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PILOT FINANCIAL INITIATIVE (PFI). A NEW PROJECT FOR REGIONAL COOPERATION

The 21st Baltic Sea Parliamentary Conference Energy, Ecology and Social Welfare: Cooperation for a Sustainable Development of the Baltic Sea Region Saint Petersburg, Russian Federation, 26 – 28 August 2012 Conference Venue: Mariinsky Palace, Grand Hall. PILOT FINANCIAL INITIATIVE (PFI).

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PILOT FINANCIAL INITIATIVE (PFI). A NEW PROJECT FOR REGIONAL COOPERATION

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  1. The 21st Baltic Sea Parliamentary ConferenceEnergy, Ecology and Social Welfare: Cooperation for a Sustainable Development of the Baltic Sea RegionSaint Petersburg, Russian Federation, 26 – 28 August 2012Conference Venue: Mariinsky Palace, Grand Hall PILOT FINANCIAL INITIATIVE (PFI). A NEW PROJECT FOR REGIONAL COOPERATION AND SUSTAINABLE DEVELOPMENT Daniil Algulyan Elected Chairman of the PFI Steering Committee Head of the KfW Representative Office in Moscow

  2. 60 years of KfWFinancing with a public mission • Promotional bank of the Federal Republic of Germany • Founded in 1948 asKreditanstalt für Wiederaufbau • Shareholders: 80% Federal Republic,20% federal states • Headquarters: Frankfurt am MainBranches: Berlin, Bonn and Cologne • Representative offices: around 70 offices and representations worldwide • Balance sheet total at end 2011: EUR 494.8 billion • Financing volume 2011: EUR 70.4 billion • Around 4,763 employees (2011) • Best rating: AAA/Aaa/AAA 4 4

  3. A bank with a wide array of functions International business Domestic promotion We promote development We ensure internationalisation We promote Germany Business Area Promotion of Developing and Transition Countries Promotion SMEs, business founders, start-ups Promotion construction of new housing and modernisation as well as education Financing municipal infrastructure projects and global loans Germany/Europe agency business for Federal Government International project and export finance Promotion of developing and transition countries Business Area Mittelstandsbank Business Area Privatkundenbank Business Area Kommunalbank Business AreaExport and Project Finance Promotion of environmental and climate protection 2 2

  4. KfW employees Worldwide presenceover 70 representative offices

  5. Reliable partner for the Baltic Sea Region (BSR) Portfolio in the BSR (without Germany): 7.5 bn EUR Supporting economies in transition in the 90-ies and in the beginning of this century: KfW was mandated by the German Federal Government to coordinate the Transform technical assistance program, which was successfully implemented in following countries of the region: Estonia, Latvia, Lithuania, Poland, Russia Current activities in the Eastern part of BSR: - More than 30 active finance projects in Estonia, Latvia and Lithuania - Activities in the Baltic sea territories of Russia gain increasing importance within KfW portfolio, incl. infrastructure projects (Pulkovo airport), trade and export finance, SME support Key sectors: • Environment and Renewable Energy • Small and Medium-sized Entrepreneurs • Infrastructure and Transportation • Energy supply

  6. Pilot Financial Initiative (PFI)General information • MemorandumofUnderstanding (MoU) on PFIwassignedattheBalticSeaStatesSummitin • Stralsund, Germany, 31 May 2012 • Initial PFI Partners:Council of the BalticSeaStates (CBSS) Secretariat, Russianpromotionalbank • VnesheconombankandKfW • Key sectors: • - PPP (special attention to a climate friendly urban infrastructure, waste treatment) • - Innovation and modernisation projects of the small and medium-sized enterprises • Structure of financing:KfW (upon mandate of the German Federal Foreign Office) intendstoprovide • Vnesheconombankwithlong-termloans, foron-lendingtoprojects. ItisenvisagedthatthePFIwillbe • extendedtootherfinancialinstitutionsfromthe CBSS regionjoiningthe PFI aswell. • Non-financial cooperation and know-how transfer: conferences, seminars, trainings • Pilot geographical regions: in the first phase RussianpartsoftheSouthEasternBalticSeaAreaand • onNorthWestRussia, butshallbeexpandedtootherpartsoftheBSR, dependingoninterest, and • dependingonaccessionbyadditionalpartnerfinancialinstitutionstothe PFI.

  7. Pilot Financial Initiative (PFI)Phase I SME Finance structure SME Local banks partners of the program Promotional Long-term Loans SME KfW Vnesheconombank group Local banks partners of the program SME SME Local banks partners of the program SME

  8. Pilot Financial Initiative (PFI)Phase I. PPP Finance structure PPP projects (Waste treatment) Promotional Long-term Loans KfW Vnesheconombank group PPP projects (Water and Energy) PPP projects (Local transport)

  9. Thank you for your attention

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