Frontex - Debt 2 (EBRD-48960)

Countries
  • Bulgaria
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
Approved
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
Jul 5, 2017
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.
Borrower
FRONTEX INTERNATIONAL EAD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.40 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 EUR 3 million
Converted using 2017-07-05 exchange rate.
Loan Amount (USD)
$ 3.40 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 3 million
Converted using 2017-07-05 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 22, 2018

Disclosed by Bank Jun 2, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EBRD website, this project provides finance to Frontex International in support of their expansion of NPL purchases from financial institutions, telecoms, other utility companies and other Bulgarian originators. It will allow the company to extend the maturity of and diversify the sources of its funding base. The project will: 

1. support Frontex in further expanding its NPL purchases from financial institutions in Bulgaria, thereby contributing to the development of a strong and efficient NPL market, facilitating new lending to the real economy by the selling FIs and allowing both corporate/SME and retail debtors to become economically active again and;
2. introduce a new borrower asset class to international investors.

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

Project Contact: Gabriela Dimitrova
Email Address: office@frontex.bg
Telephone No.: +359 2 439 04 63
Website: http://frontex.bg/en/business-partners/about-the-company

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

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.