The EBRD is working on a number of debt restructuring and insolvency initiatives in response to the coronavirus pandemic. Given the global scale of the crisis, businesses around the world have experienced an interruption in economic activity that may continue into 2021.
Many businesses will need to restructure both operationally and financially, while others may even cease to be viable. Ensuring that this does not translate into insolvent liquidation procedures for a majority of businesses and further economic damage is one of our key priorities.
The assessment will focus on all countries where the EBRD invests. However for benchmarking purposes, the consultation will also be open to other countries.
To maximise the effectiveness of the initiative, the EBRD is working with UNCITRAL, the International Development Law Organization (IDLO), the European Commission’s Directorate-General for Structural Reform Support (DG Reform), INSOL Europe, and INSOL International.