162x Filetype PPTX File size 2.29 MB Source: www.mmr.cz
Implementation options January 2016 2 Slovak Investment Holding New initiative proposed by the Ministry of Finance of the Slovak Republic to support national investment priorities → Centralised and more efficient implementation of ESIF via financial instruments Mandate: Government Resolution no. 736/2013 ESIF allocation: min. 3% from each OP Expected total allocation: approx. EUR 546m Manager: SZRB Asset Management Supervisory Board: nominees from Managing Authorities Investment strategy: in line with OPs; proposed by the manager and approved by the SB Mechanism: Fund of funds (CPR, AIFMD, Slovak Collective Investment Law) January 2016 3 Governance Structure Ministry of Finance of Key the Slovak Republic Public sector Private sector Slovak Guarantee and Development Bank (SZRB) SZRB Asset Management Manager after 2015 (SZRB AM) Slovak Investment Holding Waste Slovak Level 1 Guarantee and SME Fund Social Economy Energy Efficiency Management and Infrastructure Development Fund Fund Energy Fund Fund (SZRF) – ) Production Fund JEREMIE 1s r o t s e Level 2 Financial v n Intermediaries I Level 3 Projects / Final Recipients Notes 1) Potential co-financing IFIs: EBRD, EIB, CEB, KfW, IIB; potential private investors: commercial : and investment banks & equity investors January 2016 4 Funding Agreements Funding Agreements are 3-party contracts between SIH, SZRB AM and OP Managing Authorities stating the terms and conditions for making contributions from Operational Programs to financial instruments implemented via SIH The key components include: The amounts of ESIF and national co-financing allocations from each Operational Program The conditions for the implementation and management of Financial Instruments The investment strategy for the implementation of Financial Instruments The rights and responsibilities of the three parties to the contract before, during and after Financial Instrument implementation OP Integrated Infrastructure, OP Quality of Environment, Integrated Regional OP and OP Research & Innovation Funding Agreements (4 out of 5) were signed for a total of EUR 474m January 2016 5 Potential Investor Participation Investment Investor Examples of Investment Options Type LE Investments into Infrastructure Fund VE sub-funds Limited Partner Energy Efficiency Fund L 1 SME Fund LE Financial Financial JEREMIE (First Loss Portfolio Guarantee (FLPG) VE intermediaries intermediary Portfolio Risk Sharing Loan (PRSL) L 2 Energy efficiency loans LE D4R7 VE Co-investment at Co-financing Renewable energy sources L 3 project level institution Waste Management Fund January 2016 6
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