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Title: EBRD Covid-19 Response: Financial Restructuring and Insolvency Discussion Paper

Author: Catherine Bridge Zoller, Legal Transition Team, EBRD

Language: English

Type: Document

Nature: Guidelines, Other PPP Reference

Published: May 1, 2020

Region: Global, Europe and Central Asia (ECA)

Country: Global / Non-Specific

Topic: Covid-19 and PPPs, Legal Framework, Financing and Risk Mitigation

Keywords: PPPs by Topic *, Covid-19 **, Force majeure/act of god

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Document Summary:

Financial Restructuring and Insolvency Discussion Paper

Document Details:

The Covid-19 crisis has had a major impact on economic activity around the globe. Unlike the 2008-9 financial crisis, which originated in excessive bank lending, countries are dealing with a global health pandemic that has caused a crisis in the economy and is expected to spread to banks and the financial markets. Economies in the regions covered by the European Bank for Reconstruction and Development (EBRD)2 have experienced numerous political and economic crises before, but there is widespread agreement that the scale of the Covid-19 crisis and its global effects are unique. Many national governments and international organisations, including the EBRD, the European Union, the European Investment Bank, the International Monetary Fund (IMF) and the World Bank Group, have announced Covid-19 emergency financial assistance packages. More

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