Each project will receive an Investment Incentive (grant) of up to 15% upon successful implementation and verification project:

  • The calculation of the amount of Investment Incentives payable to the project and/or borrower will be conducted by the Verification Consultant (“VC”) and presented in the Verification Report.
  • The Investment Incentive payment is calculated as an equal to 15% of the lower of:
  • the eligible disbursed amount of the Loan, or
  • the eligible Investment Cost of the Project, excluding any amount of VAT payable in connection with the investment.

No Investment Incentive will be paid if any of the following occur:

  • a is Loan financed, in whole or in part, from repayments received from a Loan
  • a Loans is disbursed before the date of the Loan Agreement between EBRD and the Partner Bank
  • Loans for which the Loan agreement is executed after 1st May 2022
  • the implementation and completion of the relevant Project is not verified by the Verification Consultant on or before 1st September 2023
  • the Loan has been used for a Project that has benefitted, or is expected to benefit, from another grant
  • the Loan is repaid prior to Verification of the Project
  • the Investment Incentive has not been paid by EBRD to the Partner Bank on or before 1st October 2023