The European Bank for Reconstruction and Development (EBRD) said it has invested USD82 million in a minority stake in Sok Marketler, a fast-growing Turkish discount grocer. The move supports one of the largest initial public offerings (IPO) on Borsa İstanbul, Turkey’s sole stock exchange. Sok operates small-format one-stop shops that […]
The Bank is providing a EUR40 million loan to finance the construction, development and operation of two mines in northwestern Turkey – the Lapseki mine in Çanakkale and the Ivrindi mine in Balıkesir. The two mines are being developed by Tümad, a subsidiary of the Turkish conglomerate Nurol Holding. The […]
The EBRD is providing Banque de Tunisie with a financing package that consists of a EUR50 million loan for on-lending to small and medium-sized enterprises (SMEs) and a US$ 20 million trade finance line that is expected to be signed shortly. The SME market segment accounts for more than 90 […]
In a new TL 70 million (€15 million equivalent) capital markets transaction in Turkey, the EBRD is supporting the debut bond issuance by Zorlu Osmangazi Enerji Sanayi ve Ticaret A.S., a subsidiary of Zorlu Enerji and part of the Turkish conglomerate Zorlu Holding. Zorlu Osmangazi carries out electricity distribution and […]
Jean-Patrick Marquet is the EBRD’s new Managing Director for Infrastructure, based in London. He previously held the position of Managing Director for Turkey, where he had been based since 2015. Mr Marquet has been combining the two roles since May 2017, when Thomas Maier, former Managing Director for Infrastructure, left […]
The European Bank for Reconstruction and Development (EBRD) has set a new landmark in its global climate response: financing well over 1 GW of new renewables capacity in 2017 with an expected reduction in CO2 emissions of 2 million tonnes a year. “Renewables is a sector where the EBRD is […]
The EBRD and the International Finance Corporation (IFC) are providing a EUR215 million loan to Cibuk 1 wind farm, the largest wind project in Serbia and the Western Balkans to date. The financing package for the EUR300 million wind farm was signed in Belgrade. The 158 MW Čibuk 1 wind farm […]
EUR700 million of new investment by small and medium sized companies across Greece will be supported by Piraeus Bank following new backing from the European Investment Bank (EIB), the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD), which was announced in Athens today. This represents […]
The EBRD is strengthening its outreach in Morocco with the opening of a second office in the city of Tangier in the north-west of the country. This is the first office of a multilateral development bank to open in the northern city. The office will target the local economy of […]
The EBRD and Morocco are joining forces to develop local currency lending to small businesses and provide affordable loans to Moroccan banks and microfinance organisations. Marie-Alexandra Veilleux-Laborie, EBRD Director for Morocco, signed a Memorandum of Understanding today with Morocco’s Ministry of Economy and Finance and the Central Bank (Bank Al […]