According to bank documents, this is a follow-on investment in Basharsoft as part of Venture Capital Investment Programme (VCIP).
The Venture Capital Investment Programme targets innovative and high growth small and medium sized companies largely under-serviced by the very limited venture capital community in the region. Transition of the VCIP investments derives from supporting: (i) the "Competitive" quality through promoting young innovative companies in their growth, innovation, and skills enhancement (Qualified Co-investors are expected to transfer skills and know-how); and (ii) the "Resilient" quality through the development of the venture capital ecosystem and diversification of funding in a region where VC funds are not readily available.
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 email@example.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.