Transcript EBRD

Introduction to the European Bank for Reconstruction
and Development (EBRD)
Thomas Maier, Managing Director, Infrastructure
12 September 2016, Taipei
Contents
1. EBRD: OVERVIEW
2. UPDATE ON KEY MARKETS
3. CONTRIBUTION OF TAIPEI TO EBRD’S BUSINESS
4. PROCUREMENT OPPORTUNITIES
5. CONTACTS
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The EBRD is an international, AAA-rated financial
institution, which promotes transition to market economies
SHAREHOLDING STRUCTURE
The EBRD has a triple-A rating from all three main
rating agencies (S&P, Moody’s and Fitch)
 EBRD is an international financial
institution that promotes transition to
market economies.
 Owned by 65 countries and 2
inter-governmental institutions (EU, EIB).
Others, 9%
Japan, 9%
 Recent “new” countries: 2014 Cyprus,
2015 Greece, 2016 Lebanon.
USA, 10%
EBRD region
excluding EU,
14%
WHO WE ARE
EU 27 Countries
(1), 59%
 PRC most recent shareholder (Jan 2016)
(0.2%).
 Capital base of around EUR 38 billion.
 Strong local office network with >45
offices throughout the EBRD region
 Matrix organisation combining sector
expertise and country leverage
(1) Includes European Community and European Investment Bank (EIB) each
at 3%. Among other EU countries: France, Germany, Italy, and the UK each
holds 8.6%
(2) Russia at 4%
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Sector coverage and EBRD approach
WHAT WE DO AND WHERE WE ARE
EBRD SECTORS
 EBRD invested over EUR 107 billion
in around 4,500 projects since 1991.
Manufacturing
& Services
Municipal & Environmental
Infrastructure
Transport
 Loan, equity and guarantees for wellstructured, financially robust projects
of all sizes (incl. many small
businesses).
 Close policy dialogue with
governments, civil society and other
stakeholders.
Financial Institutions Natural Resources
Telecommunications,
Informatics & Media
 Targeted technical assistance for
project preparation.
 Focus on working with the private
sector to foster innovation and openmarket economies.
Property & Tourism
Power & Energy
Industry, Commerce
& Agribusiness
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In 2015, EBRD invested a total of € 9.5 billion in 381 projects
ANNUAL BANK INVESTMENT1) 2011-2015
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2015 INVESTMENTS:
 Debt 82%, Equity 14% and
Guarantee 4%.
120
10
100
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8
80
7
6
60
5
4
40
3
2
20
1
0
Net cumulative business investment
Annual business investment (ABI) in EURbn1)
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 Capital market transactions ~20%.
 Net profit for 2015 expected at
€ 0.8 billion.
 Local currency: Tenge, Turkish Lira,
Rouble, etc.
 Both, direct investments and through
holding companies.
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Debt ABI
Equity ABI
Net Cumulative ABI
 Amid economic and political turbulence,
EBRD remains a strong, resilient and
trusted partner.
(1) Annual Bank investment (ABI) is the volume of commitments made by
the Bank during the year
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EBRD country coverage
Estonia—
Latvia—
Russia
Lithuania—
Poland
Belarus
Czech Republic—
—Slovakia
Ukraine
—Hungary
Slovenia—
—Romania
Croatia—
—Serbia
Bosnia and Herzegovina—
—Bulgaria
Montenegro— —Kosovo
Albania—
FYR Macedonia
Tunisia—
Kazakhstan
—Moldova
Georgia—
Armenia—
Uzbekistan—
—Kyrgyz Republic
—Tajikistan
Azerbaijan
Greece
Mongolia
—Turkmenistan
Cyprus
—Morocco
—Jordan
Egypt—
SEMED
Western Balkans
Turkey
Armenia,
Azerbaijan,
Belarus,
Georgia,
Moldova,
Ukraine
Central Asia
(incl. Mongolia)
Central
Eastern Europe
Russia
EBRD Countries of Operations offer a great potential for
international expansion
GDP: ~EUR 3 trillion
GDP: ~EUR 546 billion
GDP: ~EUR 374 million
GDP: ~EUR 199 billion
THAILAND
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Fundamentals of EBRD region
EBRD covers a region of 500
million people with a combined GDP of €3 trillion.
Total Population: 76m
Total Population: 71m
Average 2015/ 2016F
GDP change: 2.7% / 3%
Average 2015 / 2016F
GDP change: 2.8% / 3.1%
EBRD portfolio: EUR 6.2 bn
EBRD portfolio: EUR 4.0 bn
EBRD Infra portfolio growth
2013-2015: -5%
EBRD Infra portfolio growth
2013-2015: 43%
Total Population: 146m
Total Population: 79m
Average 2015 / 2016F
GDP change: 3% / 2.9%
2015 / 2016F GDP
change: 4% / 3.1%
EBRD portfolio: EUR 3.1 bn
EBRD portfolio: EUR 6.3bn
EBRD Infra portfolio growth
2013-2015: 418%
EBRD Infra portfolio growth
2013-2015: 86%
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Fundamentals of EBRD region
EBRD total portfolio and Infra portfolio amounts to €40
billion and €10 billion
Total Population: 44.4m
Total Population: 75m
Average 2015/ 2016F
GDP change: 2.9% / 3.3%
Average 2015 / 2016F
GDP change: -1.2% / -0.3%
EBRD portfolio: €8.2 bn
EBRD portfolio: €7.4 bn
EBRD Infra portfolio growth
2013-2015: -10%
EBRD Infra portfolio growth
2013-2015: 21%
Total Population: 12m
Average 2015 / 2016 F GDP change: -0.1% / 0%
EBRD portfolio: €0.5 bn
EBRD Infra portfolio growth 2014-2015: 326%
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As of July 2016, EBRD invested around
EUR 4.6 billion across 175 projects
ANNUAL BANK INVESTMENT1)
Annual Bank Investment and
Operations
€ million at reported rates
2015 (AS OF 31 DEC)
Number of projects YTD
Annual Bank Investment
Annual Mobilised Investment
Portfolio
Operating assets
Private share of portfolio
381
€ 9,378m
€ 2,336m
€ 41,574m
€ 28,614m
70%
2016 ANNUAL ACTIVITY (AS OF 31 JULY)
(1) Annual Bank investment (ABI) is the volume of commitments made by
the Bank during the year. Unreconciled data.
Number of projects YTD
Annual Bank Investment
Annual Mobilised Investment
175
€ 4,607m
€ 437m
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Contents
1. EBRD: OVERVIEW
2. UPDATE ON KEY MARKETS
3. CONTRIBUTION OF TAIPEI TO EBRD’S BUSINESS
4. PROCUREMENT OPPORTUNITIES
5. CONTACTS
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Turkey is one of EBRD’s key countries of operation and
will remain a major partner in the future
EBRD TOP 10 COUNTRIES (ABI IN € MILLION)
2013
1
RUSSIAN
FEDERATION
2015
1,816
1 TURKEY
1,904
2 TURKEY
920
2 UKRAINE
997
3 UKRAINE
798
3 EGYPT
780
4 POLAND
756
4 KAZAKHSTAN
709
5 ROMANIA
508
5 POLAND
647
6 SERBIA
424
6 SERBIA
478
7 KAZAKHSTAN
328
7 MONGOLIA
467
8 CROATIA
288
8 MOROCCO
431
9 BELARUS
255
9 GREECE
320
237
10 AZERBAIJAN
269
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SLOVAK
REPUBLIC
TURKEY AND EBRD
 Turkey biggest EBRD investee in 2015.
 In 2016 (as of July), EBRD invested
EUR 1.0bn (ca. 20% of total EBRD
investment) across 24 projects.
 Recent coup attempt in July led to a
sharp increase in risk premium (rise in
Turkish CDS by 80bps) and put
pressure on the Turkish Lira. However,
markets somewhat stabilised in early
August. Fitch confirmed BBB- rating,
but changed outlook to negative.
 For 2016, GDP growth is expected to
be moderate (ca. 3.2%); current deficit
remains large at 3.8%, albeit falling on
the back of low oil prices.
 EBRD remains committed to investing
in Turkey.
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EBRD remains committed in investing in Turkey, realising
its well diversified pipeline
EBRD AND TURKEY IN NUMBERS
Annual Bank Investment and
Strong EBRD pipeline and portfolio:
Operations
€ million at reported rates
 98% private deals, also in the
investment pipeline
 Strong transition impact score above
EBRD average
 High share of local currency / capital
market (34% of total) and small
business deals (17% of total)
Annual Activity
Number of projects YTD
24
Annual Bank Investment
€954m
Annual Mobilised Investment
€169m
Portfolio & Operating Assets
Portfolio
Active portfolio projects
Operating assets
€6,330m
 Strong GET impact of 35% of total
signed financing
 High amount of gender deals
 Well diversified annual business
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€5,299m
Private share of portfolio
98%
Equity share of portfolio
18%
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Contents
1. EBRD: OVERVIEW
2. UPDATE ON KEY MARKETS
3. CONTRIBUTION OF TAIWAN TO EBRD’S BUSINESS
4. PROCUREMENT OPPORTUNITIES
5. CONTACTS
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Taipei-China has been a solid and important contributor to
EBRD’s business model
INVESTMENTS (AS OF JULY 2016)
TRADE FACILITATION PROGRAMME
 Taipei-China important source of FDI
 Launched in 1999, since then financed over 18,300
transactions for more than €12.8 billion.
 Joint Taipei China-EBRD investment stood at €1.43
billion, of which 20% Taiwanese.
 Major beneficiary regions: Russia (69%), Kazakhstan
(8%), Romania (4%)
 Major sectors Financial Institutions
(66%) and Industry/ Commerce/
Agribusiness (33%)
 100 export and import transactions with Taipei China,
totalling €26.2 million
 12 Taiwanese Confirming Banks
(as at January 2015)
TAIWANESE
CONTRIBUTION TO
EBRD
 Over 30 contracts for over EUR 1 million awarded to
Taiwanese consultants
 17 contracts worth over EUR 220 million under EBRD
public sector projects won by Taipei China entities (Dec.
2014)
CONSULTANCY AND PROCUREMENT
 Since 1991 around EUR 35 million provided
through the Taiwan Business – EBRD Cooperation Fund. Replenished with USD 1.75
million in 2014
 Taipei China one of the founding contributors of the ETC
fund with USD 250,000.
 For the first time, Taiwanese funding (USD 300,000) will
also contribute to the E5P Fund and the Small Business
Impact Fund (SBIF) (USD 600,000)
TECHNICAL COOPERATION
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The Green Energy Special Fund (GESF) helps fostering
best practices for resource efficient projects
GESF IN A BRIEF
HOW IT WORKS AND OUTCOME
 Address the affordability gap currently
preventing clients from choosing best
available technology
 GESF provides a subsidised interest
rate relative to a reference market rate,
where net present value of the
accumulated interest rate subsidy shall
be equal to the estimated value of
monetised environmental benefits
 Expand climate change mitigation
investments and develop appropriate
competencies in adaptation
 First sponsored project for LED street
lighting project signed in Chisinau,
Moldova in December 2011.
 Facilitate competitive entry of lowcarbon players
 Investments are being considered in
Bosnia I Herzegovina, Bulgaria, Jordan,
Kazakhstan and Morocco under
consideration.
EBRD and TaiwanICDF created a USD
80 million GESF in order to:
 Build up a critical mass and awareness
of energy efficient and low-carbon
technology projects
 Foster the diffusion of new technologies
until they reach full market potential and
become the common choice
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Contents
1. EBRD: OVERVIEW
2. UPDATE ON KEY MARKETS
3. CONTRIBUTION OF TAIWAN TO EBRD’S BUSINESS
4. PROCUREMENT OPPORTUNITIES
5. CONTACTS
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Public Procurement Statistics in 2015
210 contracts
totalling €1.0
billion
EBRD financed
€721
million
Open tendering
share: 97 per
cent
Average
contract:
€4.9
million
PUBLIC PROCUREMENT CONTRACTS SIGNED
The Bank’s public sector clients are
expected to sign in the next four years
€7.5 billion
and 795 contacts
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Public Procurement statistics in 2015 (2)
INFRASTRUCTURE IS THE SECTOR WITH THE HIGHEST CONTRACTUAL ACTIVITY
(180 OUT OF 210 CONTRACTS)
147
33
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EBRD procurement & opportunities for Taiwanese
companies
EBRD PROCUREMENT PRINCIPLES
EBRD APPROACH IN PUBLIC PROCUREMENT
 Aligned with the Government
Procurement agreement of the WTO
 Minimisation of risks – Maximisation of
success
 Use of efficient procurement methods
 Procurement – part of project delivery
strategy
 Fair and open international tendering –
the norm
 No country eligibility limitations or
preferences
 Clients are responsible for project
implementation and tendering
 Compliance with the Bank’s
Environmental and Social Policies
 Prevention and fighting of prohibited
practices
 Use of standard tender documents and
internationally recognised contract
terms and conditions
 Aim of evaluation – best value for
money
 Evaluation factors usually are
expressed in monetary terms
 Prevention and fighting corruption
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EBRD procurement & opportunities for Taiwanese
companies
Where to find information on the opportunities? http://www.ebrd.com/work-with-us/procurement.html
What to look for: Project Pipeline; General Procurement Notices; Invitation for Prequalification or for Tender and
Invitation for Expression of Interest (Consultants)
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Contacts
Thomas Maier
Managing Director, Infrastructure
Tel: +44 20 7338 7924
Email: [email protected]
EBRD
One Exchange Square
London, EC2A 2JN
UK
www.ebrd.com
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