EBRD newsletter - Friday 16 October

By EBRD  Press Office

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EBRD and FAO support sustainable olive oil production in Tunisia

Global media reports about Annual Meeting

Last week’s Annual Meeting was widely covered by the international media as well as in the EBRD countries of operations. The election of Odile Renaud-Basso as new president was leading many articles, for instance in Le Figaro, Frankfurter Allgemeine Zeitung or The Financial Times. Iraq’s application for EBRD membership and the MoUs the Bank signed with Albania and Ukraine on the sidelines of its first virtual Annual Meeting were also widely reported.

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EBRD marks World Food Day

The EBRD’s Agribusiness team took over the Bank’s Instagram account to highlight their work through videos, photos and stories in the run up to World Food Day.

To meet the team and learn about their projects, start the ‘visual journey’ here

Watch a video message of EBRD Managing Director Jean-Marc Peterschmitt and other highlights here

EBRD and FAO approve Covid-19 technical support package

A US$ 3 million technical cooperation package, aimed at helping the agrifood sector in the EBRD regions to overcome the challenges of the coronavirus pandemic, was agreed by the Bank and the Food and Agriculture Organization of the United Nations (FAO). The package will also contribute to strengthening of the longer-term resilience of the food system, including production, processing and transport.

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Milestone in EBRD work on climate-related financial risk

The EBRD published its first stand-alone report on implementation of Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The publication is a landmark for the Bank as it is aligning its metrics and disclosure relating to climate risks and opportunities to those of other organisations, while also formulating plans to become a majority green bank by 2025.

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Palestinian small businesses to be strengthened during the pandemic

The EBRD has provided a US$ 10 million loan to The National Bank (TNB), one of the largest local banks in the West Bank and Gaza, in support of the Palestinian economy. Greater access to finance will help local micro, small and medium-sized enterprises combat the impact of the coronavirus pandemic.

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EBRD and EU help Greek logistics software vendor drive innovation

Mantis, a leading Greek vendor of software and solutions for warehouse management systems (WMS) and logistics, has developed a unique innovative product, the Logistics Vision Suite (LVS), to support companies with the management of their warehouses with the help of the EBRD and the European Union.

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Ensuring continuity of learning during coronavirus in Uzbekistan

With support from the EBRD’s Advice for Small Businesses funded by the Women Entrepreneurs Finance Initiative (We-Fi), Istiqbol Zamon Bolalari school’s director Matlyuba Madaminova was able to develop an interactive online platform for schoolchildren to access online resources, and improve internal processes.

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Saving energy, creating comfort

The historic centre of Sarajevo houses the first apartment building in the Western Balkans renovated with the help of the EBRD. New heating and new thermal insulation were installed with support of the EBRD’s Green Economy Financing Facility (GEFF). Residents are enjoying lower prices and better services thanks to the investment, which received from European Union, the Western Balkans Investment Framework and the Austrian Federal Ministry of Finance.

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EBRD in the news

A changed view of the world economy

"The pandemic has changed how we view the global economy," EBRD Chief Economist, Beata Javorcik said in an interview with Forbes Women, Poland. She presented the Bank’s economic prospects for Poland and the region, as well as discussed the role of women in international institutions and how societies are finally ready to accept women in senior positions.

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Tatra Summit

EBRD Chief Economist Beata Javorcik attended the Tatra Summit in the Slovak Republic where she spoke in a panel about “Garnering Innovation for Greener & Smarter Recovery”. She also gave interviews to the leading business daily Hospodarske noviny and the country’s biggest paper, SME. She warned of the longer-term impact of the coronavirus crisis: “It is a good idea to support jobs for three months, but it is not realistic to support them for three years. Governments will therefore have to make politically challenging decisions and choose what to support.”

The EBRD’s participation at the Summit was complemented by Vice President Pierre Heilbronn, who virtually attended a panel on the impact of the Covid-19 crisis on the global economy.

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Meeting the government of North Macedonia

Zsuzsanna Hargitai, EBRD Regional Director for the Western Balkans, met with the Prime Minister of North Macedonia, Zoran Zaev, in Skopje this week. Both sides expressed their intention to continue close cooperation, reported Makfax and numerous other local media.

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EBRD client tops Wall Street Journal sustainability ranking

Erdemir Group, Turkey’s largest steel maker and an EBRD client, was ranked first in “environmental issues management” in a survey by the Wall Street Journal. The EBRD is supporting the group’s efforts to improve its energy efficiency with finance and know-how.

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EBRD outlook on Greece

EBRD Lead Economist Peter Sanfey gave an interview to ERT1 TV channel in Greece. He discussed the growth of the Greek economy, the challenges and the impact of Covid-19, as well as the EBRD’s recent forecast.

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Split joins EBRD Green Cities

Croatia's second-largest city Split joined EBRD Green Cities with the signing of a Memorandum of Understanding. The largest city in the Dalmatia region will be the 41st member of the framework which addresses key environmental challenges facing conurbations in the EBRD regions. Local media such as the broadcaster N1 reported.


Green Finance conference in Budapest

Mattia Romani, EBRD Managing Director for Economics, Policy and Governance, represented the Bank virtually at the Central European Green Finance Conference 2020 this week. The topics included quantification and management of climate and environmental risks, and financing a post-Covid green recovery. “Infrastructure capital spending needs are not significantly higher in a low-carbon scenario”, Mr Romani said.

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“Restructuring in the COVID-19 era”

Beata Javorcik, EBRD Chief Economist and Barbara Rambousek, EBRD Director, Gender & Economic Inclusion, participated in a webinar “Restructuring in the COVID-19 era: What is the cost of missed opportunity?”. The debate explored the costs countries would be liable for if they fail to use this crisis as an opportunity to introduce much needed reforms.

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