Innovation Centre Kosovo
|
| Norwegian Ministry of Foreign Affairs |
2011
- 2014
|
|
In partnership with Athene Prosjektledelse AS, Crimson is supporting the establishment and development of the Innovation Centre in Kosovo. The purpose of the Centre is both to assist entrepreneurs in developing innovative and successful companies that create future-oriented jobs and to attract and support foreign investor partners. The Centre will also provide training and professional development services and will support research and development activities in the field of innovation.
|
| TOP
|
Kosovo Crimson Finance Fund
|
| USAID, NORFUND, Crimson Capital |
2008
- Ongoing
|
|
http://cffkosovo.com/
|
The Crimson Finance Fund (CFF) is a non-bank financial institution that is uniquely positioned in the marketplace. 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 $8.75 million to SMEs, supporting over $77.5 million in new, incremental sales and more than 535 new, permanent jobs, including 139 jobs for women and minorities. Through its lending, CFF has also indirectly supported more than 1,596 local farmers, 79 agro-collection centers, and 1,912 SME suppliers.
|
| TOP
|
Macedonia SME Commercial Finance Fund
|
| USAID, NORFUND, Crimson Capital |
2003
- Ongoing
|
|
Crimson Capital designed and manages this $3.7 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.
To date, the Fund has made loans totaling more than $22.84 million to Macedonian SMEs, supporting over $99.98 million in new exports more than 3,226 new, permanent jobs, including over 1,624 jobs for women and 330 for minorities. Through its lending, the Fund has also indirectly supported more than 11,150 local farmers, almost 271 agro-collection points, more than 7,726 domestic buyers, over 3,996 domestic suppliers, and nearly 1,316 foreign 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.
|
| TOP
|
Albanian Information Technology Association (AITA)
|
| Norwegian Ministry of Foreign Affairs |
2011
- 2013
|
|
With funding from the Norwegian Ministry of Foreign Affairs and in partnership with ICT Norway, Crimson is supporting the development of the Albanian Information Technology Association (AITA). The goal of the project is to develop AITA’s organizational and technical capacity, enabling it to become a leading force in innovation, technology and competitiveness in the ICT sector and across Albania’s entire economy.
Through the project, Crimson is providing technical assistance and project management support to AITA in developing its organizational structure, including support in reviewing and developing bylaws; hiring staff and establishing its office and operating procedures; and developing revenue generating activities that will allow AITA to become self-sustainable.
|
| TOP
|
Investment Climate Improvement (ICI) Project in West Bank and Gaza
|
|
|
The goal of the Investment Climate Improvement (ICI) Project is to assist the Palestinian Authority (PA) to adopt and implement the laws, regulations, policies and procedures required to improve the business climate and promote domestic and foreign investment, bring the trade regime into compliance with the requirements for full membership in the World Trade Organization (WTO) and improve revenue yield from domestic taxes in order to move toward a more sustainable fiscal position. Crimson supports the efforts of the ICI project under a subcontract to Chemoincs International, by providing expertise in fiscal policy reform and business enabling environment.
|
| TOP
|
Kosovo Democratic Effective Municipalities Initiative (DEMI)
|
|
|
Crimson Capital is part of an Urban Institute-led consortium recently awarded the Democratic Effective Municipalities Initiative (DEMI) in Kosovo. The goal of the DEMI project is to strengthen municipal governance in Kosovo, focusing particularly on building the capacity of municipal administrations and assemblies; increasing citizens’ role in municipal government; improving municipal service delivery; and promoting local economic development.
Crimson supports the efforts of the DEMI project by providing expertise to facilitate local economic growth and improve municipal service delivery. The DEMI Deputy Chief of Party is a Crimson expert, based at project office headquarters in Pristina, Kosovo.
|
| TOP
|
Kosovo Business Enabling Environment Program
|
|
|
Crimson Capital is part of a Chemonics-led consortium recently awarded the Business Enabling Environment Program (BEEP) in Kosovo. The goal of the BEEP project is to support the development of a business-friendly environment in Kosovo, focusing particularly on better implementation of commercial law; more transparent public tenders; improved access to information about borrowers’ credit history; and reduced barriers to trade.
Crimson supports the efforts of the BEEP project by providing expertise to further the development of the Credit Information Bureau and credit registry system in Kosovo and to support the development of a business friendly-environment overall. The long-term BEEP Credit Advisor is a Crimson expert, based at project office headquarters in Pristina, Kosovo.
|
| TOP
|
Competiveness and Trade Expansion (COMPETE) Project in Kenya
|
|
|
Crimson Capital is part of the Chemonics-led consortium awarded the Competiveness and Trade Expansion (COMPETE) project. COMPETE is issued under the GBTI II IQC.
The goal of the COMPETE project is to enhance economic growth and food security in East and Central Africa (ECA) by stimulating increased trade and competitiveness. This will be achieved through increased integration and reduced barriers to regional and international trade; increased competiveness and trade in select regional value chains; increased trade between the US and ECA; and increased capacity of ECA countries to engage in multi-lateral trade negotiations.
Crimson supports the efforts of the COMPETE project by providing expertise to promote policies and regulations that enable private sector investment and trade and by building local capital market capacity to finance infrastructure projects and trade.
|
| TOP
|
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 is 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 is supporting FAIDA by building the capacity of FAIDA’s financial institution partners in the development of innovative loan products and by improving their credit risk analysis skills.
|
| TOP
|
Southern Africa Financial Sector Program
|
|
|
The Southern Africa Financial Sector Program (FSP) promotes access to financial services for small and medium enterprises (SMEs) by working with financial institutions and regulatory agencies to improve and expand financial products available to SMEs and to reduce transaction costs and risks associatied with lending to SMEs. FSP will also work improve business services avilable to SMEs and to improve the legal/regulatory environment.
Crimson Capital (under a subcontract to Chemonics) is working to expand access to financial services and to lower financing cost for SMEs. The team will also work to reform the legal and regulatory framework affecting the financial sector and business environment and to improve the commercial viability of SMEs in South Africa, thereby expanding disadvantaged entrepreneur’s access to a range of high quality and affordable financial services.
|
| TOP
|
ICT Association of Kosovo
|
| Norwegian Ministry of Foreign Affairs |
2008
- 2012
|
|
With funding from the Norwegian Ministry of Foreign Affairs, Crimson Capital is
supporting the establishment of the Kosovoa Society for Information Technology and
Communications (STIKK). STIKK was established as a trade association in November 2008
and works to develop the thriving ICT sector of the Kosovo economy.
STIKK currently represents more than 55 Kosovo ICT companies and is managed by its Board of Directors and executive management. With support from Crimson, STIKK is implementing a number of activities to support the development of the ICT sector in Kosovo, including:
- Compiling market information and conducting research on the ICT market in Kosovo and in the region;
- Informing the Kosovo ICT sector on relevant trends in the industry throughout Europe and about business and development opportunities;
- Lobbying to address issues such as customs tax on the ICT sector;
- Attracting investment and businesses interested in the ICT sector in the region;
- Implementing a marketing campaign to increase public and private sector exposure to the ICT industry;
- Providing training and capacity building opportunities; and
- Working to improve the ICT education curriculum at learning institutions.
|
| TOP
|
Promoting Integrated Development (PDA) in Peru
|
|
|
The goal of the Promoting Integrated Development (PDA) project in Peru is to promote sustainable, licit development in communities and regions affected by illicit coca cultivation in Peru. PDA builds on the previous achievements of the Alternative Development Program, which supported the transition of over 800 communities and 70,000 families (over 60% of them former coca growers) to a licit lifestyle after voluntary eradication of their coca crops.
Under PDA, Crimson Capital manages the financial services component and is working to increase and improve access to finance in Peru’s Selva region through the introduction of new products, value chain finance and training and technical assistance to local lenders. The Crimson team is currently assisting eleven banks introduce a credit-linked savings product which is helping rural agricultural producers obtain much needed access to finance. To date, over $16.48 million in credit has been approved to more than 7,450 agricultural producers in the target areas. More than 4,450 savings accounts have been opened, totaling over $6.26 million.
Crimson's experts have also provided assistance in the development and launch of DCA Loan Portfolio Guarantees (LPGs) with seven financial institutions. These DCA LPGs provide guarantees of $11.5 million (to support $23 million in SME lending) in the PDA target areas.
|
| TOP
|
Mongolia Economic Policy Reform and Competitiveness (EPRC)
|
|
|
The Economic Policy Reform and Competitiveness project was designed to accelerate and broaden sustainable economic growth in Mongolia’s private sector by invigorating the enabling environment and creating more competition within industries and sectors. The project utilized consensus building, public education, energy sector support, policy assistance and cluster development.
Crimson supported the prime contractor, Chemonics International, by developing and supporting critical industrial sectors pursue growth, increased revenues and employment. Crimson professionals drafted the Concessions Law, which paves the way for privatization and foreign investment and guided interventions in housing finance policy. Crimson advisors also developed a package of recommendations to improve the logistics infrastructure at the Zamiin Uud border, supporting increased trade and transit. In the wake of the global economic crisis, Crimson advisors also assisted the Government of Mongolia refine its Bank Restructuring and Recapitalization Program.
|
| TOP
|
|
Africa Infrastructure Program (AIP)
|
|
|
Crimson teamed with Nexant to work on this three-year, USAID-funded program, which was designed to support private sector investments in the electricity and energy sector in sub-Saharan African (SSA). The team worked to implement this goal by providing legal, fiscal, contracts negotiations, evaluations, policy and regulatory support to close late-stage energy infrastructure transactions.
|
| TOP
|
Macedonia Agribusiness Activity (AgBiz)
|
|
|
The primary objective of USAID’s AgBiz Program was to sustainably increase the competitiveness of Macedonian agribusiness producers, processers and traders in selected agribusiness value chains. The AgBiz team worked to help Macedonian agribusinesses enter export markets for value added food products, enhance market linkages along the selected value chains, improve business management and operations, build income-generating opportunities for agribusinesses and create new employment.
Crimson worked through a subcontract to ARD on AgBiz to help Macedonian agribusinesses source capital, enable them to expand and improve production, and increase sales. Crimson experts assisted agribusinesses access over $7.4 million in debt financing and over $9 million in equity to expand their operations and complete trade deals. To further support agribusinesses source capital, Crimson experts developed the Finance Guide for Agribusinesses and SMEs. The guide provides detailed explanation of the financial products and services available to Macedonian agribusinesses and practical information on how to apply for them.
The Crimson team also assisted fresh fruit and vegetables producers and marketers to improve their processes, install more efficient drip irrigation systems, upgrade storage facilities, and enhance their export marketing capabilities. Crimson experts organized six study tours (in South Africa, Israel, USA, Holland, Poland and Croatia) with a focus on pre/post harvest handling of fresh products. In addition, Crimson organized seven B2B meetings and assisted Macedonian exporters participate in three trade fairs, including Fruit Logistica Berlin, World Food Moscow, and Novi Sad International Agricultural Fair. As a result, Macedonian agribusinesses increased sales by over $12.5 million in just three years. To further promote international competiveness, Crimson experts assisted agricultural producers and processors implement HACCAP, ISO 20,000 and Global Gap.
Crimson also assisted the establishment of the Macedonian Agro Exporters Association (MAEA), the first trade association in Macedonia representing fresh fruits and vegetables exporting companies.
|
| TOP
|
Armenia FS Share Stability Pilot (FSSP) Project
|
|
|
Through the USAID FS Share contract, Crimson implemented the “FS Share Stability Pilot Project” (FSSP) in Armenia, under a subcontract to Chemonics International. FSSP focused on rapidly identifying, adapting and introducing applicable financial products to increase Armenian SME access to finance in targeted value chains.
In just six months, Crimson advisors supported two Armenian partner banks in developing and marketing new debt products designed specifically for SMEs, including Purchase Order Finance (POF). By the close of FSSP project assistance (December 2009 - July 2010), the two partner banks had fully integrated these new debt products into their existing loan portfolio line and had exceeded USAID SME lending targets for the project more than two times over.
|
| TOP
|
Azerbaijan Private Sector Competitiveness Enhancement Program (PSCEP)
|
|
|
The Private Sector Competitiveness Enhancement Program (PSCEP) was designed to promote the competitiveness of select non-natural resource sectors of the Azeri rural economy in order to create jobs, increase exports, and generate investments. Crimson Capital supported PSCEP project by working to improve SME access to finance under a subcontract to Chemonics International.
Through PSCEP, Crimson worked with targeted partner banks and financial institutions to introduce Purchase Order Finance (POF); to expand the use of Letters of Credit, Letters of Guarantee and Documentary Collection; and to expand the use and availability of leasing in the Azeri market. By the successful close out of technical assistance, and in less than two years, Crimson assistance resulted in over $52 million in SME finance issued by PSCEP partner banks, supporting over $32 million in sales and exports and creating more than 139 new jobs, including 54 jobs for women.
|
| TOP
|
Competitive Enhancement and Enterprise Development (CEED) Project in Moldova
|
|
|
The Competitive Enhancement and Enterprise Development (CEED) project was designed to build the competitiveness of Moldovan enterprises in the global market and to foster a supportive business environment. CEED supported the development of key industry clusters of the Moldovan economy including wine, textiles/apparel, and information and communications technology (ICT).
Under a subcontract to Chemonics International, Crimson experts provided technical assistance to six partner banks, enabling them to introduce innovative, working capital products such as Purchase Order Finance (POF). As a result of this assistance, CEED partner banks made POF loans totaling over $5.9 million to Moldovan enterprises, enabling more than $12 million in sales.
|
| TOP
|
Indonesia Anticorruption and Commercial Court Enhancement (In-ACCE)
|
|
|
As part of the Commercial Legal and Institutional Reform (CLIR) IQC, this USAID-funded activity was designed to assist the Supreme Court of the Republic of Indonesia in the development of the nation's commercial court and in the establishment of an anticorruption court. The project supported reforms in these specialized courts, with emphasis on improving operational capacity, increasing government transparency, developing case management capacity and facilitating public access to information. Crimson experts contributed to the project in the areas of court administration and reform, under a subcontract to Booz Allen Hamilton.
|
| TOP
|
Rural Competitiveness Activity (ARCo), Bolivia
|
|
|
The main goal of the ARCo project was to strengthen the competitiveness of rural enterprises in the Chapare and Yungas regions of Bolivia, thus increasing sales, income and jobs in the licit economy. To increase economic viability, rural producers received training and technical assistance on how to add value to their products, meet market-based demand, and strengthen relationships with processors and exporters.
During the life of the project (2005-2009), Crimson advisers oversaw the Financial Services Unit of ARCo, which worked to open channels of finance for small and medium sized enterprises. Through a competitive process, Crimson’s team selected FIE, a leading Bolivian microcredit institution, to pilot new value chain finance products in the rural markets of Yungas and Chapare. FIE opened five new lending branches in Yungas and Chapare, which now provide full banking services to communities. This innovative program issued over $18.5 million in loans to more than 4,000 clients and created an estimated 3,500-plus jobs. In addition, rural clients opened more than 9,000 savings accounts with deposits totaling over US $4.5 million.
Under ARCo, Crimson advisers also worked to introduce a new type of business registration specifically designed for rural producer associations. The result: a simplified business registration process for rural producers associations, allowing them to legally register their businesses in just three days. Since this new type of business registration was introduced, more than 60 rural producer cooperative associations in Yungas and Chapare have legally registered their businesses and subsequently opened savings accounts totaling over $.5 million.
Crimson’s work in rural Bolivia through the ARCo project is cited as having achieved what donors and IFIs had been attempting for over 15 years without success, and won the USAID 2009 Award for Innovations in Value Chain Finance.
|
| TOP
|
Kosovo Economic Management for Stability and Growth (EMSG) Project
|
|
|
Under EMSG, Crimson Capital provided advisory services to the Ministry of Energy and Mining (MEM), the Project Steering Committee (PSC) of the Lignite Power Technical Assistance Project (LPTAP), and the Government of Kosovo for reform in the energy sector. Activities included assistance on the development of the 3 billion EUR LPTAP program consisting of a new lignite mine and 2,000 MW lignite-fired power plant, future disposition of existing power plants, legal and regulatory reform, and the privatization to a foreign strategic investor of the distribution and supply functions of Korporata Energjetike e Kosova (KEK), the electric utility. Crimson Capital was a subcontractor to BearingPoint on this activity.
|
| TOP
|
El Salvador Financial Services for Small and Medium Enterprises
|
|
|
The goal of this project was to stimulate trade and investment, create jobs and reduce poverty in El Salvador. The project targeted eight financial institutions to expand lending and other financial services to underserved markets and to introduce viable loan products that better serve SME financing needs. Of the eight partner financial institutions selected, six are commercial banks and two are Non-Banking Financial Institutions (NBFIs).
In addition to the work of the resident Chief of Party, Crimson Capital experts provided short-term expertise to help partner institutions develop new working capital finance and leasing products to better reach the SME clients. Crimson’s experts also conducted an analysis of potential products that partner banks may employ to address market gaps.
|
| TOP
|
Madagascar Technical Assistance for the Implementation of the ABCs Services and Strategies in Rural Agribusiness Development Program (ABIP)
|
| Millennium Challenge Account (MCA) Madagascar |
2007
- 2009
|
|
This activity was designed to build the capacity of a network of newly developed agribusiness service centers across the country. The main objective was to create a rural agricultural business promotion system that is market-driven, demand-based and customized to the end-user in the delivery of services to improve production, marketing and business practices. Under the project, Crimson Capital developed a business plan for the main service center, focused on long-term sustainability beyond donor funding.
|
| TOP
|
Cluster and Business Support in Kosovo (KCBS)
|
|
|
Employing an integrated approach and cluster-based strategy, the Kosovo Cluster and Business Support project was designed to support value chains in targeted sectors (livestock, fruit and vegetables and construction materials) to stimulate employment, sales, finance and investment. The KCBS project was part of the SEGIR II Privatization IQC. Crimson contributed to the project under a subcontract to Chemonics International.
Through KCBS, Crimson advisors worked to improve access to finance for key industries. Specifically, Crimson:
- Supported the introduction of leasing and purchase order finance in the Kosovo market, including supporting the development of the Law on Leasing.
- Facilitated two new joint ventures totaling $6 million.
- Developed the DCA Agricultural Loan Portfolio Guarantee with Raiffeisen Bank, which got Raiffeisen to go into agricultural lending, hire and train specialized agricultural loan officers, and make loans throughout Kosovo to farmers and processors. As a result, the 10 million Euro DCA loan portfolio guarantee program for the agricultural sector issued through Raiffeisen Bank and was fully utilized in less than two years.
- Designed and implemented two Kosovo Finance Fairs, connecting more than 2,000 businesses with new credit opportunities.
Crimson experts also provided technical expertise to the construction and building materials sector to help increase the productivity and competitiveness of partner businesses throughout the project.
|
| TOP
|
Madagascar Business and Market Expansion (BAMEX)
|
|
|
BAMEX was designed to foster economic growth in Madagascar by promoting domestic and export trade and by increasing revenues generated from agricultural, gemstone and ecotourism products in a sustainable and environmentally friendly manner. Activities focused on enhancing the competitiveness of targeted sectors, improving the financial services market and developing an improved business regulatory environment. Crimson worked on BAMEX under a subcontract to Chemonics International.
Under BAMEX, Crimson’s primary role was to develop markets and build trade linkages for key industry sectors. Crimson professionals facilitated new export opportunities for Malagasy exporters, now able to reach major European buyers for products such as litchis and vanilla. Crimson’s experts coordinated visits of large-scale European importers to Madagascar, resulting in significant sales orders for two Malagasy exporters.
|
| TOP
|
Paraguay Poverty Reduction Program
|
|
|
The Paraguay Poverty Reduction Program took a demand-driven approach to stimulate economic growth and development in three key economic corridors of Paraguay. Crimson advisors worked with selected Paraguayan companies, assisting them to complete trade deals to export their products to European markets, including herbal teas, food products and textiles. Crimson contributed to the project under a subcontract to Chemonics International.
|
| TOP
|
|
Doing Business Case Studies in Central and East Africa
|
| International Finance Corporation (IFC) / USAID |
2007
|
|
Crimson Capital developed case studies for the IFC and USAID on licensing reform, trade across borders and contract enforcement in Kenya, Rwanda, Tanzania and Uganda. The case studies focused on reforms in areas of relevance to the World Bank Doing Business rankings. The analysis looked at the history and development of reforms, implementation to date and the challenges and benefits of new approaches to improve the ease of doing business in each of the four countries.
|
| TOP
|
Strengthening the Competitiveness of Private Enterprise in Uganda (SCOPE)
|
|
|
The SCOPE project was designed to increase the competitiveness of targeted sub-sectors of Uganda’s economy and to improve Uganda’s position in local, regional, and international markets. The project facilitated the development of private sector-driven business strategies and worked to increase the capacity of private sector institutions to support competitiveness, structure a results-oriented, private-public competitive dialogue, and support the development of an enabling environment for broad-based economic growth. Crimson contributed to the project under a subcontract to Chemonics International.
Through SCOPE, Crimson advisors assisted four key agriculture sub-sectors – coffee, cotton, fish and floriculture – organize into clusters and develop industry-wide strategies to increase production, create jobs and boost export earnings. For example, Crimson’s advisers helped develop investments and sales the floriculture sector, with over 500,000 stems delivered to the US (see www.USAID.gov/press/releases/2006/pr060222.html). Crimson advisors brought together major players in the tourism industry to develop a comprehensive geotourism strategy designed to make Uganda the first African signatory to National Geographic’s Sustainable Destination Charter and double tourism revenue in 10 years and facilitated the development of a national brand – Uganda: Gifted by Nature – as well as Gifted by Nature Inc., a not-for-profit company formed to oversee the brand and promote Uganda in regional and international markets.
|
| TOP
|
Armenia Micro Enterprise Development Initiative (MEDI)
|
|
|
The Micro Enterprise Development Initiative was designed to strengthen the business and enabling environment for Armenian micro and small enterprises (MSEs) by increasing access to financial services, improving MSE capacity through sustainable Business Development Services (BDS), reforming the legal, regulatory and policy framework, and by enhancing trade and investment opportunities. Crimson contributed to MEDI under a subcontract to Chemonics International.
Through MEDI, Crimson advisors provided technical assistance and training to eight leading Armenian banks to introduce Purchase Order Financing (POF) and other types of trade finance to the Armenian MSME market. The results: 52 new trade finance loans (including POF) totaling $5.8 million. To widen the understanding and use of this type of financing, Crimson organized three MSME Finance Workshops with representatives of all leading Armenian banks and the Central Bank of Armenia. Crimson also organized a B2B meeting for Armenian and Georgian firms in the construction and building materials sectors, bringing together 70 firms and organizations to meet each other and conduct business from buying and selling products and services to developing partnerships.
|
| TOP
|
Colombia Forestry Development Program (CFDP)
|
|
|
The goal of the CFDP project was to expand the production of marketable and profitable forest products and provide alternative sources of income for rural communities where forestry activities are centered. Assistance focused on connecting sustainable forest-product production chains to domestic and international markets. The project encompassed policy reform, capacity building, market generation activities, natural and plantation forestry management, the development of a Commercial Forestry Development Fund and exploration of new opportunities for trade and exports. Crimson contributed to the project under a subcontract to Chemonics International.
Through CFPD, Crimson provided technical assistance for co-investment fund activities, prepared forestry businesses for strategic investment and designed a forestry fund mechanism to stimulate investment in sawmill operations, including the selection, procurement, and installation of equipment and launch of operations. CFPD project activities benefited more than 3,600 families, created more than 200 jobs, initiated sustainable forestry management activities on 3,000 hectares and established 12 forestry enterprises.
|
| TOP
|
Privatization and Restructuring of the Macedonia Electricity Company (Elektrostopantsvo na Makedonija ESM)
|
| Government of Macedonia |
2002
- 2006
|
|
Under this initiative, Crimson was the co-lead investment bank with the Meinl Bank Consortium (MBC), and advised the Government of Macedonia (GOM) on the unbundling, restructuring, and privatization of the vertically integrated electric power utility ESM.
The project targeted reform of the legal and policy framework for the energy sector and restructuring of the regional electricity market and worked towards compliance with the Athens Protocol. Program components included:
- Creating detailed restructuring plans
- Assuring due diligence in technical, commercial, financial, tax, and legal frameworks
- Delivering recommendations on the structure and regulation of the electricity market in line with European standards
- Preparing and implementing actual restructuring and privatization
Crimson assisted the GOM in obtaining a key $45 million USD pre-privatization investment from the EBRD for ESM and was a member of the government’s steering committee for the restructuring and privatization of the energy sector. On March 17, 2006, the GOM approved the sale of 90% of AD ESM, the Macedonian Electricity Distribution Company, to the Austrian utility EVN AG for €225 million, along with an investment commitment of €96 million. This sale represents a regional record price per distribution customer. European and Macedonian press and Transparency International praised the transaction as a successful model of privatization.
|
| TOP
|
Study on the Development of the Bond Market for Mortgage Backed Securities (MBS) in Bangladesh
|
| International Finance Corporation (IFC) |
2006
|
|
Crimson completed a detailed study for the IFC on the development of debt capital markets in Bangladesh, focusing on issuance of corporate bonds and asset-backed securities (including mortgage-backed securities). This included a thorough analysis of the current state of the Bangladesh debt market, profiles of institutional investors and analysis of secondary markets as well as analysis of the current legal and regulatory environment. The study also provided recommendations for removing critical impediments and actions to be taken in the short, medium and long term to improve the functioning of both primary and secondary markets.
|
| TOP
|
Northeastern States Trade and Investment Creation Initiative, India
|
| Asian Development Bank |
2005
- 2006
|
|
The project was designed to support the development of the private sector in Northeastern India. Assistance focused on developing innovative approaches to greater economic integration of the region, developing global and intraregional transport, and increasing communications and information, trade and investment activities. Under the project, Crimson experts designed a finance facility to promote exports for private sector development.
|
| TOP
|
Kosovo Business Support Program (KBS)
|
|
|
KBS deployed technical assistance to Kosovar companies and agribusinesses to achieve viability and competitiveness by improving their operations, finance, marketing, and ability to attract financing. Developing sustainable local capacity for Business Development Services (BDS) and building new trade and investment linkages comprised Crimson’s major foci under this program.
Crimson put together 22 B2B meetings and 12 trade fairs with 893 Kosovar businesses attending, resulting in over €25 million from 712 new trade and investment transactions. Crimson’s long-term consultant managed the Northern Kosovo Office for better regional cooperation with Serbia, and its short-term consultants applied their talents to improve accounting/auditing training and certification, multiplying trade and investment in B2B relationships, and boosting the competitiveness of the textile sector. KBS collaborated with over 1000 SMEs and helped 718 of its participant firms to realize a 20% increase in sales. Operational profitability at 1,675 firms increased by 5% or more, with over 1,651 new jobs created.
|
| TOP
|
Preparing the Market Access and Productivity Growth for the Private Sector Project in Nepal
|
| Asian Development Bank |
2003
- 2004
|
|
Technical assistance on this project included identifying and analyzing policy, legal and institutional constraints to private sector growth in Nepal and developing and implementing recommendations to help the private sector overcome identified constraints. Crimson experts designed and created a private sector fund to catalyze investment and growth opportunities in the Nepalese SME market. Crimson structured an innovative, 15 million USD financing vehicle that incorporates equity, quasi-equity and debt to maximize financing and investment opportunities for SMEs in Nepal.
|
| TOP
|
Uganda Support for Private Enterprise Expansion and Development (SPEED)
|
|
|
SPEED provided technical assistance and training to increase the access of MSMEs to financing. Crimson took an active role in the assessment, design, and implementation of the program, and managed the Business Environment Component (legal, policy, and regulatory).
Crimson helped achieve significant improvements in the Land and Companies Registries (file archiving and establishing policies, procedures, and laws relating to company and land registries, including the complete rehabilitation of over 36,000 files). Crimson professionals upgraded the Center for Arbitration and Dispute Resolution (CADER), which has developed into a sustainable and profitable institution with a key role in reducing backlogs of court cases. Crimson also developed and completed extensive training of judges, lawyers and business people, and assisted successful efforts to amend the Leasing Law to allow for improved tax treatment permitting much more extensive use of leasing by MSMEs.
|
| TOP
|
Macedonian Business Resource Center (MBRC)
|
|
|
USAID and Crimson established the MBRC to help Macedonian businesses streamline and strengthen their competitiveness, financial management, operations, service delivery, and marketing. The project enhanced local ability to export their products, raise capital and attract join venture partnerships.
Over 350 companies benefited from improvements and restructuring, and the MBRC trained 4,500 local managers, consultants, and government officials in 40 key subject areas. During the last three years of the project, MBRC facilitated over $95 million in trade and investment in more than 1,100 transactions. The MBRC also focused on capacity building, and incubated and spun out six independent, sustainable local entities which are now 100% self-supporting, including 4 consulting firms and 2 NGOs.
|
| TOP
|
USAID Restructuring Team to the Czech Ministry of Industry and Trade and to Komercni Banka
|
|
|
The team, including Crimson experts, delivered training, technical restructuring assistance, and policy/legal advice to Czech companies, the Ministry of Industry and Trade, managers of select companies, and the Problem Loan Department of Komercni Banka, one of the largest commercial banks in CEE. The project concentrated on the areas of financial and operational restructuring, privatization, foreign investment, joint ventures, policies and procedures for strategic industries, and institutional strengthening. The team successfully restructured 12 of the largest and most important companies, doubling the expected benchmark of restructuring six companies.
Crimson parlayed its successful experience on this project into conducting a similar, intensive training program in privatization and restructuring for the Romanian Restructuring Agency.
|
| TOP
|
USAID Advisory Team to the Czech Ministries of Privatization, Industry and Trade and National Property Fund
|
|
|
This team provided technical assistance, policy/legal advice, institutional assessments, and training for rapid market reform and independent, sustained capacity building to the Czech Government. The project accomplished dramatic changes in privatization policies, restructuring, foreign direct investment, environmental protection, remediation and indemnification, enabling legislation, training and institution building, and fairness and transparency.
Crimson’s privatization program in the Czech Republic is heralded as one of the most successful privatization programs anywhere. Crimson worked with 13 of the 20 largest employers in the country, 26 of the 50 largest companies, and all 16 regional electricity and natural gas distributors. The project catalyzed over 145 foreign investor privatization transactions, and contributed to the raising of over $5 billion in new foreign direct investment into Czech companies. In all, over 200 companies with assets over $10 billion successfully privatized.
|
| TOP
|