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NIB – Financing in North-West Russia

NIB – Financing in North-West Russia. Petrozavodsk June 4, 2010 Mr. Igor Kovtun, General Representative in Russia. Iceland. Norway. Finland. Sweden. Estonia. Latvia. Denmark. Lithuania. Northern Europe's International Financial Institution. Nordic and Baltic countries as owners

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NIB – Financing in North-West Russia

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  1. NIB – Financing in North-West Russia Petrozavodsk June 4, 2010 Mr. Igor Kovtun, General Representative in Russia

  2. Iceland Norway Finland Sweden Estonia Latvia Denmark Lithuania Northern Europe's International Financial Institution • Nordic and Baltic countries as owners • Started activities in 1976 • Baltic countries joined in 2005 as owners • AAA/Aaa credit rating • Lending in member countries and selected focus countries • Headquarters in Helsinki

  3. Financial performance ** Core earnings consist of the profit before adjustments to hedge accounting, realised and unrealised gains and losses of the trading portfolio and credit losses and reversals of these April 2010

  4. Mission and strategy • NIB promotes sustainable growth of its member countries by providing long-term complementary financing to • projects that strengthen competitiveness • projects that enhance the environment • NIB puts particular emphasis on projects involving investments in the following sectors • environment • infrastructure • energy • innovation • NIB finances • large investments by the corporate sector, infrastructure projects, PPPs, investments improving environment in e.g. municipal sector. • small and medium-sized enterprises through financial intermediaries.

  5. Long-term financing • Co-financing normally up to 50% of the total project cost; • Close cooperation with other international financial institutions as well as commercial banks, export credit institutions and development assistance organisations; • Long-term lending instruments: • Sovereign loans to the state or against state guarantees (15-25 years) • Subsovereign loans directly to municipalities (10-20 years) • Corporate loans (5-15 years) • Limited recourse financing including PPP-financing (5-15 years) • SME financing through financial intermediaries (5-12 years) • Grace period up to 5 years • Institutional strengthening in connection with specific projects; • Support for project structuring and technical assistance.

  6. Iceland Norway Finland Sweden Estonia Latvia Denmark Lithuania NIB in Russia • Northwest Russia is natural focus area for environmental projects for NIB. • Agreement with the Government of the Russian Federation for financial co-operation since 1997. • "No objection" by the Ministry of Finance of the Russian Federation to all loans from NIB to Russian borrowers.

  7. Enhancing the environment in Russia • All projects considered forfinancing undergo assessmentof potential environmental impact. • The Northern Dimension Environmental Partnership (NDEP) – grant financing. • Financed projects include waste water treatment by Vodokanal of St. Petersburg, environmental investments by two Russian pulp and paper factories, pipeline includes e.g. municipal investments in Novgorod and Kaliningrad, Petrozavodsk.

  8. Strengtheningcompetitiveness Projects in the following sectors and areas of economy: • Infrastructure; incl. energy, transport, telecoms, social infrastructure • Strategic capital investments,incl. company acquisitions • R&D and innovation • Financed projects in Russia include mobile phone network investments, investments improving energy generation and distribution undertaken by TGC-1 and Lenenergo, Pulkovo Airport PPP, several credit lines at Russian banks. More on the web: /www.nib.int/loans/loan_process

  9. NDEP Projects with NIB participation • St. Petersburg Vodokanal Waste Water Treatment Plant - completed • St. Petersburg Northern Sludge Incinerator -completed • St. Petersburg Flood Protection Barrier – final stages • Leningrad Oblast Municipal Services I – to be extended • St. Petersburg Neva Collector - commenced • Kaliningrad Water and Environmental Services – commenced • Novgorod Water and Waste Water Rehabilitation - starting • Murmansk District Heating - delayed • Petrozavodsk Water and Wastewater Services – to be signad • Leningrad Oblast Municipal Services II – under preparation

  10. NIB Role • Long term financing; • Modern technologies and know-how; • Environment; • Experience; • Support to SMEs; • Development of cooperation;

  11. NIB – Lending in Russia • Soren K. Mortensen, Senior Director, Area Head • Marjo Harri, Senior Manager, Origination (marjo.harri@nib.int) • Jan Johansson, Senior Manager, Origination (jan.johansson@nib.int)Environmental Projects, NDEP • Igor Kovtun, General Representative for Russia (igor.kovtun@nib.int)Representative office in MoscowNovinsky Garden BuildingBolschaya Molchanovka , +7 (495) 9611031; mob. +7(985) 6432264

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