EBRD financing a Russian company

RUSSIA / FSU POLITICS - In Brief 08 Apr 2020 by Alex Teddy
On April 7 it was announced that European Bank of Reconstruction and Development (EBRD ) was financing a Russian company for the first time since 2014. This finance is from its emergency coronavirus support fund. EBRD has always kept an office in Moscow because it has a portfolio with some companies in Russia. EBRD was not allowed to make new investments but was permitted to retain pre-existing investments. EBRD is providing finance to Travelata which is a Russian travel aggregator. This is part of a EUR 1 billion coronavirus program. Existing EBRD companies are to be helped with liquidity. Short term debt has been restructured. The funding is not a new equity in the company. Some other Russian companies can get aid as part of the solidarity package which covers 38 emerging economies.

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