This article is published in association with IMF. Ceyla Pazarbasioglu, Pablo Saavedra With elevated debt service squeezing the space available to finance much needed investment in many countries, urgent action is needed to boost fiscal space, maintain adequate international support, and reduce debt servicing costs. Many countries are being squeezed by increasing interest payments and high […]Now Is the Time to Help Countries Faced with Liquidity Challenges
August 2, 2024 by Leave a Comment
This article is published in association with IMF. Ceyla Pazarbasioglu, Pablo Saavedra With elevated debt service squeezing the space available to finance much needed investment in many countries, urgent action is needed to boost fiscal space, maintain adequate international support, and reduce debt servicing costs. Many countries are being squeezed by increasing interest payments and high […]EBRD and EU to mobilise up to €100 million for critical raw materials investments
August 1, 2024 by Leave a Comment
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have launched a joint facility to provide equity investments for the exploration of critical and strategic raw materials, aiming to mobilise up to €100 million in investments. These raw materials are essential to the EU’s digital and green transition. The EU is […]EBRD invests in Georgia Global Utilities green Eurobond
August 1, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) has successfully participated in the second green Eurobond issuance by Georgia Global Utilities (GGU), with an investment of US$ 40 million of the total US$ 300 million offering. GGU will invest the proceeds to improve the water-network infrastructure […]Germany: EIB and Deutsche Bank to boost Europe’s wind manufacturers
July 31, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The European Investment Bank (EIB) is activating a €5 billion initiative to support manufacturers of wind-energy equipment in Europe by extending a €500 million counter-guarantee to Germany-based Deutsche Bank AG. The transaction will enable Deutsche Bank to set up a portfolio of up to €1 billion […]Poland: EIB extends loan worth more than €230 million to PGE to modernise Polish railway’s power system
July 30, 2024 by Leave a Comment
This article is published in association with European Investment Bank. Polska Grupa Energetyczna (PGE), Poland’s top utility, received a PLN 1 billion loan from the European Investment Bank (EIB) to upgrade power systems for the country’s railway network. The 18-year credit marks the EIB’s sixth contract with the group, which currently benefits from credit lines at […]Raising Productivity Growth in Central America, Panama and the Dominican Republic
July 30, 2024 by Leave a Comment
This article is published in association with IMF. Opening Remarks by Deputy Managing Director Kenji Okamura at the IMF’s XVIII CAPDR Regional Conference It is my great pleasure to welcome you to the 18th Regional Conference on Central America, Panama, and the Dominican Republic, co-hosted this year with the Central Bank of Costa Rica. I would […]Barbados: EIB and Inter-American Development Bank approve guarantees to support climate and fiscal resilience
July 26, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The Inter-American Development Bank (IDB) and the European Investment Bank (EIB) have approved guarantees totalling $300 million to support an innovative debt-for-climate operation that will help Barbados unlock much-needed resources to invest in critical climate adaptation projects, while safeguarding other priorities such as social spending on health […]Improving Project Implementation – A Key Strategy to Include in PFM Reform Roadmaps?
July 26, 2024 by Leave a Comment
This article is published in association with IMF. Budget credibility is recognized as one of the key pillars of a sound PFM system. In the PEFA framework, it is measured by comparing the actual execution of the budget with the original estimate. The 2022 PEFA Global Report (2022 PEFA Report on Global Financial Management), found that […]A Low-Growth World Is an Unequal, Unstable World
July 24, 2024 by Leave a Comment
This article is published in association with IMF. Long periods of slow economic growth can cause a jump in inequality. But a balanced set of policies can stave off that outcome. Kristalina Georgieva The global economy is stuck in low gear, which could deal a major blow to the fight against poverty and inequality. Group of […]Spain: EIB and the Regional Government of Galicia sign €300 million loan agreement to finance investments in education, innovation, energy transition, social services, and digitalisation
July 22, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The European Investment Bank (EIB) has signed a loan for €300 million for the Regional Government of Galicia in Spain (Xunta de Galicia) to co-finance investments in education, sustainability, the energy transition, social services, and digitalisation in the region. The credit is the first tranche of a […]EIB hosts heads of five largest European national promotional banks
July 22, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The heads of the five largest national promotional banks in Europe met at the European Investment Bank’s headquarters in Luxembourg today to discuss ongoing areas of collaboration and ways to deepen their partnership. Hosted by EIB Group President, Nadia Calviño, the CEOs discussed common priorities including […]EIB Board of Directors backs €8.4 billion of new financing for housing, education, energy, water and business investment
July 18, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The Board of Directors of the European Investment Bank (EIB) today approved €8.4 billion of new financing to build homes and schools, harness renewable energy, upgrade water, transport and communications networks and bolster business innovation and growth in Europe and around the world. “Today we approved […]IMF and World Bank Working Together to Scale up Climate Finance
July 18, 2024 by Leave a Comment
This article is published in association with IMF. International Roundtable for Scaling Up Climate Finance for BeninTobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department July 17, 2024 I would like to warmly thank the authorities for hosting this kickoff meeting for scaling up climate finance for Benin. I would also like […]EIB: New agreement signed to provide additional €2 billion to back the reconstruction of areas hit by central Italian earthquake
July 17, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The European Investment Bank (EIB) is further bolstering its commitment to back reconstruction and safety work in the central Italian regions hit by the 2016 and 2017 earthquakes, announcing the approval of a new €2 billion financing package. The project agreement – guaranteeing that these additional funds […]Global Growth Steady Amid Slowing Disinflation and Rising Policy Uncertainty
July 17, 2024 by Leave a Comment
This article is published in association with IMF. Major economies are becoming more aligned, but the world’s medium-term prospects remain weak Pierre-Olivier Gourinchas July 16, 2024 Our global growth projections are unchanged at 3.2 percent this year and slightly higher at 3.3 percent for next year, but there have been notable developments beneath the surface since […]EIB invests €490 million with ICF to finance the construction of affordable and energy-efficient homes in Catalonia
July 16, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The European Investment Bank (EIB) and Institut Català de Finances (ICF) have signed a €163 million loan to finance the construction of affordable rental housing with high energy efficiency standards in Catalonia, Spain. This is the first tranche of a total loan of €490 million backed by the […]Stop Squeezing the Baseline!
July 16, 2024 by Leave a Comment
This article is published in association with IMF. Holger van Eden Too much. Ok, dear ministry of finance official, a little squeeze is fine, but decreasing existing expenditure commitments to bare bones levels has serious drawbacks. One of the unintended consequences of squeezing too much is that the baseline, the path of expenditure under unchanged policies, […]Luxembourg-EIB Climate Finance Platform supports BlueOrchard’s climate insurance equity fund with the backing of the government of Luxembourg
July 15, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The Luxembourg-EIB Climate Finance Platform (LCFP) will provide EUR 5 million for impact investor BlueOrchard’s innovative USD 100 million climate insurance fund, with the backing of the government of Luxembourg. The LCFP seeks to catalyse private and public sector investment into high-impact companies in emerging markets […]Emerging Markets Show Resilience Despite Global Monetary Tightening
July 15, 2024 by Leave a Comment
This article is published in association with IMF. Unlike past episodes, emerging market capital flows have remained largely resilient in the face of global monetary tightening, even as global capital flows have fallen Cian Allen, Rudolfs Bems July 12, 2024 Interest rates in the United States are at 20-year highs and the dollar has appreciated sharply against […]EBRD Issues EUR 1 billion 7-year Green Bond
July 12, 2024 by Leave a Comment
This article is brought to you in association with EBRD. Bond details: Amount: USD 1 billion Settlement date: 17 July 2024 Coupon: 2.875% annual, Act/ac Maturity date: 17th July 2031 Issue price: 99.856 % Re-offer Spread vs Mid Swaps: +12 bps Re-offer Spread to Benchmark: +47.5 bps Listing: London Stock Exchange’s Regulated Market & Luxembourg Green Exchange (LGX) Use […]Ukraine: EU bank helps improve water supply for war-torn Bucha
July 11, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The newly renovated water supply facility in Bucha, Kyiv Oblast, opened today under the Ukraine Recovery Programme by the European Investment Bank (EIB). This critical upgrade helps the community overcome longstanding challenges in providing reliable, high-quality drinking water. The need for this facility became even more […]European Commission issues €9 billion in its 7th syndicated transaction of 2024
July 10, 2024 by Leave a Comment
This article is brought to you in association with the European Commission. The European Commission has today raised €9 billion of EU-Bonds in its 7th syndicated transaction for 2024. The dual-tranche transaction concerned a new €5 billion bond due on 5 October 2029, and a €4 billion tap of the EU-Bond maturing on 5 October 2054. […]EBRD and Banca Intesa Beograd sign financing package of €72 million
July 9, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) has signed a financing package of €72 million with Banca Intesa Beograd that aims to boost the competitiveness and trade potential of businesses in Serbia, as well as further the country’s green transition and promote financial inclusion. The […]Tanzania: Global Gateway – Businesses to Benefit from EU Grant to Boost EIB Global Credit Lines to Local Banks
July 9, 2024 by 1 Comment
This article is published in association with European Investment Bank. The European Investment Bank Vice-President, Mr. Thomas Östros, and the Deputy Ambassador of the European Union to Tanzania, Mr. Emilio Rossetti, have today signed a statement of intent to blend a grant of 15 million EUR (43 billion TZS) from the European Union with 350 million […]Bad debts remain stable in emerging Europe despite macro-financial pressure
July 5, 2024 by Leave a Comment
This article is brought to you in association with EBRD. Bad debts remain stable in the European Bank for Reconstruction and Development’s (EBRD) European markets, despite external pressure from macroeconomic uncertainty and geopolitical tensions over the past year, according to the new edition of the NPL Monitor, published today. The latest data suggest that the non-performing loan (NPL) […]EBRD, Switzerland and EU assess effects of the war on SMEs in Ukraine
July 4, 2024 by Leave a Comment
This article is brought to you in association with EBRD. After two years of full-scale war, a majority of Ukrainian small and medium-sized enterprises (SMEs) surveyed for a study published by the European Bank for Reconstruction and Development (EBRD) have managed to stabilise their operations, demonstrating remarkable adaptivity to wartime conditions. The survey indicates that 85 […]EBRD announces settlement with Chinese construction company CGGC
July 4, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) has announced a 35-month sanction of the Chinese construction company China Gezhouba Group Company Limited (CGGC) and its 212 subsidiaries, in connection with fraudulent practice relating to the project Corridor VC – Tunnel Prenj in Bosnia and Herzegovina. […]EIB and Banca Etica provide over €165 million to support gender equality, refugee inclusion and development in southern Italy
July 2, 2024 by Leave a Comment
This article is published in association with European Investment Bank. European Investment Bank (EIB) Vice-President Gelsomina Vigliotti and Banca Etica President Anna Fasano have signed a €60 million agreement with the main goals of promoting labour market integration and better services for refugees, making it easier for women-led companies to access finance and supporting projects in cohesion […]EIB Global supports SPE’s USD 350m investment in North African growth companies
July 2, 2024 by Leave a Comment
This article is published in association with European Investment Bank. At the EU-Egypt Investment Conference in Cairo the European Investment Bank today confirmed support for a new USD 350 million regional private sector investment fund managed by SPE Capital. The fund is expected to unlock large-scale equity investments in high-growth private companies operating in sectors such […]Austria: voestalpine to receive €300 million EIB loan for research and development of green steel production
July 1, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The European Investment Bank (EIB) is providing a loan of €300 million to voestalpine AG, Europe’s third largest steelmaker. The financing will be used for the company’s research and development (R&D) programme over a period of four years, with the goal to optimise manufacturing processes, increase […]UN rights chief calls time on ‘economic violence’ against women and girls
July 1, 2024 by Leave a Comment
This article is published in association with United Nations. On Friday, at the UN Human Rights Council’s (OHCHR) first panel for the annual full-day discussion on women’s rights, The UN human rights chief Volker Türk on Friday told a Human Rights Council panel that it’s time to eliminate laws and practices that contribute to “economic violence” […]First EBRD loan to Türkiye’s cement sector to boost low-carbon investments
June 27, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to Türkiye’s Cimsa to finance the company’s decarbonisation investment programme. The proceeds of the loan will finance the installation of a solar power plant, a waste heat recovery plant, a new silo […]Convergence Report reviews Member States’ progress towards joining the euro area
June 27, 2024 by Leave a Comment
This article is brought to you in association with the European Commission. Today, the European Commission has published the 2024 Convergence Report in which it provides its assessment of the progress non-euro area Member States have made towards adopting the euro. The report covers the six non-euro area Member States that are legally committed to adopting […]
