The European Bank of Reconstruction and Development (EBRD) has finalised a series of transactions and initiatives.
The development bank has lent US$80mn to Turkish bank Yapi Kredi for the financing of sustainable energy projects. The bank will on-lend the money to local SMEs. The loan comes as part of the EBRD’s Turkish Sustainable Energy Financing Facility (TurSEFF).
Reflecting this scheme, the EBRD has opened a €75mn fund to finance renewables projects in the Western Balkans. The Western Balkans Sustainable Energy Financing Facility (WebSEFF) is open to banks in Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia who will, again, lend the money on to local SMEs for projects.
The biggest recent transaction the EBRD has recently closed is in Moldova, where it lent the government €150mn for the upgrade of 200km of its country’s major motorways. The bank’s transport director Sue Barrett says: “High-quality infrastructure is crucial for people’s daily lives and the wider economy and the EBRD is ready to help. This new loan – the bank’s largest investment in Moldova to date – is a sign of our strong commitment to supporting the country’s infrastructure that will drive growth in Moldova and beyond.”