-------- Forwarded Message --------

Subject:	Re: EG Financial Reserves
Date:	Fri, 16 Aug 2019 09:51:24 -0400
From:	Nedko Krumov <nedko.krumov@egmont.org>
To:

** Letter on behalf of the Regional Representatives - Mr. Daniel Thelesklaf and Mr. Philippe Boisbouvier

Dear EUROPE II members,

We hope this letter finds you well.

Please be informed that during the last Egmont Committee meeting in the Hague, EC took a decision to task the specifically created Sub-group on use of the Egmont Group financial reserves to collect more ideas from all EG members for the use of the financial reserves.

The main objective of this second phase of collection of ideas is to provide with more and well substantiated proposals which can be prioritized and subsequently financed from the reserves. One very important requirement for all ideas is that they should lead to non-recurring costs and duplication in the financing should be avoided.

In order to provide the necessary information, you are kindly requested to use the attached template and include there the following information:

• Detailed description of the benefits for the EG with a special focus on the implementation of the strategic plan (who? how? how much?) - the focus here should be dedicated to a more precise estimation of the targeted audience and how are these benefits assisting the targeted group, or the EG in general, in order to implement the strategic objectives and focus provided in the EG Strategic Plan.

• Estimation of the non-recurring costs and brief substantiation – this is very important information as it will allow Egmont Group to prioritise the ideas and respectively to more effectively allocate the financial reserves. In many instances the costs for the ideas cannot be identified, however, at least an estimation (as precise as possible) should be made. The EC agreed that only non-recurring cost will be accepted. However, there could be some recurring element as long as it is not substantial part of the final budget and it does not lead to expenses that should be otherwise budgeted within the EG annual budget.

• Possible side-effects coming with the implementation of the proposal (e.g. recurring costs for maintenance, internal/external effects on established procedures or systems).

• What is – beside money – necessary to implement the proposal and raise the benefits described – the focus here is on the necessary resources for the implementation of the idea, including involvement of third parties, such as contractors, ECOFEL, international partners, etc. All roles should be specifically specified and described.

• Estimation of the implementation period – this is very important information which can provide with an overview of the implementation period but will also allow further prioritization of the ideas. If the idea envisages multiple phases, there should be an estimated period provided for each phase.

• Any additional information which will help the sub-group to analyze the ideas and provide the HoFIU with the ability to take an informed decision.

Please be informed that only well substantiated ideas will be considered by the Sub-group.

Based on the deadlines decided by the EC, you are kindly requested to provide your feedback by September 1st, 2019.

We would like to remind you that this is a great opportunity to finance projects which would serve the EG Strategic Objectives and will have benefit for the membership.

Thank you very much in advance.

Kind regards,

EGS

*** Letter on behalf of the Regional Reps - Mrs. Lindsey Bermingham and Mr. Daniel Thelesklaf

Dear Europe II members,

 

We trust you are well.

The Egmont Committee had a consistent discussions in Egypt regarding the investment of the Egmont Group financial reserves. For the purposes of collection of the views of the Egmont Group in this regard, the EC has established a specific Sub-Group on Financial Reserves.

To ensure that the deadline of presenting a proposal to the HoFIU during the Plenary in The Hague is met, the Committee agreed on an accelerated timeline which entails a first collection of ideas, within this week - by Thursday, May 10th. For this purpose, the EC Sub-Group on Financial Reserves developed the attached form, which you are kindly invited to complete and send to the EGS at nedko.krumov@egmont.org.

Please note that at this stage any idea is welcomed so please feel free to think innovatively and outside the box. The only requirement is to focus your brainstorming exercise on non-recurring (one time) expenditures only, as this is the target for the current investments.

Please copy the attached template as often as necessary and submit one filled in form per proposal. All text marked in red should be substituted as appropriate. Taking into account the very limited amount of time available, please try to find the best balance between a comprehensive proposal and the need to submit ideas which need further refinement. If you cannot follow the form, we will be grateful if you can just provide us with any ideas.

Thank you very much for your valuable support.

 

Best regards,

EGS