Green transition and the Covid-19 crisis in the EBRD regions

By Radu Cracan, Ana Kresic, Anna Vasylyeva, Jakov Milatovic & Arda Sahinkayasi

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The Covid-19 pandemic has severely affected the global economy, including the regions in which the European Bank for Reconstruction and Development invests, where gross domestic product contracted sharply almost across the board in 2020. In response, fiscally constrained governments have focused largely on liquidity and jobs, supporting vulnerable groups and safeguarding their economies. With a gradual move from rescue to recovery likely in 2021, many policy analysts are calling for a green recovery to spur economic growth and redirect financial flows in support of more sustainable, Paris Agreement-aligned pathways.

This note provides a snapshot of the policies and investments that governments in EBRD investee economies have implemented to support their green economy transition. As of February 2021, there was only limited evidence of governments advancing dedicated green recovery facilities, apart from the European Union member states, who will accelerate their green transition amid the push through the EU recovery plan.

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