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The Latest Breaking News from EBRD

EBRD pledges more support for Ukraine with capital boost

At a meeting in Russia's former Central Asian backyard, the European Bank for Reconstruction and Development on Thursday pledged further support for war-torn Ukraine with plans to increase its capital by 3 billion-5 billion euros.

Reuters

European Commission Inaction Is Putting The EU’s Insurance Market At Risk

The Romanian Financial Supervisor Authority announced its bankruptcy proceedings against City Insurance SA.

Zenger

King Charles says he is determined to return to Ukraine ‘before I get too old’

The monarch was speaking as he officially opened the new European Bank for Reconstruction and Development Headquarters

Evening Standard

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King speaks of desire to visit Ukraine at opening of EBRD headquarters

Charles was presented with a painting of the country’s golden fields and blue sky at the European Bank for Reconstruction and Development in London.

The Independent UK

Has Russia's economy withstood Western sanctions?

Vladimir Putin claims the Russian economy has withstood Western sanctions, as he prepares to mark one year since the invasion of Ukraine. While Russia's GDP has contracted less than many analysts expected, Beata Javorcik of the EBRD explains that's largely the result of years of "sanctions-proofing", and doesn't mean that…

France 24

Türkiye Earthquake Could Result in Loss of Up to 1% of Country's GDP in 2023

The potential economic effects of the earthquake in Türkiye could result in a loss of up to 1% of the country's gross domestic product this year, the European Bank for Reconstruction and Development (EBRD) said in a report published on Thursday.

Asharq Al-Awsat

Earthquakes could trigger loss of up to 1% of Turkish GDP in 2023, says report

The February 6 earthquakes that killed more than 40,000 people in Turkey and Syria could result in a loss of up to 1% of the Turkish gross domestic product (GDP), said an economic report published on Thursday. It came amid uncertainties over a possible delay of general elections, set for…

France 24

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Michaela Bergman obituary

Other lives: Public servant who brought great energy to many projects round the world

The Guardian - UK

Ukraine urges world leaders to intensify war efforts on first day at Davos

At World Economic Forum, country’s officials ask allies to step up military supplies to defeat Russia

The Guardian - UK

From Russia with cash: Georgia booms as Russians flee Putin's war

As war chokes Europe, a small nation wedged beneath Russia is enjoying an unexpected economic boom.

Reuters

EBRD to Help Fund Transition from Gas to Wind Power in Egypt

The European Bank for Reconstruction and Development (EBRD) will help finance the decommissioning of 5GW of inefficient gas-fired power plants in Egypt from 2023 while pledging up to $1 billion for renewables, its regional director said on Sunday. EBRD would raise up to $300 million in sovereign financing for projects…

Asharq Al-Awsat

Davos 2022: EBRD chief warns of risk of 'food crisis' amid war in Ukraine

Our Business Editor Kate Moody has been speaking to the head of the European Bank for Reconstruction and Development (EBRD) at the World Economic Forum in Davos. EBRD head Odile Renaud-Basso explained how the institution, which was already present in Ukraine before the Russian invasion, has been "shifting" its support…

France 24

EBRD prepares to raise more funds to rebuild Ukraine

The European Bank for Reconstruction and Development (EBRD) said it is preparing to raise additional funds for the reconstruction of Ukraine after Russia's invasion, after pledging to spend 1 billion euros in the country in 2022.

Reuters

EBRD receives donor pledges to ramp up Ukraine investments

The European Bank for Reconstruction and Development (EBRD) said on Thursday it expected to ramp up investments in Ukraine and surrounding countries after donors indicated pledges of almost 1 billion euros ($1.04 billion).

Reuters

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Al Jazeera

Russia’s economy projected to shrink by 10%; Ukraine’s by 20%

The European Bank for Reconstruction and Development says war has triggered ‘greatest supply shock’ in 50 years.

Asharq Al-Awsat

EBRD: War to Hammer Russia, Ukraine Economies this Year

The economies of Russia and Ukraine will contract by 10 percent and 20 percent respectively this year as the war between the two countries causes "the greatest supply shock" for 50 years, the European development bank, EBRD, said on Thursday. Before Russia invaded its pro-Western neighbor on February 24, the…

Asharq Al-Awsat

EBRD: Ukraine War Sparking Turmoil for World Economy

The Ukraine war has major economic consequences for energy, food, inflation and poverty, according to the European Bank for Reconstruction and Development. The EBRD's chief economist, Beata Javorcik, spoke to AFP about the fallout from Russia's invasion of Ukraine, from where more than three million refugees have fled so far.…

Asharq Al-Awsat

Egypt, EBRD Launch New Cooperation in Energy, Tourism

Egypt and the European Bank for Reconstruction and Development (EBRD) signed two memoranda of understanding (MoU) on green hydrogen and established the Sector Skills Council (SCC) to boost the tourism sector. They also signed an agreement to implement an Alexandria metro line with a total value of €250 million. The…

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Asharq Al-Awsat

Egypt Discusses with EBRD Clean Energy Transition

Egypt and the European Bank for Reconstruction and Development (EBRD) discussed clean energy transition and Cairo's ongoing preparations for hosting the UN's Conference of Parties on Climate Change (COP 27). Minister of Petroleum and Mineral Resources Tarek El-Molla met Vice President of Policy and Partnerships at EBRD Mark Bowman and…

France 24

Inflation, exiting fossil fuels & navigating politics: The challenges facing the EBRD

For more than 30 years, the European Bank for Reconstruction and Development (EBRD) has been investing in countries in Central and Eastern Europe. It's since expanded into the Middle East, Central Asia and North Africa and has plans to move into Sub-Saharan Africa too. The EBRD's President Odile Renaud-Basso discussed…

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