On 1 September, the European Bank for Reconstruction and Development (EBRD) launched an assessment to help address the expected increase in businesses needing restructuring after the COVID-19 pandemic.
The survey will provide an up-to-date map of restructuring frameworks across the EBRD regions in Europe, Asia and Africa. It aims to provide an overview of the options within pre-insolvency and insolvency frameworks across the economies where the Bank engages.
Due to the coronavirus crisis, many businesses around the world have experienced an interruption in economic activity that may continue in 2021.
The assessment will also be benchmarked against international best practices to provide a comparative tool for development institutions, governments and civil society to gauge the quality and effectiveness of a country’s insolvency laws.
To make the assessment as effective as possible, the EBRD is supported by several international organisations. It also cooperates with the European Commission and the Investment Councils, which the EBRD helped establish in several countries, including Armenia, Belarus, Georgia, the Republic of Moldova and Ukraine.
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