EBRD
The EBRD said it had financed a record number of projects in 2012, providing support in a particularly difficult environment for the countries where it invests. Bolstered by healthy profits in 2012, the bank remains well-equipped to reach out to emerging economies again this year and to help them prepare for economic recovery when it finally emerges. The bank expects to have made a 2012 net profit of around one billion Euro, after 173 million Euro in 2011.
The European Bank for Reconstruction and Development has named senior international banker Philip Bennett as First Vice President, in charge of all of its banking operations.
The European Bank for Reconstruction and Development has announced that its investments in energy efficiency and renewable energy have reached 10 billion Euro since the launch of its Sustainable Energy Initiative (SEI) in 2006.
The northern part of the newly-built bypass around the city of Constanta, on Pan-European Road Corridor IV, has opened to traffic. The southern part of the 22.9 kilometre bypass road was completed in 2011.
The EBRD is supporting further modernization of the transport infrastructure in Romania with a loan of up to 11.5 million Euro to finance the upgrade of the road system in the city of Sibiu.
