A Favourable Concessions Regime: A Lender's Perspective and Perceptions from Transition Countries

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The first part of this article discusses the legal issues of primary concern to lenders generally, and in particular to the European Bank for Reconstruction and Development (EBRD), in assessing the risks associated with lending to a concessionaire in the context of an infrastructure development project. The second part describes the results of the EBRD’s Legal Indicator Survey assessing the legal regime for concessions in the transition countries. Many of the questions in the survey focus on issues of concern to both developers and lenders in assessing the legal regime applicable to concessions in a particular jurisdiction.