EBRD newsletter - Friday 30 April EBRD “baby” UiPath smashes Wall Street The Romanian software company UiPath broke records this week with the most successful listing on the New York Stock since Spotify, according to the Economist. UiPath managed to raise $1.3bn in an initial public offering. This valued it at around $30bn. When first plans for the company were made in a living room in Bucharest in 2015 and the founders needed capital the EBRD stood ready to offer its support through the Earlybird Digital East Fund. As the world commemorated the 35
th anniversary of the Chernobyl nuclear accident this week, a new EBRD-managed decommissioning fund held its first assembly meeting. EBRD President Odile Renaud-Basso and Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA) opened the meeting of the International Chernobyl Co-Operation Account (ICCA) assembly with a joint declaration pledging continued support for the decommissioning of th
First assembly meeting of International Chernobyl Co-Operation Account
New fund to develop comprehensive plan for next steps in decommissioning process
EBRD and IAEA heads agree to continue institutions’ cooperation The international community stands united to support Ukraine in the next steps towards transforming the site of the Chernobyl nuclear accident. On the occasion of the first assembly meeting of the new International Chernobyl Co-Operation Account (ICCA), the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, and the Director General of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, agreed the following: Having reviewed the support that each organisation has provided Ukraine in the past 35 years, and the progress achieved so far, they confirm their continuous support to Ukraine in the coming phase of decommissioning of Chernobyl.
At 01:23:40 on 26 April 1986, the failure of a routine test at the Chernobyl Nuclear Power Plant in Ukraine, then part of the Soviet Union, caused reactor 4 to explode, releasing parts of its radioactive core. It was the worst nuclear accident the world had ever seen, with far-reaching political, economic and ecological consequences. Thirty-five years on, Chernobyl is still as well-known as it was a generation ago.
Fires broke out, causing the main release of radioactivity into the environment. Wind carried contaminated particles over Ukraine, Belarus and Russia, as well as parts of Scandinavia and wider Europe. The 50,000 inhabitants of the adjacent town of Pripyat were evacuated, never to return.
Chernobyl: The next phase At 01:23:40 on 26 April 1986, the failure of a routine test at the Chernobyl Nuclear Power Plant in Ukraine, then part of the Soviet Union, caused reactor 4 to explode, releasing parts of its radioactive core. It was the worst nuclear accident the world had ever seen, with far-reaching political, economic and ecological consequences. Thirty-five years on, Chernobyl is still as well-known as it was a generation ago. Fires broke out, causing the main release of radioactivity into the environment. Wind carried contaminated particles over Ukraine, Belarus and Russia, as well as parts of Scandinavia and wider Europe. The 50,000 inhabitants of the adjacent town of Pripyat were evacuated, never to return.
EBRD President pays first visit to Egypt EBRD President Odile Renaud-Basso visited Egypt in person for the first time since taking office for high-level meetings with the authorities and the business community. She met the President of Egypt, Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly, Minister of International Cooperation and EBRD Governor, Rania Al-Mashat, Minister of Electricity and Renewable Energy, Mohamed Shaker, among other key political figures. Supporting Egypt’s transition to a green economy, Ms Renaud-Basso signed agreements targeting development of sustainable infrastructure and renewable energy in the country. Supporting Egypt’s largest private solar plant Kom Ombo During the President’s visit the EBRD – in cooperation with the OPEC Fund for International Development (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF) and Arab Bank signed a US$ 114 million financing package with ACWA Power for the construction