EBRD newsletter 12 March

By EBRD  Press Office
@ebrd

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Our week-long #IWD2021 coverage

Why gender has to be at the heart of the agenda for green – op-ed

An op-ed by EBRD President Odile Renaud-Basso set out how greater gender equality will help the world tilt to green: ‘’At the EBRD, we recognise that gender equality has to be an integral part of green investment and policy action.’’

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How women-led businesses across EBRD’s regions are thriving against the odds

Meet the inspiring women who have shown resilience, flexibility and strength in the face of unprecedented adversity, namely the Covid-19 pandemic. To date, the Bank has supported more than 90,000 women across 24 economies with financing and business advisory projects, training and mentoring as part of its Women in Business programme

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Breaking the glass ceiling at EBRD

The EBRD’s women leaders – including President Odile Renaud-Basso, the first female leader of a multilateral development institution,  as well as Chief Economist Beata JavorcikChief Financial Officer Soha El-Turky and Chief Risk Officer Annemarie Straathof – reflected on their career paths in an IWD article. Today, women make up the majority of the EBRD’s workforce, at 56 per cent.

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Webinar: Women Leading on Green

EBRD Green Cities and Gender and Inclusion teams co-hosted a panel, Women Leading on Green,  on the links between green planning and gender inclusion, with an opening speech by EBRD President Odile Renaud-Basso

EBRD and Green Climate Fund extend cooperation by US$ 500 million

The EBRD has scaled up green intermediated financing by approving additional headroom for the next phase of its successful large-scale partnership with the Green Climate Fund. An extension of the successful cooperation supports thousands of individual investments in technologies that reduce emissions and enhance resilience to climate change.

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NIB joins EBRD and Baltic central banks to develop commercial paper market

The Nordic Investment Bank (NIB) has joined the EBRD and the central banks of Estonia (Eesti Pank), Latvia (Latvijas Banka) and Lithuania (Lietuvos Bankas) in a joint effort to develop a regional market for commercial papers used to address short-term liquidity or working capital needs.

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EBRDEconTalks: How to measure the impact of MDB lending

#EBRDEconTalks discussed how to ensure that multilateral lending helps the world emerge from the current crisis, and make lending as effective as possible. Speakers included Dean Karlan, Professor of Economics and Finance at Northwestern University, Pavan Sukhdev, an environmental economist, banker and President of WWF International and Beata Javorcik, EBRD Chief Economist.

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Approving a new strategy for Hungary

The Board of Directors of the EBRD has adopted a new country strategy for Hungary that sets out the framework for the Bank’s work in the country for the period 2021-26.

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EBRD Literature Prize 2021: selected longlist announced

The EBRD Literature Prize 2021, launched by the Bank to promote translated literary fiction from its regions of operations, announces its selected longlist. 

Created in 2017, the EBRD Literature Prize is a project of the Bank’s Community Initiative, aiming to engage staff and the institution in philanthropic, social and cultural activities in the regions where the Bank works.

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Project signings

Investing in PPC’s sustainability-linked bond issue in Greece

In Greece, the EBRD is supporting the ambitious sustainability and decarbonisation targets of Public Power Corporation S.A. (PPC), the largest power producer and electricity supplier, by investing €50 million in the company’s sustainability-linked bond issue.

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Bolstering gender-equal workforce and greener stores in Turkey

In Turkey, one of the leading food retailers, Migros, will expand its operations using a €60 million loan from the Bank. The company is aiming to increase efforts to employ a gender-balanced workforce and further enhance the energy efficiency of its store network with the new EBRD financing. 

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Additional €20 million in EU grants for Corridor Vc in BiH

The construction of Corridor Vc, the key infrastructure project that the EBRD supports in Bosnia and Herzegovina, is progressing with €20.7 million new financing from the EU to support the completion of the construction works on two sections: Buna-Pocitelj and tunnel Zenica-Donja Gracanica.

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Lending €10 million to Intesa Sanpaolo Banka d.d. BiH

In Bosnia and Herzegovina, the EBRD has extended a €10 million mortgage credit line to Intesa Sanpaolo Banka d.d. Bosnia and Herzegovina for on-lending to private borrowers for housing purposes.

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Increasing availability of essential medicines in the Kyrgyz Republic

In Kyrgyz Republic, the EBRD, the EU, Switzerland and  DemirBank are helping to increase the availability of affordable and high-quality medicines by boosting the efficiency of Darmek Pharm, a leading pharmaceutical chain operating 42 outlets in the south of the country.

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Donors

Build Back Better in Turkey in the spirit of Circular Economy, supporting private education in the Kyrgyz Republic, women who #ChoosetoChallenge and many more in the EBRD donors monthly newsletter!

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EBRD in the news

An article on renewables in Central Asia in PV Magazine featuring EBRD Director, Head of Energy Eurasia, SIG Aida Sitdikova and Associate Director for sustainable resource investments Cristian Carraretto. Ms. Sitdikova explained how the EBRD play an important role in Uzbek renewables. “Besides a robust and clear regulatory framework, Uzbekistan has the political will to harness the huge potential of renewable energy in the country,” she said.

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Azerbaijan’s President Ilham Aliyev held a video meeting to receive new President of the EBRD Odile Renaud-Basso and other members of the Bank's senior management.

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Egypt’s Prime Minister Mostafa Madbouli met IFC and EBRD officials on Tuesday to discuss potential cooperation in the sweater desalination field. Managing Director, SEMED Heike Harmgart represented the EBRD at the meeting.

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Social media

Barbara Rambousek talked about global progress made on gender equality in a short video 

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We highlighted EBRD’s inspiring women leaders for IWD 2021

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We showed how women-led Business are thriving against the odds (with EBRD support)

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We promoted Barbara Rambousek’s new IMF paper "Gender Equality and Inclusive Growth" in polls 

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Charlotte Ruhe spoke about her experience of «breaking the ceiling» 

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Maria Mogilnaya has been named by Trade Finance Global (TFG) as one of 47 selected Women in Trade 2021

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We highlighted our colleagues who stand behind the Migros deal

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