The coronavirus (Covid-19) pandemic is having a profound and deeply damaging impact on the countries where the EBRD works, posing enormous challenges for policymakers across all EBRD regions. Policy advice has always been a vital part of the EBRD’s toolbox to support governments and the private sector.
Covid-19 Response – Guidance for SME Survival and Continuity
The EBRD launched a new technical assistance project to provide SMEs in the economies where EBRD invests with necessary and
practical guidance on identifying the best course of action in circumstances of financial distress and business uncertainty, thereby building business resilience and ensuring continuity. This guidance will be tailored to businesses, particularly micro and small enterprises.
Covid-19 Response – Business Insolvency and Restructuring Policy Assistance
The new project will contribute to the EBRD Covid-19 policy response by focusing on the following initiatives:
• with a short term timeframe, to support new financing and co-financing, by international financial institutions and national banks, through secured transaction reforms that recognise the validity of intercreditor and security agent structures and ring-fence new financing and security from insolvency avoidance provisions (“New Financing Support”); and
• with a medium to longer term timeframe, to help businesses, particularly SMEs, through a challenging period of financial and operational distress by strengthening (pre)insolvency restructuring procedures and their implementation (“Financial Restructuring Support”).