ISMEA – SGFA Rural Credit Guarantee Funds

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Presentation transcript:

ISMEA – SGFA Rural Credit Guarantee Funds January 12th 2006 - Budapest

Rural Credit Guarantee Fund (FIG) The Past Ministry of Economy Supervision Rural Credit Guarantee Fund (FIG) Subsidiary guarantee

The Change – First Step Public rural credit guarantee funds reorganization: 2004 December – the Fund merged by incorporation into ISMEA ISMEA – Rural Market Services Government Agency Supervised by Ministry of Agriculture

The Change – Second Step ISMEA added new guarantee products to the subsidiary guarantee December 2005 – ISMEA’s guarantee activities pass to SGFA (company 100% owned by ISMEA)

Ministry of Agriculture Current Situation Ministry of Agriculture Supervision ISMEA 100% Subsidiary guarantee SGFA Direct guarantee

The Subsidiary Guarantee Fund The fund was established in 1961 in order to help farmers to access long-term agricultural loans to start up new business In the seventies the Fund was allowed to issue guarantees for agricultural medium and short-terms loans too

The Subsidiary Guarantee Automatically issued by the Fund Paid by the Fund when the banks incur a loss after the primary guarantees collection

Additional guarantees The Fund’s Activity From To Bank Loan Borrower Borrower Primary guarantee Bank After the primary guarantees compulsory collection Fund Subsidiary guarantee Bank After the payment Borrower Additional guarantees Fund

Cover Percentage

The Direct Guarantee Fund Still in progress A State counter guarantee is provided for SGFA guarantee engagements Three products First Call Guarantee Co-Guarantee Counter Guarantee

Thank you Giorgio Venceslai venceslai@sgfa.it SGFA Via In Lucina, n.17 00186 – Rome – Italy Tel. +390668406430

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