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EBRD newsletter 31 July

By EBRD  Press Office

A digest of recent news from the EBRD

Boosting resilience and energy efficiency

In Cyprus

The EBRD invested €80 million in a new natural gas import facility in Cyprus, alongside the EIB and the EU. The new facility is expected to reduce the country’s CO2 emissions by 10 per cent.

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In Montenegro

A €50 million senior loan to Elektroprivreda Crne Gore, Montenegro’s main electricity provider, will help ensure the stability and resilience of the country’s energy provision while protecting the achievements made towards clean growth and decarbonisation.

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In Bosnia and Herzegovina

Public buildings in Sarajevo will see a significant improvement in their energy efficiency thanks to a €10 million financing package provided by the EBRD and the EU for the refurbishment of 40 buildings in the capital of Bosnia and Herzegovina.

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With green technologies

A new mobile app, Tech Selector, launched this week will help businesses and homeowners find more than 18,000 solutions that improve energy efficiency, provide renewable energy and reduce water use and soil erosion.

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See how it works

Energy efficiency policy guidelines

The EBRD and the EU-supported Energy Community teamed up to issue joint Policy Guidelines to help countries design effective energy efficiency funding mechanisms.

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Strengthening vital infrastructure

Water sector in Bulgaria

The EBRD and the European Union (EU) supported the water utility sector in Bulgaria with a €40 million loan to Raiffeisenbank to bolster loans to regional water and wastewater operators for the reconstruction of existing infrastructure, the construction of new water supply and sewage networks as well as the upgrade of potable water and wastewater treatment facilities across the country.

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Creating and sustaining resilience in the water sector

The EBRD organised a webinar with water experts from the Bank’s Green Cities and the private sector to discuss how to sustain resilience in the water sector in light of the coronavirus pandemic.

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Municipalities in Georgia

The population of Bakuriani in Georgia will benefit from special vehicles for street cleaning, snow removal and waste collection, as well as from the purchase of multi-purpose trucks, and modern buses for passenger transport, thanks to a €5 million loan provided by the EBRD.

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Supporting small businesses and the financial sector

A strategic partnership with Visa

The EBRD and Visa, the global leader in digital payments, announced a strategic partnership that aims to jointly support small- and medium-sized enterprises in the economies where the EBRD operates.

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In Montenegro

A €50 million stand-by credit line to the Deposit Protection Fund of Montenegro to ensure the protection of citizens and businesses against potential sector vulnerabilities following the outbreak of the coronavirus pandemic.

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In Turkey

The EBRD supported Aklease with a €40 million loan to to increase the availability of funding to Turkish businesses for crucial capital investments. 

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In Tunisia

A €5 million loan to Compagnie Internationale de Leasing (CIL) for on-lending to local private businesses experiencing a decrease in activity, turnover and profitability following the coronavirus pandemic.

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In Moldova

The EBRD is providing an additional €5 million loan to Mobiasbanca-OTP Group for on-lending to Moldovan companies, supported by EU grants under the EU4Business-EBRD credit line

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In Greece

The EBRD extended the deadline of submissions for its programme in order to attract more SMEs wishing to increase their capacity for corporate bond issuance or listing (IPO) on the Athens Stock Exchange.

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This week in Central Asia

Addressing uranium legacy in Central Asia

An EBRD-managed programme will safeguard human health and the environment overcoming the legacy of Soviet uranium mines in Central Asia.

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First Tajik lender to benefit from EBRD Solidarity Package

The EBRD provided a financial package of US$ 2 million for Arvand Bank, the seventh-largest bank in Tajikistan to support local businesses.

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Supporting green fruit farming in the Kyrgyz Republic

Together with the EU, the Bank helped Kazy-Bek Agro Farm in the Kyrgyz Republic to produce its own organic fertiliser with a new biogas facility and grow fruits for the local market.

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“Reduced grain export by Kazakhstan and Russia threatens global food security”

André Küüsvek, EBRD Managing Director for Central Asia, gave an interview to the news agency Interfax, talking about food security and trade.

Read here


Promoting financial crime prevention

Financial institutions and partners of the EBRD in the countries of the Eastern Partnership will improve their compliance with financial crime prevention regulations following an accord signed between the Bank and the Association of Certified Anti-Money Laundering Specialists and supported by the EU.

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Covid-19 response under German EU Presidency

EBRD Acting President Jürgen Rigterink met Jorg Kukies, State Secretary of the German Finance Ministry, to discuss the delivery of Covid-19 response.

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New projects

The EBRD approved or signed the following new projects this week:

In Serbia, a €20 million loan to Banca Intesa Belgrade for on-lending to local businesses

In Montenegro, a €2 million loan to Alter Modus for on-lending to micro, small and medium-sized enterprises


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