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Programa

Medium and Long Term Instruments for Export Financing and investments

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CONCEPTOS
CLAVE
1
INTRODUCTION AND OBJECTIVES OF THE MODULE
2
LONG TERM FINANCING INSTRUMENTS
3
LONG TERM FINANCING INSTRUMENTS WITH OFFICIAL SUPPORT
4
FINANCING AN INVESTMENT PROJECT
5
MULTILATERAL FINANCING (BONUS CHAPTER)
Matrícula
Categoría:

Finanzas, Auditoría y Fiscalidad

Modalidad:Presencial
Edición:XXXIII
Inicio: 15/05/2020
Fin Preinscripción: 15/05/2020
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Description

The course focuses on the development of different financing systems for industrial and infrastructure projects, depending on whether they are structured through direct investments of the promoters or simply through purchase and sale contracts, either supply or turnkey. In the first case the establishment of a vehicle company is normally required and the financing is received by this entity, while in the second case the exporter's objective is to offer medium- and long-term financing to the buyer of its product or project, as a fundamental tool for signing the contract.

The different types of financial products available to Spanish exporters and promoters, of bilateral, multilateral and commercial origin, will be developed in detail.

Información

Goals

We can break down the objectives of the module as follows:

  • Identify the common elements in all medium and long term financing.
  • Understand well the different basic financing structures that apply when financing exports of capital goods and investments in industrial or infrastructure projects.
  • Differentiate the applicable financing structures according to whether the operation takes place in an emerging country or in a developed country.
  • Know how the terms and conditions of the commercial contract affect the financing of operations in the medium and long term.
  • Know how the exporter, contractor or investor must ensure that the financing is truly a resource and that it becomes an instrument that gives viability to a commercial operation.

 

To do this,

  • The most viable type of financing will be analysed and identified according to the characteristics of the operation: type of contract, buyer, seller, country, guarantees, etc.
  • Risk coverage will be studied in the different phases of the execution of a project or contract.
  • The different bilateral instruments to support Spanish exports and investments abroad will be analysed.
  • The products and instruments of the Multilateral and Development Banks from which Spanish companies can benefit will be developed.

SPECIFIED TIME PERIOD AND PLACE

Specified time period: This course has and extension of 20 contact ours at ENAE premises.

Timetable: This course is delivered on Friday from 16:30 h. to 21:30 h. and Saturday from 9:00 h. to 14:00 h.

Place and Address:
Edif. ENAE. Campus Universitario de Espinardo 30100 Espinardo Murcia- Spain


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ADMISSION PROCESS

This program is part of a Master that has limited availability. Taking this course will provide you great oportunities for expanding your professional networks. Final admission decision is reserved to ENAE Business School on the basis of prerequisites established for the course, room availability and specific group profile required.

METHODOLOGY

1. Theoretical presentations alternated with practical exposure so as to see their relationship with results in business. The interrelation between theory and practice is a methodology in which students must be involved. This methodological issue will be used for both business executives and professionals, and for recent graduates who want to join the same course.

2. Several case studies are sent from those that companies have been facing in real life for students, with the relevant knowledge acquired, to do the analysis between the different lines of action that may arise and choose the one considered more realistic and adjusted to the case. The student should become accustomed to making decisions and understand the implications of them.

3. Case studies and readings will be sent to participants through the virtual campus. At the same time chat forums or debate centres may be created on campus or virtual in which the views of the participants will be contrasted. . These tools will be used by the students to contrast their different points of view.

4. Virtual Campus is a tool that allows a much more fluid relationship between students and teachers at personal and on line level.

5. Teaching the course will take into account how the student intends to apply the knowledge acquired to the final project at the end of the Master.

MÓDULOS

INTRODUCTION AND OBJECTIVES OF THE MODULE
  • Introduction to long term finances, and objectives to be covered.

  • Economic and financial feasibility, previous to internationalization.

  • Classification of foreign trade operations attending to its financing.

LONG TERM FINANCING INSTRUMENTS
  • Factoring.

  • Forfaiting.

  • Suppliers credit.

  • Buyers credit.

  • Case study: Invoice Factoring Case Study – Business Consulting, Inc. Material and readings:

    • How forfaiting works.

    • Buyer’s credit note.

LONG TERM FINANCING INSTRUMENTS WITH OFFICIAL SUPPORT
  • The OECD Consensus or Arrangement.

  • The Fund for Internationalization – FIEM.

  • Compañía Española de Seguro de Crédito a la Exportación – CESCE.

  • Instituto de Crédito Oficial – ICO.

  • Compañía Española de Financiación del Desarrollo – COFIDES.

  • Case study: How to submit a proposal to COFIDES. Material and readings:

  • The OECD Consensus.
  • OECD Country risk classification.
  • OECD Multilateral and Regional Institutions Risk Classifications.
  • OECD Export Credits work.
  • The Arrangement on Export Credits.
  • OECD Export Credits Sector Understandings.
  • FIEM note.
  • FIEM presentation and success stories.
  • CESCE note.
  • ICO Institutional presentation.
  • ICO note.
  • COFIDES note.
  • COFIDES History.
  • COFIDES Success Stories.
FINANCING AN INVESTMENT PROJECT
  • Investment policy – CESCE.

  • Project finance.

  • Reading:

    • The case of Repsol YPF in Argentina.

    • Project finance note.

MULTILATERAL FINANCING (BONUS CHAPTER)
  • Introduction.

  • Multilateral organizations.

  • Projects of Multilateral Organizations for the Development.

  • The project cycle and how to identify it.

  • Phases of the project.

  • Contract procurement and public tenders.

  • How to prepare a proposal.

  • Case study: Multilateral project. Reading:

    • List of acronyms of Multilateral Organizations.

    • List of Multilateral Institutions.

PROG-FI-FINANC-EXPORT-XXXIII
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