UNIVERSITY OF PENNSYLVANIA - AFRICAN STUDIES CENTER
SOURCES FOR FINANCING YOUR VENTURES
The following is a brief and partial listing of US Government, and International Organization sources available for financing international ventures. The intention of this piece is not to provide a comprehensive listing of all possible financing sources but instead to help give some basic direction to people beginning to explore their financing options. If you have suggestions, questions, or additions to this list, please send an email to CTIS@USAID.GOV.
UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT PROGRAMS
Established under the Support for Eastern European Democracy Act (SEED), the Enterprise Funds are mandated to promote private sector development in the Czech and Slovak Republics, Hungary, Poland and Bulgaria, through equity investments, loans and other related services. Support is considered for wholly-owned indigenous investments, joint ventures with U.S. partners and, to a lesser extent, subsidiaries of U.S. companies. The Fund's mandate is to support smaller to medium size companies with investments and loans in the $500,000 to $2 million range.
BULGARIAN-AMERICAN ENTERPRISE FUND 333 West Wacker Drive, Suite 2080 Chicago, IL 60606 Tel: (312) 629-2500 Fax: (312) 629-2929 (F) President & CEO: Frank L. Bauer Chairman: Gary E. MacDougal
3 Shipka Street Sofia 1504. Bulgaria Tel: (359-2) 44-18-62 Fax: (359-2) 44-30-18
CZECH AND SLOVAK AMERICAN ENTERPRISE FUND 1620 Eye Street, N.W. Suite 703 Washington, DC 20006 Tel: (202) 467-5480 Fax: (202) 467-5466 President: Stephen L. Wald (Prague) Chairman: John R. Petty
In the Czech Republic:
Blanicka ul. 28 120-00 Praha 2 Czech Republic Tel: (42-2) 2424-7046, 2424-7082 Fax: (42-2) 2424-6048
In the Slovak Republic:
Radinskeho 27 QUATTRO-P.O. Box 66/1 810-05 Bratislava 15 Slovakia Tel: (42-7) 32-65-44, 36-15-80 Fax: (42-7) 36-25-30
HUNGARIAN AMERICAN ENTERPRISE FUND 1620 Eye Street, N.W. Suite 703 Washington, DC 20006 Tel: (202) 467-5444 Fax: (202) 467-5496 President: vacant Chairman: John C. Whitehead
East-West Building (6th Floor) Rakoczi ut. 1-3 1088 Budapest Tel: (36-1) 266-7175, 266-7230 Fax: (36-1) 266-7086
POLISH-AMERICAN ENTERPRISE FUND 535 Madison Avenue New York, NY 10022 Tel: (212) 339-8330 Fax: (212) 339-8359 President & CEO: Robert G. Faris Chairman: John P. Birkelund
Polsko-Amerykanski Fundusz Przedsiebiorczosciul. Nowy Swiat 6/12 00-920 Warszawa, Poland Tel: (48-2) 625-1921, 625-2017 Fax: (48-2) 625-7933
RUSSIAN-AMERICAN ENTERPRISE FUND c/o Federal Reserve Bank of New York 33 Liberty Street Room 1101 New York, NY 10045 Tel: (212) 720-7595 Chairman: Gerald Corrigan
Commodity Import Programs
COMMODITY IMPORT PROGRAM (CIP) FOR EGYPT, JORDAN AND MOZAMBIQUE
Under the Commodity Import Program (CIP), USAID makes dollars available to the Egypt, Jordan and Mozambique on a loan or grant basis to pay for essential commodity imports from the United States. The CIP finances a variety of goods, including agricultural goods, construction and transportation equipment, fertilizer, chemicals, raw materials, semi- finished products and foodstuffs. CIP funds are allocated by the recipient government among its importers in the public and private sector. Public sector procurements are normally conducted using formal bidding procedures, while purchases by the private sector are through regular commercial channels. CIP opportunities are widely advertised in the Commerce Business Daily and USAID's Procurement Information Bulletin (PIB) to ensure maximum competition. Transactions are handled directly between American and foreign importers, but must meet the requirements of USAID Regulation 1 to be eligible for payment from USAID funds.
Jack Warner Office of Procurement Tel: (703) 875-1411 Fax: (703) 875-1957
Mailing list for PIB:
USAID Office of Small and Disadvantaged Business Utilization (OSDBU) Tel: (703) 875-1551 Fax: (703) 875-1862
RUSSIA ENERGY AND ENVIRONMENT COMMODITY IMPORT PROGRAM (EECIP) ($125 MILLION) The Energy and Environment Commodity Import Program (EECIP) will finance provision of U.S. equipment and related services designed to increase the efficiency of energy use and to improve environmental quality, primarily in the energy sectors in Russia and other NIS republics. Items that will be financed include such things as equipment to recover methane gas emissions, improve efficiency in district heating, pollution measurement and control instrumentation. Interested U.S. suppliers are advised to contact Russian importers, both commercial and governmental in the relevant sectors, to lay the groundwork for potential financing of purchases under this program at the earliest opportunity. Transactions should be selected in early 1994. Tenders for equipment (IFBs and RFQs) will be advertised by USAID's Office of Small and Disadvantaged Business Utilization beginning early 1994. To ensure receiving announcements of these tenders, U.S. suppliers are urged to call (703) 875-1551 or fax (703) 875-1862 and request to be placed on the OSDBU mailing list.
USAID, Office of Procurement USAID/Moscow Tel: (703) 875-1411 Energy Office Fax: (703) 875-195 (7) 095-956-4281
OTHER U.S. GOVERNMENT PROGRAMS
ACCESS TO CAPITAL PROGRAM -- AXCAPAccess to Capital, or AXCAP, supported by the Department of Commerce and managed by the Bankers' Association for Foreign Trade (BAFT), serves as a national catalogue listing all banks involved in trade finance and the programs that they offer. In addition, the database will include information on environmental projects of interest to exporters and banks. Thirdly, AXCAP will contain a national inventory of services offered by government export credit agencies. The AXCAP service will provide assistance with all aspects of trade financing procedures.
Eric Price Bankers' Association for Foreign Trade 1600 M Street, NW, Suite 7F Washington, DC 20036 Tel: 1-800 49AXCAP, (202) 452-0925 Fax: (202) 452-0959
AFRICA GROWTH FUND
The Africa Growth Fund is a privately owned, privately funded, privately managed investment company that takes positions in hightly profitable new and expanding business enerprises in sub-Saharan Africa. The Fund, which is owned by a select group of major U. S. corporations, was developed by the Overseas Private Investment Corporation (OPIC). The Fund is managed by Equator Investment Services Llimited, an affiliate of Equator Bank.
U.S. DEPARTMENT OF AGRICULTURE:
Exporters interested in programs and services provided by the USDA's Foreign Agricultural Service (FAS) may contact the Trade Assistance and Promotion Office (TAPO). The TAPO serves as a single point of contact for persons who need foreign market information and export assistance.
Leanne Hogie Trade Assistance and Promotion Office Room 4939-South Building U.S. Department of Agriculture Washington, D.C. 20250-1000 Tel: (202) 720-7420 Fax: (202) 690-4374
EXPORT-IMPORT BANK (EXIMBANK) The Export-Import Bank is an independent U.S. government agency that helps finance the sale of U.S. goods and services to foreign buyers. Eximbank supports export sales by providing direct loans to foreign buyers; guarantees to U.S. and foreign commercial lenders for credit risk protection, export credit insurance to U.S. exporters against failure of foreign buyers to meet payment obligations, and pre-export financing for small business through its Working Capital Guarantee Program to support production or marketing of products or services for export. Eximbank finances renewable energy projects, that incorporate geothermal, solar, wind, hydroelectric, cogeneration and biomass technologies. It finances a wide variety of U.S. environmental exports such as design and construction services for a large public sector waste water treatment facility, pollution control equipment, clean, energy-efficient technologies for industrial and manufacturing companies in the private sector, and clean-up or treatment of water, air and solid waste.
John Wisniewski, Vice President Environment & Renewable Energy Engineering Division Eximbank 811 Vermont Avenue, NW Washington, DC 20571-0999 Tel: (202) 566-8802 Fax: (202) 566-7524
OVERSEAS PRIVATE INVESTMENT CORPORATION (OPIC)The Overseas Private Investment Corporation (OPIC) supports economic growth in developing countries by facilitating U.S. private investment through investment loans, loan guarantees and equity, insuring investments against political risks, and providing pre-investment information and referral services.
Overseas Private Investment Corporation 1100 New York Avenue, NW Washington, DC 20527 OPIC InfoLine: (202) 336-8799 OPIC FactsLine: (202) 336-8700
THE SMALL BUSINESS ADMINISTRATION (SBA) offers loan guarantees to qualifying companies to assist them in entering international commerce or in expanding existing businesses. SBA guarantees pre-export financing of expenses for production, purchase and marketing of goods and/or services for export. SBA guarantees reduce the risk to lenders of lending to small business, and allows small businesses to borrow on more reasonable terms, such as longer-term maturities (rather than low interest rates). SBA guarantees up to $1 million for facilities and equipment and up to $250,000 for working capital.
Sheldon Snook Office of International Trade U.S. Small Business Administration 409 Third Street, SW Washington, DC 20416 Tel: (202) 205-6720 Fax: (202) 205-7272
TRADE AND DEVELOPMENT AGENCY (TDA)The U.S. Trade and Development Agency (TDA) promotes economic development by funding feasibility studies, training programs, consultancies, and seminars in developing countries. TDA supports major projects in the public sector that offer large export or investment potential for U.S. companies. All proposed projects must have the host government's approval, meet a development priority, U.S. export potential, and untied financing options. It is the responsibility of the host government agencies to request financing, either directly to TDA or through the local U.S. Embassy, but U.S. companies may bring these projects to the attention of TDA. TDA's participation usually ranges from $150,000 to $750,000. Eighteen percent of TDA's program budget goes to environmental projects.
U.S. Trade and Development Agency Room 309, SA-16 Washington, DC 20523-1602 Tel: (703) 875-4357 Fax: (703) 875-7447
INTERNATIONAL FINANCIAL INSTITUTIONS (IFIS)
MULTILATERAL DEVELOPMENT BANKS (MDBS)The Multilateral Development Banks (MDBs) finance environmental and energy infrastructure projects for which procurement of technical assistance, civil works, materials and equipment are necessary. The MDBs provide loans to host country government ministries and agencies, which implement projects under local procurement and contracting regulations. A U.S. business wishing to compete for these opportunities, must participate in the countries' government procurement bidding process. The Department of Commerce manages a Liaison Team to assist U.S. businesses in pursuing these opportunities and obtaining information about projects and the procurement process.
Catherine Houghton Janet Thomas SCA & AFDB Liason Officer Asian Development Bank American Embassy Abidjan 6 ADB Avenue Department of State 1501 Mandaluyong Washington DC 20521-2010 Metro Manila, Philippines Tel: (225) 21-46-16 Tel: (63-2) 632-6050 Fax: (225) 22-32-59 Fax: (63-2) 632-4003 DC contact: Barnara White DC Contact: Mary Alice Healy Tel: (202) 482-4160 Tel: (202) 482-4333 Fax: (202) 482-4775 Fax: (202) 482-4775
Thomas Kelsey Michelle Miller European Bank for Reconstruction Inter-American Development Bank and Development 1300 New York Avenue, NW 122 Leadenhall Suite 1101 NE London EC3V 4EB, United Kingdom Washington, DC 20577 Tel: (44-71) 408-6503 Tel: (202) 623-1150 Fax: (44-71) 491-6487 Fax: (202) 623-3612 DC Contact: Michelle Miller
Janice Mazur The World Bank 1818 H Street, NW Washington, DC 20433 Tel: (202) 458-0118 Fax: (202) 477-2967
INTER-AMERICAN INVESTMENT CORPORATION (IIC)
The Inter-American Investment Corporation (IIC) is an affiliate of the Inter-American Development Bank that provides medium and long-term financing and equity investment to private investors. The IIC invests in projects in Latin America's developing countries, assigning priority to small and medium-scale companies. The IIC also provides financial and technical counseling for the preparation of project pre-investment and feasibiity studies. Applications for financing should be made directly to the IIC.
Maximo E. Flugelman Inter-American Investment Corporation 1300 New York Avenue, NW Washington, DC 20577 Tel: (202) 623-3930 Fax: (202) 623-2360
INTERNATIONAL FINANCE CORPORATION (IFC)
The International Finance Corporation (IFC) supports its clients with a full array of financial and advisory services. Project financing is offered through loans, equity investments and other financial instruments, such as hedging and swap transactions. IFC mobilizes additional financing from international commercial banks through loan syndications and securities underwriting. IFC advisory services and technical assistance help private businesses to increase their chances of success. IFC provides minimum support of $10 million.
International Finance Corporation 1850 I (Eye) Street, NW Washington, DC 20433 Tel: (202) 477-1234 Fax: (202) 477-6391
Under the IFC, the African Enterprise Fund (AEF) was created to foster growth of enterprises in Africa. The AEF provides up to 40 percent of the equity or dept capital required for a $250,000 to $5 million project in 41 member countries in Africa.
African Enterprise Fund 1818 I (Eye) Street, N.W. Washington, D.C. 20433 Tel: (202) 473-0398 Fax: (202) 676-9707
NORTH AMERICAN DEVELOPMENT BANK (NADBANK)
The North American Development Bank (NADBank) has been established by the NAFTA implementing legislation to facilitate border environmental clean-up and to provide additional support for community adjustment and investment related to NAFTA. Ninety percent of the $2-3 billion in financing will be dedicated to border environmental projects. Initially, priority will be placed on waste water treatment, water pollution, and municipal waste problems. Projects financed by the NADBank will require certification by the Border Environment Cooperation Commission (BECC). The NADBank will be capitalized in October 1994.
Matthew Hennesey, Director Office of Multilateral Development Banks Under Secretary for International Affairs U.S. Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, DC 20220 Tel: (202) 622-1810 Fax: (202) 622-0073
UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION (UNIDO)
The United Nations Industrial Development Organization (UNIDO) has established the Industrial and Technological Information Bank (INTIB) to act as a clearinghouse for information about industry in developing countries to support sound technological and business decisions. INTIB offers the Industrial Inquiry Service (IIS), which is staffed by highly qualified industrial information specialists, who can provide immediate answers and comprehensive follow up to a broad range of inquiries. INTIB has developed a database of information of technology offers, joint venture opportunities, information sources, technology transfer agreements, and environmental technologies. Most services are free of charge, however, modest fees are indicated for extensive research, packaging or copying.
V. Podshibyakin, Chief Industrial and Technological Information Bank (INTIB) UNIDO P.O. Box 300 Wagramerstrasse 5 A1400 Vienna, AUSTRIA Tel: (1) 21131-3691 Fax: (1) 230-7584
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