions, export credit agencies and donors to co-finance or co-finance with the EBRD
EBRD TFP - Co-Financing PartnersEBRD TFP - Co-Financing Partners
ACE Global Markets (AGM) & Lloyd´s of London
Confirming Banks
DEG Germany
Donor Risk Sharing Funds
Export Credit Agencies
FMO Netherlands
OPEC Fund for International Development
Private Investment Funds
EBRD TFP – Exports from Ukraine to RussiaEBRD TFP – Exports from Ukraine to RussiaCo-financing with commercial banks and donor fundsCo-financing with commercial banks and donor funds
An Ukrainian exporter sells railway tank cars to Russia, amount USD 18 million
Ukreximbank issues a stand-by letter of credit, covering pre-export finance provided by Sumitomo Mitsui Banking Corporation (SMBC)
EBRD issues a stand-by L/C to SMBC, covering 100% of the political and commercial payment risk
Under an A/B structure SMBC shares EBRD’s risk and EBRD’s preferred creditor status
ICDF Taipei China shares up to 50% of EBRD’s risk
EBRD TFP: Export of Equipment to KazakhstanEBRD TFP: Export of Equipment to Kazakhstan
Co-financing with Export Credit AgenciesCo-financing with Export Credit Agencies An exporter sells equipment to
Kazakhstan
A Kazakh Issuing Bank under the TFP opens a Letter of Credit to a foreign Confirming Bank, payable in several instalments before, at and after delivery
EBRD guarantees payment of amounts or tenors which are not covered by ECAs (max. 3-5 years)
EBRD guarantees up to 100% of the political and commercial payment risk
USD 350,000,000Insurance Policy
Structured Trade Credit and Political Risks
INSURED
EBRD Trade Facilitation Programme (TFP)
INSURANCE AGENTSMarsh Political Risks
LEAD UNDERWRITERACE Global Markets (AGM)
UNDERWRITERSCatlin Syndicate 2003
XL Syndicate 1209Kiln Syndicate 510
at Lloyd’s of London
1 NOVEMBER 2006
TFP Insurance Policy – Deal of the Year 2006TFP Insurance Policy – Deal of the Year 2006
• Enables the EBRD to increase its facility limits for selected Issuing Banks under the TFP in Azerbaijan, Georgia, Moldova, Russia, Tajikistan and Ukraine
The editors of Euromoney Trade Finance Magazine and Trade & Forfaiting Review have awarded the TFP insurance policy “Deal of the Year 2006”
TFP – Donor Risk Sharing Funds & TC FundsTFP – Donor Risk Sharing Funds & TC FundsDonors support the TFP through contributions to
Training of trade finance staff of banks in EBRD’s Countries of Operation (funds provided so far by the governments of Austria, France, Ireland, UK and Taipei China for training of more than 600 bankers of 65 banks in 15 countries)
Trade Donor Risk Sharing Funds, sharing EBRD’s risk in South East Europe and the CIS (including funds of the governments of Austria, Germany, Netherlands, Norway, Switzerland and Taipei China)
Finance and Factoring Advisory Services for banks in CIS countries and Serbia and Montenegro (funds provided so far by Canada, EU, Germany, Ireland, Italy, Netherlands, Sweden, Switzerland and Taipei China)
EBRD Presence in Central Asia and the CaucasusEBRD Presence in Central Asia and the Caucasus
EBRD TFP – Co-financing with OFIDEBRD TFP – Co-financing with OFID
EBRD TFP – Co-financing with OFIDEBRD TFP – Co-financing with OFID
TFP - Co-financing of EBRD and OFIDTFP - Co-financing of EBRD and OFIDCase Study: Export of pharmaceuticals to TajikistanCase Study: Export of pharmaceuticals to Tajikistan
The Croatian exporter Pliva sells pharmaceuticals to Tajikistan
Agroinvestbank Tajikistan opens a confirmed Letter of Credit in the amount of USD 180,000 and a tenor of 8 months to a foreign Confirming Bank
EBRD guarantees 100% of the political and commercial payment risk to the Confirming Bank
OFID shares EBRD’s risk
The FutureThe Future Network of regional Trade Facilitation Programmes
throughout the developing world, run by regional development banks like EBRD, ADB, IADB, IFC, DEG, FMO, OFID
Increase trade by increasing trade finance permutations
Leverage/increase trade volume by co-financing with development agencies, commercial banks and insurance underwriters
Established structure provides a mechanism for quick response to financial crisis
KIEV, Ukraine
We look forward to welcoming you in Kiev at the EBRD Annual Meeting and Business Forum18 and 19 May 2008