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FINANCING THE PROJECTS

POLEKO 21 November 2012

Kjell Arne Nielsen

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We contribute to

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• Innovation in Norwegian trade and industry

• Making Norwegian businesses competitive domestically and internationally

• Promoting the reputation of Norwegian businesses

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Our services

Promotional services

Competenceservices Advisory

services

Networking services

Financing services

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Industrial Research and development Program (IRD)-programmeTargets• New business relations and

partnerships based on cooperation in development

• To succeed in commercialization and marketing of new products

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An opportunity for foreign companies because:

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• …they want to build new business relations and partnerships based on co-operation in the process of developing new products.

• … they want to have access to innovative and highly competent Norwegian companies. (SMEs)

• … they want to use the support from Innovation Norway to stimulate new partnerships.

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The role of the demanding customer: • Active participation in the

project and with good references and market channels

• Polish companies typically provides time in requirement specification and acceptance testing / pilot production.

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The roles of the actors

Innovation Norway

•Support the business relations

•Covers part of the R&D-costs

IRD-contract:

Market driven innovation

Norwegian company

(SME)

Demanding customer

New products

Demanding customer (Foreign company)•States requirements for new products or solutions for a global market.

References and market channels

Norwegian Supplier• Provides product and services from R&D

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Other relevant tools for financing

NORDIC INVESTMENT BANK

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GIEK offers financial guarantees • The aim is to promote Norwegian exports

• Guarantees are subject OECD export credit rules

• GIEK guarantees the funding bank, taking the commercial, and/or the political risk on the project

• The funding bank is normally Export Credit Norway, but GIEK may also guarantee other international banks.

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• Fully owned by the Norwegian government• politically independent

• Main guarantee limit of NOK 120 Billion• abt. PLN 60 Billion

Owned by Norwegian Government

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Export Credit Norway

• Fully owned by the Norwegian Ministry of Trade and Industry.

• “OECD Arrangement on Government Supported Export Credits”.

• Export Credit Norway plays an important role in the Government Supported Export Credits by providing Long-term and stable funding.

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CIRR – loans (Commercial Interest Reference Rate)

• A CIRR loan is fixed for each currency and are quoted every months.• Example 15th Nov: 5,17%/pa based on PLN.• The loan repayment period is from 2 to 12 years. • For some purposes, may be extended up to 18y

• Export Credit Norway offers export financing for up to 85% of the export contract value. • All loans must be guaranteed.

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NORDIC INVESTMENT BANK• Founded by the Nordic

countries in 1975• Headquarters in Helsinki, 190

staff• Lending in both member

countries and focus countries• Environmental and

Competitiveness mandate• AAA/Aaa credit rating

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NORDIC INVESTMENT BANK

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Bank Ochrony Srodowiska

• Loan programme totalling EUR 30 million

• For projects that improve the environment, providing in particular:• renewable energy solutions• energy-efficiency measures• wastewater treatment systems.

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NORDIC INVESTMENT BANK

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Summing up• Norwegian companies can and will contribute in

meeting Poland’s requests for eco-friendly solutions.

• Projects may e.g. be part financed by• Grants and loans from Innovation Norway• Norwegian Government Guarantees• Norwegian Government Export Financing• Nordic Investment Bank e.g. via BOS in Poland