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european bank

EBRD and Baltic states to develop regional market for commercial papers

2 mins read

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) and the central banks of Estonia (Eesti Pank), Latvia (Latvijas Banka) and Lithuania (Lietuvos Bankas) are joining forces to develop a regional market for commercial papers. Commercial papers (CPs) are short-term unsecured promissory notes issued by companies with a fixed-term maturity and used to address short-term liquidity or working capital needs. Demands for such alternative sources of finance are rapidly increasing in the current coronavirus pandemic. In a Memorandum of Understanding, signed today, the four parties resolve to cooperate in developing a deeper and more efficient regional CP market in…

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EBRD and Baltic states to develop regional market for commercial papers

2 mins read

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) and the central banks of Estonia (Eesti Pank), Latvia (Latvijas Banka) and Lithuania (Lietuvos Bankas) are joining forces to develop a regional market for commercial papers. Commercial papers (CPs) are short-term unsecured promissory notes issued by companies with a fixed-term maturity and used to…

EBRD shareholders elected Odile Renaud-Basso as the Bank’s next president

1 min read

The FINANCIAL — The Board of Governors of the European Bank for Reconstruction and Development (EBRD) has elected Odile Renaud-Basso of France as the Bank’s next President. Currently Director-General at the French Treasury, Ms Renaud-Basso replaces Sir Suma Chakrabarti, who stepped down in July after serving two full four-year terms. She will assume office later this year. The election took place today during…

EBRD to finance municipal infrastructure modernisation in Bakuriani

1 min read

The FINANCIAL — The population of Bakuriani, a city in the Borjomi municipality of Georgia, will benefit from improved public transport and services thanks to a €5 million loan provided by the European Bank for Reconstruction and Development (EBRD). The EBRD is a leading institutional investor in Georgia. The Bank has invested over €3.8 billion in…