Evaluatierapport (PDF, 6.47 MB) - Buitenlandse Zaken - Belgium

FINEXPO EVALUATION
financial entity (“the paying bank”), which is
responsible for fulfilling all requirements to ICO. The
“paying bank” can be chosen by the applicant for FAD
support, but should count with ICO’s approval.
Spain : CARI
Contrary to FAD, the credit entity financing the export operation
submits the application directly to ICO. So not the exporter
applies, but the financial institution. The application form will be
presented together with certain certificates to be issued by the
exporter as to foreign materials, local expenses, commercial
fees, any relationship with the buyer in the form of shares and
holdings and the new production of the goods exported. At the
same time (or at a later moment in time in the process) the
following documents are to be presented: the commercial
contract, the current CESCE offer, (or that of another firm of
underwriters should the credit need to be underwritten) and the
credit agreement executed by the financial entity and the
borrower.
CARI applications require the authorisation of the Directorate
General for Trade and Investment. If the operation complies
with general CARI standards, then it is considered to be
authorised generically and ICO will automatically issue an offer
of terms in the directorate's name.
Netherlands:
ORET
Netherlands:
ORIO
ICO makes an offer to the financial entity (“Letter of Intent”),
detailing the terms and conditions to be included in the credit
agreement (maximum amount, interest rate, repayment term).
Once the commercial contract is signed, the offer can be
formalised between ICO and the financial entity.
Up to 2002, proposals for support could be submitted to the
Ministry of Foreign Affairs, where a unit judged the requests on
the basis of legal, administrative and financial requirements. For
larger projects, the ministry contracted the services of
specialised consultants. After 2002, this function was outsourced
and any submission was pre-appraised on a ‘first in, first out’
principle. The appraisal implied compliance to administrative,
legal and financial conditions and a “quick scan” of the technical
and financial feasibility of the proposal. In exceptional cases
external consultants could be contracted for short periods to
carry out a short desk-study. Usually there were no “in situ”
visits anymore, but the support of the embassy could be
requested to make a site visit. Once the pre-appraisal resulted
positive, either the proposal was submitted to the ORET
committee for approval, or further study was required. Also the
legal documents (for example an official request from the
recipient government) and the assurance of a commercial for
the non-subsidised part could take considerable time. Final
approval only if all requirements were fulfilled.
Companies (and not only Dutch ones) submit proposals either
individually or as a consortium for infrastructure works in
developing countries. Contrary to ORET, where proposals were
dealt with on date of presentation, ORIO launches half annual
competitive “rounds”.
see
Final report – Appendix 8 – page 158