Independents and service companies that have gone international may find it difficult to attract capital to fund projects in potentially risky locales. Non-traditional sources of capital-from multilateral and bilateral agencies-can help fill the gap. However, money-seekers need to keep in mind that these agencies are not commercial banks, and different techniques are required to navigate the system, according to attorneys with international law firm Chadbourne & Parke LLP, which recently hosted a seminar in Houston on multilateral financing for international E&P. "We understand how these agencies make decisions," said Peter Fitzgerald, a Chadbourne & Parke attorney who used to work at the Overseas Private Investment Corp. (OPIC). "These are not banks." These agencies include the likes of OPIC, which helps U.S. businesses invest overseas; The Export-Import Bank of the United States, which assists in financing the export of U.S. goods and services to international markets; and the International Finance Corp., which promotes private-sector investment in developing countries as a way to reduce poverty and improve people's lives. The top concerns of these agencies aren't necessarily financial. They are quite concerned with issues surrounding the environment, worker rights, human rights and corrupt practices. It's vital that they like you and your project; throwing around a tough attitude just won't work with them, Fitzgerald said. Unlike some bankers, the people who work at these agencies may not be very competitive, he added. Fitzgerald offered these notes to remember when dealing with these agencies: • Spend time getting to know the agencies and personnel. Visit them. Get to know their culture. • Agencies attract two types of workers: ambitious people, and those who are more advanced in their careers and want to slow down. The type of person who gets assigned to your deal team greatly affects your project. • If you get a weak team, don't despair. Hire an outside lawyer with a long history with the agency. • Avoid confrontation with agency folks. You want them to like you and your project. • Use position papers if you're dealing with an inexperienced lawyer or financier on the other side of the table. • Go over the head of your deal team only if you really have to do. Even then, do it sparingly. • Don't try to negotiate any changes to their forms. • Manage the loan documentation process intensely. Make up task lists each week, and have a closing checklist. • Don't go home when you're making progress, especially if you've been lucky enough to gather representatives from multiple agencies in the same room. • Keep the number of agencies you're working with to a minimum. If you can't keep it to one, have everyone agree to the inter-creditor principals up front.

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