financing of cluster projects conference & workshop „maritime clusters in landlocked...
TRANSCRIPT
Financing of cluster projects
Conference & Workshop
„Maritime Clusters in Landlocked Countries“Prague, 27th April 2009
Petra Klůnová, European Competence Center
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Sources of cluster financing
Proportions of 3 basic resources vary according to external and internal factors (e.g. region, maturity of the cluster, type of initiative etc.)
In a very early stage (Czech Republic, other CEE countries), public financing (EU, state, region) is a key factor to boost cluster development
Subsidy element could be crucial for private/banking sector to be willing to provide additional external financing
Own resources of the cluster
(membership fees, incomes from cluster activities etc.)
Bank financing(credits, guarantees, export finance etc.)
Public financing(EU Funds,
regional programs etc.)
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Bank financing
Financial products have to be adjusted to individual client needs
Most frequent bank financing of clusters in the Czech Republic is the financing of EU-funded projects (pre-financing & co-financing)
Credit financing has to be structured according to approved EUF project conditions
Pre-financing: short- to mid-term financing:
Bridging the time gap between realization of the project and EU subsidy payment Risk assessment is identical as in cases of classical financing
Payment risk – covered partly by subsidy Performance risk – determined by fulfillment of subsidy conditions
Bank analyses client’s rating as well as the project quality Approved subsidy doesn’t automatically mean that also credit will be provided
Co-financing: mid- to long-term project financing
Identical conditions as above More strict evaluation depending on the time-factor The resource of repayment is not the subsidy –> primary resource is the future cash flow Involvement of own resources is always required !
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What will the bank ask from the cluster?
Project/business plan
Accounting statements
Extract from the commercial register
Description of relationships and connections
Financial plan
Description of external resources needs
Quality and meaningfulness of the project
Credit rating and credibility of the client (rating can be actively improved in cooperation with the bank)
Communication with the financial institution since the early beginning
Market position and competitiveness of the sector/cluster, development
Management, accounting and other „soft“ factors
Members base and structure of the cluster
Key success factors
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What does UniCredit Bank offer to clusters?
Information support
Subsidy audit
Expert support in preparation of projects and applications
Cash-flow modelling and project financing
Recommendations on project management and monitoring
Elaboration of project applications for subsidy programmes
International know-how and networking
Contact the financial institution before you start the project preparation
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Expertise and experience of UniCredit Bank
High quality solutions for different types of clients and segments
Intensive coverage of the CEE region and of the entire Europe and close cooperation between the individual banks with regard to special products for international clients
No.1 bank for international investors in the Czech Republic
Exclusive distributor of EU funds on behalf of the Ministry of Finance until 2010: total amount of funds paid to subsidy receivers from EU funds reached almost CZK 50bn by the end of 2008
Dedicated European Competence Centre for EU funds advisory:
Consulting services (management, realisation, monitoring, etc.): hundreds of clients advised each year => tens of projects realized
Cluster know-how within the team – experience with the cluster concept implementation and EU funds based financing
Experience with regional „cluster clients“ servicing (incl. cluster members)
International network – CEE expert centres providing high-quality services in the domain of grants, subsidies and project management.
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Countries where the group operates via local banks controlled by the group or with a significant equity interest
Country where the group operates via its own branches, representative offices, small bank subsidiaries or investment centers (Pioneer)
Countries where the European Competence Centers are established
UniCredit Group: an extensive experience from international cooperation within the ECC network thanks to the intensive communication between European Competence Centres in all countries.
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UniCredit is the first truly European bank…
Source: internal data as to 3Q 20081 Data as to November 2008
Global thinking with multi-local approach
Creation of long-term sustainable values
Complementing the best practice methods from the entire group within each of its parts
Development of the best from the local cultures with the support of the proven and established brands
Banking activities in 22 countries
40M clients
Over 10,280 branches 177 000 employees
Awards 2009: - Best Bank for Payments & Collections- Best Trade Finance Provider in CEE
Among 20 largest world banks in terms of capitalisation1
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Contact details
Petra Klůnová, senior expert
European Competence Center
UniCredit Bank Czech Republic, a.s.
Naměstí Republiky 3a
110 05 Praha 1
+ 420 221 112 977
+ 420 602 145 708