European Bank For Reconstruction And Development News
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Kant, an industrial city east of the Kyrgyzstan capital that houses an air base and brewery, is getting 7.7 million euros ($9.8 million) in grants and loans from the Swiss government and European Bank for Reconstruction and Development for water and wastewater upgrades.
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The European Bank for Reconstruction and Development approved 30 million-euro (38.6 million) financing for small and medium-sized business in Serbia that will be disbursed through the local units of UniCredit SpA.
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Kazakhstan reiterated its 6 percent economic-growth forecast for this year even as falling corporate-tax revenue prompted the government to cut spending.
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Turkey’s biggest wind farm, financed with a 135 million-euro ($175 million) loan arranged by the European Bank for Reconstruction and Development, started producing power as the nation seeks to curb fossil-fuel imports.
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The European Bank for Reconstruction and Development meets today and tomorrow in Istanbul as the 34 countries it invests in, from Russia to Morocco, seek to kickstart their economic recoveries.
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Eastern Europe’s economic-growth prospects have worsened as the region’s largest economies, Russia and Poland, are slowing “significantly,” the European Bank for Reconstruction and Development said.
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Delinquent loans in eastern European countries including Hungary, Ukraine, Slovenia and the Balkans are holding back economic recovery and may prevent capital from being spent productively, a study showed.
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Slovenia’s credit rating was cut to junk by Moody’s Investors Service, forcing the government to delay its first international bond sale this year, intended to to ease a financing crunch and avoid an international bailout.
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Srbijagas JP, Serbia’s state-owned gas monopoly, wants the government to help pay back 120 million euros ($157 million) of debt this year and secure a further 250 million euros to improve its financial liquidity.
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The European Bank for Reconstruction and Development will lend $17 million euros (22.2 million) to Bingo DOO, a Bosnian supermarket chain, for expansion.
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