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☆ EBRD president: Climate transition is hindered by insufficient funding
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEBRD president: Climate transition is hindered by insufficient fundingOdile Renaud-Basso, the President of EBRD, says new policies are needed to encourage private sector investments.

Persons: Odile Renaud, Basso, EBRD

Helping these countries, which face some of the biggest risks from climate change, access these will be a key aim during the COP28 climate talks underway in Dubai. Ambitions for results at COP28 got off to a good start on the opening day on Thursday when countries approved plans for the climate disaster fund, after months of negotiations. About 60% of low-income countries are either in or at high risk of debt distress, the CDP said. The Central Asia Regional Economic Cooperation Program, for example, aims to agree a disaster relief bond issuance and a regional risk transfer facility, the ADB's Principal Disaster Risk Insurance and Finance Specialist, Thomas Kessler, told Reuters. "We are ready to scale up climate protection through early warning systems, anticipatory cash, climate insurance and community-based resilience projects," said Gernot Laganda, director of Climate and Disaster Risk Reduction at the United Nations World Food Programme.

Persons: COP28, Ekhosuehi Iyahen, IDF's Iyahen, Michèle Plichta, Lydia Poole, Odile Renaud, Basso, Thomas Kessler, Otis, Gernot Laganda, Alessandro Parodi, Simon Jessop, Libby George, Karin Strohecker, Susan Fenton Organizations: Insurance, Forum, PAF, Disaster, European Bank for Reconstruction, Global, Swiss, Central Asia Regional Economic Cooperation, Finance, Reuters, UN, University of Cambridge's Institute for Sustainability Leadership, United Nations, Food, Thomson Locations: GDANSK, LONDON, Dubai, London, Mexico

"Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. "The world's richest countries need to work with the multilateral development banks to find effective, structural ways to channel significantly scaled up energy transition finance," he said. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, COP27, REK, Renaud, Leo Roberts, E3G, Kate Abnett, Kirsten Donovan, Louise Heavens Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Climate Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Pakistan, Colombia, Ukraine

The deal, which is expected to be announced at the COP28 climate talks in Dubai beginning on Nov. 30, will lay out a plan to close the country's two coal power plants and replace them with 1.7 gigawatts of renewable energy. "Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, REK, Renaud, Kate Abnett, Kirsten Donovan Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Ukraine

☆ Iraq becomes EBRD shareholder, Senegal and Ghana apply to join
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

People walk past the new headquarters of the European Bank for Reconstruction and Development (EBRD) in Canary Wharf, London, Britain, September 14, 2023. REUTERS/Alishia Abodunde/File photo Acquire Licensing RightsLONDON, Nov 16 (Reuters) - Iraq has become the 74th member of the European Bank for Reconstruction and Development, the multilateral lender said on Thursday, while Ghana and Senegal have also applied to join. Iraq first submitted its request to join the bank in 2018, and its shareholder status enables it to apply to become a recipient economy, which would unlock EBRD finance and policy support. "When the time comes, we are looking forward to starting work in Iraq, applying our expertise to developing its economy," EBRD President Odile Renaud-Basso said in a statement. Renaud-Basso told Reuters that Senegal and Ghana had submitted applications to join the bank in the latest sign of its push into sub-Saharan Africa.

Persons: Alishia, Odile Renaud, Basso, Renaud, Libby George, Marc Jones, Christina Fincher Organizations: European Bank for Reconstruction, REUTERS, Reuters, Ukraine, Thomson Locations: Canary Wharf, London, Britain, Iraq, Ghana, Senegal, Saharan Africa, Benin, Ivory Coast, Europe, East, North Africa, Asia

☆ Ukraine needs further financial support to sustain war: EBRD President
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUkraine will face major challenges if financial support from global partners ceases: EBRD PresidentOdile Renaud-Basso, president of the European Bank for Reconstruction and Development, discusses Ukraine's recovery, saying that financial supoprt is vital.

Persons: Odile Renaud, Basso Organizations: European Bank for Reconstruction

DAVOS, Switzerland, Jan 18 (Reuters) - The European Bank for Reconstruction and Development expects a record loss in 2022, primarily due to losses from its portfolio holdings in Russia and Belarus, EBRD President Odile Renaud-Basso said on Wednesday. The bank earlier reported record investments in 2022 of about 13.1 billion euros ($14.1 billion), and expects to continue investments targeted around food and energy security, Renaud-Basso said. It may make record investments in Tunisia. Renaud-Basso reiterated the bank's commitment to send 3 billion euros to Ukraine by the end of this year, particularly to help rebuild infrastructure. That would mean an expected deployment of around 1.3 billion euros in 2023, following last year's disbursement of 1.7 billion euros.

☆ EBRD president: Up to 3 billion euros to be invested in Ukraine in 2022-23
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEBRD president: Up to 3 billion euros to be invested in Ukraine in 2022-23Odile Renaud-Basso, president at the EBRD, discusses the organization's investments in Ukraine and its economy.

☆ Ukraine external financing needs could reach $5 bln a month, IMF's Georgieva says
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - Ukraine's external financing needs will be around $3 billion a month through 2023 in a best-case scenario, but could rise as high as $5 billion if Russian bombing becomes "even more dramatic," IMF Managing Director Kristalina Georgieva said. She said IMF staff had met with Ukrainian authorities in Vienna last week to discuss the country's financial needs and were working toward a fully-fledged IMF lending programme. Georgieva strongly endorsed Ukraine's calls for a mechanism to coordinate financial needs and support, a message echoed by Odile Renaud-Basso, president of the European Bank for Reconstruction and Development, and other speakers. We are going to be a part of the solution during this recovery phase," the IMF leader said. "And in a worst case scenario, if the bombing is even more dramatic ... it could go to $5 billion a month."

☆ EBRD will invest more in Ukraine by end of 2022, president says
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEBRD will invest more in Ukraine by end of 2022, president saysOdile Renaud-Basso, president of the European Bank for Reconstruction and Development, said there's a need for additional investment in Ukraine to restore destroyed electricity and rail infrastructure.

László Diósi, Președintele Comitetului Executiv – CEO, a sumat „Ar fi sincer să recunoaștem că stabilitatea noastră financiară este atu-ul acestor timpuri. Fapt care ne-a permis să răspundem cu agilitate nevoilor clienților, să mizăm pe eficiență în gestionare și să fim prudenți în anticiparea riscurilor. Programul TFP al BERD promovează comerțul exterior către și din economiile în care BERD investește. Până în prezent programul TFP a sprijinit peste 27.000 de tranzacții comerciale, însumând peste 22 miliarde EUR. Beneficiați gratuit de consultarea cu privire la instrumentele de facilitare a comerțului internațional, oferită de experții Mobiasbanca - OTP Group, apelând la 022 812 400/022 812 490 sau la adresa e-mail: tradefinance@mobiasbanca.md.

Persons: Renaud, Elena, László Diósi Organizations: OTP Group, OTP, BERD Locations: OTP Group

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