European Bank for Reconstruction and Development and EU to further support coronavirus response and recovery in EU Neighbourhood

14-09-2020
European Bank for Reconstruction and Development and EU to further support coronavirus response and recovery in EU Neighbourhood
European Bank for Reconstruction and Development and EU to further support…
Copyright: EBRD

The European Bank for Reconstruction and Development (EBRD) and the European Union – through Team Europe – are joining forces to provide more financial support to the municipal, infrastructure and industrial sectors that have been affected by the economic crisis caused by the coronavirus pandemic in the southern and eastern EU Neighbourhood regions. The support will also address Covid-19 recovery through green investments.

The EU is providing a guarantee of up to €100 million to support EBRD investments of around €300 million and additional loans from private sector actors for cumulative total investments of over €500 million. The EBRD and private sector co-financed loans will support investments in industrial, building, municipal and sustainable infrastructure.

In addition, the EU guarantee will support the Bank’s operations to develop green, low-carbon, climate-resilient economies in the southern and eastern Mediterranean (Egypt, Jordan, Morocco, Tunisia, Lebanon and West Bank and Gaza) and eastern Europe and the Caucasus (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine).

The loans will also be used for sustainable investments in green city infrastructure, greener logistics chains, energy efficiency and green technology transfers in industrial processes, commercial operations and buildings.

 

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Press Release

European Bank for Reconstruction and Development (EBRD)