London, United Kingdom / CEO-Insight Magazine / September 16, 2020 — Elite Capital & Co. Limited (“ECC”) has devised a financing program for government that allows BOT and BOO projects to be implemented without burdening the respective country with sovereign debt, which was launched on 15th of January 2020 at a time when the world was collapsing economically due to the Coronavirus disaster.
Four questions were addressed to the Chairman and the President of the Elite Capital & Co. Limited on the occasion of launching the “Government Future Financing 2030 Program”.
CEO Insight: What is the essence of the Government Future Financing 2030 Program?
ECC: This is a program of financial injection for BOT and BOO projects through Government which does not involve burdening the country with sovereign debt for Rail, Energy Plants, Oil Refineries, Marine Ships, Hotels, Sea Ports, Agriculture, etc. We cannot undertake construction projects that have no technical content like roads, housing, etc.
Under the new program, Elite Capital & Co. and its governmental portfolios sign agreements with the respective Government to support the country’s BOT and BOO National Projects, by providing 80% of the financing needs of those National Projects without burdening the Ministry of Finance with sovereign Guarantees. In return the Government announces the projects on a bidding basis by inviting all local companies and international consortia, to bid for the 20% remaining funding, construction and project operations, thereby ensuring fairness, equality and transparency according to the rules, regulations and laws applicable in the respective country.
“We do not have any direct competitors, because our unique and flexible approach with our customers ensures we always achieve their goals”
CEO Insight: What is Elite Capital Company’s ambition at the present time?
ECC: There are no limits to ECC’s ambition. The entire team aspires for the company to be the largest lender in the world during the coming few years. We do not have any direct competitors, because our unique and flexible approach with our customers ensures we always achieve their goals. The present lenders in the global markets were impacted by the negative effects of the present financial crisis and, as a result, they now adopt stricter attitudes toward their customers. This has provided opportunities for ECC to apply our knowledge and resources to those customers and their projects.
CEO Insight: How has Elite navigated the turbulent world of financing in recent years 2019 and 2020, when many banks have been forced to rein in their lending?
ECC: History repeats itself, for Elite Capital & Co., the history is similar between the years 2020 and 2012. Certain unusual circumstances have helped ECC to create our flexible approach to funding. The most outstanding among those exceptional circumstances is that ECC was incorporated and emerged at the start of the present global financial crisis in 2012, when the banks and the world’s leading lenders started to face the crisis, thereby reducing their flexibility in granting loans to borrowers. Because ECC was established at that point in time, it did not suffer the difficulties that other lenders are now facing. Quite to the contrary, ECC benefited from the situation during that period by adapting to the situation and establishing a flexible system of its own that suited the prevailing circumstances.
CEO Insight: Is the program available to everyone?
ECC: This program will be devoted exclusively to governments and rated banks, and the private sector will only be allowed to work through them. Government Future Financing 2030 is an exclusive program for Elite Capital & Co. and the most powerful financial program in the finance market which we are glad to launch.
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Dr. Faisal Khazaal
الدكتور فيصل خزعل