The European Bank for Reconstruction and Development (EBRD) is partnering with PrivatBank and Raiffeisen Bank Ukraine on a mechanism that will allow war-damaged borrowers to receive partial debt relief.
It is the first instrument of its kind piloted by the institution since Russia’s full-scale invasion began, reflecting the scarcity of tools covering war risks despite a flourishing business climate in Ukraine.
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The Enterprise Security Enhancement (ESE), launched on May 11, operates through the EBRD’s existing portfolio risk-sharing (PRS) facilities with the two banks. If a borrower’s fixed assets – financed through a loan covered by a PRS facility…