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EBRD newsletter - Friday 26 February

By EBRD  Press Office

EBRD President visits Germany

During a one-day visit to Berlin EBRD President Odile Renaud-Basso briefed the German Bundestag on the Bank’s activities during the coronavirus pandemic and its role in Europe’s development architecture. In an interview with the business daily Börsen-Zeitung she said: “We already have a lot of institutions. The idea is not to create a new one, but make the existing ones work together more closely”. She also gave an interview to Deutsche Welle and stressed: “The focus on the private sector and reform support through policy are components which make the EBRD special”.

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EBRD helps Uzbekistan to reach milestone in power sector reform

In an interview with the trade publication IJ Global, the EBRD’s Veronika Krakovich, explained how the Bank is supporting Uzbekistan’s new approach to the power sector. The country has adopted a carbon-neutral policy and is ramping up its investments in renewables. One first milestone is the 100 MW Nur Navoi solar plant, which the EBRD is co-financing with US$ 60 million. “This first project confirms the government’s ambitious plans,” Ms Krakovich said.

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EBRD Innovation Challenge winners announced

The EBRD announced the five winners of its first first Start-up Innovation Challenge to recognise small businesses response to the Covid-19 pandemic. The winners were the Egyptian start-up 1Trolley, an on-demand service, Otsimo from Turkey, an education platform for children with special needs, Fazla Gıda from Turkey, a surplus management platform which helps to mark products for expiry, Plant an App from Romania, a low-code development platform that accelerates delivery of software systems by a factor of up to 40 times and EMBIO Diagnostics Ltd from Cyprus, a multi-use handheld chemical analyser that within minutes can accurately detect harmful chemicals in food.

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Project signings

New metro cars to help link residential district of Kyiv with centre

In Ukraine, a new €50 million loan by the EBRD for the capital Kyiv to finance the acquisition of new metro cars will encourage more people to use modern, efficient and environmentally friendly public transport.

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Financing water and wastewater upgrades in Bulgaria

In Bulgaria, the EBRD and the EU are providing financing for an upgrade of the water system in the Stara Zagora and Vratsa regions. The EBRD is providing a €3.7 million loan from its own resources, complemented by a €2.4 million loan from the EU’s European structural and investment funds (ESIF) and EU grants.

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Promoting continuous learning in Central Asia

The EBRD cares about the countries where it invests and the people who should benefit from it: Tatyana’s story is one with humble beginnings. She joined KMF, the largest microfinance organisation in Kazakhstan, as a cashier. But hard work, commitment and a learning programme supported by the EBRD and the European Union (EU) have helped her settle into her new position.

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Supporting Montenegro’s first one-stop-shop for home renovation

From hinges to home decor, OkovMontenegro’s first major home retailer – boasts a huge selection of home goods and tools that come in handy whenever repairs or renovations are in order. Business expertise and donor support from the Small Business Impact Fund help Okov overcome barriers to growth.

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The EBRD on social media

The 7th Sustainability Finance Forum was held in Turkey, where the EBRD Managing Director for Turkey, Arvid Türkner, spoke about the country’s circular economy.

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EBRD Director, Gender & Economic Inclusion Barbara Rambousek spoke at an event hosted by ACCA, a global accountancy firm, about opportunities for people with disabilities.

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