REbuilding Ukraine Agency – a Year in the Life!

Ability to see around the corners is not always a good thing. Although it gets one to places early, armed with advanced information and knowledge, it is a lonely place, as others at the time do not wish to hear, or process this information.

Today, it seems like everyone is talking about Rebuilding Ukraine, various government agencies, non-profits and private sector folks. The war still rages on, yet the “Prepare now for Rebuilding” theme is everywhere. Webinars, trade shows, talking heads, academic papers are written, new agencies and rebuilding initiatives are being established. Today’s message from the pundits is “let’s prepare, let’s start now, as it takes a long time to develop projects; it is complicated, and it is important”. For all of us at the Rebuilding Ukraine Agency, these constant posts, seminars and activities almost always put a smile on our faces, as March 24th marks a full year since the Rebuilding Ukraine Agency was officially founded with the sole mission of providing international solutions to help Ukraine recover and rebuild itself from the damages of the horrific russian aggression. A year ago, almost nobody was talking about Rebuilding Ukraine, yet a small, private sector, member-owned, international organization was created specifically to help address strategic needs of a war-ravaged country, both during and post conflict. It was created then, because all of us who founded the Agency knew that it takes a very long time, it is complicated and in order to succeed the right people would need to be selected and would have to do tremendous work. The organization, which itself has had to go from nascency to adulthood, while developing effective solutions among the chaos, political discord, bureaucracy and ongoing war, all while dealing with missile attacks on peaceful cities and Ukraine’s rapidly deteriorating economic conditions.

If one were to make a military analogy about the evolution of the Agency over the first 12 months of existence, it went from a shotgun to a high-powered sniper rifle. Its initial member and prospective member roster consisted of a buckshot of small and mid -sized firms interested in knowing more about the subject of rebuilding and charged with emotion of the early war days, when Ukraine was on CNN 24/7. Membership in 2022 was free, emotional response overwhelming and people (most of whom have never been to or worked in Ukraine) wanted to belong to the cause. As the year went on, and time came to start paying membership dues, the Agency’s membership roster shrank by about 30 percent and became laser focused. Effective management and governance were established, several projects in the areas of construction materials production, real estate and medical rehabilitation with combined value of over $100 million went into active development. Another $120+million in project financing and political risk insurance proposals are currently out for review and acceptance by the prospective investors. Active work is taking place in assisting our members to develop effective demining and unexploded ordnance removal operations for agricultural and urban environments, infrastructure and residential construction projects, new municipal heating solutions, effective PTSD rehabilitation centers and construction industry training programs. The membership bulked up, as large international companies started to join the Agency with more candidates emerging every week.

The Agency has created several strategic relationships, among which, the most notable were cooperation with the Rebuilding Ukraine Association (501C3 non-profit on industry education initiatives, signed MOUs with the Confederation of Ukrainian Builders and with the Mayors’ Club. The Agency provided humanitarian assistance to a birthing hospital in Nizhin (although much more needs to be done there and our efforts fell short of targets). We conducted free financing master classes to over 20 Ukrainian municipalities and announced another series of training sessions to help them improve their economic development activities and increase their attractiveness to international investors. Earlier this month, the Agency announced that its Board Member Dr. Anzola, who is renowned for training multiple Export Credit Agencies (ECAs) around the world, will offer a pro bono training course to Ukraine’s official Export Credit Agency. One of our members – a director of a large, global architectural firm has with the Agency’s support, led her firm to set up a pro bono effort to help modernize the city of Irpin in accordance with the latest energy efficiency and smart city standards. The Agency’s participation at the REbuild Ukraine event in Warsaw in February was a smashing success. The Warsaw event provided updated clarity of the current situation and allowed the Agency to plot new directions towards expansion of its membership roster, economic development assistance for Ukrainian cities and municipalities and development of new funding sources. Our community following the Agency on social media organically grew to over 1,500 followers.

I sincerely want to thank everyone who over the last year has contributed to the Agency’s success and development. Special thanks go to all the Board Members, our Corporate Officers, supporting professionals and Advisors. Thanks to the representatives of the US and Ukrainian Governments, as well as IFIs for all your help and support. Special thanks to our friends at the US-Ukraine Business Council and to all of you who followed our progress, read our materials and offered to help Ukraine in this difficult time. Thank You!

So where do we go from here? To find out you will need to read our upcoming posts and continue to follow us, as we remain steadfast in our commitment to help Ukraine Win this war and Rebuild! Slava Ukraini!

REbuild Ukraine – Warsaw. Days One and Two – a smashing success!!!

February 15th and 16th were quite simply two of the busiest and most productive days when it came to tackling the subject of Rebuilding Ukraine. It was the first time since the start of the horrific invasion, that businesses and governments of over twenty countries came together and met with representatives of the Ukrainian Government, as well as the leaders of hundreds of Ukrainian cities and municipalities to explore ways to in which Ukraine’s economic growth can be jump-started, its infrastructure restored, and the country’s population can rehabilitate itself from the effects of this devastating war.

The Rebuild Ukraine Warsaw turned out to be a smashing success. Bravo to the organizers and bravo to the attendees for being patient braving the long lines to get in, for attending the various Forum panels and being engaged for hours, for walking miles of isles of the convention center and patiently waiting to speak with various exhibiting companies, whose representative were busy practically from the opening moment of Day One, through the closing moments of Day Two.

The Rebuilding Ukraine Agency’s 400 square meter exhibit booth was one of the busiest spots of the entire event. Over 500 attendees from over 15 countries stopped by and engaged with our Agency’s twenty-five members, who were present at the event. Government representatives and Economic Development organizations from the US, Ukraine, Poland, Denmark, Germany, Lithuania, Latvia and Czech Republic stopped by and discussed ways to cooperate with our Agency.

My colleagues and I participated in a Forum panel and conducted a Master Class on economic rejuvenation of Ukrainian cities and municipalities, including those, which are still occupied, or are located near the enemy’s border. An agreement has been reached to continue the dialog between the Agency and various municipalities to help them lay the groundwork for becoming moattractive for foreign investment and financing.

A multiparty, three-country Memorandum was signed at the Rebuilding Ukraine Agency’s to support the education initiative spearheaded by our sister Rebuilding Ukraine Association (a 501c3 non-profit).

Together with the Mayors’ Club our Agency co-hosted an invitation only reception and dinner at the famous Ukrainian-Polish restaurant. The food, drinks and a piano performance by a fourteen-year-old protégé were absolutely delightful.

At the conclusion of the two-day event marathon, the exhausted participants have begun making plans for attending the next REbuild Ukraine event in November of 2023. The following pictures will provide, but a small sample of the activity, the spirit and the emotion of this fantastic event. Our sincere thanks to everyone who participated, who attended and who made this event possible. Warsaw, until we meet again. Thank you Poland and Slava Ukraini!!

REbuild Ukraine – Warsaw diary. Day t-1

Only one day to go till the start of the BIG event. Excitement is in the in Warsaw, the hotel lobby is buzzing with the pre-Forum activities. Groups of business folks are everywhere. For our team this is the day to set up the stand, finish gathering up all the arriving team members and hold a few key pre-Forum meetings.

The team from the ECC Corp, – the Agency’s largest member – set the tone for the day and rolled out their wares to be taken to the exposition center.

They were joined by the Agency’s own Sergei Glazunov, our steadfast CEO, Frencisco Anzola, our Board Member and Controller/ our own resident computer wiz, Kseniya Belinska, the Agency’s amazing super-mom VP, without whom our participation in this event would be impossible. Yours truly, along with the Agency’s member Edward Vays of the Berehove Springs project were the remaining members of the set-up group. In addition to the promotional and information materials, Mr. Vays brought with him the world-famous Ukrainian flag, which was displayed by him and his US friends during the USA-Iran football game at the FIFA World Cup in Quatar. The photographs of this group holding the flag made front pages of global newspapers

The entire exhibit hall was bustling and with exhibitors from various countries and Ukrainian cities working hard to complete the set-up, in time for Wednesday’s opening. Thanks to the well-timed help from the organizers of the event, our team made all the last-minute adjustments and completed the set up in a couple of hours. We even managed to get a special table for the ECC’s espresso machine, which will allow all the visitors to the Rebuilding Ukraine Agency’s stand to take the load off and enjoy a freshly brewed cup of coffee, as they move through the vast hall.

When we got back to the hotel, we greeted the remainder of our arriving delegates from Depsol and MI Group. The rest of the day was spent in meetings (Francisco and Sergei’s faces reflect the focus and the intensity) and preparations for Wednesday’s and Thursday packed schedules. Stay tuned for tomorrow’s update on the launch of this marquee event.

REbuild Ukraine – Warsaw diary. Day t-2.

First from our group to arrive to Warsaw for the big event was Thomas Lang, head of the Rebuilding Ukraine Association (the 501c3 non-profit spearheading the REUNITE education initiative to help train Ukrainian construction industry professionals and seeking to sign a multiparty memorandum at the event) He is also working to assist a Ukrainian project sponsor on developing a construction block production facility in Ukraine.

The incomparable Thomas Lang

After Thomas, our own Edward Vays made his way to Warsaw. Edward is the Principal Owner and Developer of a unique Berehove Springs Thermal Rehabilitation Project. Due to its unique location and access to healing mineral water, which comes from1.3 km deep well drilled by Edward’s company, the Berehove Springs project aims to become the leading PTSD veteran and family rehabilitation center in Ukraine. Soon after his arrival, Edward found himself engaged into intense discussions with the Rebuilding Ukraine Agency’s Board Member Aleksandr Stefansky, who arrived in the afternoon loaded with a 70lb bag of Agency’s presentation materials.

Aleksandr Stefansky, Rebuilding Ukraine Agency Board Member
and Construction Committee Co-Head

Edward Vays, Principal Owner, Berehove Springs Thermal Rehabilitation Center and Wellness Community project

Others, including yours truly, continued to arrive and their stories and the story of the Rebuild Ukraine event will unfold over the next few days. Symbolically, Warsaw met the visitors with grey and dingy weather, which reflected the somber mood over the current situation in Ukraine. Yet, after walking around in the Old Town, one could see splashes of color and lights, which to me symbolized the hope and the bright future events like Rebuild Ukraine will bring after the war to this long-suffering country.

On a housekeeping note. All my photographs from the Rebuild Ukraine event will be put into a separate album, the link to which will be available in the last post covering this trip.

Regards from Warsaw, A. Gordin

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REbuild Ukraine – Warsaw Diary. DAY t-3

It is Sunday February 12th. I awoke to the news of more russian missiles falling on Kharkiv and on other Ukrainian cities, more news on the devastating earthquake in Turkey, US shooting down a third! flying object in a week, as the country prepares for today’s Superbowl. Yet amidst the ongoing wars, diplomatic conflicts and natural disasters, an important event will be taking place this coming week in Warsaw, Poland. It will be focused on the bright future of beautiful, resilient, war-torn Ukraine. Over the next week, I will attempt to document this event from the insider’s perspective. I will try to post daily, but given the schedule ahead, it may not be feasible. So please bear with me over the few days and I hope you find these diaries interesting and helpful.

As I write this, thousands of men and women from over twenty countries have begun to make their way to Warsaw for the Rebuild Ukraine Forum and Conference. This event is laser-focused solely on construction segments and will cover significant topics such as demining and handling of unexploded ordnance during the rebuilding, infrastructure restoration, construction material recycling, increasing Ukraine’s capacity to produce and supply vital construction materials such as insulation, plate glass, precast concrete, as well as developing real-estate projects, which will address Ukraine’s new realities such as shifting demographics and the need to restore and rehabilitate post-war the physical and mental health of the nation. The event will also be focused on how to finance, insure and develop projects, which will help Ukraine rebuild.

Unlike other political, macroeconomic, and academic events dedicated to the subject of the Rebuilding Ukraine, the Warsaw conference and exhibit is driven by the private business – the infantry of the recovery process. This is very important, as these folks vote with their own dollar, euro zloty or hryvna and are the first to go in and engage. What is even more important, is the fact that this event will facilitate a direct dialogue between the Ukrainian Government, multiple Ukrainian regions and municipalities and is expected to act as a starting point for several viable investment, construction and recovery projects.

After four months of preparation for the event, our own Rebuilding Ukraine Agency will be well-represented. Our delegation of 25 men and women will consist of the several Agency’s Board Members, the Agency’s CEO, Vice President and representatives of several Agency-member companies who will be showcasing their projects and capabilities. Although our Rebuilding Ukraine Agency is US-based and will be unofficially representing the United States at the event (other countries are having government-sponsored pavilions), the Agency is international in nature, and our Warsaw delegation will have members from six countries at the exhibit pavilion. Even though the event has not yet started, our Group’s meeting calendars are already well-booked, with meetings starting two days before the actual February 15th and 16th conference dates. Our Agency has been one of the co-organizers of the Rebirth of Nation panel and I will be speaking there on the financing and insurance opportunities available to foreign and local investors. Our Agency team is putting final touches on a Master Class for Ukrainian municipalities on how to develop and package projects for investment and financing by the international community.

So today, t-3 days until the official events kickoff, is the travel day for most of us. Overnight flights on LOT and Delta from the US, car and train rides from Ukraine, Italy, Germany and Croatia. Presentations and marketing materials are being delivered from Kyiv, where they were printed, despite drone attacks and power outages. As the self-appointed photographer for the Agency i will be chronicling the conference and activities taking place at our Agency’s pavilion. My luggage contains over 25 pounds of photographic equipment, including multiple lenses. Given the gravity of the events taking place in Ukraine, as this conference will be taking place, I am thinking of shooting the entire reportage in black and white. Have not yet made up my mind on this though.

Special thanks to everyone who has been involved in the preparation for this significant event. Our wonderful video and presentation designers, along with our terrific CEO and VP, members who supported the exposition, exhibit organizers and Board members who volunteered their time to make sure that the Agency is well-prepared not only for this event, but to help Ukraine, as it gets ready to REbuild itself after this devastating war. Stay tuned for additional coverage of the Warsaw conference in the upcoming issues.

By. Alexander Gordin, Chairman of the Board, Rebuilding Ukraine Agency

Happy Holidays and Best Wishes for the New Year!

Broad Street Capital Group selects Lipman Law to provide due diligence support and General Counsel services.

(December 2, 2019, New York City, NY) In an effort to streamline its legal operations and to manage international due diligence and compliance processes for the $1.2 billion of financing transactions in its pipeline, Broad Street Capital Group announced today that it has retained Alex Lipman of Lipman law PLLC, to provide general counsel services. Alex Lipman has also joined Broad Street as an Advisory Board Member.

Most recently a partner at a major international law firm, Mr. Lipman has almost 30 years of experience both in private practice and government with focus on SEC enforcement matters, anti-corruption investigations, securities litigation, other regulatory and government matters, as well as corporate governance.

Alex’s government experience includes serving as a Special Assistant United States Attorney on the Securities and Commodities Fraud Task Force at the U.S. Attorney’s Office for the Southern District of New York. In that position he prosecuted and tried cases involving accounting fraud, mail and wire fraud, and insider trading. Alex also served as a Branch Chief in the SEC’s Enforcement Division, where he conducted numerous high-profile investigations into securities law violations, including cases stemming from the collapse of Enron.

In private practice,  Alex has successfully represented numerous individuals and entities in high-profile white collar securities cases, including cross-border investigations and international prosecutions.

Mr. Lipman also has been a key driving force in developing a proprietary Grey2White® Due Diligence Program designed to identify and solve complex legacy due diligence issues, as well as to optimize multiparty compliance inquiries, which arise during international financing transactions.

“We are very excited to have Mr. Lipman and his Firm advise our team. As the Broad Street Capital Group is poised to enter its next phase of growth, having a seasoned, internationally renowned legal expert in our corner, will help the firm’s clients not only to successfully navigate through complexities of international financing and M&A transactions, but will also allow them to unlock the value of their companies by putting in place best practices in the areas of financial reporting, anti corruption and corporate governance.” said Alexander Gordin, Managing Director of the Broad Street Capital Group.

“I look forward to working with Mr. Gordin and the Broad Street team on ways to improve and streamline the way due diligence and compliance are managed during international financing and merger transactions involving companies in emerging markets. Rather than engaging in a reactive, expensive and cumbersome process, the Grey2White® program aims to provide deeper due diligence investigations than conventional KYC screenings in advance of potential transaction. This would provide greater transparency from the start, reduce costs and benefit all parties involved in the transaction.” said Alex Lipman

About the Broad Street Capital Group.

Based in the heart of New York City’s Financial District, Broad Street Capital Group (www.broadstreetcap.com) is an international private merchant bank, which since 1988 has served several foreign governments, multiple state-owned companies, as well as SMEs in emerging markets. Through its member companies, the Group focuses on developing project financing in the $100 million to $1 billion range, providing political risk mitigation, export management services and cross-border market development advisory. The Firm has done business in over 35 countries, spanning the emerging markets landscape from Bangladesh to Ukraine.

Currently, the Firm maintains presences in eight countries and works closely with all trade and development agencies of the U.S. Government, as well as with Credit Agencies of several European and North American countries. Since its inception, Broad Street Capital Group has been involved in multiple high-profile cross-border transactions in agriculture IT/telecom, aerospace, healthcare, oil and gas,energy generation, food security, nuclear safety, hospitality and franchising sectors. The firm’s current advisory and financing portfolio is expected to exceed $1.25 billion by January 1st, 2020.

 

Driving through the rain towards brighter economic future of Ukraine

About a month ago, during a Washington round-table on Ukraine hosted by the US-Ukraine Business Council (USUBC), someone asked me what do my colleagues and I expect from the new President of Ukraine and his administration? My answer, which was picked up by the Voice  of America and other publications, was essentially – I have no idea. But since we have been and continue to be bullish on the Ukraine for almost twenty five years, our strategy is to move forward despite the political climates, as we always hope for sunny investment weather, but carry a sturdy umbrella in case it starts to rain. 

Well, it is raining now.  Raining hard and much sooner than expected.

The events of this passed week have created a vicious firestorm with  “Ukraine” being mentioned practically non-stop.  In this post I will not address the politics of the situation, as this has been done by practically every major media outlet in the world ad nauseam. My focus will be on business opportunities and financing tools available to those wishing to invest into the Ukrainian economy, as despite this week’s “torrential downpour” nothing has fundamentally changed to make Ukraine a less attractive place to invest.

First, some basic assumptions under which we have been operating in Ukraine for almost quarter of the century:

• Massive institutionalized corruption exists in Ukraine and it will probably take two-three generations for it to be rooted out;
• Ukraine is a very risky place to do business;
• Many people who accumulated capital in the ’90’s played by the “fast and loose rules” and cut multiple corners;
• As business in the country evolves, most astute business people understand that by playing by the transparent and well-defined rules set out by the western markets they can unlock the value of their holdings, obtain access to low-cost financing and protect their assets for the generational asset transfer;
• Ukraine has fantastic potential for economic growth in multiple sectors;
• Terrific opportunities exist for US, Canadian and European companies to supply goods and services to Ukraine and to bring world-class Ukrainian goods into the Western markets;
• Ukraine has a superb pool of smart and educated labor force;
• Country is of a strategic geopolitical importance and will always be a subject of political pressure and outside influence;

Given the above, it is important to take a long view and not be terribly concerned with current politics, because by definition Presidents, Ministers, Ambassadors and Senators change every few years. Once such long-term philosophy is accepted, then it is necessary to construct one’s proverbial umbrella. Namely, risk mitigation, corruption resistant mechanisms must be incorporated into one’s approach to doing business in the country.  What this means in practice is the following:

• Targeting for investment and financing primarily those sectors where corruption is either low or  non-existent. From our standpoint exports of Ukrainian natural foodstuffs, renewable energy, electro-transport production, IT, nuclear waste containment are some of those.
• Utilizing US Government financing tools, such as those offered by OPIC and US-EXIM  Having these tools part of a business transaction not only provides low-cost, long-term financing, which improves economics of practically any project, but having government-backed financing in a deal, also improves quality of due diligence and acts as fantastic corruption deterrent and protection for investors.
• Obtaining political risk, trade credit, or breach of contract insurance for every significant deal or trade transaction. US  Government and certain well-rated global  insurance companies offer protection to investors from such perils as expropriation, creeping expropriation, currency  inconvertibility, non-payment for goods supplied, or services rendered and for breach of contract.  Such insurance is not terribly expensive, but  de rigueur for anyone looking to invest into the Ukraine, or into any  foreign market, for that matter.
• Creation of a so-called Grey2White® program to allow investment where original capital, or business formation had murky roots, but can be fully re-mediated with application of strict compliance procedures, financial restructuring and accounting oversight.
• Finally, despite of the current rainy weather, we are moving hard to add one more extremely effective tool, which has been missing in Ukraine’s economic development. Creating a safe umbrella for individual American-Ukrainian, Canadian-Ukrainian and members of Ukrainian diasporas in other countries to invest into the future of Ukraine.

What this means is a focused investment platform listed on a stock exchange and subject to a recognized US, or Canadian authority such as Securities Exchange Commission (USA), or Canadian Securities Administration (CSA). Such platform would will further be secured by protection of the political risk insurance and will, for the first time since Ukraine’s independence, allow individual investors with as little as $500! to invest,  to participate in Ukraine’s economic development, while having the umbrella of protection of the western laws, rules and regulations.  We call this platform “Develop UA”™ and expect to formally roll it out to the world in the middle of October, 2019 regardless of whether it is raining, or sunshine in Kyiv and Washington, DC.

relevant links

http://www.usubc.org/site/recent-news/doing-business-in-ukraine-now–usubc-roundtable-in-washington

https://ukrainian.voanews.com/a/amerykanksy-biznes-ukrayina/5051657.html

 

Getting Ukraine to become Fluent in EXIM.

How can US Exporters increase their exports to Ukraine and what do the latest developments mean for US EXIM programs there?

  Since the original Fluent In EXIM post was published on February 11th, several important events took place, which potentially may have an effect on how exports to Ukraine are financed by the Export Import Bank of the United States (US EXIM).

• New President of Ukraine was inaugurated a few days ago, potentially putting the country on a different political course.
• New, closer, date has been set for the elections of People’s Deputies into Ukrainian Rada
• US Congress confirmed three new Board members thus opening the  way for US EXIM to finance  projects over $10 million with a duration of financing  longer than seven years

Although not on the same level of importance as the above events, in March, in partnership with the US Ukraine Business Council (USUBC), our Firm held a financing workshop in Washington DC to help participants learn about available government financing programs, with the US EXIM  representative and its authorized broker prominently prominently featured on the agenda.  We have also received numerous EXIM financing inquiries from Ukraine, particularly in the areas of agriculture, renewable energy, transportation and healthcare. A second workshop for USUBC members and invited guests will take  place in Lviv later this month.

In this post, we will examine what, if any, effect these changes shall have on the US EXIM’s programs currently in place for that country. We will  also look at the ways Ukrainian importers and US exporters can best take advantage of these programs.

Currently, US EXIM is only open in Ukraine for short (financing of trade up to one year) and medium-term (financing of $10 million per project up  to seven years)  programs. Thus reopening the US EXIM for the long-term programs will not have any effect on Ukrainian export transactions.

Election of  the new President and upcoming Rada elections also are  not expected to  affect the US EXIM programs for the foreseeable future.

Yet despite the absence of the long-term programs, US EXIM bank remains an effective tool for US exporters wishing to export goods and services to Ukraine. Under its short-term program, the Bank will insure against buyer non-payment and political risks up to 95 percent of the foreign receivables’ invoice value, thus allowing exporters to safely extend open account terms to foreign buyers (both private and  government) for periods up to one year, with 90-day, 120-day terms being most prevalent.  This is done by putting in place either a Single Buyer, or Multi-Buyer credit insurance by the exporter and then qualifying and insuring individual importers under these policies. Depending on the policy limits sought, EXIM employs different underwriting standards and requires increasingly deeper credit checks and financial documentation.

Most qualified US exports, other than sales to of alcohol, tobacco and adult content, as well as sales to foreign military, may be insured; even equipment and services related to nuclear industry.  In Ukraine, larger private transactions will require a repayment guarantee from one  of the  five or so top banks and on the government side a sovereign guarantee is needed. Since it is almost impossible to obtain a UA government’s guarantee for smaller transaction amounts, the US exporters should focus selling their wares to the private sector.   The credit insurance may be obtained either from the Bank directly, or at no additional cost, through a cadre of US EXIM approved insurance brokers whose list is found on the exim.gov site.

Under its medium term programs, US EXIM can cover up to 85 percent of qualified US exports, including eligible freight and duty costs. As mentioned above, financing limit is $10 million per distinct transaction, and repayment terms of up to seven years apply.  For projects, which require local construction or installation (ex solar farms, grain silos), up to 30 percent of the financed amount maybe used to cover local costs performed by Ukrainian companies.

Depending on the project, repayment of the financing may be structured as interest only for up to two  years, with the balance of principal and interest paid out evenly over the remainder of the loan term.  Services such as engineering, architecture, design, legal and financial, all may be financed under this program.

Although US EXIM can lend funds directly at what is commonly known as a CIRR  rate, more often it  issues a its AAA rated guarantee and the exporters then approach an approved bank to secure financing rates, which are  usually more advantageous, as they are based on LIBOR and can either be variable, or fixed depending on the borrower’s preference.  Underwriting requirements of bank guarantee  for the private transactions, or sovereign guarantee for government purchases also apply. Many borrowers choose to finance the remaining 15% percent through those same  local banks  thus effectively securing 100% financing for their projects.

Since the process of securing financing and insurance coverage  through any government agency, or an international financial institution is quite complex, we always recommend  that clients engage a qualified and experienced financial adviser and a very competent law firm with extensive experience working with the US EXIM Bank.

To get more information on the upcoming Fluent In EXIM workshop in Ukraine, please  contact MorganWilliams at mwilliams@usubc.org

 

 

 

 

 

 

 

 

 

World Affairs Councils of America Welcomes Broad Street Capital Group as National Affiliate Member and Sponsor

Washington, DC, May 14, 2019 — The World Affairs Councils of America (WACA) is pleased to announce that Broad Street Capital Group (www.broadstreetcap.com) has joined WACA as a National Affiliate Member, sponsor of the WACA National Conference, and member of its prestigious 1918 Society.

Broad Street’s expertise in advising on foreign direct investment (FDI) strategies in emerging and frontier market countries and WACA’s ability to convene foreign government leaders and influential audiences through its extensive network of more than 90 World Affairs Councils across the United States will provide a powerful platform for U.S. companies targeting investment opportunities and seeking policy and regulatory knowledge in these markets.

Broad Street will tap the WACA platform to conduct a national tour to educate potential U.S. investors on available U.S. Government financing options, as well as political and trade risk mitigation tools. WACA will assist Broad Street in organizing bilateral trade missions and curated foreign policy tours to highlight economic advantages of the target markets and to facilitate trade and investment opportunities.

“It is an honor and a privilege to become WACA’s newest National Member,” said Alexander Gordin, co-founder and Managing Director of the Broad Street Capital Group.  “My colleagues and I look forward to helping this prestigious 100-year old national organization to grow into the next century of its existence.  Foreign direct investment is an essential  part of sound foreign policy for any nation and having such an esteemed partnership with the WACA network’s convening power on this issue, would definitely bring significant measurable results.”

“WACA is delighted to collaborate with Broad Street and we look forward to inviting leading investors and representatives of foreign investment agencies as guests of the Broad Street Capital Group at WACA’s 2019 National Conference in Washington, DC,” said Bill Clifford, President and CEO of the World Affairs Councils of America.

Scheduled for November 6-8 at the Mayflower Hotel in DC, the WACA Conference will feature more than 50 leaders and policy experts on the theme: “The 8 Forces Reshaping the Global Economy.”

About the Broad Street Capital Group

Based in the heart of New York City’s Financial District, Broad Street Capital Group (www.broadstreetcapital.com) is an international private merchant bank, which since 1988 has served several foreign governments, multiple state-owned companies, as well as SMEs in emerging markets. Through its member companies, the Group focuses on developing project financing in the $100 million to $1 billion range, providing political risk mitigation, export management services and cross-border market development advisory. The Firm maintains a permanent presence in London, Budapest, Kyiv, Tashkent, and  Astana, .  Since its founding, Broad Street Capital Group has done business in over 35 countries, spanning the emerging markets landscape from Bangladesh to Ukraine.

The Firm works closely with all trade and development agencies of the U.S. Government and Export Credit Agencies of several European and North American countries. Since its inception, Broad Street Capital Group has been involved in multiple high-profile cross-border transactions in IT/telecom, aerospace, health care, energy generation, food security, nuclear safety, hospitality and franchising sectors. The firm’s current advisory and export management portfolio exceeds $900 million.

About the World Affairs Councils of America

The World Affairs Councils of America (www.worldaffairscouncils.org) is an independent, nonpartisan organization dedicated to engaging the public and leading global voices to better understand the world, America’s international role, and the policy choices that impact our daily lives and our future. WACA carries out its mission by:

• Supporting more than 90 World Affairs Councils across the United States and promoting programs and educational initiatives for diverse local audiences – from classrooms to C-suites, from town-hall style community forums to conferences in the nation’s capital.
• Developing Councils’ convening power nationwide by providing face-to-face connections and dialogue with global leaders, business executives, policy and trade experts, ​social innovators, and distinguished opinion makers.
• Partnering with organizations that seek to reach out to “grassroots” and “grasstops” citizens, disseminate research, mutually expand networks and transform how people, enterprises, and governments think about the world.
• Challenging the next generation to develop leadership skills and global acumen so that our communities can better compete, collaborate, and make informed decisions.