1. Spanish FIEM Fund August- September 2017
Durante las últimas décadas la economía española se ha caracterizado por dos procesos paralelos:
una apertura económica y
una internacionalización de su base empresarial:
Estos factores han resultado claves de su crecimiento:
No solo coyunturalmente (cuando la Demanda interna ha caido las empresas han solventado este problema saliendo al exterior)
Sino estructuralmente (empresas que salen fuera aumentan su competitividad).
Los Instrumentos de Apoyo Financiero a la Internacionalización han acompañado, respaldado y potenciado este proceso. El FIEM es uno de ellos.
Spanish FIEM Fund
August- September 2017

2. Index
Official financial instruments to support the internationalization of Spanish companies 1 2
FIEM:
basic characteristics
financial conditions 3
Examples of FIEM projects 4
Contacts

3. 1 2 3 FIEX/FONPYME Equity and quasi-equity CARI/FIEM Credit (FRRI)
1.- Official financial instruments to support the internationalization of Spanish companies 1
FIEX/FONPYME
Equity and quasi-equity 2
CARI/FIEM
Credit 3
(FRRI)
Assurance

4. Index
FIEM:
BASIC CHARACTERISTICS
FINANCIAL CONDITIONS 2

5. 2.-FIEM | BASIC CHARACTERISTICS
Supports:
exports of goods and services
direct investment
Origin in FAD (FIEM since January 2011), improved and extended
Subject to the Arrangement on Officially Supported Export Credits (OECD Consensus)
Approval: FIEM Committee. Council of Ministers
Financial Agent: ICO

6. 2.-FIEM | BASIC CHARACTERISTICS
Contractors: Spanish companies (wide interpretation)
Beneficiaries: Non-resident public or private entities
Guarantees: Sovereign, sub-sovereign, private, project finance...
Excluded sectors: Health, basic education and defense, paramilitary and police equipment
Eligible countries: case-by-case basis
Currency: all officially quoted currencies by the ECB, however mainly euro or dollar

7. 2.-FIEM | TARGET COUNTRIES IN 2017
In America: Argentina, Brazil, Canada, Chile, Colombia, United States, Mexico, Peru and Uruguay. 
In Asia and Oceania: Bangladesh, China, Philippines, India, Indonesia, Kazakhstan, Myanmar, Pakistan, Uzbekistan and Viet Nam.
In Sub-Saharan Africa: Aouth Africa and Kenya.
In Middle East: Countries from the Gulf Cooperation Council–Bahrein, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates -, Israel e Iran.
Mediterranean countries: Morocco, Turkey y Egypt.
HIPC countries: Côte d’Ivoire, Senegal, Ruanda, Uganda, Ethiopia, Madagascar y Tanzania
TOTAL: 39 COUNTRIES (The listed countries are merely indicative)

8. 2.-FIEM | Financial Conditions
Financing in commercial terms
Interest rate: CIRR + CESCE equivalent premium
Funding limits established by OECD consensus
Repayment terms: up to 8.5 years for developed countries. Upper limits for certain sectors
OECD Commercial interest rate CIRR (monthly validity)
CIRR rates currently valid (15 August - 14 September 2017):

9. 2.-FIEM | Financial Conditions
Tied concessional (soft) financial support
Restricted to lower-middle income countries according to World Bank's classification
Minimum Concessionality level (grant element): 35%
Least developed countries (LDCs): 50% minimum
HIPC countries: Financing is possible, but exceptional
Special Financing lines for studies: EVATIC

10. 2.-FIEM | Financial Conditions
Senior debt, FIEM does not participate in equity
Independent analysis (due diligence)
Guarantees for the operation:
Country
Public or Private debtor
Project (project finance)
Currency: Mainly Euro or USD (the law allows exceptionally other currencies)

11. 2.-FIEM | Credit Lines
Credit line in commercial terms for small investment or export projects:
Endowment: €50 millions
Maximum size of the financed project: €3 millions
Currency: euro or dollar
Approval: FIEM Committee
Special conditions: (Maximum repayment terms 8 years, minimum rate required CC3 for CESCE or C+ for COFIDES, HIPC excluded)
Credit line “FIEM-Facilidades UE:
Maximum amount of credit financed by FIEM (in general) €30 millions
Multicounty credit line
Untied credit
Co-financed with EU (Blending)
Public or private beneficiary
EVATIC line:
Endowment: €20 millions
Repayable credit for technical assistance, engineering and consulting services
2 Tranches (Concesional, commercial terms) depending on the size of the operation
HIPCs excluded

12. Balance 2011 – 2016
The total amount of FIEM credits approved in the period amounts to million € (in blue)
The value of the contracts linked to these funding amounts to million € (in green)

13. Index
Examples of FIEM projects 3

14. 3.-PROJECTS Sadara Petrochemical plant in Saudi Arabia
Exporter: Técnicas Reunidas
Participation in the construction of 3 petrochemical plants in JIC (Jubail Industrial City), the largest industrial center in Middle East
FIEM Credit: 300 million USD with Project Finance guarantee

15. 3.- PROJECTS CERCIKAYA IN TURKEY
Exporter: Acciona Windpower
Full supply of turbines for a wind farm of 57 MW in the region of Cercikaya in Turkey
FIEM credit: 19 million EUR

16. 3.-PROJECTS CONSTRUCTION AND EQUIPMENT OF THREE LABORATORIES QUALITY CONTROL OF FISHERY PRODUCTS IN KENYA
Engineering and building equipment and training of personnel involved in the production and handling of fish and laboratory
Contract between MAKIBER and Kenyan Ministry of Fisheries. Sovereign guarantee
Concessional financing: € 5.7 million

17. 3.-PROJECTS DRIVING SIMULATOR FOR DRIVING SCHOOLS IN BRAZIL
FIEM Credit of 32 M€. Bank financing of 14,4M€
Project Finance Guarantee and additional ones such as:
Corporate Guarantee from Everis Spain S.L.U.
Pledge on the income of Pro simulador
Driving simulators as guarantee to mitigate the risk of Exchange rate.
Key element of the Demand Analysis: the use of the driving simulators is compulsory according to Brasilian law

18. 3.-PROJECTS CONSTRUCTION AND OPERATION OF A GAS PIPELINE IN MEXICO
Debtor: Pipeline of Morelos (SPV composed by Elecnor, Elecnor México and Enagás)
FIEM Credit of 50 M de $
Contract awarded by International Tender
Contracts: Gas transport with the Federal Electricity Commission, Interconnection with PEMEX, Construction with Elecnor México, O&M with Elecnor y Enagás

19. 3.-Projects PLASTIC INJECTION FACTORY FOR PRODUCING HANGERS AND AUTOMOBILE COMPONENTS IN INDIA
Developer: Plásticos Erum, SME leader in the manufacture of hangers
Clients: INDITEX, H&M, El Corte Inglés, Decathlon, Carrefour, Hugo Boss etc.
Investment of €

20. Index
Contacts 4

21. More information in www.comercio.es/fiem
Contacts
Ministry of Economy, Industry and Competitiveness Paseo de la Castellana, , Madrid, España Mediterranean Countries, Africa and the Middle East. South America and North America countries. Europe and Asia Pacific. (European countries out of the EU) European countries in the EU Deputy Directorate for Financial Development for Internationalization.
More information in

22. THANKS FOR YOUR ATTENTION