EBRD newsletter - Friday 30 October

By EBRD  Press Office
@ebrd

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New 100 MW facility to help reduce annual CO2 emissions

Events

EBRDEconTalk: Growing mountain of debt

#EBRDEconTalks looked at the growing amount of debt in the wake of Covid-19, with Carmen Reinhart, Chief Economist at the World Bank, Martin Wolf, Chief Economics Commentator at the Financial Times, and Beata Javorcik, EBRD Chief Economist, discussing the challenges ahead.

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FTLive: Jürgen Rigterink about “The Future of Work”

EBRD Acting President Jürgen Rigterink took part in the #FTGlobalSummit and spoke about “The Future of work” in a fireside chat. He pointed out that the coronavirus pandemic had accelerated trends which were already in progress such as digitalization and automation and will lead to permanent changes in the work environment. The importance of skills and permanent training is going to increase even further, he stated.

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First FIN-SMART roundtable on financing sustainable maritime transport

Officials from the financial, public and private sectors in the maritime sector discussed ways to address the financial challenges related to the transition of shipping to a more sustainable and resilient future in the first “Financing Sustainable Maritime Transport (FIN-SMART) Roundtable”, a virtual forum hosted by the International Maritime Organization (IMO), the EBRD and the World Bank Group.

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Project signings

EBRD buys stake in Adriatic Metals

The EBRD acquired a 2.62 per cent stake in Adriatic Metals PLC to support development of the Vareš silver project in Bosnia and Herzegovina. The Bank’s investment of GBP 6.2 million (€6.62 million equivalent) will be used to finance the transition from exploration to mine development.

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Supporting women in business with Raiffeisen Bank BiH

In Bosnia and Herzegovina, the EBRD and Raiffeisen Bank BiH are joining forces to support women-led enterprises facilitating access to finance which often remains challenging with a credit line of up to €2 million.

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Boosting financial stability in Bosnia and Herzegovina

The EBRD is providing a €30 million standby credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA) to ensure that citizens and businesses are protected against potential vulnerabilities in the financial sector during the coronavirus pandemic.

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€20 million loan to Banca Intesa Beograd

In Serbia, a loan of up to €20 million by the EBRD to Banca Intesa Beograd will address the liquidity needs of corporates, small businesses and municipalities that are experiencing a decrease in their activities and turnover due to the spread of the coronavirus pandemic.

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Supporting Serbia’s Sojaprotein

The EBRD is providing a €25 million loan to support Serbia’s Sojaprotein’s development, including capital expenditure for further expansion, promoting Serbia’s huge potential in agribusiness.

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EBRD, AIIB, ICBC and GCF provide US$ 95.3 million for wind farm in Kazakhstan

The EBRD and partners are promoting Kazakhstan’s further transition from coal-fired power to renewable generation by supporting the construction of a 100 MW wind farm near Zhanatas with a US$ 95.3 million loan.

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EBRD and Donors

EBRD’s Ukraine Public Transport Framework reaches important milestone

EBRD financed 400 new trolleybuses to help make 12 Ukrainian cities safer and greener. This project was supported by the Clean Technology Fund and the Eastern Europe Energy Efficiency and Environment Partnership (E5P), to which the European Union is the largest contributor.

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Supporting Gradacac’s water supply system upgrade

Better water services for over 20,000 people living in Gradacac, Bosnia and Herzegovina, with support from EBRD donors and the Western Balkans Investment Framework, which focuses on regional socioeconomic development and accession into the EU.

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Building a strong economy in Mongolia

From dairy farmer to the end product in the supermarket - we helped milk producer Suu to expand and improve its business. Together with the European Union, the EBRD is supporting a wide range of companies across Mongolia with finance and business advice.

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EBRD in social media

Global Finance Magazine recognised EBRD Coronavirus Response for Outstanding Crisis Leadership in 2020, Business and Finance category.

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EBRD Advice for Small Business team ran a social media competition encouraging businesses to take learning modules, graduate from Know How Academy and post their certificates on social media tagging EBRD. The winner will be announced soon.

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EBRD’s Fady Alrayyes led a transformational project in Tunisia’s financial sector with pioneering work in the development of local capital markets.

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EBRD in other news

EBRD e-training helps make road design greener by incorporating teaching for engineers about climate resilience.

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The Governor of Montenegro’s Central Bank met with EBRD Montenegro Head Jaap Sprey on “potential and need for intensifying cooperation”, local media reported.

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Barbara Rambousek, EBRD Head of Gender and Economic Inclusion joined Lyazzat Shatayeva for a discussion in this episode of IMPACTFUL, as reported by the Kazakh broadcaster Azaq TV.

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