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FRWE conference: 5-6 February, 2004

FRWE conference: 5-6 February, 2004. Hungarian Export-Import Bank Ltd. György Rosta Deputy CEO. Establishment: Act XLII of 1994. 100 % state ownership The Hungarian Export-Import Bank was established in order to : develop the Hungarian foreign trade relations,

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FRWE conference: 5-6 February, 2004

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  1. FRWE conference: 5-6 February, 2004 Hungarian Export-Import Bank Ltd. György Rosta Deputy CEO

  2. Establishment: Act XLII of 1994 • 100 % state ownership • The Hungarian Export-Import Bank was established in order to: • develop the Hungarian foreign trade relations, • be a partner for exporters and commercial banks, • offer services for deals, which can not be financed on a market conditions, • be instrumental in supporting outgoing foreign investment

  3. Impacts on Exim’s mission • legislative impact: harmonization with the international rules(framework for Eximbank’s activity) • country impact: rethink of export patterns (EU accession) • activity impact: shift in Exim’s profile towards new products • policy impact: export-led economic growth

  4. Conseqences of EU accession • one third of the market portfolio will be spread among new markets • share of risky markets within the portfolio will increase • new products came in highlight (tied aid, one top-shop financing)

  5. Markets outside the EU CIS South-Eastern Europe Middle East South America Important products project finance risk sharing aid finance one stop shop finance Future strategy

  6. Project finance • The main elements of this complex facility: • financing the buyer • pre-financing the exporter • issuing state-backed export-guarantees • the role of Eximbank: organiser, direct lender, lender of commercial banks guarantor, • Project risk based financing facility - the future • financing infrastructure constructions • developing markets • the role of Eximbank: organiser of the Hungarian financing background of the project in line with foreign banks

  7. Risk sharing • Eligible instruments: Documentary Letter of Credit, Guarantee, associated with exports, issued by banks accepted to Eximbank • Contract: individually or in frame agreement • Beneficiary: Hungarian exporter • Amount: In consideration with the risk of the limit established for eligible bank(s) • Pricing: - discount rate: LIBOR + margin % p.a.

  8. Aid finance Loans, grants, mixed financing packages tied to the procurement of goods from the donor country with preferential conditions: • lower interest, grant element, longer repayment term + grace period Eligibility rules: • concessionality level: minimum 35% • country eligibility: GNI/capita: 2935 USD in 2003 • project eligibility:cash flow is not sufficient on market principle

  9. One stop-shop financingJoint financing with Export Credit Agencies (ECAs) EXPORTERS guarantee sales Hungarian affiliate fees of US parent company follower ECA goods counter importer/borrower lead ECA guarantee loan commercial bank comprehensive guarantee

  10. Main banking relations in the region • Russia: Sberbank, Alfa Bank, Vneshtorgbank, Gutabank, Bank of Moscow, BIN Bank • Ukraine: Ukreximbank, Nadrabank, Ukrtsocbank, Avalbank • Beloruss: Belorusbank, Priorbank, Belpromstroibank, Belvneshtorgbank

  11. Thank you for your attention! 1065 Budapest Nagymező 46-48. Tel.: 0036(1)3749-100 Fax: 0036(1)3749-120 Internet: www.eximbank.hu EXIMBANK Hungarianr Export-Import Bank Ltd.

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