EBRD gets ready for its 30th Annual Meeting
Ministers and leading officials will be gathering next week to take critical decisions aimed at improving the environment and economies covered by the EBRD. The Bank’s Annual Meeting and Business Forum takes place in the 30th anniversary year of the institution.The EBRD is moving from its emergency response to the Covid-19 pandemic to providing longer-term help for countries.
EBRD steps up green activities
€60.4 million loan for Polish windfarms
Poland is accelerating its transition from fossil fuels with the development, construction and operation of two windfarms with a local currency loan of PLN 275 million (€60.4 million equivalent) from the EBRD. The first project is the 81.4 MW Banie 3 development in northwestern Poland, where 37 turbines will be built. The second is at Sepopol in north-eastern Poland, where 20 wind turbines will be constructed with a capacity of 44 MW.
Supporting sustainable energy in Tajikistan
In Tajikistan, the EBRD and the Asian Development Bank (ADB) are contributing towards the greater efficiency of Shabakahoi Taksimoti Bark (STB), a state-owned power utility responsible for electricity distribution, with a financial package of US$ 110 million to fund the introduction of advanced metering and grid enhancements in seven municipalities across the country.
Supporting CTP’s green Eurobond issue
The EBRD has invested €42.5 million in a €500 million green Eurobond issue by real estate company CTP NV to support its portfolio expansion, increasing the supply of green real-estate stock across Hungary, Poland, Romania, Serbia and the Slovak Republic.
Albania launches first tender for wind power
Albania launched its first tender for utility-scale onshore wind power plants this week. Individual projects with a capacity of between 10 MW and 75 MW can apply. Several projects will be chosen. The total tendered capacity equals 100 MW and this may be increased to 150 MW in the coming months, in line with the country’s renewable energy targets. Developers are invited to submit their submissions by mid-June 2022. The announcement of the successful bidders is expected in the first half of 2023.
Matteo Colangeli, EBRD Head of Western Balkans, said: “We are delighted with the progress Albania is making on scaling up wind and solar energy through open and transparent tenders. This is another milestone for the diversification, resilience and sustainable development of the country’s energy sector.”
EBRD Paris Alignment webinar
An EBRD Paris Alignment webinar for CSOs heard comments on our new methodology for assessing how projects fit with our Paris Alignment criteria.
New EBRD reports published
Annual Review and Sustainability Report 2020 published
The EBRD published its Annual Review 2020, describing the impact of its investments, projects and policy work amid the Covid-19 crisis. The Bank also released its Sustainability Report 2020, exploring the ways the EBRD made a difference to the daily lives of millions of people across three continents in its countries of operations.
First GRI Disclosure Report published
The EBRD also published its first stand-alone GRI Disclosure Report. The Bank applied the Global Reporting Initiative Standards to structure its content. It is intended that this disclosure will enable stakeholders to gain a comprehensive overview of the EBRD’s approach to environmental, social and governance issues in one place.
Joint bid to fight financial crime
The EBRD and the Association of Certified Anti-Money Laundering Specialists (ACAMS) joined forces to safeguard the banking and trade-finance sectors in Eastern Europe, the Caucasus and Central Asia. The partners launched the ACAMS Eurasia Chapter to support compliance professionals in countries of the region.
Childcare for working women
The EBRD, the International Labour Organization and the Union of Municipalities of Turkey are joining forces to promote more accessible childcare with the view to encouraging women’s participation in the labour force. The partners will work to improve the municipal regulatory environment in childcare matters, to advocate change among policymakers and to support the implementation of these new approaches in selected municipalities, paving the way for broader policy reform.
Improving water services in Kyrgyz Republic
Six water companies in municipalities across the Kyrgyz Republic will be able to improve their water and wastewater maintenance services thanks to the delivery of new specialised equipment funded through a financial package of up to €2.4 million provided by the EBRD, the European Union, the European Investment Bank and the Global Environment Facility.
A new US$ 4 million contribution from South Korea for various EBRD funds will further strengthen our partnership & help have greater impact across our regions.
UN Sustainable Gastronomy Day
The EBRD celebrated UN Sustainable Gastronomy day with FAO. This is an example of how, together with the EU, the Bank is supporting the olive sector to ensure its sustainability in Tunisia while also boosting SME competitiveness.
EBRD in the news
A blog post for the Atlantic Council by the American Chamber’s Andy Hunder quotes Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus as saying: “More developed, less fragmented capital markets and organized commodity markets can and will attract investors in stocks, bonds, mutual funds, exchange-traded funds, and others. At the same time, they will allow Ukrainian companies and citizens the chance to share in their country’s economic growth, as domestic markets become better integrated with the global financial ecosystem.”
Mateusz Szczurek, lead economist for central and south-eastern Europe at the EBRD, takes an upbeat view on the Czech Republic’s ability to manage Covid-19 related challenges in the Banker magazine: “As the global automobile sector moves towards electric and hydrogen vehicle production, it’s quite possible that the Czech Republic will be able to make a success of the shift,” he says. “The structure of the Czech economy is the most important factor in supporting the recovery. There is a reshaping of global value chains that could benefit advanced industrial centres like the Czech Republic.”
Turkey’s financial daily Dunya reports on a joint investment by the EBRD and Actera, a Turkey-focused private equity firm, in Martı, the country's leading electric scooter sharing initiative.
Learn more (in Turkish)
The EBRD on social media
We have been promoting next week’s Annual Meeting and Business Forum very actively.
We told our audiences how to watch the event.
We’ve been previewing the Business Forum panels:
Vice President Pierre Heilbronn met CEI Foreign Ministers
With Pride Month coming to an end, we reposted EBRD Spectrum picture from the past
Our Global Reporting Initiative was very popular on LinkedIn
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