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Ofer Peleg Minister Finance & Economic Affairs Embassy of Israel, Beijing

State of Israel Ministry of Finance. Ofer Peleg Minister Finance & Economic Affairs Embassy of Israel, Beijing. February 2017. Representative of the Ministry of Finance in China. Minister for Finance & Economic Affairs - A High level of delegate.

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Ofer Peleg Minister Finance & Economic Affairs Embassy of Israel, Beijing

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  1. State of Israel Ministry of Finance Ofer Peleg Minister Finance & Economic Affairs Embassy of Israel, Beijing February 2017

  2. Representative of the Ministry of Finance in China • Minister for Finance & Economic Affairs - A High level of delegate. • The Ministry of Finance is one of the principal Ministries of the Government of Israel. • Only 3 Ministers around the world representing the Ministry of Finance: • U.S.A • OECD • China

  3. ACTIVITIES IN THE PAST AND PLANS IN THE COMING YEAR • Sino-Israel Financial Protocol • Asian Infrastructures Investment Bank (AIIB) • Construction Companies • Task Force - China-Israel finance working group • Infrastructure projects in Israel • visits

  4. SINO-ISRAEL FINANCIAL PROTOCOL • Financial agreement between the two countries using state guarantees • A stable program for implementing export transactions from Israel to China. • Long term credit insured with multiple benefits.

  5. Sino-Israel Financial Protocol

  6. SINO-ISRAEL FINANCIAL PROTOCOL • 1995 - the First Financial Protocol was signed. • Last extension in July 2015, extended by $500M. • Total amount of $2.6 B. • This year we are planning to introduce a new Clean-Tech protocol of $300M!

  7. SINO-ISRAEL FINANCIAL PROTOCOL 2017-19 ? US$ 300M New trends of sector & credit allocation from China government Budget allocation in coming years to fulfill the usage of the credit allowance.

  8. SINO-ISRAEL FINANCIAL PROTOCOL New trends

  9. PROJECTS FINANCED WITH THE PROTOCOL

  10. 20th ANNIVERSARY OF THE SINO - ISRAEL FINANCIAL PROTOCOL On September 2016 we held an event to celebrate the 20th anniversary of the Financial Protocol between China to Israel together with Ms. Michal Abadi Boiangiu, Accountant General, MOF Israel and Mr. Shi Yaobin, Vice Minister, MOF China.

  11. 20th ANNIVERSARY OF THE SINO - ISRAEL FINANCIAL PROTOCOL

  12. SINO-ISRAEL FINANCIAL PROTOCOL Intention to extend the Protocol in 2017 for 300 million dollars for Clean-tech - water saving, green energy and advanced agriculture. The Clean-tech protocol will apply to all provinces of China.

  13. AIIB - ASIAN INFRASTRUCTURE INVESTMENT BANK • The bank focuses mainly on the development of infrastructure in Asia, including energy and power, transportation and telecommunications, infrastructure and agriculture development, water supply and sanitation, environmental protection and urban development. • Israel is one of the 57 founding members of the AIIB. • $100 billion in capital.

  14. AIIB - ASIAN INFRASTRUCTURE INVESTMENT BANK • The Israeli Chief Economist, Mr. Yoel Naveh and I attended the board meetings of the bank • Potential projects in Israel • Potential involvement of Israeli companies • There is an Israeli worker in the bank staff!

  15. AIIB - ASIAN INFRASTRUCTURE INVESTMENT BANK AIIB first year - 2016: • An international bank. • In 2016, the bank lent $1.7 billion when the expectation was $1.2 billion. • AIIB approved 9 infrastructure and energy projects in 7 countries across Europe, Asia and the Middle East:

  16. AIIB - ASIAN INFRASTRUCTURE INVESTMENT BANK • Azerbaijan: Trans Anatolian Natural Gas Pipeline Project (TANAP). • Oman: Duqm Port Commercial Terminal & Operational Zone Development Project. • Oman: Railway System Preparation Project. • Myanmar: Myingyan Power Plan Project. • Indonesia: National Slum Upgrading Priject. • Pakistan: National Motorway M-4 Project. • Bangladesh: Distribution System Upgrade and Expansion Project. • Pakistan: Tarbela 5 Hydropower Project. • Tajikistan: Dushanbe – Uzbekistan Border Road Improvement Project.

  17. AIIB - ASIAN INFRASTRUCTURE INVESTMENT BANK In 2017, AIIB will focus on: • Promoting green infrastructure and supporting countries to meet their environmental and development goals. • Prioritizing cross-border infrastructure across Central Asia, and the maritime routes in South East and South Asia, and the Middle east. • Devising innovation solutions that catalyze private capital, in partnership with other MDBs, governments and private financiers.

  18. CONSTRUCTION COMPANIES On April 2016, the Minister of Construction and Housing, Mr. YoavGalant, visited China and met high ranked officials and different construction companies. In order to meet the challenge of manpower shortage in the construction field in Israel, the Ministry approved 6 foreign companies.

  19. CONSTRUCTION COMPANIES • 50 proposals - 5 Chinese companies out of a total of 6! • Each company will receive a permit to employ up to 1,000 foreign workers. • 5 years period (+ 3 years extension). • The company will be entitled to operate as a performance contractor of residential construction works. • (JV) Joint venture with Israeli company - allowed to operate as a development company.

  20. CONSTRUCTION COMPANIES

  21. NDRC visit - China-Israel finance working group • Part of the Task Force – NDRC and Israeli MOF including members from CDB and different Israeli ministries. Topic discussed: • assist other working groups financing projects. • Stock market cooperation. • Investment funds. • PPP cooperation. • Financing projects in China.

  22. Infrastructure projects in Israel • In recent years, the Chinese have become one of the strongest forces in the transportation and infrastructure fields in Israel. Past Projects: • Carmel Tunnels Project 2007 • Gilon Tunnels Project

  23. Infrastructure projects in Israel Examples of current Projects: • Tel Aviv Light Rail: Part of the red line of the Light Rail is currently being built by some Chinese companies and the train cabins will be provided by another Chinese company. • Ashdod Port - construction began in 2014 by PMEC. • Route 16 - two Chinese companies are competing in the tender of building an alternative path to Jerusalem.

  24. Promoting Infrastructure projects in Israel Future Projects: • Tel Aviv & Jerusalem Light Rail - several Chinese construction companies have interest in participating in the tenders. • Development of natural gas and oil exploration in Israel - The Ministry of National Infrastructure, Energy and Water Resources is seeking to expand offshore, exploration and production activity. an international competitive process was published, marketing 24 new offshore exploration licenses. .

  25. Promoting Infrastructure projects in Israel Future Projects: • The Red Sea-Dead Sea project – deals with the decline of the water level in the Dead Sea and the water crisis in Jordan. • Includes a Conveyance System to transfer water from Red Sea to the Dead Sea, A Desalination Plant with annual capacity of 65 MCM, which will be located north of Aqaba and a Hydropower plant along the conveyance system.

  26. Main Bilateral Visits • Vice minister Mo delegation to Israel • Minister of Housing and Construction delegation visit to China • Accountant general of MOF delegation to China • Stock Exchange Chairman delegation to China

  27. Main Bilateral Visits

  28. Thank You

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