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Erschienen in:

2018 | OriginalPaper | Buchkapitel

6. Clients’ Perspective

verfasst von : Ihsan Ugur Delikanli, Todor Dimitrov, Roena Agolli

Erschienen in: Multilateral Development Banks

Verlag: Springer International Publishing

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Abstract

This chapter provides a comprehensive review of the eligibility and application credit process, as well as the main lending and other products, from the perspective of potential borrowers. The presentation is a response to surveys conducted by the authors that reveal issues of frustration and opacity stemming from the insufficient understanding of Multilateral Development Banks’ (MDBs) complexity and technical jargon. Ultimately, the chapter aims at helping potential and actual clients, with a focus on private sector borrowers, to navigate the unchartered waters of MDB application and project cycles.

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Vorheriges Kapitel Principles of Sound Governance

Nächstes Kapitel The Future

Variable rate includes a contractual Lending Margin + Maturity Premium + Actual Funding Margin (MDB’s average borrowing margin relative to LIBOR for a preceding period). Fixed rate includes Contractual Lending Margin + Maturity Premium + Market Risk Premium + Projected MDB Funding Cost + Basis Swap Adjustment if any.

MDBs usually exit their equity investments within four to eight years, depending on the nature and scope of the project. Exit strategies typically involve selling the MDB participation to the project sponsors or via a public offer.

For example, some MDBs, such as EBRD, typically finance about 35% of the project costs. This implies that the sponsors should find own funds or other lenders for the remaining 65%.

The Climate Investment Funds, funded by the IBRD, African Development Bank, Asian Development Bank , European Investment Bank, and Inter-American Development Bank operates with USD 8.3 billion. It includes the CTF (5.8 billion, see http://www-cif.climateinvestmentfunds.org/fund/clean-technology-fund).

CTF project preparation grants are available for financing project feasibility studies and associated analysis, as well as investment plans and CTF co-financed projects.

There are two CTF loan programs, based on an analysis of the financial internal rate of return of each project without CTF co-financing: (1) harder concessional loans for projects with rates of return near or above normal market threshold, but below risk premium for project type, technology, country, or acceleration in deploying low carbon technology; (2) softer concessional loans for projects with negative rates of return or below normal market threshold.

Titel: Clients’ Perspective
verfasst von: Ihsan Ugur Delikanli
Todor Dimitrov
Roena Agolli
Verlag: Springer International Publishing
Buch: Multilateral Development Banks
Print ISBN: 978-3-319-91523-4

Electronic ISBN: 978-3-319-91524-1

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-91524-1_6