Improved Urban and Local Government Finance
In addition to the CAF PRAMEG (see PPR) and CELI projects (see PPR), SEGURA’s IRF project (see PPR) in the Balkans also included an important initiative in “Pool Financing” for municipal services in six countries, emulating the US model of the state revolving funds and produced a report evaluating the issues to be addressed should Kazakhstan choose to create a revolving fund or bond bank for financing municipal and other public infrastructure.
SEGURA managed the design and start-up of the Balkans Infrastructure Development Facility (see PPR) (as a subcontractor to Booz Allen) to improve access to finance and promote Public Private Partnerships (PPPs) in urban public services in the region.
Balkans Infrastructure Development Facility (BIDFacility)
SEGURA Consulting led the creation of the Balkans Infrastructure Development Facility, as part of the USAID Regional Infrastructure Program for Southeast Europe
Infrastructure Reform and Finance (IRF)
From 2004 to 2008, the IRF project provided support to the Europe & Eurasia Bureau and USAID Missions in the technical areas of infrastructure reform and finance
Colombia - Consolidation and Enhanced Livelihood Initiative (CELI)
CELI is helping to strengthen the Colombian government presence in the Central Region through increased access to justice, and improved delivery of basic infrastructure and services
Institutional Strengthening and Local Economic Development (CAF)
SEGURA is assisting the Development Bank of Latin America (CAF) in the implementation of institutional strengthening training programs and technical assistance initiatives for municipalities
SEGURA Consortium partners have also successful programs in Urban and Local Government Finance:
IBTCI - Financial Restructuring Technical Assistance and Training (USAID): IBTCI provided long-term technical support and training to the National Bank of the Republic of Kazakhstan (NBRK) and Kazakh commercial banks with the goal of moving from a compliance-based supervisory system to one that focuses on the financial strength, safety, and soundness of the institutions, thereby institutionalizing transparent financial management processes. IBTCI improved the financial system management capabilities of the NBRK and promoted new accounting and operations practices within the commercial banking sector. IBTCI designed and issued a new chart of accounts, a bridging (mapping) table from the old system to the new one, a subsidiary ledger, and developed an automated interface between the subsidiary and general ledger. The IBTCI team developed BankExec98, a software program on accounting and auditing principles, licensed to USAID/IBTCI. Four presentations were delivered to 174 participants from the NBRK and commercial banks on various technical topics which helped these institutions put in place accounting systems and practices to enable the production of accurate, meaningful, and transparent financial statements in compliance with International Accounting Standards (IAS).
Crimson Capital - Rural Finance Initiative (RFI) in Colombia: Funded by the US Agency for International Development (USAID), the Rural Finance Initiative (RFI) project in Colombia is designed to promote inclusive financial intermediation in selected conflictive areas, supporting the provision of market-based rural financial services for micro, small and medium size producers and businesses (MSMEs). Through RFI, Crimson worked with nine partners financial institutions (PFIs) to build capacity and understanding of Value Chain Finance, with a focus on improving PFI credit risk strategies for MSMEs and farmers; cash-flow based lending techniques; and introducing asset-based financial products. This technical assistance included hands-on support in structuring VCF transactions. Crimson also conducted a VCF training-of-trainers program for RFI staff. Crimson support to RFI is provided under a subcontract to Chemonics International.
Crimson Capital - Albania Crimson Finance Fund AADF, NORFUND, City of Tirana (www.cffa.al): The Crimson Finance Fund Albania (CFF Albania) is a non-bank financial institution that is established in partnership with the Norwegian Investment Fund for Developing Countries (NORFUND), the Albanian American Development Foundation, and the City of Tirana. It is designed to improve access to finance for underserved Small and Medium Enterprises (SMEs), entrepreneurs, innovators, women-owned businesses and farmers in Albania in order to catalyze business growth and job creation. CFF Albania provides factoring and leasing of productive equipment to Albanian businesses in all productive sectors. CFF Albania opened its doors for business in March 2016.
Crimson Capital - Kosovo Crimson Finance Fund - USAID, NORFUND (http://cffkosovo.com/): The Crimson Finance Fund (CFF) is a non-bank financial institution that is uniquely positioned in the marketplace. Drawing on its $5.4 million lending pool, CFF provides innovative, short-term working capital finance products to small and medium sized enterprises (SMEs) in Kosovo. CFF directly targets the problem of the “missing middle,” in which the vast majority of companies in developing countries cannot obtain short-term working capital financing needed to grow, employ more people, increase exports and become competitive and viable for the long-term. CFF utilizes products such as purchase order finance and pre-export financing to address the lending needs of the SME sector in Kosovo. The Crimson Finance Fund provides financing to all sectors of the economy and operates in all regions of Kosovo, but gives special attention to businesses that are not being adequately served by existing financial institutions, including rural businesses and enterprises owned by women and minorities. CFF began lending in the fourth quarter of 2008. To date, CFF has made loans totaling more than $30.3 million to SMEs, supporting over $147 million in new, incremental sales and more than 3,960 new, permanent jobs, including over 934 jobs for women and minorities. Through its lending, CFF has also indirectly supported more than 3,400 local farmers and over 4,700 SME suppliers.
Crimson Capital - Macedonia SME Commercial Finance Fund - USAID, NORFUND: Crimson Capital designed and manages this $4 million fund that provides innovative, short-term working capital finance products to small and medium sized enterprises (SMEs) in Macedonia. The Fund directly targets the problem of the “missing middle” in which vast majority of companies in developing countries cannot obtain short-term working capital financing needed to grow, employ more people, increase exports, and become competitive and viable for the long-term. The Fund utilizes products such as Purchase Order Finance and pre-export financing to address the lending needs of the SME sector. In 2012, the Fund received an additional $300,000 from USAID Macedonia to establish an Innovation Financing Vehicle (IFV) designed to support business innovation and start-ups. To date, the Fund has made loans totaling more than $37.9 million to Macedonian SMEs, supporting over $311.53 million in new exports and more than 6,823 new, permanent jobs, including over 3,620 jobs for women and nearly 400 for minorities. Through its lending, the Fund has also indirectly supported more than 40,013 local farmers, 1,110 agro-collection points, more than 9,253 domestic buyers, and over 15,400 suppliers. The Fund extends loans to all regions of Macedonia, and targets all major sectors of the economy, including light manufacturing, trade, textiles, ICT, retail, agriculture, food processing and construction, but particularly targets SMEs under that are not being adequately served by existing financial institutions, including rural businesses, entrepreneurs and enterprises owned by women and minorities. The Fund is a principal provider of short-term trade finance for SMEs in Macedonia and plays a key role in the expansion and growth of SME activities in Macedonia.
Crimson Capital - Financial Access for Investing in the Development of Afghanistan (FAIDA): The purpose of the Financial Access for Investing in the Development of Afghanistan (FAIDA) project was to build a sustainable, diverse and inclusive financial sector that meets the needs of micro, small and medium sized enterprises (MSMEs) and supports MSMEs in creating new jobs. Joining the Chemonics International consortium in August 2011, Crimson supported FAIDA by building the capacity of FAIDA’s financial institution partners in the development of innovative loan products; by improving access to finance for business growth; and by working to build a robust insurance sector.