EU/ERBD News
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Second €6 million loan to strengthen lending capacity of key microfinance institution
The EBRD is providing a new €6 million loan to Mikrokreditna organizacija EKI, the third largest microfinance institution in Bosnia and Herzegovina (BiH), to help EKI expand its lending activities and further develop the organization.
The loan, which will be...
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Chernobyl to benefit as Bank opens the way for continued high quality lending
After many months of considering how best to allocate the Bank’s 2007 net income, the Board of Directors this week paved the way for future years of high quality investments, creating the capacity to sustain the Bank's operations around last year's record volumes. Its...
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In the latest in a series of projects with Russian steelmaker Severstal, the EBRD is providing a € 600 million package to help finance a range of energy efficiency measures at the company’s Cherepovets plant.
With its colossal appetite for power and heat, the steel industry is a prime target for energy-saving initiatives and nowhere is this truer...
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Plant to supply beer, wine and mineral water producers in Southern Russia and North Caucasus
The European Bank for Reconstruction and Development is providing a total of €52.5 million in debt and equity financing to support the construction of a Greenfield bottling plant in the southern Russian region of Krasnodar by Turkey’s largest glass packaging...
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€22.6 million for extension, development of Albania’s only airport
The EBRD is extending a loan of €22.6 million for the further development and modernisation of Tirana International Airport (TIA). The project includes extending the new passenger terminal, construction of additional airport buildings and investment in new ground handling...
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New transmission line brings reliable power supply to central Ukraine and its capital
The EBRD is providing a €150 million to Ukraine to be on-lent to the national power company Ukrenergo to improve substantially the efficiency, quality and reliability of electricity generation and transmission in western and central Ukraine.
Proceeds from the loan,...
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300,000 people in 9 municipalities to benefit from €5 million credit
The EBRD is lending €5 million to the Duboko Waste Management Company to build a regional solid waste landfill that will serve more than 300,000 people in nine municipalities across central and western Serbia.
Inadequate solid waste treatment is one of the biggest ecological...
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Can you imagine life without a telephone or, even worse, without your mobile? Three out of four Moldovans currently have no fixed telephone line at home, while only a third of the population has a mobile phone subscription. Computer and internet coverage in Moldova is also at an early stage, with surveys showing that out of a population of 3.6 million, only...
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€10 million EBRD loan for Raiffeisen Leasing Croatia
To support the expansion of leasing to small and medium-sized enterprises in Croatia the EBRD is providing a €10 million loan to Raiffeisen...
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Investment to strengthen cross-border expansion
The EBRD has taken equity stakes of up to 15 percent each in the Ukrainian subsidiaries of Polish building materials companies Barlinek and Cersanit to...
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Loan to finance expansion and branded ‘ready-meals’
The European Bank for Reconstruction and Development has agreed to lend the privately-owned Azbuka Vkusa, one of Russia’s leading supermarket chains, with a $50 million 9-year loan to finance the expansion of retail operations and the establishment of a state-of the art ready-meals production...
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Credits part of wider EU financing framework for Bulgaria and Romania
The EBRD is launching its first ever credit facility to finance energy efficiency projects by private industrial companies in Romania.
Under the new framework, the Bank will make loans to the banking sector which will then provide credits to private firms. Three loans have already been...
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€7 million credit provides long term financing for new projects
The EBRD is supporting the development of the market in Bulgaria to promote energy efficiency, with a loan to the Bulgarian ESCO Fund – Energetics and Energy Savings Fund SPV (EESF), a special purpose company to finance the energy services business of Enemona AD, a construction and...
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€134 million investment marks start of long-term strategic partnership with Russian Railways
The European Bank for Reconstruction and Development has agreed to acquire a minority equity stake in TransContainer, Russia’s biggest operator of rail containers responsible for handling over half of the country’s container traffic.
The €134...
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€11.2 million loan to improve energy efficiency
The EBRD is providing a €11.2 million loan to CherkasyTeploKomunEnergo (CTKE), the municipally-owned district heating company of the Ukrainian city of Cherkasy.
The finance will be used for investments aimed at improving the energy efficiency of the local district heating network. After years of...
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The Russian Venture Company, the Tamir Fishman Group and the European Bank for Reconstruction and Development have decided not to proceed with the creation of the proposed Tamir Fishman Russian Venture Capital Fund, following statements by a minority shareholder in the Fund’s management company. All three were investors in what was to be a fund...
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The European Commission expects Poland's general government deficit to be below 3% of GDP this year. But, at the same time, it is expected to rebound above 3% in 2008, according to the Commission's autumn economic forecasts based, inter alia, on the draft budget adopted by the outgoing government, the EC said.
This calls for additional measures to put...
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Steel producer Arcelor Mittal is to further invest in its Polish operations in a bid to meet growing demand for its products within the region.
Steel is becoming increasingly important to food and beverage companies as part of an increasing focus by industry and governments for sustainable packaging.
With the construction of its new Steel Service centre...
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VIENNA - Central Europe has evolved from a collection of Soviet Communist satellite states into the most dynamic part of the capitalist European Union in less than a generation. While dwarfed by neighbor Russia and by China and India, its countries now combine the vibrant economic growth of an emerging market with the political stability and legal certainty...
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Distribution of EU funds in Poland seen as flawed by local officials
October 18, 2007
The selection of projects for billions of euros of EU funding in is widely perceived by Polish municipalities to be politically-driven and non-transparent, new research conducted by Bankwatch member group the Institute of Environmental Economics (IEE) has found. The alarming...
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EBRD is investing $57.6 million to support the Georgian Reconstruction and Development Company (GRDC) in its programme to bring international standards of real estate development to commercial property projects in the Georgian capital of Tbilisi.
With a loan of $42.6 million and the purchase of a 21 percent stake worth $15 million, the EBRD financing will...
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20 million to support local malt production and barley farming
The EBRD is investing €20 million to finance the construction of a greenfield malt plant in the city of Buzau in south eastern Romania...
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The EBRD is building on its pioneering work to develop sustainable sources of energy throughout the EBRD region with its first investment in a pan-regional renewable energy fund.
The Bank signed an agreement today to invest up to €25 million in an equity fund targeting investments primarily in renewable energy, but also in energy efficiency, across...
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Bank signs Memorandum of Understanding with development fund Kazyna
Building on a strong and successful cooperation the EBRD and Kazakhstan are intensifying their activities. During his first visit to the country, EBRD First Vice President Varel Freeman has signed a Memorandum of Understanding with Kairat Kelimbetov, CEO of the Sustainable Development Fund...
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The EBRD has signed an agreement with Prva Pokojninska Druzba (“Prva”) , Slovenia in March for an equity investment worth €8 million which will provide further funds for the establishment and expansion of Prva’s pension fund and asset management subsidiaries in southeastern Europe (Serbia, Kosovo, Montenegro, Albania, Romania and Ukraine)...
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The EBRD has adopted its first strategy for Montenegro, which joined the Bank as an independent country last year.
The EBRD, south-eastern Europe's largest institutional financial investor, has been active in Montenegro since 2001, when the country was still in a union with Serbia. Following its independence on 3 June 2006, all EBRD shareholders accepted...
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New funding opportunities for regional small business
The European Bank for Reconstruction and Development is providing a $20 million loan to Kharkiv based Megabank. The loan, which is the first significant transaction for the EBRD in Kharkiv, will be used to provide long term financing to domestic micro, small and medium businesses.
This project will allow...
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Bank helps municipal water network in Timisoara transform into regional commercial company
The EBRD is restructuring an earlier €11.52 million loan to Regia Autonoma Aquatim to support the consolidation of the Timisoara-based municipal water utility and its transformation into a commercial regional company.
As a result, the company will also extend its...
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Equity stake and loan promote private sector role in district heating
The EBRD has signed a subscription agreement and a shareholders agreement related to its expected €5 million equity investment in E-Energija, a private Lithuanian energy company, to promote private sector growth in the heating and hot water service sectors. The EBRD also intends...
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The EBRD has signed an agreement to acquire 9.8 per cent stakes in two Romanian energy holding companies, which are majority-owned by ’s E.ON Group, a leading global private sector energy company.
Through this transaction EBRD shall have an indirect five per cent stake in E.ON Gaz , a gas distribution company supplying northern . It shall also have an...
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$10 million loan to help firms needing to lease commercial vehicles and printing equipment
The European Bank for Reconstruction and Development has provided a $10 million loan to Element Leasing, part of the Basic Element group, to support small enterprises needing to lease business equipment, including commercial vehicles, in the regions of Russia.
The...
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More support for Bulgarian SMEs, green and municipal projects
The EBRD and Piraeus Group, one of the leading Bulgarian banking groups, are teaming up to increase support for small and medium-sized enterprises (SMEs), energy efficiency and renewable energy investments, as well as infrastructure projects in small and medium-size municipalities, with grant...
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Consortium Novarka to build New Safe Confinement Holtec International to complete Spent Fuel Storage
International efforts to make the scene of the 1986 Chernobyl nuclear accident environmentally safe have taken a major step forward. Today Chernobyl Nuclear Power Plant signed two important contracts, one to build a new steel structure to seal off the damaged...
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Skills for ’s mining sector
Government and EBRD launch training programme
The Mongolian government and the EBRD have launched a training programme to raise the quality of management skills in the fast-growing Mongolian mining industry.
Under the programme, led by ’s Mineral Resources and Petroleum Authority and the Bank, 30 delegates from government...
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€15 million to Raiffeisen Leasing Romania to support local entrepreneurs
The EBRD will provide a €15 million loan to Raiffeisen Leasing Romania, part of Raiffeisen Leasing International,...
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The European Bank for Reconstruction and Development and the Government of Ukraine have signed an agreement that will significantly boost EBRD investments in the Ukrainian public sector over the next three years.
The additional funds will be dedicated to financing a much-needed modernisation of ’s transport, power and municipal infrastructure, and will...
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Major upgrades of metro, bus and trolleybus passenger transport to take place
In its first long-term financing for municipal transport in Ukraine, the European Bank for Reconstruction and Development is providing €100 million to municipal transport companies Kiev Metropolitan (metro) and Kiev Pastrans (buses and trolleybuses).
A €40 million loan...
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Privredna Banka joins EBRD’s Trade Programme
Importers and exporters in Serbia will have more opportunities to finance their foreign trade business under a €2 million trade finance line granted by the EBRD to Privredna Banka, a small to medium-sized commercial bank in Serbia. The facility will be used for guarantees in order to support trade in...
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Local enterprises to benefit from €12 million credit to ACBA Credit Agricole Bank
The EBRD is making its first syndicated loan in Armenia with a €12 million credit to ACBA Credit Agricole Bank CJSC targeting the growing financial requirements of local entrepreneurs, especially in rural and remote areas, thanks to a rapidly growing economy.
The...
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Finance to Banca Transilvania to help promote private sector growth
The European Bank for Reconstruction and Development is continuing to support the growth of Romanian micro enterprises and start-up businesses via a new loan for Banca Transilvania (BT), the largest and fastest growing locally-owned Romanian bank.
The finance includes the first commercially...
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Bijeljina project cuts water pollution, reduces health hazards
The EBRD is lending €7 million to the water authorities in the town of Bijeljina, in the Republika Srpska, to help finance construction of a waste water network that will reduce water pollution and cut health hazards in the city in Bosnia-Herzegovina.
A further €4.5 million will be...
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Loan to improve important links in primary road network in the country
The EBRD is lending €75 million to the state of Bosnia-Herzegovina for the rehabilitation and reconstruction of key sections of the primary road network across the country. The loan will increase the efficiency of the road transport services by improving important links in the road...
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Local currency loan to Efes Karaganda Brewery
The EBRD is lending 5.2 billion Tenge (€31.7 million) to Efes Karaganda Brewery JSC (“Efes ”) to support its expansion in . The transaction will be the first EBRD fixed interest rate loan denominated in Tenge.
Speaking at the signing ceremony at Efes Breweries International N.V.’s (“EBI”)...
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Bank and Ministry of Economic Development sign memorandum of understanding
The European Bank for Reconstruction and Development and the Russian government have agreed to work together on identifying priority projects eligible for financing by the Bank in the field of transport, power and municipal services as part of a massive drive to renew the country’s...
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The EBRD has sold its equity stake in the Hungarian automotive group Rába Magyar Vagon- és Gépgyár Rt. The 10.85 per cent-stake was sold at the Budapest Stock Exchange on Wednesday, following a ten-year involvement by the Bank with Rába.
The Bank bought its stake in Rába in 1997 and was part of the successful privatisation...
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$55 million to support expansion of Kagazy Recycling
The EBRD is providing the equivalent of $55 million in long-term financing to Kagazy Recycling LLP to help the Kazakh private company complete the restructuring and expansion of its paper business.
Kagazy Recycling is part of the fast-growing Kagazy Group, whose operations include a range of businesses...
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The European Bank for Reconstruction and Development is providing an $8.8 million loan to Slobozhanska Budivelna Keramika (SBK), a leading facing and ceramic brick producer in Ukraine. Loan proceeds will contribute to SBK’s investment programme, which envisages construction and launch of a greenfield plant for porous brick production blocks in Kiev...
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Conference to discuss improvements of regulatory framework
As part of its ongoing support for the telecommunications sector in the Kyrgyz Republic, the EBRD is sponsoring a a conference in Bishkek on Thursday, June 21, 2007, in association with the National Communications Agency, the country’s telecommunications regulator. The conference will discuss...
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Mayors agreed with Mikhail Slobodin of Integrated Energy Systems, ’s largest private sector district heating provider, who argued that the energy sector requires long-term loans for modernisation that will yield energy savings. “EBRD is one of the few lenders providing long-term loans,” said Mr Slobodin. “Long-term loans are the best incentive...
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Private operators and mayors also debated ways of modernising urban transporant to achieve energy savings. The Deputy Mayor of Zagreb, , explained how the city had improved the bus and train system and was now moving to upgrade the underground system. David Alavidze, Deputy Mayor of Tbilisi, , has high hopes for using public private partnerships to modernise...
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With energy efficiency now at the core of EBRD operations, the Bank’s Annual Meeting brought together mayors from Belgrade in to Surgut in to discuss ways in which municipalities can cut energy costs and improve related services. Countless opportunities exist to do so, particularly in modernising district heating and public transport, the Mayors agreed....
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’s Cersanit expands into
€ 80.8 million EBRD loan to establish new production facilities
The EBRD is providing a €80.8 million loan to Cersanit Invest, a wholly owned Ukrainian subsidiary of the Cersanit Group, the largest Polish manufacturer and distributor of bathroom fittings and ceramic tiles. Loan proceeds will be used to finance the...
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Bank views programme as model for natural resources sector in whole EBRD area
The EBRD and a group of international banks are lending $300 million to fund a pioneer programme devised by Lukoil for rehabilitating or enhancing the environmental, health and safety performance of facilities belonging to Russia’s largest oil company across the Bank’s...
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€14 million will enhance trade and regional integration
The EBRD is lending the Albanian Port of Durres, the country’s main commercial port, €14 million to help finance a new ferry terminal and rehabilitate two quays to improve passenger and cargo services. The project is being co-financed with the European Investment Bank.
The loan will...
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EBRD, Nordic partners in €47.5 million oil spill protection investment
The EBRD, the Finnish Fund for Industrial Cooperation Ltd and the Nordic Environment Finance Corp are investing €47.5 million to help prevent and mitigate the impact of oil spills.
The three groups will make loans to and take equity stakes in Clean Globe International, a...
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New EBRD credit line to promote better use of resources
A €60 million credit line is being set up by the EBRD to finance projects in the Slovak Republic which increase energy efficiency, cut energy consumption and generate more energy from renewable sources. Under the new Sustainable Energy Financing Facility (SEFF), loans will be provided to private...
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First municipal and environmental infrastructure project in the country
Residents of five municipalities located near Lake Sevan in Central Armenia will benefit from improved wastewater management services following a €7 million sovereign loan from EBRD to the Republic of Armenia.
The funds will be on-lent to the state-owned Armenian Water and Sewerage...
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The EBRD has arranged a $36 million syndicated loan to Bank Forum one of the largest banks in Ukraine. The loan facility consists of an A-loan of $12 million from EBRD and B-loan of $24 million. The loan facility was fully underwritten by Raiffeisen Zentralbank Österreich Aktiengesellschaft and Standard Bank Plc and attracted good interest from the market...
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15 milliom loan to improve tram network in the city of Iasi
The city of Iasi, the third largest in Romania, will benefit from an improved public transport infrastructure with the help of a €15 million EBRD loan for rehabilitation of the city’s tram network. A €5 million portion of the loan is syndicated to Raffeisen Zentralbank Österreich...
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The European Bank for Reconstruction and Development is providing a $150 million loan to CJSC Ekoenergia, a special purpose company owned by the second largest Ukrainian industrial group the Industrial Union of Donbass (ISD) and Alchevsk Iron & Steel Works (AMK). Calyon Bank is underwriting the syndication of a $50 million part of the loan.
The project...
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€10 million loan to help increase steel production at Calarasi plant
The EBRD is lending S.C. Donasid S.A. €10 million to help complete restructuring at its plant in Calarasi, south-east Romania. The loan will finance mainly technological upgrades that will help increase production of steel billets from a current 300,000 tons per year to its full...
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The Board of Directors of the European Bank for Reconstruction and Development has adopted a new strategy for Belarus committing the EBRD to deepening its involvement with the private sector over the next two years, particularly...
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