Projects Financed

Operation Summary

Operation Name:

Europe Virgin Fund

Identification Code:

OP/10/0805
Total Operation Cost:72.000.000  USD
Maturity:

96 months

Operation Status:
BSTDB Approved AmountApproval Date
12.025.000  USD29 Apr 2011
BSTDB Signed AmountSigned Date
12.000.000  USD29 Jul 2011
Status: Active
Description and Purpose
of the Operation:

The Bank will invest up to USD 15 million as capital commitment and up to USD 25,000 as equalization premium in the Europe Virgin Fund (the "Fund"). The investment will support the Fund to provide private equity financing to a wide range of private sector businesses with primary operations in Ukraine, Moldova and Belarus.

Countries of Operation:
Moldova50,00 %
Ukraine50,00 %
Financial Product:

Equity Investments

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Europe Virgin Fund L.P. is the new investment fund, which has had its First Closing in August 2010. The Fund has been established with participation of three anchor institutional investors, EBRD, Dragon Capital and SIFEM.

Co-Financiers/Participants:

EBRD, SIFEM, Dragon Capital

Guarantors/Sponsors:

Dragon Capital

Developmental and Regional Cooperation Impact:

support the capital market development in Ukraine and Moldova; support capital access for private SMEs in conditions when capital markets are very restrictive and banks prefer to lend short-term; provide financing to the SMEs with which the Bank is not able to work directly; facilitate transfer of high standards of corporate governance and integrity in portfolio companies.

Environmental Classification and Impact (summary):

Screened as FI category. Environmental assessment showed that the Fund has developed investment guidelines which also specify the sectors it will not enter, and which are compliant with the BSTDB Negative List of Products. In addition it will not enter into metallurgy, extraction industries, large infrastructure, and conventional energy generation.

Operation Leader:

Financial Institutions II

E-mail:

fi2@bstdb.org


As of 31 Oct 2017