EBRD

EBRD AgVenture alert 📣: our agrifood-tech start-up competition is launching again for 2024 and we want to hear from you if you’re focused on green solutions to improve the food value chain, from farming, processing and packaging, to trading, and logistics. Awards package includes: - Up to €90,000 of grants, mentoring and consulting advisory support - Pitching in London at the World Agri-Tech Innovation Summit - Links to EBRD and partner networks - Exposure to funding opportunities Applications close 19 August 2024. Apply here: https://lnkd.in/dFUMVRqC Supported by Spain through the EBRD's High-Impact Partnership on Climate Action - HIPCA (also supported by Austria, Canada, Finland, the Netherlands, South Korea, Switzerland, the TaiwanICDF, the United Kingdom and the United States of America).

Our Odile Renaud-Basso has concluded her visit to Serbia. During her visit, she met with government authorities, including Serbian President Aleksandar Vučić, Prime Minister Miloš Vučević, Minister of Mining and Energy Dubravka Djedovic Handanovic, Deputy Prime Minister Siniša Mali, and others. During her third visit to the country, Ms. Renaud-Basso signed a €30 million loan agreement with Serbia for renewable heat generation, a Grant Agreement with the Serbian Ministry of Mining and Energy Ministarstvo rudarstva i energetike, and a €72 million financing package with Banca Intesa Beograd among others. She also met with EBRD clients, the business community, start-ups, and civil society representatives to discuss our work in the region. Here are the highlights of her visit.

Our Heike Harmgart, currently MD for the Southern and Eastern Mediterranean region has been appointed first EBRD Managing Director for sub-Saharan Africa! She will head up the EBRD’s banking operations in the Bank’s sub-Saharan Africa region, which will comprise Benin, Côte d’Ivoire, Ghana, Kenya, Nigeria and Senegal. In 2023 our Board of Governors approved an expansion to sub-Saharan Africa. Our warmest congratulations to Heike! https://lnkd.in/dVMnyGAT

We are thrilled to announce two major milestones in our ongoing efforts to support Serbia's energy transformation and sustainability goals.   1️⃣ €30 Million Loan for Renewable Heat Generation: we’re providing a loan of up to €30 million to modernise district heating firms in 10 Serbian cities. This investment, supported by up to €12 million #EBRDdonors (SECO Economic Cooperation and Development , the European Union and Austria), aims to enhance energy security and provide significant environmental benefits. The project will be implemented in collaboration with the Ministry of Mining and Energy, participating municipalities, and district heating companies. https://lnkd.in/dq9-CzZi   2️⃣ €2.35 Million Grant Agreement for Energy Efficiency: we’ve signed a €2.35 million grant agreement with the Serbian Ministry of Mining and Energy to provide technical assistance to the Administration for the Financing and Promotion of Energy Efficiency. Financed by European Union IPA (III) 2021 funds, this grant aims to accelerate capacity building of the EEA and support Serbia’s ambition to decarbonise its economy. https://lnkd.in/dTn_rhqf   Together, these initiatives mark a significant step forward in Serbia's journey towards a sustainable and energy-efficient future. W/ Odile Renaud-Basso, Siniša Mali, Dubravka Djedovic Handanovic, H.E. Urs Schmid, H.E. Christian Ebner, Elvira Angulo Rodrigues

Proud to be supporting MSMEs in West Bank and Gaza with a US$ 5 million loan to microfinance institution FATEN. Funded by the West Bank and Gaza Trust Fund and backed by the EU Neighborhood & Enlargement, the loan will aid underserved segments, including women and rural borrowers. https://lnkd.in/dZ9B8aHd

We are proud to support the green transition of Morocco's mining sector with a €13.6 million loan to PROCANEQ! This investment will finance the purchase of energy-efficient equipment, significantly reducing CO2 emissions. Additionally, our funding will promote gender diversity by encouraging the employment of women machinery drivers in this traditionally male-dominated industry. Together, we are driving sustainable growth and empowering change.

Excited to announce our commitment of up to US$ 40 million to SPE PEF III, the latest fund raised by SPE Capital ! This investment aims to support mid-cap companies in Egypt, Morocco, and Tunisia. PEF III is focused on generating long-term capital gains through equity and equity-related investments in these North African markets, while also maintaining the flexibility to invest in select sub-Saharan African countries. Anne Fossemalle, EBRD Director for Private Equity Funds investment, said: “We are excited to support SPE Capital, a key strategic partner to the EBRD in the southern and eastern Mediterranean region, in their next phase of development, through our investment in PEF III. SPE Capital will leverage their established presence in regional offices in Tunis, Casablanca, Cairo and Abidjan to support African firms in reaching their full operational potential, deliver successful financial returns to investors and improve quality of life on the continent.” https://lnkd.in/dN5urh7V

We’re excited to share that the 6th WBIF Operational Board meeting took place this week at our London HQ. The WBIF - Western Balkans Investment Framework, a joint initiative of the EU, financial institutions, bilateral donors, and beneficiaries, aims to boost socio-economic development in the Western Balkans. During the meeting, valuable interventions from donors and partner institutions sparked discussions on how to further our goals. The Western Balkans are a vital part of Europe, and our shared commitment to long-term economic recovery, green and digital transitions, regional integration, and convergence with the EU is stronger than ever. As we celebrate 15 years of progress, we’re proud of our collective achievements. Together, we're building a brighter, more connected future for the Western Balkans, and we are honoured to be part of this transformative journey.

Ukraine Parliament ratifies agreement on EBRD-established #ICCA to increase nuclear safety for Chornobyl Nuclear Power Plant and across Ukraine. Thanks to Norway MFA for making pledges worth €5.6 million! #EBRDdonors also approved further financing for projects to enhance the safety of spent nuclear fuel storage and optimise the management of liquid radioactive waste at Chornobyl. At the start of Russia’s full-scale war on Ukraine the ICCA's scope was broadened to support the restoration of safety and security within the Chornobyl Exclusion Zone, as well as wider nuclear safety measures across Ukraine. https://lnkd.in/d_Z2rnJX

Proud to have signed the Women Entrepreneurs Finance Initiative Code with Hassan Abdalla, Governor of the Central Bank of Egypt today. This game-changing initiative aims to boost financial inclusion and economic empowerment for women: 1. Providing women-led MSMEs with easier access to finance. 2. Offering technical support to financial providers to better serve this vital segment of the Egyptian economy. Together, we're closing the gender finance gap and empowering women entrepreneurs!