EBRD newsletter - Friday 14 May

By EBRD  Press Office
@ebrd

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EBRD President on virtual visit to Romania

EBRD President Odile Renaud-Basso paid her first official visit to Romania this week in virtual format. Her meetings with the government, private sector, international financial institutions and civil society focused on the post-Covid-19 recovery and the ways EBRD investments can support the country’s rebound and complement European Union funds. “Romania is one of the fastest-growing economies in the EU and has huge potential to unleash”, the President said.

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First green bond issued by bank in Romania

The EBRD President’s visit was accompanied by the first green bond issue in the country to date issued by Raiffeisen Bank Romania. The EBRD invested RON 53 million (€11 million equivalent) in the senior preferred green bond, reinforcing the Bank’s position as a leader in green finance and a strong supporter of capital markets. EBRD Regional Director Mark Davies hailed the successful placement: “This pioneering move will pave the way for the creation of more securities intended to support sustainability, as the strong market reaction indicates.”

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Investing in Latvenergo green bonds

The EBRD supported a €50 million green bond issuance by Latvenergo AS, Latvia’s state-owned energy utility, by acting as an anchor investor. The new funds will support the integration of more renewable sources into Latvia’s electricity network, especially small and medium-sized solar and wind projects as well as increasing the reliability of the country’s energy supply.

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Backing real estate green bond in CEE

The EBRD subscribed to a €24.7 million ticket as part of an inaugural five-year €300 million green bond issuance by MAS Securities BV, an investor and operator of predominantly retail real-estate assets. The funds will be used to acquire properties and the development of green and sustainable retail and residential assets, predominantly in Romania and central and eastern Europe.

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More support for SMEs in North Macedonia

The EBRD is extending its SME Competitiveness Programme in North Macedonia by providing a €1 million loan to Sparkasse Leasing for on-lending to local SMEs for funds to invest in upgrades, including in technology, equipment or vehicles, with a view to reaching EU standards, particularly those related to product quality and safety, health and safety, and energy efficiency.

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Warsaw Stock Exchange adopts ESG guidelines

Drafted in collaboration with the EBRD, the Warsaw Stock Exchange has published its first set of ESG (environmental, social, governance) reporting guidelines for investors and listed companies together with a reporting manual. “The guidelines aim at supporting the transition to a climate-neutral, green, competitive and inclusive economy and position Warsaw Stock Exchange as a sustainability leader in the region,” said Grzegorz Zieliński, EBRD Regional Director, central Europe and the Baltics.

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Donors

Monthly donor update

Check out this month's #EBRDdonors newsletter featuring our top donor stories and video of the month, a spotlight on some of our colleagues’ favourite donor projects, and much more…

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EBRD in the news

EBRD President Odile Renaud-Basso spoke at Delphi Economic Forum and highlighted the Bank's work in Greece and the Covid-19 response. The Delphi Economic Forum is Greece’s most high-profile gathering that brings together political decision makers, business representatives and opinion formers from the country, the region and Europe. The EBRD President also set out how the Bank helps build back better, while prioritising green, inclusive and digital investments.

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In an interview with the Egyptian business newsletter Enterprise, President Renauld-Basso and EBRD Managing Director for the southern and eastern Mediterranean, Heike Harmgart, set out the Bank’s plans for the greening of the country’s economy. “The priority now must be a long-term strategy”, they emphasised.

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EBRD President Odile Renaud-Basso and the Governor of the National Bank of Ukraine, Kyrylo Shevchenko, discussed the situation in the country’s financial sector, the macroeconomic policy to support the economy and the financial sector in the context of the coronavirus pandemic.

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EBRD in social media

EBRD Director of Research, Ralph De Haas, wrote for Vox on how microcredits can become a more effective tool for increasing living standards

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The EBRD supported Mental Health Awareness week

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EBRD President shared her thoughts on mental health awareness on LinkedIn

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EBRD President Odile Renaud-Basso and the Managing Director for the southern and eastern Mediterranean, Heike Harmgart, spoke on Egypt’s green economy to Enterprise news outlet.

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