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U.S. Businesses Report Growing Optimism about National and Local Economy

Wednesday, April 23, 2014
News Making Money

Raiffeisen Bank Aval to join the EBRD sustainable energy lending framework in Ukraine

05/02/2014 20:30 (76 Day 19:58 minutes ago)

The FINANCIAL -- The European Bank for Reconstruction and Development (EBRD) is continuing its efforts to develop sustainable energy sources and to promote energy efficiency in Ukraine , with a new US$ 100 million financing programme, according to Raiffeisen Bank Aval.


The EBRD’s Sustainable Energy Financing Framework was approved by the Bank’s Board of Directors at the end of 2013, and aims to inject new skills into the energy sector in Ukraine , backed by project financing via the domestic banking network. By promoting investment in energy efficient technologies the project will help Ukraine gradually reduce its overall energy requirements and improve the environment, according to Raiffeisen Bank Aval.

Raiffeisen Bank Aval – a long-term financial partner of the EBRD in Ukraine – is the first bank to sign up to the new framework, with financing from the EBRD of US$ 20 million, according to Raiffeisen Bank Aval.


Raiffeisen Bank Aval, and other banks expected to join the programme later, will provide individual loans to eligible local companies that are developing energy efficiency and renewable energy projects in Ukraine .

The Ukraine Sustainable Energy Financing Framework follows in the footsteps of the Ukrainian Energy Efficiency Programme (UKEEP), and which successfully financed 77 energy efficiency projects around Ukraine through five financial intermediaries during 2007-2013.

One such project was the EBRD’s financing for Ukraine ’s leading producer of fats, margarines, sunflower oil and biofuel pellets. That funding supported the introduction of efficient new equipment that helped the company save 9.1 million cubic metres of gas per year, according to Raiffeisen Bank Aval.

The UKEEP also paved the way for the establishment of a carbon lending market in Ukraine .

The EBRD is the largest financial investor in Ukraine . As of 1 January 2014 the Bank had committed €8.7 billion (US$ 11.9 billion) through 321 projects in Ukraine , according to Raiffeisen Bank Aval.



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Parliament issues strong call for EU lobby transparency register to become mandatory

16/04/2014 16:53 (6 Day 23:35 minutes ago)

The FINANCIAL -- The report approved by MEPs gives an important signal to the European Commission that a far more ambitious approach is needed to secure genuine lobby transparency in the EU, according to EUbusiness Ltd.

American Express Reports First Quarter EPS of $1.33, Up 16 Percent from a Year Ago

19/04/2014 14:24 (4 Day 02:04 minutes ago)

The FINANCIAL -- American Express Company reported first-quarter net income of $1.4 billion, up from $1.3 billion a year ago. Diluted earnings per share rose 16 percent to $1.33, from $1.15 a year ago, according to the American Express Company.


World News
Helping Bulgarian farmers to become landowners

19/04/2014 11:39 (4 Day 04:49 minutes ago)

The FINANCIAL -- The EBRD is providing a €5 million to loan to Elana Agrocredit AD to co-finance the development of Bulgaria’s agricultural land market.

The World Bank Supports Small and Medium-sized Businesses in Tunisia

19/04/2014 10:29 (4 Day 05:59 minutes ago)

The FINANCIAL -- The World Bank approved an additional loan for US$100 million for Micro, Small and Medium Enterprises (MSMEs) in Tunisia.

EBRD loans to boost energy efficiency and support competitiveness of Macedonian companies

16/04/2014 16:42 (6 Day 23:46 minutes ago)

The FINANCIAL -- The EBRD has teamed up with Macedonian bank, NLB Tutunska banka, to increase the competitiveness of the Macedonian private sector and to promote energy efficiency in the country with a €6 million financing package, according to EBRD.      

EBRD helps modernise Baltic freight handling

16/04/2014 16:29 (6 Day 23:59 minutes ago)

The FINANCIAL -- A €32.5 million loan from the EBRD to Klaipedos Smelte, the company operating the container terminal at Klaipeda port in Lithuania, helped modernise its freight handling capacities and upgrade the whole Baltics region as a transit hub, according to EBRD.

Major Cloud Service Providers Slash Prices; Threaten Smaller Players’ Existence: IDC Warns

19/04/2014 13:40 (4 Day 02:48 minutes ago)

The FINANCIAL -- In the last week of March, major Cloud Service Providers (CSPs) in Asia dropped their prices for core services dramatically and IDC believes that this will make it very difficult for smaller CSPs to remain in business if they continue to rely on provision of basic, undifferentiated services, according to International Data Corporation (IDC).

Shell announces Malaysia deep-water gas discovery

19/04/2014 12:52 (4 Day 03:36 minutes ago)

The FINANCIAL -- Shell announced an exploration discovery offshore Malaysia. The successful ‘Rosmari-1’ well is located 135 kilometres offshore in Block SK318, and was drilled to a total depth of 2,123 metres, according to Shell.

M&A insurance grows as confidence increases

18/04/2014 16:18 (5 Day 00:10 minutes ago)

The FINANCIAL -- As the green shoots of economic recovery have started to show in key markets like the UK and US, demand for mergers and acquisitions (M&A) insurance has been rising, according to Lloyd's, the world's specialist insurance market.


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