# CASPIAN FINANCIAL CENTER

 

The United StatesGovernment has opened a new type of overseas office in Ankara, Turkey, for thespecific purpose of helping U.S. companies identify, evaluate and financecommercially viable projects in the Caspian Region.   Called the Caspian Finance Center, the office isstaffed by senior business development managers from the U.S. Export-ImportBank (Ex-Im Bank), the U.S. Trade and Development Agency (TDA), and theOverseas Private Investment Corporation (OPIC), also the U.S. CommercialService.   The Center locatesthese seasoned U.S. financing personnel close to the places where decisions aremade on Caspian Region projects. It facilitates coordination among U.S. financing agencies on both thebusiness development activities and the financing support needed by U.S.companies for successful pursuit of projects in the region. 

 

Each of the agenciesrepresented at the Financing Center has been active for some time in theCaspian Region.  While differing infocus, each agency’s activities will now be effectively coordinated as parts ofa total project effort.  Forexample, TDA, which in 1998 funded 26 studies for projects in Turkey,Azerbaijan, Kazakhstan, and other Caspian countries, specializes in thefeasibility studies, technical assistance and reverse trade missions that helpAmerican firms form beneficial partnerships with overseas sponsors.   Ex-Im Bank, which has authorizednearly $700 million to support U.S. exports to Turkey, Uzbekistan,Turkmenistan, and Kazakhstan, helps finance U.S. goods and services exports toindustrializing and developing markets worldwide by providing loans, loanguarantees, and insurance.  OPIC, with over $2 billion in project finance and political riskinsurance support in the region, has a history of working closely with the U.S.Commercial Service to support U.S. participation in energy and infrastructureprojects, economic reform, and privatization programs.  OPIC can and has provided politicalrisk insurance coverage (including for capital market transactions) in CaspianRegion  projects in oil/gas,electric power, telecommunications, financial services, agribusiness and foodprocessing, transportation, equipment sales and distribution facilities, andcommercial, retail and hotel development.

 

The governments ofTurkey, Azerbaijan, Kazakhstan, Turkmenistan, Armenia, Georgia, and Uzbekistan,all leading countries either endowed with oil and gas reserves or providingpipeline passage to the West for these resources, are planning to develop theirenergy reserves and modernization their economies.  Thus TDA is already providing the feasibility study fundingand technical assistance that will provide these governments with access toU.S. expertise.  OPIC is availableat the Center to provide eligible U.S. investors with insurance coverage andfinancing for construction, ownership and operation of oil and gas pipelinesand other energy and non-energy projects, both large and small.  Ex-Im Bank is available for trade andexport finance to U.S. and foreign companies that use U.S.-manufactured goodsand services to implement these projects.

 

Contacts:

Local Mailing Address: 

 

Caspian Finance Center

110 Atat�rk Bulvari

06100  Ankara, Turkey

Telephone:  90 (312) 466-6081

Fax:  90 (312) 466-6082

E-Mail:   [email protected]

Internet:   www.caspianfinance.com

 

U.S. Mailing  Address: 

 

Caspian Finance Center

PSC 93, Box 5000

APO, AE  09823-5000

 

Caspian Finance Centerstaff:

Peter Ballinger,Overseas Private Investment Corporation

John Breidenstine, U.S.Commercial Counselor for Turkey, Armenia, Georgia and Uzbekistan

Julie Panaro,Export-Import Bank

Deborah Forhan, Tradeand Development Agency

Emel Erdemir,Administrative Assistant