Horizon Innovation Financing Facility (EBRD-48626)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 11, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 55.67 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 50
Converted using 2019-12-11 exchange rate.
Project Cost (USD)
$ 55.67 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 50
Converted using 2019-12-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 21, 2020

Disclosed by Bank Nov 6, 2019


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Project Description

According to the Bank's website, this project finances the establishment of the Horizon Innovation Financing Facility; a framework for providing senior loans to participating financial institutions in Romania for on-lending to innovative micro, small and medium-sized enterprises in Romania. 

This project also entails technical cooperation that is comprised of a technical assistance package to participating financial institutions and eligible beneficiaries as well as grants to eligible beneficiaries in the form of investment incentives for successful completion of their innovative projects. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

No contact information available at time of writing. 

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.