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EBRD newsletter 18 September

By EBRD  Press Office

Trade finance in times of coronavirus

Opened by EBRD Acting President Jürgen Rigterink, a virtual event with EBRD Chief Economist Beata Javorcik, Marc Auboin from the World Trade Organization and Shannon Manders from the Global Trade Review discussed the role of trade finance during and in the aftermath of the pandemic.

Watch here

Listen to podcast here

Serbia counts the cost of pandemic

According to a new report by the EBRD and the International Labour Organization (ILO), the coronavirus pandemic has hit micro enterprises in Serbia hardest and led to a decline in working hours during the second quarter of 2020 equivalent to the loss of 510,000 full-time jobs.

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New projects and signings

Long-term financing for Istanbul hospital

The EBRD provided a €40 million long-term loan, to Ronesans Healthcare, the private developer of the Başakşehir Çam ve Sakura City Hospital in Turkey. Access to longer-term financing will strengthen the financial resilience of this key hospital operator.

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Solar plant in Kazakhstan

A US$ 42.6 million financing package from EBRD, Green Climate Fund and Climate Investment Funds will support the construction of 76MWp solar power plant in the Karaganda region of Kazakhstan.

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Green finance for Kazakh households, firms

The Bank launched a US$30 million Green Economy Financing Facility (GEFF) in Kazakhstan to support gender inclusive green finance for households and small private sector companies investing in green technology solutions.

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Supporting Uzbek economy

A combination of an SME credit line and a trade finance limit increase for Bank Ipak Yuli, Uzbekistan’s major private lender, will help SMEs and firms active in international trade weather the crisis.  

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Thanks to new EBRD financing, another Uzbek lender, Bank Asaka, will be able to stimulate the business activity of SMEs affected by the coronavirus pandemic.

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Climate finance for Mongolian businesses

Smaller firms in Mongolia will benefit from new opportunities to make their businesses more energy efficient and productive thanks to a US$ 4 million loan provided by the EBRD and the Green Climate Fund (GCF) to XacLeasing, one of the country’s largest financial leasing companies.

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New funds for SMEs in North Macedonia

The EBRD and NLB Banka Skopje have signed an €8 million financial package in support of the enterprises of North Macedonia that are willing to invest in renewable energy sources and achieve energy savings and environmental protection.

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EBRD in the news

EBRD Chief Economist Beata Javorcik has written in Handelsblatt about the cost of the new home office world.

Read more (in German)

Beata Javorcik also spoke to Bankier about what Poland can benefit relatively from pandemic.

Read more and watch here (in Polish)

Senior bankers Alexander Pavlov and Oksana Yavorskaya spoke to Ukraine’s Zerkalo Nedeli about the country’s state banks.

Read more (in Russian)

Greece likely to spend $5.9 billion for lignite phase-out, set up a 204 mw solar park

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Uzbekistan opens RfQ for 100-MW wind project in Karakalpakstan

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Egypt, EBRD unveil economic recovery plan for 2021-2025

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The EBRD in social media

The Bank published a new video, featuring Francis Malige, EBRD Managing Director for Financial Institutions, on its work to support financial institutions during the coronavirus pandemic.

Watch the video

Beata Javorcik, EBRD Chief Economist, delivered a keynote speech at the StrategEast State and IT Eurasian Forum in Tbilisi.

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The Energy Transitions Commission’s (ETC) new report “Making Mission Possible – Delivering a Net-Zero Economy” sets out steps needed in the next decade to achieve that objective. Nandita Parshad, the EBRD’s Managing Director for Sustainable Infrastructure, is one of the ETC's commissioners.

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Ahead of its digital event, the EBRD posted trade finance related polls on Instagram, LinkedIn and Twitter.

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Small businesses in Montenegro will benefit from an EBRD €2 million loan to Alter Modus to help support crisis-hit SMEs due to the Covid-19 pandemic.

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The EBRD and the EU are promoting financial literacy among small businesses in Mongolia.

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In collaboration with the London Institute of Banking & Finance, the EBRD is offering a special discount to trade finance specialists across most of its regions for a set of internationally recognised trade finance and transaction banking online qualifications.

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