This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Direct Finance Framework (EBRD-47420)

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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 8, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Mar 13, 2015

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
PROJECT DESCRIPTION The EBRD is considering streamlining its direct financing instruments for projects up to EUR 10 million by merging the following four facilities: 1) the Direct Investment Facility; 2) the Direct Lending Facility; 3) the Local Enterprise Facility; and 4) the Medium-Size Project Facilityunder the new Direct Finance Framework (DFF). The framework will provide the Bank with an integrated instrument covering all its countries of operations to meet the growing business needs of local small and medium-sized enterprises currently not sufficiently supported by other financing sources. The Bank's proceeds will be used for financing acquisitions, expansion and/or modernisation investments, efficiency improvements as well as working capital. TRANSITION IMPACT Transition impact is expected in the following key areas:Setting high standards of corporate governance, business conduct and financial reporting. Projects would help set standards ranging from financial management to energy efficiency or environmental standards. These standards would set an important example in the relevant industry or country. Demonstration of new products and processes of restructuring of local enterprises. This will help to increase competitive pressure in the market and encourage the wider adoption of modern production technologies or management practices. THE CLIENT Local private enterprises operating in all EBRD countries of operations. EBRD FINANCE EUR 250 million (for the 12 months following the date of Board approval) to provide a wide range of flexible financing instruments (equity, quasi-equity and debt financing) to local enterprises. PROJECT COST EUR 400 million (estimated). ENVIRONMENTAL AND SOCIAL CATEGORISATION, IMPACT, AND MITIGATION Sub-projects financed through this framework will be categorised and appraised on a case-by-case basis in accordance with the Bank's 2014 Environmental and Social Policy. Where the Bank is investing in projects or companies that present a potentially higher environmental and/or social risk, commensurate studies will be carried out with assistance from external consultants to fully understand all related liabilities and risks associated with a company's operations, as well as to develop and agree upon an environmental and social action plan as required. Further, the environmental and social due diligence undertaken on a case by case basis will look to identify and/or confirm potential environmental and social benefits to be realised through the delivery of the projects. Target borrowers/ investee companies will be required to comply with the Bank's Performance Requirements and provide the Bank with an annual report on environmental and social issues. Sub-projects financed through this framework are not subject to Board approval. PSDs will not be released on a project-by-project basis unless there are judged to be significant environmental or social issues. In such cases a PSD will be prepared and released including summary information on the sub-project's significant environmental or social issues and agreed mitigation measures. For "Category A" projects approved under this Framework a separate PSD will be prepared in any case. If a separate PSD is not required, the Framework PSD will be updated with information on sub-projects financed including basic information on the project name, location, sector and E&S category. TECHNICAL COOPERATION The Direct Finance Framework will continue benefiting from Technical Cooperation funds raised for the four facilities that it succeeds. COMPANY CONTACT Claudio
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
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 or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at

How it works

How it works