BOOST: (From left) Carol Davies, Maria Kempster, Carol Welsh, Elizabeth Hancock, Kam Kundi and Dean Marjoram, of the LLSC Coventry and Warwickshire
co-financing team, celebrating securing pounds 13.2 million of additional funding
WASHINGTON: World Bank Group President Jim Yong Kim and Asian Infrastructure Investment Bank President Jin Liqun today signed the first
co-financing framework agreement between the two institutions.
The main stumbling blocks were: extending the EGF to crisis situations and the
co-financing rate, which some of these countries consider too high.
"With a 5%
co-financing, these states will absorb more money and it will suddenly turn out that they have out-performed the top performers.
By exempting states from the obligation of
co-financing during these two years, the Commission hopes to accelerate investments during the financial crisis period and avoid projects being postponed.
Global Banking News-4 May 2009-ADB, China Eximbank sign
co-financing agreement(C)2009 ENPublishing - http://www.enpublishing.co.uk
The compromise provides for Community
co-financing rates of between 10% and 50% of total project costs, according to the type of project.
In fact, there's surprisingly little evidence that
co-financing movies, either by sharing the cost (and rights) with other studios or by enlisting outside capital, is a particularly effective risk-management tool.
They signed a framework
co-financing agreement, setting forth the main areas and mechanisms of cooperation in the EDB and ADB member states.
The European Commission is proposing increasing the rate of
co-financing of the Cohesion Policy in the countries most affected by the crisis.
EurActiv reminds that the European Commission proposed last summer to increase the EU
co-financing in cohesion, fisheries and rural development policies for countries that have received financial assistance under the balance of payments support mechanism - Romania, Latvia and Hungary- or under the European Financial Stability Facility - Greece, Ireland and Portugal.