Working with the EBRD Information & Communication Technologies (ICT) Sector Prague, 1 , 15 M March 2 2018 OFFICIAL USE
EBRD – IFI with a private sector mandate The E European B Bank f for R Reconstruction a and D Development fosters t transition to m market e economies i in c countries from Ce fr Central and E Eastern E Europe to to Ce Central Asia a and the S Southern a and E Eastern Mediterranean r region: AAA-rated International Financial Institution founded in 1991 to meet the challenge of rebuilding the post- Hist Hi story communist economies of Central and Eastern Europe Mi Mission Foster the transition towards market-oriented economies and to promote private initiatives in countries committed to the principles of democracy Co Core va values Investments must meet strict environmental, social, governance and integrity standards, supporting sustainable development and transparency Owned by 66 countries and two inter-governmental institutions, the European Union and the European Sharehold Sh lders Investment Bank. Lebanon has become the latest shareholder of the Bank in July 2017 Cl Client se sectors All key economic sectors including financial institutions, infrastructure, energy and the general corporate sector, including agribusiness and ICT Instruments In Long-term market based debt, equity and mezzanine financing and technical assistance Over 1,900 employees from all member countries, working in sector, product, regional, support and Staff St control functions, including about 30% staff in Countries of Operations 1 Locations Lo Headquarters in London, with over 40 resident offices in its 38 countries of operations in Central and Eastern Europe, Central Asia and the Southern and Eastern Mediterranean region Notes: 1 Total number of staff includes regular and fixed term employees, but excludes the President and Vice Presidents, Board members and externally funded positions. Data as of 30 Jun 2017. OFFICIAL USE 2
What makes EBRD special Mandate : transition toward well-functioning, • sustainable market economy – recently identified 6 qualities • Focus on Private Sector : key conduit of delivery across the full capital structure • Policy Connectivity : engagement multiplier • Mobilisation : financial multiplier Market Pricing : working with markets without • market distortion • Sector knowledge & locally Embedded : Strong sector teams with network of local offices • Preferred creditor status : privileges and immunities provide risk mitigation 3 OFFICIAL USE
Projects in all key business sectors Transport Municipal & Property & Environmental Tourism Infrastructure Financial Natural Resources Information & Institutions Communication Technologies Manufacturing Power & Industry, & Services Energy Commerce & Agribusiness 4 OFFICIAL USE
Where we invest – increasing footprint Estonia— Latvia— Russia Lithuania— Belarus Poland Czech Republic— Ukraine —Slovakia Kazakhstan —Moldova Mongolia —Hungary Slovenia— —Romania Croatia— —Serbia Bosnia and Herzegovina— Uzbekistan— —Bulgaria —Kosovo Montenegro— Georgia— —Kyrgyz Republic Albania— Armenia— FYR Macedonia —Tajikistan Turkey Azerbaijan —Turkmenistan Greece Tunisia— Cyprus Lebanon —Morocco West Bank and Gaza —Jordan Egypt— Armenia, Azerbaijan, Belarus, Georgia, Moldova, Central Asia Central & Cyprus Turkey Ukraine Western Balkans SEMED (incl. Mongolia) Eastern Europe Greece OFFICIAL USE
EBRD largest investor in the region Since 1 1991 , EBRD invested over € 11 119 bi billion in : € 9.7 .7 b billion / / 4 412 pr proje jects In 2017: In around 5,0 ,035 projects across private and public • Private sector accounted for 71% share sectors in its countries of operations • Debt 84%, Equity 5% & Guarantee 11% EBRD Top 10 Investee NCBI = I = N Net C Cumulative B Bank In Investment Countries in 2017 (in € million) 12 130 Net c 1 Turkey 1,540 110 cumula I) (ABI) 10 2 Egypt 1,413 1,4 1,0 0,7 90 investment ( 0,4 8 lative B 3 Ukraine 740 1,2 70 6 4 Poland 659 Bank In 50 8,7 8,5 8,5 8,2 5 Greece 614 4 l business i 6,9 30 Investment 6 Kazakhstan 586 2 10 7 Romania 546 -10 Annual b 0 2013 2014 2015 2016 2017 8 Azerbaijan 456 Equity ABI 9 Serbia 382 Debt ABI (and guarantees) 10 Tunisia 324 Net Cumulative Bank Investment Note: unaudited as at 31 December 2017 OFFICIAL USE 6
EBRD provides financing solutions “Typical” investment profile § Minimum ticket is equivalent to EUR 1 million with a maximum size in excess Ty Typical Si Size of EUR 200 million De Debt in instruments : typically from 4 to 10 years Te Term/ § Holdin Ho ing pe perio iod § Equity In Eq Investments : typically from 4 to 7 years § De Debt : public and private instruments, fixed and floating, syndicated loans, bonds In Instruments § Eq Equity : Private Equity, IPO, Venture Capital Equity : convertible loans, subordinated loans, loans with warrants § Qua Quasi Eq Currency Cu § Local and major currencies (USD, EUR, CHF etc.) § EBRD typically acts as a co-investor along other sponsors Investments In § EBRD’s stake typically does not exceed 35% of the total investments (equity approac ap ach/Li Limits and debt) or 50% in case of syndication with other international banks Growth funding, consolidation, working capital, green/brown fields, JVs, § Ap Applica cation ons privatization etc. Exact financing terms are defined by existing market conditions OFFICIAL USE 7
Information and Communication Technologies Team Portfolio Cumulative financing to date: € 4.3 Ø .3 bi billion Ø Current portfolio: € 1 1 bi billion 187 deals ranging from a few million to over € 200 million in 36 countries Ø ICT Portfolio volume by Selected Subsectors Mobile & fixed line Ø IT services Ø 3% 25% Cable TV Ø Digital Switch Over Ø 35% Ø Towers Ø Software Ø Satellites Ø Outsourcing 5% 32% Ø Fibre Ø Systems integrators Wireless broadband Ø Call centers Ø Data centers Ø Outdoor advertising Ø Fixed Line/Integrated Telcos Ø MVNO Ø Internet IT Services Mobile Ø Pay-Tv Ø Cleantech Media/Other VCIP Ø Mobile payments Ø Smart City OFFICIAL USE 8
EBRD’s Knowledge Economy Initiative (KEI) Knowledge E Economy m means: Kn Knowledge Ec Economy In Initiative (KEI) launched by EBRD in 2012. Targets 4 key areas: § Technological dynamism, § Innovation policy, § Including in those sectors not always associated with cutting edge innovation, § Investing in Information infrastructure, such as agribusiness or heavy industry. § Technological upgrading for industry; and In o In order t to t thrive, t , the k knowledge e economy relies o on 4 p pillars: § Financing for small innovative tech companies. § An adequate institutional framework, Co Combi bines es in investment, po policy di dialogue an and do donor- § Good education, fu funded te technical as assistan ance. Invested ne In nearly EUR EUR 1.2 bi billion on in in mo more th than 40 40 § Strong communications infrastructure projects. pr § A supportive financing environment. OFFICIAL USE 9
Financing and Support for small innovative tech companies: Investment, Support and VCIP EBRD provides: EBRD’s ’s V Venture C Capital In Investment P Programme - Established 2 2013 In Investment: : direct and § € 100m facility for direct investment in early and growth stage companies indirect through local § Invest alongside experienced venture capital investors. and international VC funds as well as private § Covers all technology early a and g growth s stage VC investments. equity funds. Investment size: € 1m to € 10m over the lifetime of the investment. § Key criteria f Ke for i investment: Support: Su : EBRD’s Small § An innovative, technology-based solution or business model; Business Support programme connects § A defensible competitive advantage; a large addressable market; the entrepreneurs with local potential for fast growth; and international experts, giving them the § An ambitious, motivated and committed management team; knowhow they need to § The ability and desire to create value for shareholders; and develop their companies successfully. § A significant proportion of operations based in our target geographies. OFFICIAL USE 10
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