Hungarian SRP - framework

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 4371

Status Complete

Location

Hungary

Business Sector

Equity Funds

Notice Type

Private

Sub-projects

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 4371

Status Complete

Location

Hungary

Business Sector

Equity Funds

Notice Type

Private

Environmental Category

Approval Date

17 Dec 1996

Disclosure date

25 Nov 1996

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The Hungarian Special Restructuring Programme (SRP) will undertake equity investments to support the restructuring and turnaround of viable under-performing companies. The Hungarian SRP will restructure medium-sized companies by providing higher risk equity finance, hands-on turnaround management expertise, technical cooperation support, and a framework to promote debt and operational restructuring.

Transition Impact

The Hungarian SRP will provide know-how transfer, improved corporate governance, and higher risk equity capital. This will support banks in their efforts to restructure problem loans.

The Client

The Hungarian SRP will invest exclusively in viable under-performing medium-sized companies which have limited ability to raise capital. This will include companies in the work-out portfolios of local banks and recent management buy-outs that have significantly under-performed since privatisation. The operation will be managed by a German turnaround specialist, Sandtner Hamilton & Management GmbH.

EBRD Finance

Up to ECU 30 million of early-stage equity to be invested in a portfolio of 10 to 15 Hungarian companies through a managed account facility.

Project Cost

Up to ECU 30 million.

Environmental Impact

In this project the manager will be required to adopt and implement the Bank's Environmental Procedures for Funds.

All environmental studies will involve a comparison of the environmental and health and safety standards of the investee companies with Hungarian and EU standards. Environmental Action Plans will need to include measures required to achieve compliance with these standards within a timeframe satisfactory to the Bank.

Technical Cooperation

The Hungarian SRP will be supported by technical cooperation funds of up to ECU 5.4 million.

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

General enquiries

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Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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