VCIP-VD (EBRD-52407)

Regions
  • Europe and Central Asia
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
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
Mar 10, 2021
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
European Bank for Reconstruction and Development
The holder of the loan, grant, or other investment.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 120.36 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 100
Converted using 2021-02-02 exchange rate.
Project Cost (USD)
$ 144.44 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 120
Converted using 2021-02-02 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 13, 2021

Disclosed by Bank Feb 2, 2021


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Project Description

According to the bank website, The EBRD aims to invest in venture equity-backed growth-stage technology companies via a venture debt instrument with an investment size of up to EUR10 million in the Bank's countries of operations through its Venture Capital Investment Programme - Venture Debt (VCIP-VD, which will be a new instrument of EBRD's existing programme, VCIP, and is a dedicated framework facility of EUR120 million). Investments will target innovative and high growth small and medium-sized enterprises with proven business models and demonstrated revenue traction.

The introduction of venture debt extends the EBRD's venture product offering beyond equity and will contribute to addressing the market gap in growth-stage venture financing in the EBRD regions.

VCIP-VD objectives are to i) support the scaling-up of innovative technology-based businesses and ii) develop the venture debt market in the regions where access to growth-stage venture equity capital financing is limited and venture debt is largely unavailable.

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

Bakhrom Ibragimov
02073386000

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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