Füllung weiß/ keine Füllung The Specialist Bank for the Public Sector 1 May 2008 Marc Schimpel, Lukas Stuehlinger Dexia Kommunalkredit Bank - PPP & Maastricht.

1 May 2008 The Specialist Bank for the Public Sector

Marc Schimpel, Lukas StuehlingerDexia Kommunalkredit Bank - PPP & Maastricht Advisory

Off-balance sheet financing in municipalities

Regional Development and Municipal Finance

26 June, Bukarest

May 20082 The Specialist Bank for the Public Sector

Municipal off-balance sheet financing

Simple PPP structure

Based on German model

Forfaiting financing

Simple PPP structure

Based on German model

Forfaiting financing

Micro PPPs Market Producers

EUR 10m to EUR 30m > EUR 0 m

Public project company

Income from Tariffs

min 50% market income (!)

Public project company

Income from Tariffs

min 50% market income (!)

May 20083 The Specialist Bank for the Public Sector

Example for a Micro PPP

Micro PPP to renovate/finance/operate a school in Vienna

Contract structure: PPP, forfaiting financing model

Capital value: €8,6m, Duration: 11 years

Typical sectors: Education, Health

May 20084 The Specialist Bank for the Public Sector

Example for a Market Producer

Market Producer: Wastewater sewage plant

Public project company, funded by customer tariffs (ca. 70%)

Capital value: several projects 0,5 to €20m

Sectors: Waste, Wastewater, Energy

May 20085 The Specialist Bank for the Public Sector

Example for sector restucturing

No one-by-one solutions! active restructuring led by Ministries

Dexia Kommunalkredit Project Example: Restructuring of Austrian municipal service sector (1997-01) - Project by Min. of Finance / Municipalities Assoc. / Statistik Austria - development of standards + clear implementation process - reduction of public debt of municipalities by ca. 66%

May 20086 The Specialist Bank for the Public Sector

What we can do for you

off-balance sheet restructuring of the public service sector

development of PPP financing structures / standards

Maastricht-optimised restructuring of assets and debt

Our experienced Advisory Team can support you with:

May 20087 The Specialist Bank for the Public Sector

Dexia-Kommunalkredit Austria

Lukas Stuehlinger

Phone

+43-1-316 31 425

PPP AdvisoryDexia Kommunalkredit Bank AG

Marc Schimpel+43-1-

316 31 591Off-balance sheet / Maasticht ExpertDexia Kommunalkredit Bank AG

Dexia Kommunalkredit Bank AG

dexia-kom@dexia-kom.comTuerkenstrasse 9, 1092 Vienna

8 May 2008 The Specialist Bank for the Public Sector

www.dexia-kom.com