The Board decides either to accept a media organization as an investment candidate or to reject it based on an analysis of its journalistic content, opinions collected from media support organizations and other reliable civil society representatives with local knowledge, site visits by PPG Board members or staff, interviews with the applicant’s owners and editorial leadership, and a careful review to confirm the company’s independent ownership.
Once approved by the Board, the applicant must prepare a detailed business plan. The process is monitored by PPG financial experts and consists of several reviews, revisions and re-drafting. If it proves necessary or desirable, PPG provides support for the candidate in business-plan writing. The business plan consists of two parts: a narrative description of the investment project, including its purpose, process of implementation and expected results; and a detailed financial analysis of the company’s current condition and foreseeable future trends in its business development.
Investment Committee Decision
Once the documentation is complete and the business plan is fully developed, the applicant defends its project and business plan in front of an PPGInvestment Committee. The Investment Committee assesses the financial viability of the applicant’s proposal. The Investment Committee has the right to approve or reject a financing request, or send it back to PPG staff with a request for additional information or clarification. If the Investment Committee approves the application, it decides on the amount, interest rate and conditions of the loan or other financing.