EBRD newsletter - Friday 5 March

By EBRD  Press Office
@ebrd

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Czech Republic applies for EBRD re-engagement

Following the severe impact of the coronavirus pandemic the Czech Republic this week formally applied for a resumption of the EBRD’s activities in the country. The Bank stopped making new investments in the Czech Republic in 2008, but the country remained a shareholder in the Bank and the EBRD continue to support Czech companies in external markets. The new engagement, if approved by the EBRD shareholders, would be limited in time and scope to address most pressing needs.

How do we know that we make a difference?

A new panel discussion in the EBRD series “EconTalk” this week was dedicated to the question “How can we ensure effective MDB lending” and featured EBRD President Odile Renaud-Basso, Chief Economist Beata Javorcik, Professor Dean Karla from the Global Poverty Research Lab and Pavan Sukhdev, a specialist in environmental economics. EBRD President Renaud-Basso said: “Our key purpose is to deliver global public goods such as poverty reduction, fighting inequalities, addressing climate change and supporting the private sector.”

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EBRD defends legal interests in Moldova

The EBRD is fighting a legal decision to impose external administration over the assets of Danube Logistics SRL, the operator of Giurgiulesti International Free Port in Moldova.

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Private Equity in times of Covid-19

EBRD Managing Director Charlotte Ruhe participated in a Private Equity event this week about “How will sustainability and digitalisation shape Europe’s recovery from COVID-19?” She stated that Central and Eastern Europe “is increasingly recognised for its strength as a tech hub and for the calibre of its tech talent. We are seeing a rapidly developing venture capital ecosystem and international exposure.”

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What the EBRD has learned from Woody Allen

In a one-hour interview with the national broadcaster HRT on prime time the EBRD Director for Croatia, Victoria Zinchuk, set out the Bank’s work in the country and its mission to “change people’s lives”. She also talked about her professional career and revealed to the Croatian public what the EBRD has learned from Woody Allen: “80 per cent of success is showing up”, she said with reference to the Bank’s strong network of resident offices in its countries of operations.

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Inside Chernobyl

The documentary series “Inside Chernobyl” with Ben Fogle premiered on Channel 5 in the United Kingdom. The EBRD facilitated production of the film in which it also featured prominently with representatives as well as with the transformational work the Bank has managed at the site of the 1986 accident, the 35th anniversary of which will be marked on 26 April.

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Learn more about the EBRD’s work in Chernobyl

Greening North Macedonia

Andi Aranitasi, Head of EBRD North Macedonia, spoke at the official ceremony for the construction of the Stip-Ovce Pole transmission line, welcoming the government’s commitment to decarbonising the economy.

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Project signings

Equity for Czech online retailer

The EBRD has become a shareholder in the Czech online retailer Velka Pecka, which is now seeking to expand its operations in Hungary, and to enter the Romanian market and other countries where the EBRD invests at a time of increasing demand.

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Food security in the Kyrgyz Republic

In the Kyrgyz Republic, Dan Agro has received a loan of US$ 4 million from DemirBank that was backed by the company’s inventory, with part of the risk being shared by the EBRD under a risk-sharing facility between the two financial institutions. This innovative financial product, which was not previously available in the Kyrgyz market will support the company’s working capital needs.

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Improving water services in Tajikistan

In Tajikistan, over 100,000 inhabitants of Kulob will receive access to an improved water supply and water treatment services following major upgrades financially supported by the EBRD and the EU with a loan of up to €7.5 million to rehabilitate the key water supply and wastewater infrastructure in the city.

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Donors

The EBRD celebrated #EUIndustryDays, where Heike Harmgart discussed how, together with the European Union, the Bank is boosting value chain integration and helping energy intensive industries in the neighbouring region in their transition towards a Paris aligned world.

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Social media

The EBRD’s Alistair Clark spoke at the World Ocean Summit

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A new practical guide for financial institutions developed with United Nations Environment Programme Finance Initiative is out.

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The EBRD supports Serbia’s green drive by helping to establish new business association for renewable energy sources.

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