http://www.ebrd.com/new/ Press releases about EBRD news and events. en-gb Tue, 09 Feb 2010 16:21:49 +0000 The EBRD Board of Directors has approved a €150 million sovereign loan to Serbijagas, a state-owned Serbian company responsible for the transmission, storage, distribution and trade of natural gas, to finance the upgrade of the country’s gas transmission network and the construction of a new gas storage facility. http://www.ebrd.com/new/pressrel/2010/100209d.htm http://www.ebrd.com/new/pressrel/2010/100209d.htm 09/02/2010 Serbia Natural resources The European Bank for Reconstruction and Development has agreed to sell its 15 percent stake in OAO Swedbank Russia to its parent and major stakeholder, Sweden’s Swedbank AB, a move which would give it full ownership of its Russian subsidiary. http://www.ebrd.com/new/pressrel/2010/100209c.htm http://www.ebrd.com/new/pressrel/2010/100209c.htm 09/02/2010 Russia Corporate information The EBRD is supporting the development of the retail infrastructure in Croatia with a €68 million loan to finance the construction of a modern shopping centre in Split, the second largest city in Croatia. http://www.ebrd.com/new/pressrel/2010/100209a.htm http://www.ebrd.com/new/pressrel/2010/100209a.htm 09/02/2010 Croatia Property The EBRD and European Fund for Southeast Europe (EFSE) are boosting the availability of financing to private businesses in Moldova with a $10 million loan to ProCredit Bank in Moldova for on-lending to micro and small enterprises (MSEs). http://www.ebrd.com/new/pressrel/2010/100209.htm http://www.ebrd.com/new/pressrel/2010/100209.htm 09/02/2010 Moldova Small business The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years. http://www.ebrd.com/new/pressrel/2010/100208.htm http://www.ebrd.com/new/pressrel/2010/100208.htm 08/02/2010 Kazakhstan Strategies and Policies The EBRD is extending a new €6.5 million loan to Boni Holding, the leading meat processing company in Bulgaria, to support its drive to improve energy efficiency and to bring it into line with EU environmental standards. http://www.ebrd.com/new/pressrel/2010/100129.htm http://www.ebrd.com/new/pressrel/2010/100129.htm 29/01/2010 Bulgaria Agribusiness The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs). http://www.ebrd.com/new/pressrel/2010/100127b.htm http://www.ebrd.com/new/pressrel/2010/100127b.htm 27/01/2010 Armenia Small business In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton. http://www.ebrd.com/new/pressrel/2010/100127a.htm http://www.ebrd.com/new/pressrel/2010/100127a.htm 27/01/2010 Bosnia and Herzegovina Natural resources The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity. http://www.ebrd.com/new/pressrel/2010/100127.htm http://www.ebrd.com/new/pressrel/2010/100127.htm 27/01/2010 Bosnia and Herzegovina Non-bank financial institutions The EBRD has announced a sharp increase of nearly 60 percent in 2009 investments as it responded to the impact of the sharpest world economic downturn in generations. http://www.ebrd.com/new/pressrel/2010/100126.htm http://www.ebrd.com/new/pressrel/2010/100126.htm 26/01/2010 Regional Corporate information The EBRD has revised upwards its 2010 growth forecasts for the region*, reflecting a slightly faster economic recovery than anticipated last October, but with stark variation across the region. The recovery is expected to strengthen moderately in 2011. http://www.ebrd.com/new/pressrel/2010/100122.htm http://www.ebrd.com/new/pressrel/2010/100122.htm 22/01/2010 Regional Corporate information The EBRD is supporting the development of renewable energy in Bulgaria with a €60 million syndicated loan to Eolica Bulgaria to finance the development of the Suvorovo wind farm, in the north-eastern region of the country. http://www.ebrd.com/new/pressrel/2010/100115.htm http://www.ebrd.com/new/pressrel/2010/100115.htm 15/01/2010 Bulgaria Power and Energy The EBRD Board of Directors has approved an equity investment of up to €125 million via capital increase in Iberdrola Renewables Polska Sp. z.o.o. (IBR Polska) and Iberdrola Renovables Magyarország Kft (IBR Magyar), wind farm developing companies operating in Poland and Hungary respectively. http://www.ebrd.com/new/pressrel/2010/100113.htm http://www.ebrd.com/new/pressrel/2010/100113.htm 13/01/2010 Poland Power and Energy IFC, a member of the World Bank Group; the European Bank for Reconstruction and Development; and CRG Capital, a leading restructuring fund manager have launched the first fund dedicated to investing in distressed assets in Central and Eastern Europe. The CEE Special Situations Fund will invest in underperforming companies to support recovery in the region. It is being established by CRG Capital. The fund aims to raise €200 million, with EBRD, IFC, and CRG Capital initially committing a total of €36 million. It will focus on the acquisition, turnaround, and resolution of corporate distressed assets in Central and Eastern Europe. The fund forms part of the Debt and Asset Recovery Program launched by IFC during the 2009 World Bank Group’s Annual Meetings in October. Parham Pouladdej, Managing Director of CRG Capital, said, “We are very pleased with the fund’s first closing and the cornerstone investors’ confidence, support, and commitment. This successful closing reflects our track record, the strength of our team and investment strategy, as well as our unique positioning. While challenging, the current environment provides substantial opportunities to capitalize on throughout the region.” Varel Freeman, EBRD First Vice President, said, “The EBRD’s participation in the fund will support the development of private equity investments in companies that have been adversely affected by the economic crisis. The fund will support an established management group that will bring new skills to support the recovery of viable, but struggling, companies.” Lars Thunell, IFC Executive Vice President and CEO, said, "We are pleased to work with EBRD and CRG Capital on this important initiative for Central and Eastern Europe. By addressing the problem of bad debts, we are helping restore the long-term viability of the regional financial system so that individuals and small and medium businesses can gain better access to affordable finance." The Debt and Asset Recovery Program is a key element of IFC’s strategy to support the Europe and Central Asia region. http://www.ebrd.com/new/pressrel/2010/100111.htm http://www.ebrd.com/new/pressrel/2010/100111.htm 11/01/2010 Regional Equity funds The EBRD is helping to raise the standards of healthcare in Moldova with a €2 million investment in the Centrul de Diagnostic German (CDG), a new modern diagnostic imaging centre in the capital Chisinau. A subsidiary of the German Service of Diagnostics, the new clinic will be providing a wide range of modern imaging diagnostic procedures, such as Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound (USG), mammography, X-ray, laboratory testing and other services. Currently there are only two clinics providing MRI scan services in Moldova, both of which are using previous generation equipment. The waiting time for MRI services is months long and many patients have to seek services outside the country. With the support of the EBRD loan, Centrul de Diagnostic German, which opened in October, will become the first provider of the latest technology diagnostic services in the country. It will operate as a private walk-in medical clinic, and will also provide services to patients referred by physicians via a contract with the National Health Insurance Company. In addition to the latest technology diagnostic equipment, Centrul de Diagnostic German has a unique Radiological Information System and Picture archiving and communication system. It will be used to register and schedule patients, as well as to store and archive digital scans, which can be transmitted on CDs and accessed online via a secure access area. “The EBRD is pleased to support this innovative project, setting new and advanced standards in the Moldovan healthcare sector. The use of the latest technology will help Centrul de Diagnostic German provide high quality services, and due to its cooperation with the National Health Insurance Company, these services will be accessible to the wide public”, said Libor Krkoska, Head of Chisinau resident office of the EBRD. http://www.ebrd.com/new/pressrel/2009/091229.htm http://www.ebrd.com/new/pressrel/2009/091229.htm 29/12/2009 Moldova The EBRD is continuing to strengthen the private sector in Georgia with a $12 million loan to Margebeli JSC, a local agribusiness holding, to finance the company’s expansion and to help it become more energy efficient. http://www.ebrd.com/new/pressrel/2009/091224a.htm http://www.ebrd.com/new/pressrel/2009/091224a.htm 24/12/2009 Georgia Agribusiness The EBRD is increasing the availability of financing to the real sector in FYR Macedonia with a €5 million credit line with Ohridska Banka, Societe Generale Group for on-lending to small and medium-sized enterprises (SMEs). http://www.ebrd.com/new/pressrel/2009/091223b.htm http://www.ebrd.com/new/pressrel/2009/091223b.htm 24/12/2009 FYR Macedonia Lending to banks The EBRD and the Russian government today announced plans to cooperate on ways to promote energy efficiency, a major priority for a country which makes an exceptionally intensive use of its vast energy resources. http://www.ebrd.com/new/pressrel/2009/091223d.htm http://www.ebrd.com/new/pressrel/2009/091223d.htm 23/12/2009 Russia Energy efficiency The EBRD is lending $3 million to Saranist, an Armenian producer of glass bottles and jars, to help the company increase its production capacity and diversify its product range. http://www.ebrd.com/new/pressrel/2009/091223c.htm http://www.ebrd.com/new/pressrel/2009/091223c.htm 23/12/2009 Armenia General manufacturing The EBRD is increasing the availability of financing in Albania with a €2 million medium-term credit line to Union Bank for on-lending to small and medium-sized enterprises (SMEs). http://www.ebrd.com/new/pressrel/2009/091223a.htm http://www.ebrd.com/new/pressrel/2009/091223a.htm 23/12/2009 Albania