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EBRD reports record 2020 investment in response to Covid-19

15 January 2021 11:10 (UTC +04:00)

The European Bank for Reconstruction and Development (EBRD) responded to the coronavirus pandemic with a record investment of €11 billion in 2020 through 411 projects, addressing the urgent needs of the 38 economies where it invests, APA-Economics reports citing EBRD.

This represents a 10 per cent increase in annual business investment relative to 2019, when the Bank provided €10.1 billion to finance 452 projects.

Keeping vital trade flows going, the EBRD supported a new record of 2,090 trade finance transactions worth €3.3 billion under its Trade Facilitation Programme, involving 90 issuing and 140 confirming banks across 40 countries worldwide. Examples of transactions include the import of medicines from Spain, Turkey and Switzerland into Lebanon, Georgia and Jordan, or the export of solar power technologies from Greece to Spain and the United Kingdom.

Note that the EBRD’s current portfolio in Azerbaijan amounts to €1,194 million within 36 active portfolio projects. The bank’s cumulative investment in Azerbaijan makes up €3,123 million.