EPMF - JEREMIE PPP Examples in EU This presentation was prepared by EIF. The information included in this presentation is based on figures available for February 2012 Any estimates and projections contained herein involve significant elements of subjective judgment and analysis, which may or may not be correct.
Contents EIF: Microfinance activity overview EPMF: the EU Facility for microfinance JEREMIE: Micro and social finance
EIF and Microfinance
EIF Microfinance Activity CIP EPPA EU 27 Jasmine (Europe) Jeremie Progress 3
EIF/EU Microfinance Activities – overview Technical Capacity Debt and Risk Assistance Building Equity Funding Protection CIP Micro ? • Risk protection for bank intermediaries Progress Progress Transfer of second tranche complete • Wide offering of funded instruments for variety of needs • Risk coverage for • Bank and non-bank intermediaries across EU micro-loan portfolios • Social impact and employment focus Full deal pipeline reallocation during 2011 RCM Micro • Broad eligibility criteria including for EU JEREMIE EPPA candidate countries • Confined regional • Higher risk, earlier approach based on stage funding local needs JASMINE TA • Evaluations, ratings and training a varied scope of support for diverse market needs 4
European Progress Microfinance Facility (EPMF) 5
How does Progress Microfinance work? Fonds Commun de Placement (FCP) 6
EIF acts as EPMF’s Fund Manager Instruments to support the EU microfinance industry EPMF is a EUR 175 m investment fund + a EUR 25 m guarantee compartment It is implemented by financing, guaranteeing and investing in institutions that have the capacity to distribute and originate microloans “…EIF is specialised in developing financial Fund solutions for the development of Manager the European Microfinance EPMF EUR 100 EUR 75 sector...” million million FCP – SIF constituted in Luxembourg EUR 25 Guarantee million compartment € € Institutions that have capacity to deliver microloans € € € € € € microborrower microborrower microborrower 7
JEREMIE Micro and Social Finance 8
Instrument: Funded Risk Sharing for Microcredit Structure: micro FI Funds micro Loans At least 30% micro Joint micro resources micro JEREMIE Funds micro 70% micro 9
Instrument: Funded Risk Sharing for Social Finance Rationale “Social economy plays an essential role in the European economy, by combining profitability with solidarity, creating high- quality jobs, strengthening social, economic and regional cohesion, generating social capital, promoting active citizenship, solidarity and a type of economy with democratic values which puts people first, in addition to supporting sustainable development and social, environmental and technological innovation” 10
Instrument: Funded Risk Sharing for Social Finance Structure: SME/micro FI funds SME/micro Loans At least 40% SME/micro Combined SME/micro Resources SME/micro JEREMIE funds 60% SME/micro (zero rate) SME/micro 11
Contact Riccardo Aguglia Senior Investment Manager Guarantees, Securitization & Microfinance European Investment Fund 96, boulevard Adenauer L-2968 Luxembourg Tel.: (+352) 24 85 81 Fax: (+352) 24 85 81 200 www.eif.org 12
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