EBRD President pays first visit to Morocco EBRD President Odile Renaud-Basso made her first official visit to Morocco in a virtual format on 24 and 25 May. She held high-level meetings with the Moroccan authorities, the business community and civil society. Meetings focused on Morocco’s post-Covid-19 recovery and EBRD investments to support it. In an interview with the newspaper Aujourd’Hui le Maroc, the EBRD President said: “The EBRD’s new strategic framework focuses on three main priorities, namely the strengthening of social cohesion and the reduction of regional disparities for an inclusive growth, the facilitation of a private sector led economy by improving competitiveness and supporting Morocco s governance reform programme as well as increasing the transition to the green economy through more sustainable energy and infrastructure.”
EBRD helps Indorama introduce advanced cotton farming technologies in Uzbekistan
EBRD helps Indorama introduce advanced cotton farming technologies in Uzbekistan
Introduction of new farming technologies
Parallel loan by IFC, support by FINTECC The European Bank for Reconstruction and Development (EBRD) is supporting the modernisation of agriculture and enhanced economic opportunities for the local population in Uzbekistan with a financing package of up to US$ 70 million to Indorama Agro (Indorama). The package will consist of a US$ 60 million capital expenditure loan and a US$ 10 million working capital loan in Uzbek sum equivalent. It will support the operations of Indorama, an established cotton industry player engaged in rotational crop farming, a systematic approach to selecting locations and cycles of crop planting.
The Ukrainian paper producer Kokhavynska Paper Factory (KPF) will reach the next stage of its development thanks to a €13.8 million loan from the European Bank for Reconstruction and Development (EBRD).
How to turn a supermarket green
How to turn a supermarket green
EBRD and donors help Ukrainian supermarket chain Silpo adopt innovative technologies Avoiding plastic wrap, installing energy-efficient fridges, recycling materials wherever possible … these are only three of the many things a supermarket can do to protect the planet. Thanks to the backing of the EBRD and its donors, consumers in Ukraine now have another way to enjoy safer and more environmentally friendly shopping ‒ the Silpo Recycling supermarket, one of the few supermarkets in the country to adopt the very latest in green technology. Silpo is part of Fozzy Group, one of Ukraine’s largest industrial trading groups and a leading multiformat retailer, with brands such as Silpo, Fora and Fozzy C&C and almost 700 outlets nationwide.
EBRD and Hamkorbank help set up new production line in Samarkand
EBRD and Hamkorbank help set up new production line in Samarkand
EBRD and Hamkorbank support Uzbek packaging producer Midas Plastics
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GEF US$ 204,000 grant through the Bank’s FINTECC to finance sustainable packaging technologies Dairy products producers will have a greater variety of packaging at their disposal following the installation of a modern production line by Midas Plastics financed by the EBRD and Hamkorbank. The company is a new producer based in Samarkand, the second-largest city in the country. In a joint transaction with the EBRD, Hamkorbank is providing a loan of up to €2.92 million to Midas Plastics, while 60 per cent of the risk on the loan will be shared by the EBRD under a Risk Sharing Facility signed between the financial institutions.