EBRD newsletter - Friday 23 October

By EBRD  Press Office
@ebrd

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A digest of recent news from the EBRD

EBRD Acting president, Jürgen Rigterink, held an online discussion with other MDB heads on Covid-19 recovery.

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The EBRD held an online session during the European Week of Regions and Cities, which brought together mayors, financiers and urban experts to discuss the key topic of addressing a green recovery whilst ensuring people's quality of life.

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Factoring has the potential to boost the growth of smaller businesses in Ukraine as companies struggling with the impact of the Covid-19 pandemic seek finance. The EBRD and the National Bank of Ukraine held a joint webinar on this key topic this week.

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New strategy for Greece approved

The Board of Directors of the EBRD has approved a new strategy for Greece, which will guide the Bank’s investment and policy engagement in the country during the next five years.

The EBRD’s priorities will be strengthening competitiveness by facilitating the expansion of the private sector, supporting sustainable energy and infrastructure, and enhancing the resilience of the financial sector.

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Strengthening economic cooperation with Japan

In an MoU signed by the EBRD and Nippon Export and Investment Insurance (NEXI), the two partners agreed to explore and develop channels to use their financial resources in projects and to combine their financing expertise in regions where both organisations operate.

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Goodbye Chernobyl Shelter Fund

The EBRD Head of Chernobyl Safe Confinement, Simon Evans, shares his thoughts about the Bank’s achievements on Chernobyl. 

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Promoting innovation in green trade finance

The EBRD joined this year’s NTT DATA Open Innovation Contest as a partner in the search for potential collaborations with start-ups who have innovative ideas in the area of sustainable trade finance.

Start-ups will submit business ideas for each challenge and pitch their proposals in regional competitions. The winner will receive technical and business support from NTT DATA to implement a proof of concept with up to US$ 100,000 in support for associated costs such a travel, operations and hardware/software.

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EBRD and Donors

Meet the Romanian robot which kills the coronavirus with UV light

An autonomous robot called Victor, which kills pathogenic microorganisms including coronavirus using UV-C radiation, is fighting the coronavirus pandemic at a major hospital in Bucharest. Thanks to an advisory project backed by the EBRD and the European Union, we’re helping Modulab speed up the robot assembly.

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“Green” buses arrive in Batumi

Eight electric buses financed by the EBRD and the multi-donor Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund, of which the European Union  is the largest contributor, have arrived in Batumi, Georgia’s second-largest city. They will improve the service for the city’s residents and visitors by increasing the reliability, safety and efficiency of public transport, while benefiting the environment by reducing emissions.

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Boosting renewables in Kazakhstan

Rapid economic growth in Kazakhstan has brought a sharp upswing in electricity demand and usage. A long-term engagement strategy, backed by the EBRD and the Climate Investment Funds (CIF), has been instrumental in jumpstarting Kazakhstan’s renewables market.

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New finance for businesses in Serbia

The EBRD and the European Union are stepping up their support for small and medium-sized enterprises (SME) in Serbia. A new €10 million credit line to Intesa Leasing will support these companies during and after the coronavirus pandemic.

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Project signings

Extending funds to Turkey’s Alternatif Bank

In Turkey, the EBRD provided a loan of up to US$ 25 million (€22.5 million) to Alternatif Bank for on-lending to SMEs and corporates affected by the economic impact of the coronavirus pandemic.

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Ukraine’s Dnipro to upgrade public buildings with EBRD loan

In Ukraine, thanks to a €25 million loan by the EBRD to the municipal energy management company Dniprovska Municipalna Energoservisna Kompanya, energy efficiency of public buildings of Dnipro will be improved.

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Increasing trade support in Tunisia

In Tunisia, the EBRD is stepping up its efforts to support the economy by increasing an existing trade finance limit under the Trade Facilitation Programme (TFP) for Banque de Tunisie from US$ 20 million to US$ 50 million to help domestic exporters and importers to continue their business activities during the coronavirus pandemic.

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Supporting Badia Impact Squared first closing

New technology companies in the SEMED region will benefit from additional sources of new funding thanks to a US$ 10 million equity commitment by the EBRD to the venture capital fund Badia Impact Squared Fund managed by Silicon Badia.

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Releasing new funds to complete overhaul of Shymkent water utility

In Kazakhstan, the EBRD has released a €2.5 million loan in local currency equivalent to complete the refurbishment of water and wastewater facilities in Shymkent, the third-largest municipality of the country.

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Supporting heavy machinery supplier in Mongolia

In Mongolia, the EBRD and local lender Khan Bank are supporting the operations of leading dealer in heavy duty machinery, Wagner Asia Equipment (WAE). In a joint transaction, Khan Bank is providing a loan of up to MNT 84 billion (US$ 29 million equivalent) to WAE, while 33 per cent of the risk on the loan will be shared by the EBRD under a risk sharing facility signed between the two financial institutions.

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Staff Photo Competition

The EBRD announced the winners of its Staff Photo Competition 2020. Take a walk through the virtual immersive photo exhibition, showcasing some of the submissions.

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