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The 21st Baltic Sea Parliamentary ConferenceEnergy, Ecology and Social Welfare: Cooperation for a Sustainable Development of the Baltic Sea Region
Saint 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 AlgulyanElected Chairman of the PFI Steering Committee
Head of the KfW Representative Office in Moscow
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 244
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
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 322
A bank with a wide array of functions
Promotion of developing and
transition countries
International business
Promotion construction
of new housing and modernisation
as well as education
Promotion SMEs, business founders,
start-ups
Financing municipal infrastructure projects and global loans
Germany/Europe agency business for Federal Government
We promote Germany
International project and
export finance
We ensure internationalisation
We promote development
Promotion of environmental and climate protection
Business Area Mittelstandsbank
Business Area Privatkundenbank
Business Area Kommunalbank
Business AreaExport and Project
Finance
Business Area Promotion of
Developing and Transition Countries
Domestic promotion
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 4
Worldwide presence over 70 representative offices
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2000
3000
4000
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1948 1950 1960 1970 1980 1990 2000 2010 2011
KfW employees
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 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
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 6
Pilot Financial Initiative (PFI)General information
Memorandum of Understanding (MoU) on PFI was signed at the Baltic Sea States Summit in Stralsund, Germany, 31 May 2012
Initial PFI Partners: Council of the Baltic Sea States (CBSS) Secretariat, Russian promotional bank Vnesheconombank and KfW
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) intends to provide Vnesheconombank with long-term loans, for on-lending to projects. It is envisaged that the PFI will be extended to other financial institutions from the CBSS region joining the PFI as well.
Non-financial cooperation and know-how transfer: conferences, seminars, trainings
Pilot geographical regions: in the first phase Russian parts of the South Eastern Baltic Sea Area and on North West Russia, but shall be expanded to other parts of the BSR, depending on interest, and depending on accession by additional partner financial institutions to the PFI.
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 7
Pilot Financial Initiative (PFI)Phase I SME Finance structure
Vnesheconombankgroup
SME
SME
SME
SME
SMELocal banks partners
of the program
KfW
Local banks partners
of the program
Local banks partners
of the program
Promotional Long-term Loans
© KfW • KfW Bankengruppe presents itself • Frankfurt am Main 8
Pilot Financial Initiative (PFI)Phase I. PPP Finance structure
Vnesheconombankgroup
PPP projects(Waste treatment)
KfW
Promotional Long-term Loans
PPP projects(Water and Energy)
PPP projects(Local transport)
Thank you for your attention