Financing the Projects - Poleko
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Transcript of Financing the Projects - Poleko
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FINANCING THE PROJECTS
POLEKO 21 November 2012
Kjell Arne Nielsen
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We contribute to
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• Innovation in Norwegian trade and industry
• Making Norwegian businesses competitive domestically and internationally
• Promoting the reputation of Norwegian businesses
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Our services
Promotional services
Competenceservices Advisory
services
Networking services
Financing services
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Industrial Research and development Program (IRD)-programmeTargets• New business relations and
partnerships based on cooperation in development
• To succeed in commercialization and marketing of new products
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An opportunity for foreign companies because:
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• …they want to build new business relations and partnerships based on co-operation in the process of developing new products.
• … they want to have access to innovative and highly competent Norwegian companies. (SMEs)
• … they want to use the support from Innovation Norway to stimulate new partnerships.
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The role of the demanding customer: • Active participation in the
project and with good references and market channels
• Polish companies typically provides time in requirement specification and acceptance testing / pilot production.
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The roles of the actors
Innovation Norway
•Support the business relations
•Covers part of the R&D-costs
IRD-contract:
Market driven innovation
Norwegian company
(SME)
Demanding customer
New products
Demanding customer (Foreign company)•States requirements for new products or solutions for a global market.
References and market channels
Norwegian Supplier• Provides product and services from R&D
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Other relevant tools for financing
NORDIC INVESTMENT BANK
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GIEK offers financial guarantees • The aim is to promote Norwegian exports
• Guarantees are subject OECD export credit rules
• GIEK guarantees the funding bank, taking the commercial, and/or the political risk on the project
• The funding bank is normally Export Credit Norway, but GIEK may also guarantee other international banks.
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• Fully owned by the Norwegian government• politically independent
• Main guarantee limit of NOK 120 Billion• abt. PLN 60 Billion
Owned by Norwegian Government
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Export Credit Norway
• Fully owned by the Norwegian Ministry of Trade and Industry.
• “OECD Arrangement on Government Supported Export Credits”.
• Export Credit Norway plays an important role in the Government Supported Export Credits by providing Long-term and stable funding.
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CIRR – loans (Commercial Interest Reference Rate)
• A CIRR loan is fixed for each currency and are quoted every months.• Example 15th Nov: 5,17%/pa based on PLN.• The loan repayment period is from 2 to 12 years. • For some purposes, may be extended up to 18y
• Export Credit Norway offers export financing for up to 85% of the export contract value. • All loans must be guaranteed.
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NORDIC INVESTMENT BANK• Founded by the Nordic
countries in 1975• Headquarters in Helsinki, 190
staff• Lending in both member
countries and focus countries• Environmental and
Competitiveness mandate• AAA/Aaa credit rating
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NORDIC INVESTMENT BANK
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Bank Ochrony Srodowiska
• Loan programme totalling EUR 30 million
• For projects that improve the environment, providing in particular:• renewable energy solutions• energy-efficiency measures• wastewater treatment systems.
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NORDIC INVESTMENT BANK
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Summing up• Norwegian companies can and will contribute in
meeting Poland’s requests for eco-friendly solutions.
• Projects may e.g. be part financed by• Grants and loans from Innovation Norway• Norwegian Government Guarantees• Norwegian Government Export Financing• Nordic Investment Bank e.g. via BOS in Poland