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The European Bank of Reconstruction and Development began life as a combination lender and aid agency to help bring relatively poor areas in the EU up to standards in the more well off areas. It funded bridges and drainage, hospitals and schools and it was good. It has no money other than what it raises from "donors" which is a fictitious term meaning member states which, of course, means EU taxpayers.

What is it spending money on now? Let's just say that it's not good and if you are a taxpayer in the EU, it's your money. The EBRD itself says that 35% of the money it spends comes from EU coffers. As you will see, more comes direct from member states.

CoNet Section: 

It's about time someone with weight began to question the wisdom of an all-electric future based on batteries. The EBRD has woken up. Now it needs to kick some others into paying attention. It says that "green hydrogen could power tomorrow's industry."

A new report from the European Bank of Reconstruction and Development looks at Kazakhstan, reliant on oil exports for about half of its revenues, and concludes that things aren't looking good for the country’s finances in the light of a of a global shift away from fossil fuels.

The changing dynamics in global energy markets are likely to put pressure on fossil fuel exporters such as Kazakhstan, the EBRD says.

CoNet Section: 

The European Bank for Reconstruction and Development has invited expressions of interest for consulting services for financial institutions in Kyrgyz Republic and Tajikistan. Some of the so-called "partner financial institutions," which in the real world would be called "customers" have, the EBRD says, asked for assistance "to conduct a diagnostics (sic) of their internal audit function and provide them with recommendation to strengthen this area in line with the international best practices."

As the request unfolds it becomes, increasingly, a reason for serious head-shaking.

No-deal Brexit would hit south-eastern European economies hardest among EBRD regions, says the European Bank for Reconstruction and Development (EBRD) in a surprising counter-point to the position espoused by the EU generally .

CoNet Section: 

In a three year credit deal, the EBRD is lending USD (not euros, which might seem weird) to Bank CenterCredit (BCC - no comments please). The total amount is for a maximum of USD45 million. Special provisions are made for businesses run by women.

* Three-year loan of up to USD40 million provided to domestic small and medium-sized enterprises (SMEs)
* Three-year loan of up to USD5 million under Kazakhstan Women in Business programme

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