Earlybird Digital East Fund II (EBRD-50444)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Jordan
  • 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
U
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
Oct 15, 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.
Borrower
Digital East Fund II SCSP
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)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 33.02 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 30
Converted using 2019-11-27 exchange rate.
Project Cost (USD)
$ 165.08 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 150
Converted using 2019-11-27 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 26, 2020

Disclosed by Bank Sep 9, 2019


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Project Description

According to the Bank's website, this project finances an equity commitment of up to EUR 30 million in favour of the borrower. This will, in turn, finance equity investments in technology-focused micro, small and medium-sized enterprises. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • Earlybird Digital East Fund II -- Financial Intermediary
Contact Information

Cem Sertoglu
sertoglu@earlybird.com
+90 212 257 24 14
http://www.earlybird.com
Kucuk Bebek Caddesi, No:1 D:1 Bebek 34342, Besiktas/Istanbul

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.