European Bank for Reconstruction and Development (EBRD)

European Bank for Reconstruction and Development (EBRD)

Introduction

The European Bank for Reconstruction and Development is currently exploring the alternative of moving some of of its member staff from the London headquarters. This is part of the new efficiency drive that was launched in the recent past. The bank is further considering to deliver various proposals as well as recommendations to its 65 shareholders as well as the government in the se3cond half of this year (EBRD, 2016). This paper will assess and discuss various projects that are being undertaken by EBRD.

Current Projects

EBRD is currently providing equity investments, loans as well as guarantees for both public and private sector projects. This is in various areas such as infrastructure, finance, commerce as well as in various industries The EBRD is working closely with corporation withy other international fiancé institutions such as the World Bank as well as the European Investment Bank (EBRD, 2016). The EBRD has been able to finance various socially harmful and environmental friendly projects. However, it is important to note that although there have been increased investments in regards to energy efficiency projects in the recent past, there has been diminishing impacts in regards to these finances (EBRD, 2016). This is as far as carbon-intensive development projects covering various energy-renewable such as gas, oil and coal production. This is besides generation, transportation as well as airports and motorways

According to the recent policies that have been developed by European Bank for Reconstruction and Development, the bank is committed towards the environment friendly including sustainable and sound development projects (EBRD, 2016). This is in the full range of various support technical cooperation as well as investments activities. The bank believes that social sustainability coupled with environmental issues is a fundamental aspect towards the process of achieving outcomes that are consistent with the bank’s transition mandate (EBRD, 2016). The bank is also recognizing various projects that enhance environmental and social sustainability. These projects rank among the bank’s top priority when compared with other activities.

Currently, all projects, which are financed by European Bank for Reconstruction and Development, are structured in such a way that the bank is able to meet particular performance requirements (EBRD, 2016). For instance, the bank is financing projects under community health, security and safety. In this context, it is important to note that EBRD is a signatory among the European principles that support sustainable environment by initiating projects that counteract pollution, prevention and the abetment issues (EBRD, 2016). The bank is further committed towards the adoption and implementation of practices, principles as well as substantive standards. In addition, EBRD normally finances projects at different levels regardless of the host country’s geographic location. However, in instances where the regulations of the host country tend to differ from the European Union’s substantive environmental standards, EBRD’s projects will then be expected to meet more stringent rules (EBRD, 2016).

Conclusion

In the recent past, concerns have been raised regarding EBRD’s function of financing various projects, which in their arguments are capable of getting financing options from other sources. This is when considering cases such as ArcelorMittal Termirtau or those other companies that have not demonstrated clear commitment towards the process of improving environmental as well as social governance such as Dundee Precious Metals. Moreover, several of EBRD’s financed projects or contracts have been seen to be involved in undue rewards in the private sector.

References

EBRD. (2016). Project Finance. Retrieved from> http://www.ebrd.com/work-with-us/project-finance.html. Date Accessed. August 11, 2017

 

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