EBRD newsletter - Friday 09 April

By EBRD  Press Office
@ebrd

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EBRD President Renaud-Basso pays virtual visit to Kazakhstan

Over the course of three days, EBRD President Odile Renaud-Basso virtually met with Kazakhstan’s senior leadership, including Prime Minister Askar Mamin and First Deputy Prime Minister and EBRD Governor Alikhan Smailov. During her engagement, President Renaud-Basso also spoke to private-sector investors and representatives of the diplomatic core, and hosted a round table for women entrepreneurs.

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EBRD and Kazakhstan sign five-year cooperation agreement and set to reach carbon neutrality by 2060

The EBRD and the government of Kazakhstan agreed a five-year Enhanced Partnership Framework Arrangement (EPFA) to boost the resilience, modernisation, digitalisation and regional integration of the national economy, with a view to speeding up its recovery following the Covid-19 pandemic.

Another milestone agreement concerns the development of a long-term cooperation strategy to achieve carbon neutrality of the country’s power sector by 2060. The accord will further cement Kazakhstan's status as a regional renewable energy leader in Central Asia.

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EBRD appoints Zsuzsanna Hargitai new Managing Director, Central Asia

Zsuzsanna Hargitai, currently EBRD Regional Director, Western Balkans, has been appointed new Managing Director, Central Asia, for the Bank. Starting in mid-May she will oversee the Bank’s operations in Kazakhstan, the Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan and Uzbekistan. To date, the Bank has invested US$ 16.5 billion (€13.7 billion) through almost 890 projects in the region.

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Matteo Colangeli appointed new EBRD Director for Western Balkans

Following Zsuzsanna Hargitai in Belgrade as Director for the Western Balkans region and Head of Serbia will be Matteo Colangeli, currently Head of Albania. He will oversee the Bank’s operations in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia.

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ESG importance continues rise in investors’ weighting despite Covid-19 pandemic

Despite the severe impact of the coronavirus on the global economy, the influence of environmental, social and corporate governance (ESG) issues on investor decision-making continues to grow in the economies where the EBRD is active, shows a new study titled The Investor Base of Securities Markets in the EBRD Regions. The study is now fully available and will be presented in a panel discussion on 22 April at 14.00 BST. 

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EBRD and AIIB streamline co-financing procedures

The EBRD and the Asian Infrastructure Investment Bank (AIIB) are streamlining their cooperation to promote economic development and investment across countries where both institutions are active. A new co-financing framework agreement that will enable the banks to harmonise their operational policies and procedures was signed by EBRD President Odile Renaud-Basso and AIIB President Jin Liqun this week.

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Policies to make cities greener

The EBRD published a new report and launched a new website offering easy access to a library of over 35 policy instruments that promote sustainable urban development that illustrates these measures through practical examples from more than 50 case studies across the world. Together with partners from academia and industry, the EBRD has developed these knowledge products to assist decision-makers in addressing urban challenges through evidence-based policies.

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Project signings

First recycling plant for electric car batteries in the EU with EBRD finance

With the help of a €25 million EBRD loan, Poland will become the first country in the EU to host a plant for the recycling of batteries of electric cars. The facility by Elemental Holding S.A. will also be equipped for the recycling of platinum-containing catalysers and other waste containing metals from conventional cars.

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Supporting KESH's first floating solar photovoltaic plant in Albania

Albania is making rapid progress with its plans to meet renewable energy targets, with the construction of a 12.9 MW floating solar photovoltaic (PV) farm thanks to a €9.1 million loan provided by the EBRD. The farm will be the first floating solar plant of this size in Albania and the Western Balkans.

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EBRD-supported tender in Albania delivers competitive price for solar power

The French renewables company Voltalia has won the contract for the construction and operation of a 100 MW solar plant in Albania, in the second solar tender launched in the country. It builds on the success of a previous bidding for solar power at site of Karavasta, where Voltalia won the tender to build and operate a 140 MW solar plant. The EBRD supported both tenders by providing technical assistance.

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New trolleybuses hit the road in Balti, Moldova

In Moldova, commuters in Balti, the second largest city in the country, can now travel on 11 new trolleybuses funded by the EBRD and the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund. The municipal trolleybus company received a €2.5 million EBRD loan and a €1.2 million grant from the E5P to promote greener public transport.

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Supporting crisis recovery in Morocco

In Morocco, the EBRD and the EU are stepping up their support for businesses with a €6 million loan to Lamatem, a Moroccan producer of high-‎end ‎medical garments. The financing will help the company to increase its exports to European markets.

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Boosting competitiveness of small businesses in North Macedonia with EU

In North Macedonia, the EBRD is providing a loan of up to €2.5 million to Komercijalna Banka AD Skopje for on-lending to local businesses for investments towards reaching EU standards. Small businesses will also benefit from financial incentives of up to 15 per cent of the loan amount, provided by the EU.

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Supporting food and beverage manufacturer Avrora in Azerbaijan

In Azerbaijan, the EBRD is strengthening the agribusiness sector with a €25 million loan to Avrora LLC, a leading producer of pasta, confectionery, soft drinks and flour products, to finance a new pasta production line and the acquisition of new equipment for the production of biscuits, cakes and animal feed.

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International shareholders increase stake in Tajikistan micro lender IMON

Tajikistan’s leading micro lending institution, Imon International, will continue providing financial services to more than 100,000 micro businesses and individual borrowers across the country thanks to an equity investment from the EBRD and the Dutch entrepreneurial development bank FMO worth US$ 5.4 million to acquire a stake of 43.5 per cent. As a result of this transaction and in compliance with the National Bank of Tajikistan’s regulations, the EBRD and FMO will each own 17.9 per cent, while Mikro Kapital will become the largest shareholder with a stake of 42.7 per cent.

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Donors

Read a compilation of stories from our #EBRDdonors on our monthly Donor Update

Read here

Albanian organic food store MIA improves safety and sustainability

Migena Malo runs MIA, an organic grocery store in Tirana’s city centre whose crates of fresh fruits and vegetables put nature’s bounty on display for locals and tourists alike. An advisory project supported by the EBRD and the European Union’s Western Balkans Enterprise Development and Innovation Facility (WB EDIF) helped MIA implement organic food standards and strengthen its brand on the local market.

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Round-the-clock water supply changes lives in Tursunzoda, Tajikistan

The Central Tajikistan Water Rehabilitation Project, supported by the EBRD, the EU and the government, has upgraded the water supply systems of four cities: Tursunzoda, Gissar, Shakhrinav and Somonyion. The total financing of US $18 million comprised an US$ 8.4 million grant from the EU, and a US$ 7 million loan and US$ 2.6 million grant from the EBRD.

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Helping Serbia align its water and wastewater systems with EU standards

With the support of the European Union and the Western Balkans Investment Framework, the EBRD helped Subotica to construct new water and wastewater treatment plants, and to extend sewerage and water networks to cover more households.

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EBRD on social media

The Bank rolled out its 30th birthday Instagram mask and Facebook frame.

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We began promoting the 2021 Annual Meeting with a ‘save the date’ post.

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