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#EBRDmore: doing more in Eastern Europe and the Caucasus

Apr 25, 2019
#EBRDmore: doing more in Eastern Europe and the Caucasus

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A record level of business in Belarus, a major infrastructure project in Ukraine, the modernisation of the largest electricity supplier in Georgia, a Green Economy Financing Facility launched in Armenia and support for Moldova’s financial sector – these are just a few examples of the EBRD’s successful work in eastern Europe and the Caucasus in 2018.

“Last year, we invested almost €1.6 billion in more than 100 projects in the six countries in the region. And there is more to come.”

The EBRD is stepping up its investments and engagement in response to strong market demand for what the Bank can offer.

This includes bespoke financial products ranging from long-term equity investment to specific microfinance solutions as well as policy dialogue to create the strong institutions needed for successful long-term growth.

EBRD is closely aligning its activities with the 2030 Sustainable Development Goals with a focus on renewable energy and economic inclusion, where the EBRD is a pioneer in its regions.

Only economies that benefit their people are successful economies. The EBRD is making a vital contribution to this effort, and here’s how.

  • The new Beskyd tunnel was commissioned in the Carpathian Mountains in Ukraine. It connects the Ukrainian rail network through a double-track link with the pan-European transport network Corridor V and will take on 60 percent of rail traffic between Ukraine and the EU. The construction was financed by the EBRD with a US$ 40 million loan.
  • The Bank supported the modernisation and rehabilitation of the Enguri hydropower plant, the largest electricity supplier in Georgia, with a €28 million loan, backed by EIB finance.
  • The EBRD has provided €10 million in new financing for Moldova-Agroindbank (MAIB) and Victoriabank, following steps by Moldova’s key lenders to achieve transparency of ownership and to restore corporate governance.
  • The EBRD Green Economy Financing Facility (GEFF) was launched in Armenia with support from the Green Climate Fund and Austria. A US$ 12.5 million loan to Ameriabank will support green technology investments of SMEs and larger corporates.

Original source: EBRD
Published on 24 April 2019