special report risk capit oper financ resourc european develop fund commiss repli submit pursuant articl ec treati introduct gener project programm financ lomé convent financ grant risk capit european develop fund edf loan european invest bank eib bank resourc jointli mean financ report deal risk capit resourc risk capit constitut special method financ exist lomé iii lomé iv convent allow reimburs financi assist favour condit prioriti sector african caribbean pacif acp state oversea countri territori oct beneficiari capac borrow financ resourc eib risk capit fund form part edf administ eib behalf commun accord bank statut financi regul relat edf amount earmark risk capit oper rco lomé iii lomé iv convent ecu million ecu million total amount decid net commit disburs acp state decemb tabl fund lomé iii lomé iv convent commit fund disburs loan recipi conduct audit carri audit court account recommend european parliament invit commiss eib court auditor make regular frequent spot audit action realis eib mandat court audit constitut examin aid oper manag eib mandat edf conduct basi tripartit agreement conclud eib commiss court auditor main relev observ relat earlier audit document manag risk capit fund eib commiss file insuffici insuffici eib act commerci bank develop bank commiss file appear incomplet fulli utilis extens document made bank servic commiss file system improv court audit audit supplementari inform request bank gener speak cooper bank good spot mission import inform provid late stage hamper effici conduct court audit inform result offici invit tender form procur tabl global inform receiv court examin rco project visit spot compris examin oper financi intermediari fi final beneficiari risk capit financ cf annex risk capit financi aid instrument type risk capit financ risk capit invest financ order assist implement directli product invest public privat contribut econom industri develop acp state cf articl lomé iv convent articl lomé iv convent risk capit provid form loan equiti particip categori loan global loan constitut special form condit loan compar credit line open financi institut institut situat acp state financi institut small local ventur capit compani member state commun subject bank approv lend fund final beneficiari sme form individu loan equiti particip loan particip right constitut special form risk capit financ introduc bank bring condit subordin loan line concept quasi capit loan remuner compris firstli fix interest compon variabl compon set percentag dividend paid case equiti particip risk capit fund acquir behalf commun temporari minor hold capit acp enterpris institut financ develop project promot financ invest acp state breakdown type risk capit financ annex ii intervent sector alloc fund main guidelin bank intervent area rco found articl lomé iv convent articl stipul bank financ instanc product project programm industri agro industri tourism mine energi transport telecommun link sector total amount ecu fund lomé iv ecu million lomé iii alloc develop acp state form guarante minimum amount nation indic programm nip lomé iv amount rco decid end stai ecu million minimum amount global guidelin risk capit financ individu project programm exist articl lomé iv convent articl lomé iii convent criteria consid decid method financ aid project programm level develop geograph situat econom financi circumst acp state natur project programm econom financi return social cultur impact case loan factor guarante servic main orient bank risk capit fund consid altern financ instrument resourc case financ resourc consid inappropri bank choos risk capit resourc financ basi creditworthi countri econom polit situat countri exist secur guarante relat financ structur project financ financi assist requir criteria defin lomé iv convent bank broad judgement financ project subject matter fact financ propos examin clear distinct evalu criteria mention justifi choic financ action wholli partial risk capit resourc explicit justif make decis financ risk capit transpar context court found number oper financ risk capit resourc debat risk element inher type oper present need fund modernis joint ventur fish fleet mozambiqu madagascar govern minor stake joint ventur oper profit gener hard currenc repay loan sourc financ found dominican republ proce global loan financi intermediari entireti lend establish sme proven success oper case loan final beneficiari eib global loan risk capit fund form global loan loan particip right caledonia sourc fund easili mobilis stricter criteria guidelin utilis risk capit fund develop order obtain addit develop purpos implement risk capit oper european invest bank tender procedur manag tender procedur lomé iii bank decid contract award competit procedur take account specif charact project type expenditur bank compli edf rule tender open firm main seat acp eu member state document made bank form procur tabl court establish conduct tender procedur complianc edf rule stipul suppli origin eu member acp state derog appli case suppli origin acp eu member state cahora bassa project work northern part financ edf resourc manag commiss southern part financ eib resourc edf risk capit fund transmiss line subject tender contract final award contractor reason commiss bank agre tender condit edf procur rule differ bank rule origin suppli south africa court welcom chang bank polici appli edf rule lomé iv loan condit undertak case occur undertak acp state beneficiari fulli met submit inform progress report project complet report audit financi statement fi report perform final beneficiari detail analys beneficiari econom financi perform receiv court mission bank confirm receiv systemat financi intermediari fi point financi contract eib fi clear respect articl allow interpret fi oblig case concern borrow acp state failur make final beneficiari foreign currenc ecu million exchang equival amount local currenc spite remind bank spot mission ecu million risk capit assign modernis fish fleet project successfulli implement concern protect fish resourc acp state data total allow catch submit borrow incomplet show ceil total allow catch set level mention financ propos project time total number fish licenc issu increas ecu million risk capit assign modernis fish boat equip treatment prawn govern madagascar continu issu fish licenc commit contrari remind bank observ reduct quantiti fish caught hour fish fish bank reaction situat inconsist number case remind borrow case bank accept situat interest rate interest margin case lend oper gener direct refer interest rate applic rco made articl lomé iv convent stipul case loan interest rate case lomé iii convent interest rate determin refer characterist project higher fund lent beneficiari financi institut acp state govern intermediari benefit instanc rate lower final beneficiari pai higher interest rate loan grant directli bank intermediari lend condit margin interest rate destin enabl intermediari cover administr cost exchang financi risk cost technic assist final recipi remain amount develop purpos level interest project examin loan made govern acp state interest rate gener set market rate loan lent sme financi institut interest rate set market level reason avoid distort competit mitig risk irregular occur select beneficiari risk corrupt make loan beneficiari support longer term final beneficiari advantag risk capit financ easier access medium long term financ loan bank resourc benefit edf interest subsidi paid lead situat net interest rate bank resourc loan paid final beneficiari lower risk capit loan invest hotel complex guinea interest rate charg eib resourc loan whilst risk capit loan financi intermediari develop polici point view bank polici set interest rate sme market level concession interest rate larger size enterpris privat public sector spirit lomé convent lead unbalanc situat alloc advantag risk capit financ beneficiari exampl illustr situat electr produc distribut compani dominican republ receiv loan lend agreement govern dominican republ exchang rate risk born beneficiari countri sme pai interest rate loan lent fi exchang rate risk born intermediari mozambiqu local subsidiari european enterpris activ fisheri borrow interest rate govern lend agreement exchang rate risk bear limit oper gener hard currenc newli establish sme paid interest rate vari lend agreement fi cover exchang rate inflat risk number loan contract conclud provis lomé iv convent total remuner eib interest remuner loan exce case loan particip right paragraph addit yield provid lomé convent remuner financi alloc global loan case court verifi rate appli fi complianc condit set loan contract conclud intermediari bank refer rate exist haiti definit rate appli fi made comparison refer rate imposs case illustr problem encount remuner dominican republ interest rate loan rate vari januari higher preferenti rate publish central bank applic octob rate constitut refer rate fi set interest rate loan bank rate fi line preferenti rate octob discrep investig bank case global loan fi madagascar financ contract stipul loan bear global effect interest rate includ cost commiss remuner reflect rate countri oper natur durat amount agre bank case appear establish rate set conform bank guidelin case bank ensur refer rate mention financ contract exist countri concern proper verif interest rate appli fi mechan cover exchang rate risk case lend initi loan currenc financ contract alloc exchang rate risk final beneficiari initi borrow lomé iii risk borrow pai back loan ecu european currenc case lend oper risk partial transfer beneficiari loan contract higher interest rate lomé iv convent articl provid chang stipul risk gener rule born commun case risk capit financ strengthen enterpris fund share commun parti involv case risk capit financ invest privat sector firm sme articl stipul averag foreign exchang rate risk share equal articl clarif appli calcul purpos made made result convent arrang made exchang rate risk case lend fund privat sector sme exchang rate risk problem constitut major element set level interest rate lend oper dealt wai bank reason evid court similar project provis share exchang rate risk beneficiari commun exist commun bear maximum exchang risk case financi contract loan beneficiari forese exchang rate risk born beneficiari contradict respect provis lomé iv convent mozambiqu madagascar caledonia fi constitut time court mission call exchang rate risk fund stipul financ contract addit financ contract stipul purpos balanc left exchang rate risk fund loan repaid interest margin administr cost develop purpos number case administr arrang determin portion margin includ yield particip administr cost develop purpos lack contrari provis lomé iv convent incomplet precis bank action ensur provis lomé iv convent margin respect net benefit intermediari concret develop purpos project financ risk capit scope invest form part rco adequ prepar implement monitor bank observ made relat long term viabil project alloc procedur disburs period rate case global loan delai implement factor relat long term viabil project case long term viabil project endang prepar implement invest sound formal bank commiss possibl interven invest realis find wai ensur effect monitor nation level project avoid problem cite ecu million risk capit assign ecu million invest plan restor product capac improv product reliabl industri instal alumina produc factori invest plant equip requir guarante viabil oper cancel put compani fund offset loss sharehold origin agre bear laid memorandum understand main sharehold ecu million risk capit assign ecu million project reduc ecu million project rehabilit power transmiss line link hydroelectr station mozambiqu electr net south africa rsa tariff rate suppli electr rsa negoti laid contract chang consider lower current rate full recoveri cost difficult top loss made ecu million risk capit assign construct facil ecu million process cashew nut project decid start oper campaign decid suspend promot due unclear riski situat cashew nut market project suffer unclear chang polici govern cashew nut sector ecu million risk capit assign financ agro industri project compris establish estat facil process rubber palm oil output famili industri plantat soguipah insuffici attent paid factor access market market product accept palm oil local tast sustain oper employ peopl work incom opportun local region uncertain accumul loss period amount share capit access market limit compani heavili depend grant loan financ madagascar dominican republ creation job sme visit court benefit edf risk capit fund sum ecu reach figur expect mention loan alloc report case compani major sharehold met commit invest newli establish sme appear neg impact commerci oper year alloc procedur respect global loan global loan lend sme set activ expans exist activ case examin greatest part financ global loan fi financ expans oper exist client receiv loan intermediari resourc detail loan alloc tabl caledonia global loan refinanc oper subject loan grant fi resourc oper previous financ sme treasuri addit term develop aid evid case disburs period disburs rate disburs period global loan set financ contract bank fi cover year period possibl extens decid bank detail disburs period tabl low disburs rate mozambiqu partial due exist competit loan restrict condit high inflat rate high lend interest rate madagascar gener econom situat devalu franc malgach constitut hindranc creation expans sme madagascar mozambiqu financi intermediari immedi make proce eib loan beneficiari case financi intermediari retain ecu eib fund alloc final beneficiari explan delai implement project action annual report financi year volum ii statement assur court mention exist rco disburs month court found number project implement sever delai varieti reason lead situat risk capit fund commit fund effect decemb financ contract conclud rehabilit crude oil pipelin provision disburs timet foresaw disburs ecu million period end year ecu million disburs annual report conduct oper decemb compil bank remark respect delai ecu million loan govern ethiopia region telecommun project disburs ecu million end year project estim apprais complet decemb disburs remaind loan block problem tender switch telephon line identifi bank solv dominican republ bank grant decemb ecu million condit loan govern studi design implement commerci commiss oper invest part wider project estim cost ecu million transmiss network capit citi south east part countri project expect commiss end start end commiss consult bank formul polici decommit sleep balanc rco manag global loan european commun financi intermediari ecfi global amount ecu million made ecfi form condit loan paragraph utilis rate ecu million facil low august half year financ contract sign nineteen month initi alloc period expir global loan amount alloc disburs twelv eu member state el irl made facil ecfi visit court reason low utilis rate time facil limit set amount individu alloc lack suitabl project disburs delai time consum set legal administr framework invest oper acknowledg import risk capit fund made wide level particip note effici transpar fund arrang questionn case invest ventur capit fund vcf appear level fund pass reach final beneficiari sme costli commiss fee time consum invest guinea conakri form financ risk capit intermediari combin direct financ bank resourc varieti condit role commiss mention paragraph bank administ risk capit fund resourc behalf commun undertak financi execut oper carri risk capit base articl ia commiss respons implement aid polici defin council guidelin develop financ cooper defin acp eec council minist pursuant articl convent purpos ensur coordin commiss bank ia mention exchang inform bank commiss paragraph fulfil role stipul articl primari import commiss follow critic apprais process carri eib oper examin audit court found written evid activ particip commiss file minut articl committe qualiti scope reaction bank propos central servic commiss exchang inform deleg depend initi respect commiss offic formul guidelin procedur follow main element consid give reaction propos bank make reaction transpar valuabl articl ia commiss draw period agreement bank list inform receiv order assess bank carri encourag close coordin commiss bank purpos assess number report envisag ia principl help report evalu project provid period commiss bank council relat develop object set report produc report execut oper financ fund resourc manag bank provid yearli report base commit fund financ decis econom data present apprais stage oper oper examin court bank made post evalu project financ risk capit resourc inform evalu provid commiss carri audit evalu mission activ relat risk capit oper base clear extent commiss fulfil oblig articl ia conclus manner risk capit oper prepar implement monitor bank give rise observ transpar effect oper improv import inform provid bank late stage hamper effici conduct court audit paragraph criteria guid alloc risk capit resourc gener bank free choos risk capit resourc make loan justif decis risk capit fund project emerg project apprais document paragraph type financ direct loan loan acp state global loan led unequ treatment final beneficiari benefit maximum interest rate mention lomé convent pai market rate determin factor effect exchang rate fluctuat plai import role set interest rate level effect justif higher interest rate calcul loan fulli repaid addit case loan particip right total remuner eib partli depend result beneficiari enterpris exce limit paragraph principl averag equal share foreign exchang rate risk introduc lomé iv convent limit invest privat sector sme clarifi formula bank order adher involv heavi administr arrang paragraph provis interest margin financi intermediari clear bank ensur financ contract stipul precis amount interest margin complianc provis lomé iv convent paragraph support privat sector global loan exist emerg sme benefit financ fi resourc paragraph number case effect rco develop purpos hamper fact disburs fund delai long term viabil oper financ threaten paragraph post evalu function need provid inform viabil oper benefit risk capit financ real contribut econom social develop acp state evalu system develop cooper bank commiss paragraph addit commiss plai activ role apprais stage evalu effect rco develop acp state guidelin develop set respons procedur servic concern paragraph preced recommend made context improv exist system manag rco altern system consid matter fact commiss role manag rco limit practic exchang inform bank involv commiss number task apprais account monitor evalu defin adher commiss court propos altern consider possibl entrust entir manag rco bank european develop fund context note repay risk capit fund receiv yield fund remain edf report adopt court auditor court meet octob court auditor bernhard friedmann presid gt tabl gt gt tabl gt gt tabl gt articl lomé iv convent oj report term acp state mean acp state oct refer legal framework risk capit oper relat lomé iv relev provis lomé iii framework mention compris deviat lomé iv articl intern agreement ia financ administr commun aid lomé iv convent oj articl ia includ amount decid initi commit annul resolut observ form part decis give discharg commiss manag sixth seventh edf financi year pe special report annual report year paragraph oj court recent publish special report observ risk capit oper manag eib budget resourc respect bilater financi technic cooper mediterranean countri oj dominican republ guinea haiti madagascar mauritania mozambiqu caledonia loan equiti characterist sourc eib repli gener questionnair court august pa acp jrl financ propos oper discuss committe mention articl ia lomé iv convent oj articl ia lomé iii convent oj paragraph special report special report respect bilater financi technic cooper mediterranean countri paragraph articl articl lomé iv convent annual report financi year volum ii statement assur paragraph oj articl lomé iv convent special report paragraph oj paragraph eib period progress report date articl ia articl ia articl ia paragraph special report paragraph special report annex gt tabl gt annex ii gt tabl gt commiss repli introduct conduct audit commiss undertaken major reorganis file document made bank commiss hold document major step risk capit oper present financ propos articl committe opinion financ decis financ execut payment reimburs file readili regularli utilis eib audit committe constantli endeavour provid court auditor assist provid supplementari inform request prepar logist visit help court select meaning sampl includ visit hold pre visit gener brief risk capit mandat project specif meet loan offic respons head divis project includ visit arrang eib staff familiar project accompani joint visit provid inform document answer post mission request event eib act accord tripartit agreement court request agreement renegoti eib provid court standard procur tabl request project offici call tender applic eib dispos court requir inform risk capit financi aid instrument intervent sector alloc fund intern agreement repres govern member state meet council financ manag commun aid articl committe set bank committe made repres govern member state repres commiss take part committe guarante transpar vi vi member state meet articl committe receiv propos financ lomé convent detail comment report background reason risk capit requir report provid succinct justif creditworthi countri justif obviou question utilis risk capit eib resourc rare rais issu discuss aspect point discuss meet satisfact particip awar fish project mozambiqu madagascar profit gener hard currenc posit featur fulli justifi oper make comment conclud project profit financ found sourc mozambiqu madagascar year ago todai difficult find sourc long term financ privat sector project account hazard uncertainti busi countri ii eib seek lomé mandat encourag privat sector investor invest manag profit ventur case project cite provid part financ project rememb financ risk capit design repaid import select project success statement suffici reflect function fulfil financi intermediari dominican republ caledonia financi intermediari fi introduc develop bank habit sme client offer invest financ prevail prime market rate network qualifi field servic employe altern sourc financ sme monei dealer offer short term loan weekli monthli significantli higher interest rate implement risk capit oper european invest bank tender procedur recent eib appli normal procur procedur bid open eu acp supplier project financ risk capit resourc project financ bank resourc interest achiev econom advantag bid project cahora bassa project mozambiqu polici consult commiss eib appli restrict procur procedur edf risk capit financ loan condit undertak true acp govern borrow compli oblig suppli inform bank good time eib monitor situat chase borrow continu success note fish licenc quota notori difficult area countri world includ eu public administr capac weak case mozambiqu madagascar difficulti occur close monitor eib interest rate interest margin case lend oper level interest rate eib deliber develop polici contraven spirit convent set interest rate appli project financ eib hand respect condit lomé convent subsidis rate hand account ensur end borrow notabl privat sector pai rate akin market rate determin give rise anomali normal loan strong borrow strong guarantor lower interest rate secur loan resourc loan lower interest rate riskier loan made risk capit ii loan local acp currenc carri significantli higher nomin interest rate loan ecu underli rate expect price inflat regard hotel complex guinea point comparison interest cost resourc loan risk capit oper nuanc resourc loan borrow incur addit cost provis guarante accept bank risk capit oper advantag final beneficiari intend resid interest rate financi condit attach quasi equiti natur oper lomé iv convent cap interest payabl risk capit loan annum place limit remuner profit share frequent profit share compon ad fix interest compon financ oper prohibit lomé convent remuner financi alloc global loan financ contract standardis surpris mention made refer rate case refer rate eib check rate quarterli half yearli report produc central bank event central bank publish rate time lag modifi standard term financ contract mechan cover exchang rate risk lomé iii borrow pai back loan ecu equival european currenc exchang risk base sole ecu ecu european currenc risk share kei word sentenc articl lomé convent averag risk capit project alloc forex risk final beneficiari case perfectli consist articl convent illog exoner promot forex risk entir sale proce denomin forex case examin type risk expos provid mitig measur risk articl forex risk share equal averag eib aim achiev board matter fact small busi financ scheme global loan risk capit lend sme borrow denomin local currenc typic sme sell local market export market interest margin administr cost develop purpos select fi dfc develop financ corpor eib pai care attent sound financi situat develop role support countri economi regard dfc profit make institut strong development impact relat small enterpris criteria accord articl lomé iv convent financi protocol project financ risk capit factor relat long term viabil project true eib commiss longer interven directli vi vi beneficiari invest made maintain indirect supervis polit dialogu local author imposs imagin risk capit oper danger number case spite guarante provid long term viabil jeopardis measur origin firm question fortun risk cite report exampl realiti put signific perspect alloc procedur respect global loan context global financ plan rate financ implement fulli guarante case beneficiari firm resourc financi intermediari fi addit temporari loan act bridg fact eib intervent consist refinanc contribut supplementari contribut replac fi disburs period disburs rate global loan mozambiqu made alongsid loan world bank ida resourc french develop aid programm loan facil success part reason slow utilis fund insuffici level margin fi alloc disburs period loan facil split total margin central bank fi renegoti result margin allow fi increas initi level eib world bank credit facil alik delai implement project action financ contract project sign decemb disburs start continu project financ eib world bank credit ida resourc coordin institut close notabl monitor project number tough condit prior disburs fulfil zambia includ sector reform issu explain disburs start period year problem resolv remaind loan disburs main reason delai previou govern lack resolv carri vital sector reform ratif electr law import condit disburs eib financ contract law stall congress year due polit bicker ahead presidenti elect tug war vest interest privat power investor versu import stand gener equip govern press ahead sector reform disburs loan place quarter commiss eib stock dormant commit take account inform exchang analys situat eib ask commiss decommit unus fund manag global loan european commun financi intermediari ecfi point note modif made follow ecfi ii facil approv april comparison interest cost resourc loan risk capit oper nuanc resourc loan borrow incur addit cost provis guarante accept bank risk capit oper advantag final beneficiari intend resid interest rate quasi equiti natur oper sharehold advanc role commiss commiss servic eib work close time program commun aid start convent sign nation indic programm eib annex thereto close contact inform maintain eib staff commiss deleg acp life convent articl stipul role commiss oper financ resourc fund manag bank year commiss receiv bank report financi execut coordin bank coordin meet place level basi draft propos prepar bank commiss consult geograph desk deleg concern present observ comment suggest object bank council receiv articl report serv meet oblig provid inform mention court rule report eib evalu unit themat sector basi unit work programm cover eib oper take account preponder bank activ insid union present plan studi involv edf risk capit conclus commiss eib note satisfact court observ regard manner risk capit oper prepar implement monitor bank commiss role worth stress articl lomé iv financi protocol articl intern agreement state risk capit manag eib eib act behalf commun commiss articl confirm articl financi regul seventh edf commiss call assum respons reliabl edf account respons confin case oper financ eib manag check amount enter account match inform suppli eib regard issu evalu risk capit oper commiss carri review effect risk capit oper develop acp state make concret propos post lomé convent final commiss feel member state serv transpar repres sit alongsid commiss articl committe