Providing EPIII and IFC PS Training to Nordic Institutions

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On December 19, 2013, Prizma successfully delivered a 1-day course on the updated Equator Principles (EPIII) and IFC Performance Standards to about 40 representatives from DNB, Norway’s largest financial services group, and Export Credit Norway and GIEK, which are Norway’s export finance and guarantee agencies. - What are the challenges you face with the emergence of the updated Equator Principles III and elements you would have liked to hear about in a short course? (Shortlink:

Following EPIII courses hosted by Parsons Brinkerhoff (London) and TD Bank (Toronto), Prizma was selected by DNB to develop and deliver a tailored training course in Oslo. The elements of the course included morning modules targeting senior managers from across DNB, Export Credit Norway and GIEK. This was followed by afternoon modules which were focused on the challenges and applications of Equator Principles and IFC Performance Standards using a variety of case studies. These ranged from wind farm to off-shore oil and gas developments.

A summary of the evaluations is presented further below. With a diverse group of course participants, ranging from novice to experts, and investment banker to export guarantee provider, interpretation of the evaluation provided is a bit tricky. But enough excuses. Below you can read the results of all evaluations returned by course participants by January 10th, 2014 (evaluation now closed).

Ranking of modules delivered to course participants

  1. Case studies and related discussions
  2. Context and overview
  3. Peer learning and networking
  4. IFC Performance Standards
  5. Equator Principles and changes
  6. Role of Independent Engineer
  7. Transitioning to EP3 and IFC PS (bankable ESIAs)

The competency rating of course presenters

  • Average 4.5 (out of maximum of 5)

Good investment of my time to attend event

  • Average 95 (maximum of 100)

I can recommend the course

  • Average 95 (maximum of 100)

The most interesting topics for me were:

  • Case studies and examples discussed by facilitators (x4)
  • Everything (x2)
  • General overview (x2)
  • Guidance on application of standards
  • Transitioning to EP3
  • Similarities and differences of IFC PS and EP3
  • How banks and ECAs use standards (differently)
  • Application of IFC PS to emerging markets and not high income OECD

I would have liked to hear more about:

  • More time for case studies (x 2)
  • Link/comparison with OECD Common Approaches
  • More on project-related corporate loans
  • Missing challenging case study on project related corporate loans
  • Processes at other financial institutions
  • Examples showing scaling of IFC PS to different projects/risks
  • Covenants and loan documentation
  • Application of IFC PS regardless of country designation
  • Case study outside of EPII (EP2) but within scope of EPIII (EP3)
  • How to structure and write a good EP memo
  • More clarity on how ECAs apply standards (Europe vs Noth America)
  • Less intro, go right into what is different

What are the challenges you face with the emergence of the updated Equator Principles? What would have been some of the issues you would have liked to discuss during a 1-day course?