Page 7 - OeEB-AnnualReport_2013

Basic HTML Version

OeEB Annual Report 2013
Management report
Advisory Programmes segment
Through technical assistance under OeEB’s Advisory
Programmes (AP), projects are prepared and improved
to enhance their development effectiveness. Examples
of measures that may be funded with AP monies are
studies, fees to hire specialists, project-related training
and upgrading of qualifications, as well as the
introduction of international standards.
In the 2013 financial year, the Federal Ministry
of Finance approved AP funds of approximately
EUR 1.9 million for 13 projects. Also, EUR 0.7 million
was provided from “fast-start” finance of the Federal
Ministry of the Environment for a climate protection
In 2013, OeEB concluded contracts for 18 AP projects
totalling EUR 11.15 million. These contracts also
include projects approved in the previous financial
years but signed in 2013.
Most projects in the year under review – OeEB’s sixth
year of operation – related directly to investment finan-
ce or equity investment. For example, projects focused
on introducing new financial products, improving
environmental and social standards, and stimulating
institutional development. The focus on energy was
further strengthened, such as by gaining approval for a
study analysing ways of financing energy efficiency
In 2013, OeEB disbursed EUR 3.85 million of AP funds
to project partners. The disbursements are tied to
progress in the respective projects and thus help ensu-
re the achievement of development objectives.
Foreign Trade Programme
With its expertise in development and foreign trade,
OeEB provides advice to the Federal Ministry of
Finance, especially regarding collaborations with
international financial institutions (IFIs).
The aim of the participation in IFI programmes is the
resulting transfer of know-how to Austrian businesses
and the greater support by IFIs to improve business
conditions for companies in selected countries. The
IFI programmes are as a rule selected by the Federal
Ministry of Finance. In 2013 three further projects
were identified: the “Sustainable Development of
Medium and Small Scale Farmers” programme, the
“Agribusiness Standards in ECA” programme and the
Central Asia Agrifinance Project.
OeEB receives a fee for administering the Advisory
Programmes and Foreign Trade Programme.
Equity Investments segment
Under the Equity Investments mechanism funded
by the Austrian federal government, OeEB acts as a
trustee for the Federal Ministry of Finance (the
trustor), entering into equity investments by acquiring
direct interests or by buying fund units.
In the 2013 financial year, two equity investment
projects totalling EUR 29.69 million were signed,
which had already been approved by the Federal
Ministry of Finance in 2012.
A further three investment projects presented to and
positively rated by the Business & Development
Committee in the first half of 2013 are awaiting final
approval by the Federal Ministry of Finance. Only then
can the contract negotiations with the transaction
partners begin. The projects submitted in 2013
address both the aims of Austria’s official development
assistance and the Millennium Goals. An achievement
in 2013 worth highlighting in this context is that a basis
was created for allowing one of the projects to use