EBRD seeks to increase annual funding to €13 bln to address coronavirus challenges

SourceAhram
SectorFinancial Services
CountryMiddle east

The European Bank for Reconstruction and Development's (EBRD) new strategy for 2021-2025 will focus on accelerating the pace of recovery from the COVID-19 pandemic and strengthening the private sector by increasing its share in the bank’s investments to more than 75 percent. The new strategy was approved during the EBRD’s 29th annual meeting that took place over the past week, which witnessed the election of the first woman president Odile Renaud Basso. EBRD is seeking to raise its annual funding to €13 billion, up from its record €10 billion in 2019, to address the COVID-19 challenges. The new strategy targets repositioning EBRD as a leader in green finance. The bank has an ambitious plan to become a majority green bank by 2025 and increase its share ...read more...