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E R S T E G R O U P
4th VIENNA ECONOMIC FORUM5. -6. November 2007
Financing Solutions for Infrastructure FinancingJohannes Kinsky, Member of the board, Erste Group
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions2
Presentation topics
−Introduction
−Market/Potential
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions3
Introduction –Is Erste Group a pure retail bank?
−From a first perspective most would agree,
however
−Currently the large corporate and international business accounts for about 19% of the group’s risk weighted assets
−Nevertheless large corporate and international business is already highly efficient and profitable
−Group Corporates & Investment Banking (GCIB) already makes a significant contribution to the group’s success−Result of successful expansion efforts shows that we can do it (e.g. real estate, ECM & DCM in Austria, M&A in Czech Republic, structured finance)
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions4
Presentation topics
−Introduction
−Market/Potential
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions5
Market/PotentialFocus on Infrastructure Finance
−European Action of Growth identified 30 priority ten t projects amounting to an estimated
EUR 225 billion
of total investment cost
−European Council agreed for the period 2007 – 2013 on
Cohesion for growth and employment EURO 347 Billion
45,487 46,889 48,427 49,393 50,626 52,4 54,188
0
10
20
30
40
50
60
2007 2008 2009 2010 2011 2012 2013
Cohesion Policy Annual EU funding (2007 – 2013)
in Billion EURO
Source: EU
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions6
Market/PotentialFocus on Infrastructure Finance
0
0,4
0,8
1,2
1,62
2,4
2,8
3,2
3,6
4
4,4
2007 2008 2009 2010 2011 2012 2013
Czech Rep.
Hungary
Slovenija
Slovakia
Romania
Bulgaria
Greece
Annual EU Cohesion policy funding in selected markets (2007 – 2013) in Billion EURO
Source: EU
European Council agreed funds with an volume of EURO 347 Billion for the period 2007 – 2013 on Cohesion for growth and employment
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions7
Market/PotentialFocus on Infrastructure Finance
Railway km per 100.000 inhabitants in relation to GDP per capita
0
20
40
60
80
100
120
0 10.000 20.000 30.000 40.000 50.000
GDP in US$ per capita
Km
rai
lway
per
100
.000
in
hab
itan
ts
UA
RS
RO CR
SK
HU AT
CZ
Potential for upgrading the
network
and new HSL lines
Source: ERSTE Research and National railway companies
The size of the bubbles are determined by each country‘s GDP
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions8
Market/PotentialFocus on Infrastructure Finance
Km roads per 100.000 inhabitants in relation to GDP per capita
0
1.000
2.000
3.000
0 10.000 20.000 30.000 40.000 50.000
GDP in US$ per capita
Km
of p
aved
roa
ds p
er
100.
000
inha
bita
nts
UA
RS
RO
SK HU
AT
CZ
CR
Source: ERSTE Research and Transportation ministries
Potential for upgrading
and extension of the network
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions9
Market/PotentialFocus on Infrastructure Finance
Source: EU Research and
World health organization
Public hospital beds in relation to GDP per capita
0
200
400
600
800
1.000
1.200
0 10.000 20.000 30.000 40.000 50.000
GDP in US$ per capita
ho
spit
al b
eds
per
100
.000
in
hab
itan
ts
UA
RS*
RO
CR
SK
HUAT
CZ
*There is no data available on health expenditure in Serbia.
Potential to improve
medical care (acute centers,new
hospitals, retire
ment facilitie
s)
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions10
Market/PotentialFocus on Infrastructure Finance
−Funding requirements needs additional funding sources−JASPER−JEREMIE−European Investment Bank (EIB)−European Bank for Reconstruction and Development (EBRD)−European Investment Fund (EIF)−IFC
−Innovative financing mechanisms −Grant Programmes−Special-purpose funds−Commercial funding agencies −Public – Private - Partnership−Penion funds and other large institutions−Diversify and expand traditional revenue-raising sources
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions11
Market/PotentialFocus on Infrastructure Finance
−Liaison with multinational financing agencies (EIB, EBRD, IFC)
and EU-entities i.E.−European Comission−DG Engergy and Transport (DG TREN)−DG Market (Tenders)−DG Regio −European Agency for Reconstruction
to increase infrastructure finance activities−Support for applications of EU funds (European Regional Development
Fund, Cohesion Fund…….)−Assistance in preparation of bankable project−PPP advisory
E R S T E G R O U P
4th VEF - Vienna5. November 2007
Group Corporates & Investment BankingEB Group Financing Solutions12
Thank you very much for your attention