Financing in the Western Balkans & Southeast Europe Overcoming obstacles to deliver projects in emerging markets 24-25 October 2012 Dubrovnik Palace Hotel Join leading stakeholders in a dynamic networking and learning environment about the future of Transport Infrastructure in the Western Balkans and SEE. Conference As Europe reels from financial crisis, the Western Balkans and Southeast Europe are an increasingly attractive destination for international investment. Fundamentally, there is a need for substantial infrastructure development in this region, including roads, airports, seaports and rail. Despite the opportunities, there are a number of serious obstacles impeding project development, including complex legal frameworks, lack of transparency and fair competition, misconceptions over the value and use of Public Private Partnerships (PPP), inconsistent and unfair risk sharing obligations, lack of political will and many others. Associate Sponsors Our 2012 event will address these obstacles and risks, providing a platform for industry leaders and local stakeholders to debate and overcome them. Speakers and participants will include National and Local government, international infrastructure funds and financiers, leading construction firms and concessionaires, regional advisors and legal firms. Event Partners English-Serbo-Croat/ Serbo-Croat-English Simultaneous Translation Available
peakers Chairing board Tony Smith, Partner, Curtis Mallet-Prevost Colt & Mosle Branko Bajatović, Director, Avistum Darryl Murphy, Head of EMEA - Global Infrastructure, KPMG; IPFA Board Director Government and public sector speakers Elena Kuzmanovka, The State Secretary, Ministry of Transport and Communications, Republic of Macedonia Andrija Lompar, Transport Minister, Ministry of Transport and Maritime Affairs of Montenegro Zdenko Antesic, Deputy Minister, Ministry of Maritime Affairs, Transport and Infrastructure, Croatia Ernest Noka, Deputy Minister, Ministry of Public Works and Transport, Albania Damir Juričić, Director, Croatian Agency for Public Private Partnerships Fëllënza Limani, Legal Advisor, Central PPP Department, Ministry of Economy and Finance, Republic of Kosovo Ana Šimecki, Transport Planning Manager, Southeast Europe Transport Observatory (SEETO) Feature speakers and expert panellists Elitza Iordanova, Head of PPP and Infrastructure - Brussels Project Finance Hub, BNP Paribas Werner Weihs-Raabl, Head of Group Infrastructure Finance, Erste Group Bank AG Pavlo Grabovets, Investment Officer and Transport Sector Leader for the Balkans and SEE, IFC Pavle Kavran, Founding Partner, Citadel Finance Advisors Mihajlo Misic, CEO, Koridori Srbije (10) Dimitrios Gatsonis, CEO, Aegean Motorway S.A. Andrea Gebbeken, CEO, Tirana International Airport SHPK John Nicholson, Partner, Financial Advisory Services, Deloitte Central Europe Lucia Manzi, Associate, Steer Davies Gleave Ivana Duarte, Principal Banker - Transport Team, EBRD Andy Carty, Special Advisor - EPEC, EIB Robert Bain, Managing Director, RBconsult Limited (ex-standard & Poor s) Michael Dedieu, Managing Director, Marguerite Adviser S.A. Thomas Frankl, Managing Partner, Airport Development Partners S.A. Manuel Cary, Partner, TIIC - Investment Company Richard Dyton, Partner, Simmons & Simmons LLP Tony Stratfold, Senior Advisor, Intertoll Europe Photo: Balkan Energy Finance Forum - BEFF 2012 (19-20 June, Belgrade)
AgendaDay 1 08:30 Registration and coffee 09:00 Chairman s welcoming address 09:10 Ministerial address Ms Elena Kuzmanovka, The State Secretary, Ministry of Transport and Communications, Republic of Macedonia Andrija Lompar, Transport Minister, Minstry of Transport and Maritime Affairs of Montenegro Zdenko Antesic, Deputy Minister, Ministry of Maritime Affairs, Transport and Infrastructure, Croatia Ernest Noka, Deputy Minister, Ministry of Public Works and Transport, Albania 09:30 Feature address: How to deliver projects in Southeast Europe Pavlo Grabovets, IFC Legal and regulatory framework 09:50 Session determining which legislation is in place in each country and what needs to be done, including a discussion of EU Directives. - Comparison of EU, Non-EU and Accession country s legal frameworks - Setting up the right legal, policy and institutional framework for PPPs - Analysis of national concession laws and the convergence to EU standards - How does the public sector develop and implement new law? Understanding strategic policy decisions in SEE The European Context: How does Croatia and the Western Balkans compare within the EU and how can it ensure it is ready to take the opportunities arising? - The European PPP Market and the role PPPs will take in the emerging European Priorities - How EU Funds will be used for PPPs. The role EPEC will take via the Western Balkans Investment Framework Andy Carty, EIB Presentation: The new PPP Act in Croatia Damir Juričić, Croatian Agency for Public Private Partnership Presentation provided by leading regional law firm Panel discussion with leading law firms and active public and private stakeholders Pavlo Grabovets, IFC Andy Carty, EIB Damir Juričić, Croatian Agency for Public Private Partnership 10:50 Networking coffee break Opportunities to enhance the projects pipeline and accelerate the deal flow 11:30 Leading regional and industry experts will highlight common and rare obstacles, and provide a detailed analysis of how to overcome them. Including political, financial, contractual, technical, economic and cultural. - Are there political constraints that would make it difficult to use certain partnership structures? - Understanding the strengths and weaknesses of the PPP - How important is due diligence and risk assessment? - The importance of building relationships between public and private partner Presentation: Delivering in emerging markets - overcoming the obstacles Darryl Murphy, Head of EMEA - Global Infrastructure, KPMG; IPFA Board Director Panel discussion: How can obstacles be identified and overcome? Moderator: Darryl Murphy, KPMG and IPFA Tony Stratfold, Intertoll Europe Richard Dyton, Simmons & Simmons LLP Manuel Cary, TIIC - Investment Company Pavle Kavran, Citadel Finance Advisors 12:50 Networking lunch break Success stories and neglected nightmares 13:50 This session will provide a platform for those successful and failed projects from the region, providing a detailed analysis of why or why not a project has been developed and lessons learnt for the future. International overview: Lessons from PPP Roads Robert Bain, RBconsult Limited (ex-standard & Poor s) Impact of the financial crisis on projects Dimitrios Gatsonis, Aegean Motorway S.A. Turkey s experience Case study presentation: Tirana Airport Andrea Gebbeken, Tirana International Airport Case study presentation: Koridor 10 srbija Mihajlo Misic, Koridori Srbije d.o.o. Panel Discussion: Are lessons being learnt? Moderator: Branko Bajatović, Avistum 15:10 Chairman s closing remarks 15:30 Networking cocktail reception
AgendaDay 2 08:30 Registration and coffee 09:00 Chairman s welcoming address Risk allocation 09:10 Private partners are more than willing to provide high-quality service levels, but they expect to be paid for doing so. The public sector cannot expect to get a Ferrari for the price of a Beetle. This session investigates which risks are shared in successful projects in the UK, France, Germany, Austria, Spain, and why such risk sharing agreements are diificult to reach in the Western Balkans and Southeast Europe. - PPPs are a multi-player game. Appropriate public vs. private sector risk allocation - Demand risks, socio-economic risks: public acceptance and the value for money debate, Willingness-to-pay and ability-to-pa PPP demand risk: How to manage expectations? - How has the perception of demand risk evolved in past years? - Assessing demand risk in developing/emerging economies - Read between the lines of a traffic study: from the perspective of the sponsor and lender Lucia Manzi, Steer Davies Gleave Risk Allocation: the new financing reality? (Republic of Srpska PPP case study) - Who wants traffic risk? - Payment mechanisms - Government guarantee what s it really worth John Nicholson, Deloitte Central Europe Panel discussion: Is risk allocation the key stumbling block for PPP? Moderator: Branko Bajatović, Avistum Lucia Manzi, Steer Davies Gleave John Nicholson, Deloitte Central Europe Manuel Cary, TIIC - Investment Company Thomas Frankl, Airport Development Partners S.A. Elitza Iordanova, BNP Paribas 10:30 Networking coffee break Financing transport infrastructure projects 11:10 What needs to be done to attract private funding to the region? Is it possible in the current economic climate? Session will highlight the requirements of financiers and investors as well as the financing options and structures. - Key features required for successful project financing - Why banks invest case studies on major projects from across Europe - How do you choose the right financing mechanism? (Understanding its not one-size-fits-all) - How can projects be made more attractive? - How to identify PPP Infrastructure projects from traditional procurement or other. What role can PPPs play in this region? - How should PPP financing be structured (equity-debt share)? - Hybrid PPPs, how do they work? The lender s perspective on PPPs blended with EU finance Presentation: Overview of SEE infrastructure project investments Ana Šimecki, SEETO Presentation: Financing transport infrastructure in Southeast Europe and the role of PPPs Ivana Duarte, EBRD Presentation: The role of the banking sector in financing infrastructure - requirements and structures Werner Weihs-Raabl, Erste Group Bank AG Panel discussion: Financing transport infrastructure - what are the challenges and opportunities? Michael Dedieu, Marguerite Adviser S.A. Gulrez Hoda, IFC Ivana Duarte, EBRD Werner Weihs-Raabl, Erste Group Bank AG Ana Šimecki, SEETO 13:00 Networking lunch break PPPs - Lessons learnt and future opportunities 14:00 This session will offer a platform for national and local government offices to showcase opportunities in their respective regions and discuss their experiences, as well as providing the chance for questions from the audience. Presentation: Sindh PPPs - an experience from developing economy Presentation: Project pipeline in Kosovo Fëllënza Limani, Legal Advisor, Central PPP Department, Ministry of Finance and Economy, Republic of Kosovo Presentation: PPP lessons learnt and overcoming challenges in Greece Q&A session with feature speakers 15:30 Chairman s closing remarks 15:50 Networking session on the sun terrace
pportunities Speaking, sponsoring and exhibiting Financing 2012 will provide the most up to date developments and challenges in this increasingly important sector, enabling you to learn about key issues affecting the development of your business, and providing you with a platform to meet and influence key stakeholders. Our events enable you to: Promote your expertise Have focused discussions with industry leaders Generate lasting business relationships Develop long term partnerships Manager Networking break host Feature Presentation Cocktail reception host Exhibition/Promotional Area and more... contact for a full range of business development opportunities intelligent investment in emerging markets oin us in... Dubrovnik Hotel Dubrovnik Palace Masarykov put 20, 20000 Dubrovnik Tel: +385 20 430 000 : +385 20 430 100 www.alh.hr/en/hotel-dubrovnik-palace