Multilateral development banks

 Scotiabank Launches Innovative ESG Investment Product Linked to the Inter-American Development Bank’s IndexAmericas and jointly structured in partnership with BNP Paribas

Retrieved on: 
Thursday, April 29, 2021
Banking, Professional services, Finance, Economy, Multilateral development banks, Articles, Inter-American Development Bank, Economic development, Refinitiv, IDB, Sustainable Development Goals, S-Network Global Indexes, Refinitiv Indices, Draft:David Craig, BNP Paribas, IDB IndexAmericas (IDBTVER), the IDB, Scotiabank, BNP PARIBAS, IDB INDEXAMERICAS (IDBTVER), THE IDB, SCOTIABANK

b'Scotiabank Mexico launched a MXN-denominated structured note linked to IndexAmericas, a corporate sustainability index developed by the Inter-American Development Bank (IDB).

Key Points: 
  • b'Scotiabank Mexico launched a MXN-denominated structured note linked to IndexAmericas, a corporate sustainability index developed by the Inter-American Development Bank (IDB).
  • The innovative index is the first of its kind created by a multilateral development bank and the first in LAC to be fully aligned with the United Nations Sustainable Development Goals.
  • It is the result of a partnership with S-Network Global Indexes and is designed using data provided by Refinitiv.
  • The IndexAmericas initiative was created by the IDB Group in partnership with S-Network Global Indexes using data provided by Refinitiv.

NDB Board of Governors held its 6th Annual Meeting online

Retrieved on: 
Wednesday, March 31, 2021
Financial services, Banking, Finance, Multilateral development banks, New Development Bank

SHANGHAI, March 31, 2021 /PRNewswire/ -- On March 30, 2021, the Board of Governors (the Board) of the New Development Bank (NDB) held its Sixth Annual Meeting.

Key Points: 
  • SHANGHAI, March 31, 2021 /PRNewswire/ -- On March 30, 2021, the Board of Governors (the Board) of the New Development Bank (NDB) held its Sixth Annual Meeting.
  • The theme of the 6th Board of Governors Annual Meeting was New Development Paradigms: The Evolution of Infrastructure.
  • In the context of the COVID-19 pandemic and the unprecedented global environment, the Board Governors meeting took place virtually.
  • The Board of Governors decided that the next Annual Meeting of the Board will be hosted by India in 2022.

Cyprus: EUR 19 million EIB backing for Epic high-speed Fiber to the Home network roll-out

Retrieved on: 
Tuesday, March 30, 2021
Continents, European Union, Countries, Multilateral development banks, European Investment Bank, EIB, CYPRUS, Lilyana Pavlova

Network expansion to improve access to the Epic high-speed broadband network in Cyprus will be accelerated by EUR 19 million long-term European Investment Bank financing confirmed today.

Key Points: 
  • Network expansion to improve access to the Epic high-speed broadband network in Cyprus will be accelerated by EUR 19 million long-term European Investment Bank financing confirmed today.
  • The new investment will support installation of 1,600km of fibre network as part of the roll-out by Epic of a Very High Capacity broadband network in Cyprus.
  • Constantinos Petrides, Minister of Finance and EIB Governor, and Kyriacos Kokkinos, Deputy Minister of Research, Innovation and Digital Policy attended the virtual announcement.
  • The EIB is pleased to provide EUR 19 million in long-term financing to Epic that will improve the productivity of the entire economy, said Lilyana Pavlova, EIB Vice President.

Cyprus: EIB backs EUR 245 million of new energy and connectivity investment in 2020, including fibre-optic internet roll-out by Epic Telecom

Retrieved on: 
Tuesday, March 30, 2021
Continents, European Union, Countries, Multilateral development banks, European Investment Bank, CYPRUS, Monaco Telecom, EIB

New European Investment Bank financing for priority investment in Cyprus last year totalled EUR 245 million.

Key Points: 
  • New European Investment Bank financing for priority investment in Cyprus last year totalled EUR 245 million.
  • This included support for new energy investment to reduce carbon emissions and help to reduce electricity bills, and backing for new investment to expand access to high-speed internet services.
  • Cyprus benefits from the largest EIB support, per capita, of any country in Europe with outstanding EIB exposure totalling EUR 2.7 billion, or 13% of national GDP.
  • Thanos Chronopoulos, CEO of Epic and Martin Peronnet, CEO of Monaco Telecom, detailed the expected impact of new broadband investment in Cyprus and the benefits of increased connectivity seen elsewhere in Europe.
  • The EIB has consistently been one of the most important and reliable partners of Cyprus for the past decades.
  • 2020 represented another strong year for the EIB in Cyprus, with EUR 245 million of new financing for visionary energy investment by Cypriot energy partners to cut carbon emissions and to enable Epic to improve broadband connectivity across Cyprus.
  • The EIB is committed to supporting priority investment in Cyprus and pleased to back Epics investment to transform high-speed broadband access in Cyprus.
  • Improving access to broadband internet with Epic The EIB today confirmed details of new EUR 19 million long-term financing to Epic to support the roll-out of their Very High Capacity broadband network and related connectivity and IT investment.
  • The EIB looks forward to working together with energy project partners to support future clean energy investment in Cyprus.

Austria: EIB Group cooperates with Raiffeisen-Leasing Group to support SMEs and Mid-Caps in response to the Covid-19 pandemic

Retrieved on: 
Monday, March 29, 2021
European Union, Multilateral development banks, Financial services, Banking, European Investment Bank, European Investment Fund, Raiffeisen, EIB, Investment fund

The securitised EUR 538m portfolio consists of existing leases originated by Raiffeisen-Leasing Group in its ordinary course of business.

Key Points: 
  • The securitised EUR 538m portfolio consists of existing leases originated by Raiffeisen-Leasing Group in its ordinary course of business.
  • The operation is aimed at supporting new lending to SMEs and Mid-Caps in Austria and is expected to mobilise up to EUR 560m of fresh investments in total.
  • EIB Vice President Thomas stros commented: This transaction clearly leverages EIB Group synergies and strengthens Raiffeisen-Leasings capacity to provide fresh investment to SMEs and Mid-Caps at favourable terms in the currently difficult environment due to the Covid-19 pandemic.
  • About the European Investment Fund

    The European Investment Fund (EIF) is part of the European Investment Bank Group.

Brazil: EIB and BRDE support SMEs impacted by COVID-19

Retrieved on: 
Tuesday, March 23, 2021
European Union, Multilateral development banks, Financial services, Banking, European Investment Bank, Interreg, Felicity

The EIB and BRDE are partnering to support a series of climate action projects in Brazil, including solar PV, small-scale hydropower and other renewable sources.

Key Points: 
  • The EIB and BRDE are partnering to support a series of climate action projects in Brazil, including solar PV, small-scale hydropower and other renewable sources.
  • As part of the BRDE CLIMATE ACTION Framework Loan, up to EUR 30m will fund urban projects, supported by FELICITY.
  • FELICITY is a project preparation facility funded by the German International Climate Initiative (IKI), implemented in cooperation with GIZ.
  • FELICITY helps project promoters in cities to provide feasibility studies and other preparatory and capacity building measures to BRDE.
  • EIB Vice-President, RicardoMourinho Flix responsible for Latin America said: Fostering entrepreneurship is crucial for sustainable growth, in particular during these challenging times.
  • We are pleased to announce this amendment agreement with BRDE to provide additional financial support to small businesses impacted by COVID-19 in Brazil.
  • This COVID-19 finance aims at accelerating the uptake and deployment of funds by BRDE to Brazilian businesses.
  • Beyond Brazil, EIB and GIZ cooperate via FELICITY also in Mexico and Ecuador to develop urban waste management and wastewater projects.

Long-term investment support needed to boost green and digital transformation of the Czech Republic says the latest EIB Investment Survey

Retrieved on: 
Tuesday, March 23, 2021
European Union, Multilateral development banks, Financial services, Banking, European Investment Bank, EIB

It focused on investment needs and priorities for the Czech Republic in the era of COVID-19, digitalisation and climate change.

Key Points: 
  • It focused on investment needs and priorities for the Czech Republic in the era of COVID-19, digitalisation and climate change.
  • During the webinar, EIB Vice-President Lilyana Pavlova gave an overview of the EIBs activities in the Czech Republic and EIB Head of Economic Studies Pedro de Lima presented the results of the 2020 EIB Investment Survey for the Czech Republic.
  • EIB Head of Economic Studies Pedro de Limaadded: About half of Czech firms planned to cut their investment spending and a third expect the pandemic to have lasting effects.
  • This calls for patient long-term investment support to accelerate the recovery, safeguard jobs and adapt to the challenges of the green and digital transformation.
  • The EIB Investment Survey provides a clear picture of the challenges for firms in the EU.
  • Read the EIB Investment Survey 2020 EIBIS 2020 - Czech Republic overview Presentations from the seminar available on thepost-event website.
  • More information on The EIB Investment Survey - 2020 EU overview About the European Investment Bank The EIB has worked with the Czech Republic since 1992 and invested in infrastructure, small businesses, environment and innovation.
  • Since its start of operations in Czech Republic, the EIB has provided 23.23 billion of financing to 192 projects.

Germany: EIB provides €50 million in risk financing to Wachstumsfonds Bayern 2

Retrieved on: 
Tuesday, March 23, 2021
European Union, Finance, Multilateral development banks, Financial services, European Investment Bank, EFSI, EIB, Angel investor, European Fund for Strategic Investments

The European Investment Bank (EIB) will provide up to 50million in risk financing to Wachstumsfonds Bayern 2 (WBF2), a venture capital fund set up on the initiative of the Free State of Bavaria.

Key Points: 
  • The European Investment Bank (EIB) will provide up to 50million in risk financing to Wachstumsfonds Bayern 2 (WBF2), a venture capital fund set up on the initiative of the Free State of Bavaria.
  • Its target size is 165million, with LfA Frderbank Bayern (LfA) having already committed to an investment of up to 115million.
  • The EU bank is providing this EFSI-backed risk financing as part of the Investment Plan for Europe.
  • EIB Vice-President Ambroise Fayolle, in charge of the EU banks activities in Germany, emphasised: I very much welcome the cooperation with LfA Frderbank Bayern to set up WBF2.
  • For the EIB, with the backing of the Investment Plan for Europe, supporting investment that is aimed towards greater competitiveness is a top priority.
  • Wachstumsfonds Bayern 2, a fund that always acts as a co-investment partner, plays a key role in lining up private investors alongside public sector capital in the financing of start-ups.
  • Background information About LfA LfA Frderbank Bayern, founded in 1951, is the specialist promotional bank of the Free State of Bavaria.

Bosnia and Herzegovina: EIB provides €40 million for improving the urban transport network in the Canton of Sarajevo

Retrieved on: 
Tuesday, March 23, 2021
Transport, European Union, Europe, Multilateral development banks, European Investment Bank, Road traffic management, Traffic congestion, Sustainable transport, SARAJEVO, BOSNIA AND HERZEGOVINA, Public transport

To support the transition to more sustainable transport modes, the European Investment Bank (EIB) is providing 40 million for the reconstruction of the urban transport network in the Canton of Sarajevo.

Key Points: 
  • To support the transition to more sustainable transport modes, the European Investment Bank (EIB) is providing 40 million for the reconstruction of the urban transport network in the Canton of Sarajevo.
  • These improvements will significantly increase safety and reduce traffic congestion and air pollution in the capital city of Bosnia and Herzegovina and the surrounding municipalities.
  • The establishment of a more efficient and reliable public transit system is expected to enable a shift of passengers from private to public transport modes.
  • The majority of these funds were allocated to Corridor Vc, which is one of the most important regional investments for the EIB.

Greece: Prime Minister Mitsotakis welcomes EIB backing for EUR 3 billion urban development and energy efficiency investment across Greece

Retrieved on: 
Friday, March 19, 2021
European Union, Multilateral development banks, Financial services, Banking, European Investment Bank, Antonis Tritsis

Implementation of hundreds of local sustainable urban investment schemes and energy efficiency projects in towns and cities across Greece will start following agreement for EUR 875 million of new long-term European Investment Bank financing confirmed today by Prime Minister Mitsotakis and EIB President Werner Hoyer.

Key Points: 
  • Implementation of hundreds of local sustainable urban investment schemes and energy efficiency projects in towns and cities across Greece will start following agreement for EUR 875 million of new long-term European Investment Bank financing confirmed today by Prime Minister Mitsotakis and EIB President Werner Hoyer.
  • The EIB Group is committed to accelerating climate action and sustainable urban investment across Greece.
  • The new EUR 875 million long-term financing agreed today will back EUR 3 billon of new investment in high-impact local projects under the pioneering Helektra energy efficiency and Antonis Tritsis sustainable urban investment schemes in the coming years.
  • The new agreements represent the largest EIB support for energy efficiency and urban investment in 58 years of engagement in Greece.
  • The Helektra programme will improve energy efficiency in public buildings nationwide and the Antonis Tritsis scheme will strengthen sustainable urban investment.
  • EUR 500 million for sustainable urban development across Greece The EIB will provide a EUR 500 million 25 year loan to support the Antonis Tritsis scheme aiming to strengthen sustainable urban investment in town and cities across Greece.
  • This will ensure that energy costs are reduced and carbon emissions cut for public buildings, and contribute to Greek and European energy efficiency targets.