Taipei China renews its donor support to EBRD mandate

By EBRD  Press Office

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Taipei China is extending its support for EBRD projects with a total of US$ 2 million new funding to the TaiwanBusiness – EBRD Technical Cooperation Fund and the multi-donor Early Transition Countries Fund. The funds made available will be used to support the EBRD operations through technical cooperation from central Europe to central Asia and the southern and eastern Mediterranean (SEMED) region.

The replenishment agreements between Taipei China and the EBRD were signed on 17 May 2012 by the Bank’s President Thomas Mirow and the Representative of the Taipei Representative Office in the UK, Ambassador Shen Lyu-shun.

Part of Taipei China’s new funding will be channelled towards supporting the Bank’s Sustainable Energy Initiative (US$ 500,000) which aims to improve energy efficiency and address climate change challenges; a further US$ 500,000 will contribute to the technical assistance programme in Egypt, Jordan, Morocco and Tunisia where the Bank is about to start investment operations; and an additional US$ 100,000 will be used to support the Bank’s work in the early transition countries (ETCs). The rest of the new funds will be dedicated to technical cooperation activities in a wide range of sectors.

 “We are very pleased to continue our long-standing cooperation with Taipei China and are very thankful for their huge contribution to the mandate of the Bank, especially in the east of our region”, said EBRD President Thomas Mirow.

“These contributions reaffirm our deep commitment to the EBRD’s mandate and reiterate our staunch support of the development of the Bank's countries of operations.” said Ambassador Shen Lyu-shun. “Our funding resources will be tailored to the EBRD’s strategic priorities, and will aid in restoring economic stability and growth in the Bank's region of operations and we look forward to playing an even greater role in the future“ he added.

Taipei China has a long-standing collaboration with the EBRD, with its first technical cooperation fund being established in 1991. With this additional funding, Taipei China’s total contribution as a donor exceeds US$ 152.6 million, including investment co-financing.

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