natgillin/translations-raw huggingface dataset:
Adverse business, financial, or economic conditions will likely impair capacity or willingness to repay.
Dolžnik/garant je trenutno zmožen zagotavljati odplačevanje, vendar je meja varnosti še vedno omejena.
moderately weak to weak to very weak cash and income generation
Ker je zmožnost neprekinjenega plačevanja odvisna od trajnostnega, ugodnega poslovnega in gospodarskega okolja, lahko nastanejo težave pri plačevanju.
moderately weak to weak liquidity levels
Negativne poslovne, finančne ali gospodarske razmere bodo verjetno zmanjšale zmožnost ali pripravljenost odplačevanja.
moderately high to high leverage
zmerno slabo do slabo ali zelo slabo ustvarjanje denarnih sredstev in dohodka,
weak business profile with limited or no track record of management abilities
zmerno slabe do slabe ravni likvidnosti,
The entity is also characterised by a poor quality of financial and ownership disclosure, unless there is a very high likelihood of support from a parent (or sovereign) with a buyer risk classification that is equal to or better than what corresponds to this buyer risk category.
zmerno visok do visok finančni vzvod,
Depending on the classification of the country in which the obligor/guarantor is domiciled, it is likely that an obligor/guarantor classified in buyer risk category CC5 would be rated between BB- (Country Category 1) and B- or worse (Country Category 4) by accredited CRAs.
slab poslovni profil z omejenimi zmožnostmi upravljanja ali brez zmožnosti upravljanja.
Most typically this would be a risk on the central bank or Ministry of Finance.
Za subjekt je značilna tudi nizka kakovost razkritja finančnih informacij in lastništva, razen če obstaja zelo velika verjetnost podpore s strani matičnega podjetja (ali države), katere razvrstitev glede na tveganje kupca je enaka ali boljša od zadevne kategorije tveganja kupca.
For central government entities other than the finance ministry, due diligence shall be undertaken to affirm that the entity commits the full faith and credit of the sovereign.
Odvisno od razvrstitve države, v kateri ima dolžnik/garant sedež, bi akreditirane bonitetne agencije dolžnika/garanta, razvrščenega v kategorijo tveganja kupca CC5, verjetno ocenile med BB– (kategorija države 1) in B– ali slabše (kategorija države 4).
ANNEX XIII
Najpogosteje se to tveganje nanaša na centralno banko ali ministrstvo za finance.
CRITERIA AND CONDITIONS GOVERNING THE APPLICATION OF COUNTRY RISK MITIGATION TECHNIQUES AND BUYER RISK CREDIT ENHANCEMENTS
V zvezi s subjekti na centralni ravni države, razen za finančno ministrstvo, je treba na podlagi skrbnega pregleda poslovanja potrditi, da ima subjekt popolno zaupanje in kreditno sposobnost državnega posojilojemalca.
This Annex provides detail on the use of country risk mitigation techniques listed in Article 30(a) of the Arrangement and the buyer risk credit enhancements listed in Article 31(a) of the Arrangement; this includes the criteria, conditions and specific circumstances which apply to their use as well as the impact on the MPRs.
PRILOGA XIII
Definition:
MERILA IN POGOJI, KI UREJAJO UPORABO TEHNIK ZA ZMANJŠANJE TVEGANJA DRŽAVE IN IZBOLJŠAV KREDITNEGA TVEGANJA KUPCA
A written document, such as a deed or a release or trustee arrangement, sealed and delivered to a third party, i.e. a person not party to the instrument, to be held by such third party until the fulfilment of certain conditions and then to be delivered by him to the other party to take effect.
Ta priloga določa podrobnosti o uporabi tehnik za zmanjšanje tveganja države iz člena 30(a) Sporazuma in izboljšav kreditnega tveganja kupca iz člena 31(a) Sporazuma.
If the following criteria are satisfied subject to consideration of the additional factors listed, this technique can reduce or eliminate the transfer risks, mainly in the higher risk country categories.
To vključuje merila, pogoje in posebne okoliščine, ki veljajo za njihovo uporabo, ter učinek na MPR.
Criteria:
Opredelitev:
The escrow account is related to a foreign exchange-earning project and the flows into the escrow account are generated by the project itself and/or by other offshore export receivables.
Pisni dokument, kot je listina ali dokument o odstopu ali dogovor o skrbništvu, zapečaten in predložen tretji stranki, tj. osebi, ki ni stranka dokumenta, in je v posesti take tretje stranke, dokler niso izpolnjeni nekateri pogoji, potem pa ga ta stranka predloži drugi stranki za začetek veljavnosti.
The escrow account is held offshore, i.e. located outside of the country of the project where there are very limited, transfer or other country risks (i.e. in a High Income OECD country or High Income Euro Area country).
Če so ob upoštevanju dodatnih navedenih dejavnikov izpolnjena naslednja merila, se lahko s tako tehniko zmanjšajo ali odpravijo transferna tveganja, zlasti v višjih kategorijah tveganja države.
The escrow account is located in a first class bank which is not directly or indirectly controlled by interests of the obligor or by the country of the obligor.
Merila:
The funding of the account is secured through long-term or other appropriate contracts.
založni račun je povezan s prihodki delovanja projekta v tuji valuti, pri čemer tokove v založni račun ustvarja projekt sam in/ali druge izvozne terjatve v tujini,
The combination of the sources of revenues (i.e. generated by the project itself and/or the other sources) of the obligor flowing through the account are in hard currency and can reasonably be expected to be collectively sufficient for the service of the debt for the entire duration of the credit, and come from one or more creditworthy foreign customers located in better risk countries than the country in which the project is located (i.e. normally High Income OECD countries or High Income Euro Area countries).
založni račun se nahaja v tujini, tj. zunaj države projekta, kjer so transferna ali druga tveganja države zelo omejena (tj. v državi OECD z visokim dohodkom ali državi euroobmočja z visokim dohodkom),
The obligor irrevocably instructs the foreign customers to pay directly into the account (i.e. the payments are not forwarded through an account controlled by the obligor or through its country).
odprt mora biti v prvovrstni banki, ki ni neposredno ali posredno kontrolirana s strani dolžnika ali organov njegove države,
The funds which have to be kept within the account are equal to at least six months of debt service.
poravnavanje obveznosti z računa mora biti zavarovano z dolgoročnimi ali drugimi ustreznimi pogodbami,
Where flexible repayment terms are being applied under a project finance structure, an amount equivalent to the actual six months debt service under such flexible terms are to be kept within the account; this amount may vary over time depending on the debt service profile.
kombinacija virov prihodkov (tj. ki jih ustvari projekt sam in/ali drugi viri) dolžnika, ki pritekajo na račun, je v trdni valuti, pri čemer je upravičeno pričakovati, da bo kolektivno zadostna za servisiranje dolga za ves čas trajanja kredita, hkrati pa jih mora zagotoviti ena ali več posojilno sposobnih tujih strank, ki se nahajajo v državah s tveganjem, ki je manjše od tveganja v državi, v kateri se nahaja projekt (običajno so to države OECD z visokim dohodkom ali države euroobmočja z visokim dohodkom),
The obligor has restricted access to the account (i.e. only after payment of the debt service under the credit).
dolžnik izda tujim strankam nepreklicno navodilo za vplačila neposredno na račun (tj. vplačila niso izvršena prek računa, ki ga nadzira dolžnik ali prek njegove države),
The revenues deposited in the account are assigned to the lender as direct beneficiary, for the entire life of the credit.
sredstva na računu morajo zadoščati za vsaj šestmesečno servisiranje dolga.
The opening of the account has received all the necessary legal authorisations from the local and any other appropriate authorities.
Če se v primeru projektnega financiranja uporabljajo fleksibilnejši roki odplačevanja, mora znesek na računu zadoščati za dejansko šestmesečno servisiranje dolga pod takimi fleksibilnimi pogoji, pri čemer se lahko ta znesek sčasoma spreminja, odvisno od profila servisiranja dolga,
The escrow account and contractual arrangements may not be conditional and/or revocable and/or limited in duration.
dolžnik ima omejen dostop do računa (tj. le po plačilu servisiranja dolga),
Additional Factors to be taken into Consideration:
prihodki na računu so pripisani posojilodajalcu kot neposrednemu upravičencu za ves čas trajanja kredita,
The technique applies subject to a case-by-case consideration of the above characteristics and, inter alia, with regard to:
za odprtje računa so bila prejeta vsa potrebna pravna dovoljenja lokalnih in vseh drugih pristojnih organov,
the country, the obligor (i.e. either public or private), the sector, the vulnerability in relation to the commodities or services involved, including their availability for the entire duration of the credit, the customers,
založni račun in pogodbeni dogovori morajo biti brezpogojni in/ali nepreklicni ter/ali časovno neomejeni.
the legal structures, e.g. whether the mechanism is sufficiently immune against the influence of the obligor or its country,
Dodatni dejavniki, ki jih je treba upoštevati:
the degree to which the technique remains subject to government interference, renewal or withdrawal,
Tehnika se uporablja na podlagi upoštevanja zgornjih značilnosti za vsak primer posebej in med drugim glede na:
whether the account would be sufficiently protected against project-related risks,
državo, dolžnika (tj. javnega ali zasebnega), gospodarsko panogo, občutljivost glede vključenega blaga ali storitev, vključno z njihovo razpoložljivostjo za ves čas trajanja kredita, stranke,
the amount which will flow into the account and the mechanism for the continuation of appropriate provision,
pravne strukture, npr. ali je mehanizem zadostno neobčutljiv na vpliv dolžnika ali njegove države,
the situation with regard to the Paris Club (e.g. possible exemption),
stopnjo, do katere za tehniko še naprej velja posredovanje države, podaljšanje ali odpoved,
the possible impact of country risks other than the transfer risk,
ali je račun zadostno zaščiten pred tveganji, povezanimi s projektom,
the protection against the risks of the country where the account is located,
znesek, ki bo pritekel na račun, in mehanizem za nadaljevanje ustreznega zagotavljanja,
the contracts with the customers, including their nature and duration, and
položaj glede Pariškega kluba (npr. morebitno izvzetje),
the global amount of the expected foreign earnings in relation to the total amount of the credit.
morebitni vpliv tveganj države, razen transfernega tveganja,
Impact on the MPR
zaščito pred tveganji države, v kateri se nahaja račun,
The application of this country risk mitigation technique may result in a one category improvement in the applicable country risk classification for the transaction, except for transactions in Country Risk Category 1.
pogodbe s strankami, vključno z njihovo naravo in trajanjem, ter
Local Currency Financing
skupni znesek pričakovanih tujih dohodkov glede na skupni znesek kredita.
Contract and financing negotiated in convertible and available local, other than hard, currencies and financed locally that eliminates or mitigates the transfer risk.
Učinek na MPR
The primary debt obligation in local currency would, in principle, not be affected by the occurrence of the first two country credit risks.
Z uporabo te tehnike za zmanjševanje tveganja države se lahko pri veljavnem razvrščanju držav glede na tveganje za transakcije doseže izboljšanje za eno kategorijo, razen za transakcije iz kategorije tveganja države 1.
The ECA liability and claims payment or the payment to the Direct Lender are expressed/made throughout in local currency.
Financiranje v lokalni valuti
The ECA is normally not exposed to the transfer risk.
Pogajanja o pogodbi in financiranju potekajo v konvertibilni in razpoložljivi lokalni valuti, razen v trdnih valutah, pri čemer se financiranje izvaja na lokalni ravni, da se izključi ali zmanjša transferno tveganje.
In the normal course of events, there will be no requirement for local currency deposits to be converted into hard currency.
Pojav prvih dveh kreditnih tveganj države načeloma ne bi vplival na primarne dolžniške obveznosti v lokalni valuti.
The borrower's repayment in his own currency and in his own country is a valid discharge of the loan obligation.
nadomestilo škode ali izplačilo zavarovalnine ECA ali plačilo neposrednemu posojilodajalcu se opravi v lokalni valuti,
If a borrower's income is in local currency the borrower is protected against adverse exchange rate movements.
ECA običajno ni izpostavljen transfernemu tveganju,
Transfer regulations in the borrower's country should not affect the borrower's repayment obligations, which would remain in local currency.
ob običajnem poteku dogodkov se ne zahteva, da se depoziti v lokalni valuti pretvorijo v trdno valuto,
(A Direct Lender would however carry this exposure.)
devizni predpisi v državi posojilojemalca ne smejo vplivati na posojilojemalčeve obveznosti odplačevanja, ki bi ostale v lokalni valuti.
The application of this risk mitigation technique may result in a discount of no more than 20 % to the country credit risk portion of the MPR (i.e. a local currency factor [LCF] with a value of no more than 0,2).
Tehnika se uporablja selektivno, in sicer pri konvertibilnih in transferabilnih valutah držav z zdravim gospodarstvom.
The following table provides definitions of the buyer risk credit enhancements that may be applied, along with their maximum impact on the applicable MPRs through the CEF in the MPR formula.
Z uporabo te tehnike za zmanjševanje tveganja se lahko doseže največ 20-odstotna diskontna stopnja za delež kreditnega tveganja države MPR (tj. vrednost dejavnika lokalne valute (LCF) je največ 0,2).
Credit Enhancement
Naslednja preglednica vključuje opredelitve izboljšav kreditnega tveganja kupca, ki se lahko uporabljajo, skupaj z njihovim največjim vplivom na veljavne MPR z uporabo CEF v formuli MPR.
Definition
Kreditna izboljšava
Maximum CEF (Country Risk Category 1-7)
Opredelitev
Maximum CEF (Market Benchmark)
Največji CEF (kategorija tveganja države 1–7)
In the event a borrower has contracts with strong off-takers, whether offshore or local, a legally enforceable assignment of the contract provides rights to enforce the borrower's contracts and/or make decisions under major contracts in the place of the borrower after a default under the loan.
Največji CEF (tržna referenčna vrednost)
A direct agreement with a third party in a transaction (a local government agency in a mining or energy transaction) allows Lenders to approach a government to seek remedies for expropriation or other violation of contractual obligations related to the transaction.
Če ima posojilojemalec sklenjene pogodbe z vplivnimi tujimi ali lokalnimi odjemalci, se s pravno izvršljivim odstopom pogodbe zagotovijo pravice do izvajanja pogodb posojilojemalca in/ali sprejemanje odločitev v okviru večjih pogodb namesto posojilojemalca po neizpolnjevanju obveznosti v zvezi s posojilom.
An existing company operating in a difficult market or sector may have receivables related to the sale of production with a company or companies located in a more stable environment.
Neposredni sporazum s tretjo stranjo v transakciji (lokalno vladno agencijo pri transakciji v zvezi z rudarstvom ali energetiko) omogoča posojilodajalcem, da vladi predlagajo uveljavljanje pravnih sredstev za razlastitev ali drugo kršitev pogodbenih obveznosti, povezanih s transakcijo.
Receivables would generally be in a hard currency but may not be the subject of a specific contractual relationship.
Terjatve obstoječe družbe, ki deluje v težkih tržnih ali sektorskih razmerah, so lahko povezane s prodajo proizvodov družbe ali družb v stabilnejšem okolju.
Assignment of these receivables could provide asset security in the accounts of the Borrower, giving the Lender a preferential treatment in the cash flow generated by the Borrower.
Terjatve se običajno izvršujejo v trdni valuti, vendar v zvezi z njimi ne sme biti sklenjeno posebno pogodbeno razmerje.
N/A
Z odstopom teh terjatev bi se lahko zagotovila premoženjska varščina za račune posojilojemalca, tako da bi bili posojilodajalci prednostno obravnavani pri denarnih tokovih, ki jih ustvarijo posojilojemalci.
Control of an asset shown by:
n. r.
mortgage on very mobile and valuable piece of property and
Nadzor nad premoženjem, razviden iz:
property that has entire value in itself.
hipoteke na zelo premično in vredno premoženje ter
An asset based security is one that can be reacquired with relative ease such as a locomotive, medical equipment or construction equipment.
lastnine, ki sama predstavlja celotno vrednost.
In valuing such a security, the ECA should take into consideration the legal ease of recovery.
Zavarovanje s premoženjskimi varščinami je mogoče razmeroma preprosto ponovno pridobiti, na primer lokomotivo, medicinsko opremo ali gradbeno opremo.
In other words, there is more value when the security interest in the asset is perfected under an established legal regime and less value where the legal ability to recover the asset is questionable.
Pri vrednotenju takega zavarovanja mora ECA upoštevati pravno izvršljivost izterjav.
The precise value of an asset-based security is set by the market, with the relevant “market” being deeper than a local market because the asset can be moved to another jurisdiction.
Z drugimi besedami, vrednost je večja, če so pravice iz zavarovanja na premoženju izpopolnjene v okviru veljavne pravne ureditve, in manjša, če pravna sposobnost za izterjavo premoženja ni zanesljiva.
NOTE: The application of an asset based security credit enhancement applies to the buyer risk, where the asset based security is held internally within the country in which the transaction is domiciled.
Natančna vrednost zavarovanja s premoženjskimi varščinami je določena glede na trg, pri čemer je zadevni ‚trg‘ obsežnejši od lokalnega trga, ker je mogoče premoženje premestiti na območje druge pristojnosti.
A fixed asset security is most typically component equipment which may be constrained by its physicality such as turbine or manufacturing machinery integrated into an assembly line.
OPOMBA: Uporaba kreditne izboljšave zavarovanja s premoženjskimi varščinami velja za tveganje kupca, če je zavarovanje s premoženjskimi varščinami izvršeno znotraj države, v kateri je izvedena transakcija.
The intent and value of the fixed asset security is to provide the ECA with more leverage over the use of the asset in recouping losses in the event of default.
Fiksno premoženjsko zavarovanje je najpogosteje sestavni del opreme, ki je lahko omejen zaradi fizičnih lastnosti, na primer turbina ali stroj, ki je del tekočega traka.
The value of a fixed asset security varies dependent on economic, legal, market and other factors.
Namen in vrednost fiksnega premoženjskega zavarovanja je zagotoviti ECA večji finančni vzvod v zvezi z uporabo premoženja pri nadomestitvi izgub v primeru neizpolnjevanja obveznosti.
Escrow Account
Vrednost fiksnega premoženjskega zavarovanja se razlikuje glede na gospodarske, pravne, tržne in druge dejavnike.
Escrow accounts involve debt service reserve accounts held as security for the lenders or other forms of cash receivable accounts held as security for the lenders by a party not controlled or sharing common ownership with the buyer/obligor.
Založni račun
The escrowed amount must be deposited or escrowed in advance.
Založni računi vključujejo račune rezerv za servisiranje dolga, ki služijo kot zavarovanje za posojilodajalce, ali druge oblike gotovinskih računov terjatev, ki služijo kot zavarovanje za posojilodajalce in s katerimi upravlja stranka, ki ni pod nadzorom kupca/dolžnika in si z njim ne deli skupnega lastništva.
The value of such security is nearly always 100 % of the nominal amount in such cash accounts.
Znesek depozita je treba vložiti ali založiti vnaprej.
Permits greater control over use of cash, ensures that debt is serviced before discretionary spending.
Vrednost takega zavarovanja je skoraj vedno 100 % nominalnega zneska na takih gotovinskih računih.
NOTE: The application of an escrow account credit enhancement applies to the buyer risk, where the escrow account is held internally within the country in which the transaction is domiciled.
Omogoča večji nadzor nad uporabo gotovine in zagotavlja servisiranje dolga pred diskrecijsko porabo.
Cash security significantly diminishes the risk of default for the covered instalments.
OPOMBA: Uporaba kreditne izboljšave založnega računa velja za tveganje kupca, če je založni račun odprt znotraj države, v kateri je izvedena transakcija.
escrowed amount as % of credit up to a maximum of 0,10
Gotovinska varščina bistveno zmanjšuje tveganje neizpolnjevanja obveznosti v zvezi z zadevnimi obroki.
ANNEX XIV
Založni račun kot odstotek kredita do največ 0,10
CHECKLIST OF DEVELOPMENTAL QUALITY
PRILOGA XIV
CHECKLIST OF DEVELOPMENTAL QUALITY OF AID-FINANCED PROJECTS
KONTROLNI SEZNAM RAZVOJNE KAKOVOSTI KONTROLNI SEZNAM
A number of criteria have been developed in recent years by the DAC to ensure that projects in developing countries that are financed totally or in part by Official Development Assistance (ODA) contribute to development.
RAZVOJNE KAKOVOSTI PROJEKTOV, FINANCIRANIH S POMOČJO
They are essentially contained in the:
V zadnjih letih je DAC razvil več meril, s katerimi naj bi zagotovil, da bodo projekti v državah v razvoju, ki se v celoti ali delno financirajo z uradno razvojno pomočjo (URP), prispevali k razvoju.
DAC Principles for Project Appraisal, 1988,
Ta merila so zlasti vključena v:
DAC Guiding Principles for Associated Financing and Tied and Partially Untied Official Development Assistance, 1987, and
načela DAC za ocenitev projekta (DAC Principles for Project Appraisal), 1988,
Good Procurement Practices for Official Development Assistance, 1986.
vodilna načela DAC za mešano financiranje ter vezano in delno nevezano uradno razvojno pomoč (DAC Guiding Principles for Associated Financing and Tied and Partially Untied Official Development Assistance), 1987, ter
CONSISTENCY OF THE PROJECT WITH THE RECIPIENT COUNTRY'S OVERALL INVESTMENT PRIORITIES (PROJECT SELECTION)
kodeks dobrega ravnanja pri naročanju za uradno razvojno pomoč (Good Procurement Practies for Official Development Assistance), 1986.
Is the project part of investment and public expenditure programmes already approved by the central financial and planning authorities of the recipient country?
SKLADNOST PROJEKTA S SPLOŠNIMI PREDNOSTNIMI NALOGAMI DRŽAVE PREJEMNICE NA PODROČJU NALOŽB (IZBIRA PROJEKTA)
(Specify policy document mentioning the project, e.g. public investment programme of the recipient country.)
Ali je projekt del naložbenih programov in programov javne porabe, ki so jih že odobrili osrednji finančni in načrtovalni organi države prejemnice?
Is the project being co-financed with an international development finance institution?
(Navedite programski dokument, v katerem je naveden projekt, npr. program javnih naložb države prejemnice).
Does evidence exist that the project has been considered and rejected by an international development finance institution or another DAC Member on grounds of low developmental priority?
Ali projekt sofinancira mednarodna ustanova za financiranje razvoja?
In the case of a private sector project, has it been approved by the government of the recipient country?
Ali obstajajo dokazi, da je projekt preučila mednarodna ustanova za financiranje razvoja ali druga članica DAC in ga zavrnila zaradi nizke razvojne prednostne razvrstitve?
Is the project covered by an intergovernmental agreement providing for a broader range of aid activities by the donor in the recipient country?
Ali je projekt iz zasebnega sektorja odobrila vlada države prejemnice?
PROJECT PREPARATION AND APPRAISAL
Ali je projekt vključen v medvladni sporazum, ki zagotavlja širši razpon dejavnosti pomoči donatorke v državi prejemnici?
Has the project been prepared, designed and appraised against a set of standards and criteria broadly consistent with the DAC Principles for Project Appraisal (PPA)?
PRIPRAVA IN OCENITEV PROJEKTA