Money Buzz! Europa

Tag: EBRD

  • EBRD delivers record investment in response to coronavirus pandemic

    EBRD delivers record investment in response to coronavirus pandemic

    European Bank for Reconstruction and Development (EBRD) responded to the coronavirus pandemic with record investment of €11 billion in 2020 through 411 projects in 38 countries.

    This represents a 10% in annual business investment relative to 2019, when the Bank provided €10.1 billion to finance 452 projects.

    In addition to its own funds, the EBRD also directly mobilised €1.2 billion from co-investors at a time when the global economy was suffering its most severe slump since the Great Depression of the 1930s.

    The Bank continued to concentrate its support on the private sector, which accounted for 72% of total EBRD investment last year.

    Due to the urgency of addressing the Covid-19 crisis, in 2020 the share of green investment fell to 29 per cent after 46 per cent in 2019. 

  • Moldova acquire 12 new locomotives using european funds

    Moldova acquire 12 new locomotives using european funds

    Twelve modern diesel locomotives purchased by Moldova’s state-owned railway company Calea Ferată din Moldova (CFM) thanks to joint financing from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU) arrived in Chisinau.

    The new rolling stock was manufactured in Nur-Sultan, Kazakhstan, by GE Transportation, now a division of the US company Wabtec, a leading supplier of freight car and locomotive products.

    GE Transportation was contracted following a tender held by CFM in 2018 in line with EBRD procurement policies and rules.

    The acquisition of the locomotives is part of a large project financed by the EBRD, EIB and EU that also includes the rehabilitation of railway infrastructure and comprehensive reform of CFM to improve safety, efficiency and corporate governance.

    The total project cost is €110 million, of which €5 million is an investment grant from the EU’s Neighbourhood Investment Facility (NIF) and the remainder from loans by the EBRD and EIB.