EBRD newsletter 4 September

By EBRD  Press Office
@ebrd

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Major developments

Lebanon explosion

On 4 August, a massive blast of ammonium nitrate devastated the Beirut port area and caused major damage to the Lebanese capital. Multiple casualties were reported. The explosion triggered the political and humanitarian crisis in the country. EBRD Acting President Jurgen Rigterink expressed his deep sadness and the Bank’s commitment to Lebanon. Reports by BBC, Reuters and AFP

Protests in Belarus

Hundreds of thousands of people across Belarus rallied against what they believe to be a rigged presidential election on 9 August. President Lukashenko, the incumbent, officially claimed a comfortable victory but the result was not recognised by the G7, EU member states and other countries across the world. The Belarusian authorities were criticised for using force against protesters and journalists. Reports by BBC, Reuters and Bloomberg

Indictment against Moldova’s Victoriabank

The EBRD expressed its “serious concerns” about an indictment issued by Moldova’s Anti-Corruption Prosecutor's Office against Victoriabank in connection with the investigation of fraudulent activities in the Moldovan banking sector in 2014. The EBRD asked for the investigation to respect the bank's clients and customers as well as its current shareholders and to be carried out with due consideration of potential consequences for the banking system. Reuters and Frankfurter Allgemeine Zeitung reported.

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Project signings

 

In North Africa:

€300 million support for Morocco’s vital infrastructure services

The EBRD supported the delivery of vital infrastructure services in Morocco with a €300 million financing package to state-owned utility and transport companies.

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Fostering private businesses in Egypt

The EBRD supported the real economy in Egypt with a US$ 200 million financing package to Banque Misr for trade and on-lending to SMEs and private businesses impacted by the coronavirus pandemic.

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Support to small business in Morocco

The EBRD supported small businesses in Morocco with an approximately 430 million dirham (equivalent to around €40 million) loan to CaixaBank Morocco, a subsidiary of the Spanish bank.

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In Ukraine:

Loan to natural gas producer in Ukraine

The EBRD stepped up its efforts to transform Ukraine’s energy sector with a €51.9 million sovereign loan to the largest natural gas producer, Ukrgasvydobuvannya. The company will use the funding to increase domestic natural gas production, reduce the country’s dependency on imports and improve the efficiency and transparency of the sector.

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Green expansion of food retailer in Ukraine

The EBRD supported the Ukrainian food retailer Novus with a US$ 100 million financing package to facilitate the construction or refurbishment of more than 30 new stores by the end of 2022 and to build the first green distribution centre – a state-of-the-art logistics facility

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Major concession project in Ukraine

A 35-year concession for the seaport of Olvia was signed with QTerminals of Qatar, a terminal operating company providing container, general cargo, livestock and offshore supply services. Together with the government of Ukraine, the IFC and the Global Infrastructure Facility, the EBRD helped organise the concessional tender and brought the project to a commercial close.  

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In other regions

Investing in Ungheni-Chisinau gas pipeline

The EBRD strengthened Moldova’s energy security with the acquisition of a 25 per cent stake Vestmoldtransgaz, the gas transmission company that is operating the newly built inner-Moldovan Ungheni-Chisinau gas pipeline.

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€160 million loan to Public Power Corporation of Greece

The EBRD provided a senior unsecured loan of up to €160 million to the Public Power Corporation S.A., the largest power producer and electricity supplier in Greece, to address the impact of the coronavirus pandemic.

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First software engineering project financed in Western Balkans

HTEC, the leading international software developer and technology research and development (R&D) services provider, boosted its business by entering into a partnership agreement with the EBRD and the Enterprise Expansion Fund, through a €12 million loan.

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BAKAD project in Kazakhstan reaches financial close

The EBRD played a major role in organising financing for the construction of a 66-kilometre ring road (the BAKAD project) around the city of Almaty, Kazakhstan’s ancient capital. The project reached financial close in August, making it the largest public-private partnership project in Kazakhstan and Central Asia to date.

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Strengthening of regional agribusiness value chains

The EBRD strengthened the agribusiness value chain and trade in five economies across the eastern Mediterranean, eastern Europe and the Black Sea region with a US$ 200 million loan to Olam International Limited to finance purchases of agricultural commodities in selected countries of operation.

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EBRD and UniCredit Bank Banja Luka support SMEs

The EBRD provided a loan of up to €20 million to UniCredit Bank a.d. Banja Luka to help combat the economic impact of the coronavirus pandemic with on-lending to local businesses in need of short-term working capital or liquidity support.

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EBRD in the news

Acting President Jurgen Rigterink spoke to Handelsblatt about the impact of the coronavirus pandemic on the supply of essential goods

EBRD Managing Director for Turkey Arvid Tuerkner spoke to Bloomberg about plans to boost local currency lending in Turkey

A BBC online article on the threat of sunken Soviet submarines to the environment quoted EBRD Director of Nuclear Safety, Balthasar Lindauer.

Susan Goeransson, EBRD Director Infrastructure Europe, spoke to WMW about waste management

EBRD Deputy Head of Egypt, Khalid Hamza, spoke to Ahram about the Bank’s activities and plans in Egypt.

Social Media

The EBRD helped the city of Osh city in the Kyrgyz Republic install 10,000 water meters in three municipal districts with support from the European Union and the European Investment Bank.

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Under the Women Entrepreneurs Finance Initiative (We-Fi) the EBRD and other IFIs will work to support women entrepreneurs with access to finance, markets, technology and mentoring. 

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EBRD representatives joined Serbia’s Prime Minister Ana Brnabić on her visit to the Vinca landfill in Belgrade.

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The Romanian business Vivre joined the EBRD’s Blue Ribbon programme to support its growth ambitions over the next few years with tailored advisory and financing from the Bank.

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The EBRD is looking for start-ups from the Western Balkans to join its Star Venture programme.

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The EBRD marked the International Youth Day with an article about the importance of youth inclusion as well as photos from young people we have supported.

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See the photos

The EBRD’s Internal Communications team won the "Small Idea, Big Impact" award by Gartner Communications for its Green Week 2019 campaign.

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Through an Instagram campaign, the EBRD travelled virtually across its regions, highlighting some of its projects in the tourism sector and promoting the regions’ summer destinations.

Start the tour here

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