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EIF

EIF. Riga, 1 7 June 2010. Presentation to the Monitoring Committee. 1. Overview. Current Status Progress Forecasts. 2. Current s tatus. Holding Fund (EUR 91.5m). Equity-related instruments. Debt-related instrument. Risk Capital Fund. Seed & Start up Fund.

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EIF

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  1. EIF Riga, 17June 2010 Presentation to the Monitoring Committee 1

  2. Overview • Current Status • Progress • Forecasts 2

  3. Current status Holding Fund (EUR 91.5m) Equity-related instruments Debt-related instrument Risk Capital Fund Seed & Start up Fund Funded Risk Sharing Product Swedbank EUR 22m SEB EUR 30m Baltcap EUR 20m Imprimatur EUR 14.7m Financially Engineered Instrument Selected Financial Intermediaries Signature Status = > March 26th March 26thJune 11thJanuary 22nd SMEs End Beneficiaries SME Community 3

  4. Progress by stage 4

  5. Progress by amounts (as of June 11th, 2010) 5

  6. Background explanations • The forecasts are based on contractual targets set for equity funds (Baltcap and Imprimatur) and current assesment of expected demand for banks (SEB and Swedbank) • Forecasts are at SME level, namely cumulative amounts committed or disbursed to SMEs by financial intermediaries • Forecasts show • amount of public funds committed or disbursed to SMEs via financial intermediaries • aggregate (public+private) amount of funds committed or disbursed to SMEs via financial intermediaries 6

  7. Aggregate forecast for equity transactions, mEUR 7

  8. Aggregate forecast for FRS transactions, mEUR 8

  9. Aggregate forecast for all transactions, mEUR 9

  10. Summary • All transactions signed and live, financing through all instruments available to SMEs • More than EUR 120m expected to be disbursed to SMEs by end of 2012 10

  11. Support slide - Risk Capital Fund JHF EUR 20 m allocated Private Investment EUR 10 m Risk Capital Fund (Limited partnership) • Upside Incentivisation • No Downside protection • Professional Management SME SME SME SME SME SME SME Focus on high growth sectors 11

  12. Support slide - Seed & Start-up Fund EUR 3m allocated JHF EUR 11.7m allocated Private Investment EUR 5.7 m Risk Capital Fund (Limited partnership) Seed Fund (Limited Partnership) • Upside Incentivisation • No Downside protection • Single Professional Management SME SME SME SME SME SME SME University Spin out focus 40-50 projects Innovative Technologies focus 14-16 SMEs 12

  13. Support slide - Funded Risk Sharing Product (FRSP) EUR 52 m allocated JHF 1. Deposit to Bank(s) JEREMIE Resources EUR 52 m Combined with Bank’s own resources EUR 52 + 52 = 104 m Deposit acts as 50% co-financing 2. Loans to SMEs SME SME SME SME SME SME SME 70% focus on Manufacturing sector 13

  14. Contact details • European Investment Fund in Luxembourg 96, Blvd Konrad Adenauer, L-2968 Graham Cope, g.cope@eif.org Tel: + 352 42 66 88 236 Martins Jansons,m.jansons@eif.orgTel + 352 42 66 88 381 • European Investment Fund in Latvia Valdemara Centre, Kr. Valdemara 21, 6th Floor,LV-1010 Krisjanis Zarins, k.zarins@eif.org Tel: + 371 670 352 31 14

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