Helping central and south-eastern Europe recover from the crisis

The EBRD has played a major role in devising and funding the Joint International Financial Institution (IFI) Action Plan for Growth in Central and South Eastern Europe.

In all, the European Investment Bank (EIB), the World Bank and the EBRD have committed €30 billion in support to the region this year and next.

The Plan’s progress so far is a focus of this week’s annual meetings of the World Bank and the International Monetary Fund in Washington DC.

Here is a sample of EBRD projects which are part of the Joint Plan to support financial stability and boost lending to the real economy in Albania, Bosnia Herzegovina, Bulgaria, the Czech Republic, Croatia, Estonia, FYR Macedonia, Hungary, Kosovo, Latvia, Lithuania, Montenegro, Poland, Romania Serbia, Slovakia and Slovenia.

The EBRD examples below date from the time of the Plan’s launch last November to July this year.

Power and Energy

Key investments in the power sector of Montenegro, including a new transmission line from Lastva to Pljevlja, a new substation and the strengthening of the existing high voltage network near the Adriatic Coat, are boosted by a €60 million EBRD loan. The investments are a first step in the development of the power transmission corridor connecting Villanova in Italy with the Jaz peninsula in Montenegro with a 415 km 1 GW high voltage DC cable. The interconnection will be a key element in the energy strategy of Montenegro and its neighbours.

Sustainable Energy

The donor-supported Kosovo Sustainable Energy Projects Framework was designed to improve the generation, use and supply of energy by encouraging small and medium-sized enterprises and private households to invest in energy efficiency technology and the rational use of energy. €8 million have already been committed to three partner banks.

Energjia.al 11.10.2013