NPL Resolution Framework (EBRD-49243)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Cyprus
  • Greece
  • Turkey
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
Nov 1, 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.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 355.68 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 300
Converted using 2017-09-25 exchange rate.
Project Cost (USD)
$ 355.68 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 300
Converted using 2017-09-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 17, 2018

Disclosed by Bank Sep 25, 2017


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Project Description

This project provides financing to support investments in providers of non-performing loans, and non-performing loan portfolios sold by financial institutions in Central and South-Eastern Europe, Greece, Cyprus, and Turkey.

The project aims to support the resolution of non-performing loans in the region. Non-performing loans are loans where scheduled payments have not been made for a set period of time. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

The project will make minority investments in the following:

  • Non-performing loan servicers established for the purpose of servicing these types of loans
  • Non-performing loan co-investment facilities in the form of on and off-shore special purpose vehicles, established for the purpose of purchasing non-performing loan portfolios sold by financial institutions in the region
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.