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Spanish FIEM Fund

Spanish FIEM Fund. 2. Index. 3. Official financial instruments to support the internationalization of Spanish companies. basic characteristics financial conditions. FIEM:. 4. 1. Examples of FIEM projects. Contacts.

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Spanish FIEM Fund

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  1. Spanish FIEM Fund

  2. 2 Index 3 Official financial instruments to support the internationalization of Spanish companies basic characteristics financialconditions FIEM: 4 1 Examples of FIEM projects Contacts

  3. 1.- Official financial instruments to support the internationalization of Spanish companies FIEX/FONPYME 1 Equity and quasi-equity 2 CARI/FIEM Credit 3 Assurance

  4. 2 Index FIEM: BASIC CHARACTERISTICS FINANCIAL CONDITIONS

  5. 2.-FIEM | BASIC CHARACTERISTICS • Supports: • exports of goods and services • direct investment • Origin in FAD (FIEM since January 2011), improved and extended • Subject to the Arrangement on Officially Supported Export Credits (OECD Consensus) • Approval: FIEM Committee. Council of Ministers • Financial Agent: ICO

  6. 2.-FIEM | BASIC CHARACTERISTICS • Contractors: Spanish companies (wide interpretation) • Beneficiaries: Non-resident public or private entities • Guarantees: Sovereign, sub-sovereign, private, project finance... • Excluded sectors: Health, basic education and defense, paramilitary and police equipment • Eligible countries: case-by-case basis

  7. 2.-FIEM | TARGET COUNTRIES IN 2017 • In America: Argentina, Brazil, Canada, Chile, Colombia, UnitedStates, Mexico, Peru and Uruguay.  • In Asia and Oceania: Bangladesh, China, Philippines, India, Indonesia, Kazakhstan, Myanmar, Pakistan, Uzbekistan and VietNam. • In Sub-SaharanAfrica: AouthAfrica and Kenya. • In Middle East: CountriesfromtheGulfCooperationCouncil–Bahrein, Kuwait, Oman, Qatar, Saudi Arabia and UnitedArabEmirates-, Israel e Iran. • Mediterraneancountries: Morocco, Turkeyy Egypt. • HIPCcountries: Côted’Ivoire, Senegal, Ruanda, Uganda, Ethiopia, Madagascar y Tanzania • TOTAL: 39 COUNTRIES(Thelistedcountries are merelyindicative)

  8. 2.-FIEM | FinancialConditions Financing in commercial terms • Interest rate: CIRR + CESCE equivalent premium • Funding limits established by OECD consensus • Repayment terms: up to 8.5 years for developed countries. Upper limits for certain sectors • OECD Commercial interest rate CIRR (monthly validity) • CIRR rates currently valid (15 May. - 14 June 2017):

  9. 2.-FIEM |FinancialConditions Tied concessional (soft) financial support • Restricted to lower-middle income countries according to World Bank's classification • Minimum Concessionality level (grant element): 35% • Least developed countries (LDCs): 50% minimum • HIPC countries: Financing is possible, but exceptional • Special Financing lines for studies: EVATIC

  10. 2.-FIEM |FinancialConditions • Senior debt, FIEM does not participate in equity • Independent analysis (due diligence) • Guarantees for the operation: • Country • Public or Private debtor • Project (project finance) • Currency: Mainly Euro or USD (the law allows exceptionally other currencies)

  11. 2.-FIEM |CreditLines • Credit line in commercial terms for small investment or export projects: • Endowment: €50 millions • Maximum size of the financed project: €3 millions • Currency: euro or dollar • Approval: FIEM Committee • Special conditions: (Maximum repayment terms 8 years, minimum rate required CC3 for CESCE or C+ for COFIDES, HIPC excluded) • Credit line “FIEM-FacilidadesUE: • Endowment: €50 millions • Maximum amount of credit financed by FIEM (in general) €30 millions • Multicounty credit line • Untied credit • Co-financed with EU (Blending) • Public or private beneficiary • EVATIC line: • Endowment: €20 millions • Repayable credit for technical assistance, engineering and consulting services • Currency: euro or dollar • 2 Tranches (Concesional, commercial terms) depending on the size of the operation • Approval: FIEM Committee • HIPCs excluded

  12. Balance 2011 – 2016 The total amount of FIEM credits approved in the period amounts to 1.378 million € (in blue) The value of the contracts linked to these funding amounts to 3.049 million € (in green)

  13. Index 3 Examples of FIEM projects

  14. 3.-PROJECTS SadaraPetrochemicalplant in Saudi Arabia • Exporter: TécnicasReunidas • Participation in the construction of 3 petrochemical plants in JIC (Jubail Industrial City), the largest industrial center in Middle East • FIEM Credit: 300 million USD with Project Finance guarantee

  15. 3.- PROJECTS CERCIKAYA IN TURKEY • Exporter: AccionaWindpower • Full supply of turbines for a wind farm of 57 MW in the region of Cercikaya in Turkey • FIEM credit: 19 million EUR

  16. 3.-PROJECTS CONSTRUCTION AND EQUIPMENT OF THREE LABORATORIES QUALITY CONTROL OF FISHERY PRODUCTS IN KENYA • Engineering and building equipment and training of personnel involved in the production and handling of fish and laboratory • Contract between MAKIBER and Kenyan Ministry of Fisheries. Sovereign guarantee • Concessional financing: € 5.7 million

  17. 3.-PROJECTS DRIVINGSIMULATOR FOR DRIVING SCHOOLS IN BRAZIL • FIEM Credit of 32 M€. Bank financing of 14,4M€ • Project FinanceGuaranteeand additionalonessuch as: • CorporateGuaranteefromEverisSpain S.L.U. • Pledgeontheincome of Pro simulador • Drivingsimulators as guarantee to mitigatetherisk of Exchange rate. • Key element of theDemandAnalysis: the use of thedrivingsimulatorsiscompulsoryaccording to Brasilianlaw

  18. 3.-PROJECTS CONSTRUCTION AND OPERATION OF A GAS PIPELINE IN MEXICO • Debtor: Pipeline of Morelos (SPV composedbyElecnor, Elecnor México and Enagás) • FIEM Credit of 50 M de $ • Contractawardedby International Tender • Contracts: Gas transportwiththe Federal ElectricityCommission, InterconnectionwithPEMEX, ConstructionwithElecnor México, O&M withElecnor y Enagás

  19. 3.-Projects PLASTIC INJECTION FACTORY FOR PRODUCING HANGERS AND AUTOMOBILE COMPONENTS IN INDIA Developer: Plásticos Erum,SME leader in the manufacture of hangers Clients: INDITEX, H&M, El Corte Inglés, Decathlon, Carrefour, Hugo Boss etc. Investment of 1.282.125 €

  20. Index Contacts 4

  21. Contacts Ministry of Economy, Industry and Competitiveness Paseo de la Castellana, 162 28046, Madrid, España www.comercio.gob.es DeputyDirectorateforFinancial Development for Internationalization. fiem@comercio.mineco.es DeputyDirectoratefor Trade Policy for Mediterranean Countries, Africa and the Middle East. Sgmedafom.sscc@comercio.mineco.es DeputyDirectoratefor Trade Policy for South America and North America countries. Sgiberan.sscc@comercio.mineco.es DeputyDirectoratefor Trade Policy for Europe and Asia Pacific. (Europeancountriesoutof the EU) Sgeao.sscc@comercio.mineco.es DeputyDirectorateforTradePolicyforEurope and industrial products. (Europeancountries in the EU) sgpolcoue.sscc@comercio.mineco.es

  22. THANKS FOR YOUR ATTENTION

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