EBRD President Mirow visits Taiwan

By EBRD  Press Office

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EBRD President Thomas Mirow will arrive in Taiwan on 5 April 2011 for a two-day visit. President Mirow will meet with Vice President Vincent C. Siew, Vice Premier Sean C. Chen, Minister of Foreign Affairs Timothy Yang, Governor of Central Bank Fai-Nan Perng, Finance Minister Sush-Der Lee and other high ranking members of government of Taiwan.

The meeting will focus on opportunities for closer cooperation in the EBRD countries of operations from Central Europe to Central Asia. During his stay in Taipei, Mr Mirow will also deliver a keynote address about “The Road to Economic Stability and Growth: A European Perspective” and visit the information and communication technology establishment.

During his visit, President Mirow and Foreign Minister Timothy Yang will sign a memorandum of understanding about a US$4 million replenishment of Taiwan’s contribution to the EBRD’s technical cooperation funds. Mr Mirow and Secretary General Wen-Lung Tao of the International Cooperation Development Fund (TaiwanICDF) will also sign a memorandum of understanding about a contribution of US$80 million by Taiwan’s development agency to the EBRD’s newly established Green Energy Special Fund.

The Green Energy Special Fund aims to make the installation of energy efficient, green technologies more affordable, especially at the level of municipalities. Contributions from the Green Energy Special Fund are expected to play a vital role in encouraging especially municipalities to introduce low-carbon solutions in connection with EBRD loans to the sector. The Fund will also consider the financing of private companies under Public Private Partnership or Private Finance Initiative arrangements if market conditions are adequate.

“We are grateful to Taiwan for its technical cooperation support and for its crucial role in providing the Green Energy Special Fund with the financial means to make it operational and successful”, President Mirow said. “This is another fine example of the cooperation between the EBRD and Taiwan and I very much look forward to deepening our relationship during my visit.”

Taiwan, a trusted development partner, has provided vital support to the EBRD since the Bank’s establishment in 1991. Funding for technical assistance through the TaiwanBusiness - EBRD Cooperation Fund has benefited all countries of operations and stands at some US$30 million for more than 200 projects to-date.

Over the years, Taiwan has also contributed to the EBRD Balkan Region Special Fund, the Mongolia Cooperation Fund, the Early Transition Countries Fund and the Sustainable Energy Initiative. TaiwanICDF became a co-financier in EBRD projects in 1994 and to-date has provided some US$48 million to the Bank’s investments with a focus on the development of small and medium-sized enterprises.

In recent years Taiwanese companies have significantly increased their activities in the EBRD region. President Mirow will use his visit to intensify this successful relationship and reaffirm the Bank’s commitment to working with Taiwanese businesses in its countries of operations where their expertise and know-how remain highly welcome.

The EBRD, owned by 61 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from central Europe to central Asia. www.ebrd.com

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