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.

Economies in the regions covered by the EBRD have experienced many political and economic crises, but the scale and global effects of the coronavirus pandemic are unique. We are proposing a number of financial restructuring and insolvency policy initiatives for the EBRD regions to complement the emergency financial assistance provided by national governments and the international community.

Policy initiatives are divided into three main areas:

  • immediate initiatives to support new financing and co-financing by IFIs and national banks through secured transaction and insolvency reforms that ring-fence Covid-19 and other new financing
  • short-term initiatives to help SMEs through the challenging period of financial and operational distress caused by Covid-19 with advisory online information platforms and digitalisation support
  • medium to long-term initiatives to strengthen (pre)insolvency restructuring procedures and  improve the efficiency of all insolvency and enforcement procedures for all stakeholders.

Read the Discussion Paper below on financial restructuring and insolvency policy initiatives.