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The EBRD project cycle consists of the following stages:
Concept Review – The EBRD’s Operations Committee (OpsCom) approves the
project concept and overall structure, including proposed financing structure
and supporting obligations. At this stage, the EBRD and the client sign a
mandate letter, which outlines the project plan, development expenses and
responsibilities.
Final Review – Once the basic business deal (including a signed term
sheet) has been negotiated and all investigations have been substantially
completed, the project receives a Final Review by OpsCom.
Board Review – The EBRD President and operation team present the
project to the Board of Directors for approval.
Signing – The EBRD and the client sign the deal and it becomes legally
binding.
Disbursements – Once repayment conditions are agreed and the Bank’s
conditions met, the funds are transferred from the Bank’s account to the
client’s account.
Repayments – The client repays the loan amount to the EBRD under an
agreed schedule.
Sale of equity – The Bank sells its equity investments on a
non-recourse basis.
Final maturity – The final loan amount is due for repayment to the Bank.
Completion – The loan has been fully repaid and/or the EBRD’s equity
investment divested.
Operations Committee
The Operations Committee consists of senior management from Banking, Finance,
Office of the General Counsel, Office of the Chief Economist, and Evaluation
and Operational and Environmental Support.
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