JUNE 23 2015 (The Conway Bulletin) – Armenia’s parliament approved a $150m loan from the Eurasian Development Bank (EDB) to build a north-south motorway across the country. The EBD is headquartered in Almaty and is bankrolled mainly by Russia and Kazakhstan. It concentrates on member states of the Kremlin-led Eurasian Economic Union.
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(News report from Issue No. 237, published on June 25 2015)
JUNE 5 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) said lending to projects in Kazakhstan would hit a record $1b this year as the country diversifies away from oil, gas and other extractive minerals.
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(News report from Issue No. 235, published on June 11 2015)
DEC. 3 2015 (The Conway Bulletin) — The European Bank for Reconstruction and Development (EBRD) said it had lent Kazakhstan’s flagship airline Air Astana $14m for the construction of an aircraft maintenance facility. The new facility will be built at Astana International Airport. Air Astana is the region’s biggest airline. Britain’s BAE Systems owns a 49% stake. Samruk-Kazyna owns 51%.
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(News report from Issue No. 260, published on Dec. 11 2015)
JUNE 2 2015 (The Conway Bulletin) – On a trip to Bishkek, the European Bank for Reconstruction and Development (EBRD) president Suma Chakrabarti said that it planned to invest $70m in Kyrgyzstan to boost its investment climate. Mr Chakrabarti highlighted the need for investment in local currency and capital markets.
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(News report from Issue No. 234, published on June 4 2015)
MAY 20 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) said it had agreed a €3.5m, 15-year loan with Armenia to build the country’s first EU-compliant landfill site. The EU has also agreed a €3.5m grant for the project.
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(News report from Issue No. 232, published on May 20 2015)
MAY 18 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) has signed a deal with the Tajik government to help it update and modernise its power network. The agreement is part of general modernisation linked to the CASA-1000 deal that will see Tajikistan export electricity to Pakistan.
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(News report from Issue No. 232, published on May 20 2015)
MAY 13 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) holds its 24th annual meeting and business forum in Tbilisi May 14-15, placing Georgia firmly at the centre of the region’s attention.
Georgia is the first country in the Caucasus to host the annual EBRD meeting. Uzbekistan hosted the event in 2003. The Bank is a major player in Georgia, and has invested a total of $3b over the last 22 years.
This meeting is strategically important for Georgia to demonstrate its economic development, especially now, when the country is mired in a currency crisis. The lari has lost around 32% of its value since November.
Deputy minister of finance Davit Lezhava said the meeting was a perfect opportunity to spread information about Georgia to the outside world.
“I hope that the meeting will result in more investment, greater integration with the democratic world and in more political support,” Mr Lezhava told the Bulletin.
Over $7.2m was spent in preparing the EBRD annual meeting by the private sponsors and the government, media reported.
Mr Lezhava said that he didn’t know how much came from the state’s budget.
“But whatever the governmentcontribution was, it is not a waste of money because we will have great benefits from this event,” he said.
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(News report from Issue No. 231, published on May 13 2015)
MAY 8 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) said it will give a syndicated loan for the second phase development of the Caspian Sea Shah Deniz gas project. EBRD President Suma Chakrabarti said on a visit to Baku that the size and timeframe were undecided.
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(News report from Issue No. 231, published on May 13 2015)
MAY 6 2015 (The Conway Bulletin) – The Asian Development Bank (ADB) and Azerbaijan have signed a Memorandum of Understanding worth $1b to modernise the country’s power distribution network, media reported. The ADB will give three tranches of $250m, totalling $750m, and Azerbaijan will provide the final $250m.
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(News report from Issue No. 230, published on May 6 2015)
APRIL 13 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development has agreed to give Kazakhstan Temir Zholy, the Kazakh national rail company, a loan of $200m to restructure its debt, media reported. Temir Zholy has been upgrading rapidly over the past few years.
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(News report from Issue No. 227, published on April 15 2015)
