www.ismea.it

www.ismeaservizi.it

INTERNATIONAL COOPERATION –

SETTING UP/ DEVELOPMENT OF

GUARANTEE SCHEMES

Case study Financial System Development

Mongolia with Società Gestione Fondi per

l’Agroalimentare (ISMEA/SGFA)

Giorgio Venceslai

ISMEA

ISMEA => supervision of Ministry of Agriculture

Agricultural markets prices data collection

Venture capital, credit and guarantee instruments for agriculture

Insurance services

Technical assistance to central and local administrations

Credit rating models

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ISMEA FI ACTIVITIES

SGFA

(100% ISMEA)

State Counterguarantee

Subsidiary guarantee

(1961)

First call guarantee

(2008)

Portfolio guarantees

(2013)

Venture capital

fund (2013)

Credit fund

(2015)

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CONFERENCE (OCTOBER 2010)

• AECM and ISMEA presentation On behalf of

AECM

• Basle II

• State aid guarantee scheme The legal

framework

• Direct

• Subsidiary

• Counterguarantee

Different guarantee

models

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CONFERENCE (OCTOBER 2010)

• …the risk…

• …the loss Sharing..

• Germany

• Portugal Two european models

• How to manage the moral hazard

• The role of the State counterguarantee

Main focus

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THANK YOU FOR YOUR ATTENTION

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