A digest of recent news from the EBRD
EBRD podcast: will capitalism survive the coronavirus pandemic?
Nobel economics laureate Joseph Stiglitz and EBRD Chief Economist Beata Javorcik discussed how the coronavirus pandemic, already seriously shifting the balance between state and private sectors, will change our economies and politics. Presented by Jonathan Charles, the Pocket Dilemmas podcast special was co-hosted by the Athens Democracy Forum and New York Times.
Bohunice decommissioning passes major milestone
The programme to decommission the BohuniceV1 nuclear power plant in the Slovak Republic achieved a milestone with the successful removal of the first reactor pressure vessel, allowing remote dismantling of the facility.
EBRD launches regional start-up initiative
The Bank launched a regional partnership with Startup Wise Guys, a leading start-up accelerator, to let companies active in fintech apply for a bespoke accelerator programme, combining the latest fintech with the Bank’s goal of fostering the development of competitive and sustainable economies.
How renewable energy is beating the impact of coronavirus
Despite the disruption of recent months, the world’s major institutions, as well as individual governments and companies, are sticking with the green agenda, as new EBRD deals in Poland (solar and wind), Uzbekistan (wind) and Albania (solar) show.
EBRD TFP Awards recognise successful partner banks from three continents
The EBRD Trade Facilitation Programme (TFP) announced the winners of its prestigious annual TFP Awards. The 2020 TFP Awards honour successful issuing and confirming banks from the 27 most active countries in delivering EBRD financing across our countries of operations over the past year.
Supporting Poland’s Grupa Azoty’s move into new technology
In Poland, chemical producer Grupa Azoty is taking a huge step in its green development through the introduction of new technology and a new production line with €125 million multi-currency equivalent from the EBRD.
… and Polish pharma company Pelion
Faced with increased market volatility due to the coronavirus pandemic, Pelion has taken an EBRD loan of PLN 110 million (around €25 million to maintain short-term liquidity.
Supporting Turkey’s technology…
The EBRD extended a US$ 100 million loan to Türk Telekom for the modernisation of its fixed broadband infrastructure, using energy-efficient technology and equipment.
The Bank provided a €60 million loan to Anadolu Etap, the leading fruit producer in the country to help them ensure continuous growth despite the uncertainty of the pandemic.
Support to Electric Networks of Armenia
In Armenia, the EBRD lent US$25 million to electricity distribution company Electric Networks of Armenia (ENA) to help safeguard the electricity supply following the outbreak of the coronavirus pandemic.
Helping Ukraine’s firms do business
The EBRD increased by US$ 90 million an existing trade finance facility provided to Ukrgasbank (UGB).
Funding key infrastructure project in Croatia An additional loan of €6 million supported the upgrade of wastewater and sludge treatment facilities for the Croatian seaside town of Poreč.
Improving solid waste services in Kyrgyz Republic
More than 300,000 residents of Kyrgyz Republic’s Osh and neighbouring municipalities will have better solid waste services with €10m joint financing support for improved solid waste infrastructure and management.
US$4m loan to Caspian Beverage Holding
In Kazakhstan, the Bank providing US$4 million in local currency to Caspian Beverage Holding to expand their operations and become greener.
Providing local currency loans for SMEs in Belarus
The EBRD provided a local currency loan of 10 million Belarusian roubles for BNB Bank of Belarus. It will improve access to funds for domestic SME and reduce FX-related risk.
Delivering in times of crisis
Serbian firm equips German doctors in battle against coronavirus
In Serbia, workwear manufacturer Trendtex scaled up and re-focused its production to produce medical uniforms and invested in new equipment to manufacture reusable face shields and poncho-type coats with business advice from EBRD and EU.
Supporting online learning in Mongolia
In Mongolia, the EBRD prepared the Mandakh University for remote teaching to counter the coronavirus pandemic.
Our country diagnostics quiz challenged our Instagram followers to answer questions about the southern and eastern Mediterranean and find our country diagnostics and #covid19 country assessments in the link in bio.
We celebrated World Environment Day with a multi-platform online campaign sharing many EBRD green and environmental achievements. Among them, we promoted next week’s EBRD Green Cities webinar, Transition to Recovery, (learn more here) to be held on Tuesday 9 June at 9am.
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