European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development (EBRD) on May 20 announced a $55 million loan to Garanti BBVA, the second-largest private lender in Turkey.

The European Bank for Reconstruction and Development (EBRD) report, entitled "Regional Economic Prospects", says that if a short-term effect of the COVID-19 epidemic is accepted, economies are expected to shrink by an average of 3.5% worldwide this year, compared to 4.8% in 2021, noting that these forecasts are uncertain due to uncertainty with the development of the crisis.

The Turkish economy, expected to shrink in 2021 like many other countries due to the coronavirus, will bounce back 6% in 2021, the European Bank for Reconstruction and Development (EBRD) said on May 13. 

"Turkey is likely to see a contraction of 3.5% in 2020 because of the economic impact of the coronavirus pandemic," the bank stressed in a press release.

The European Bank for Reconstruction and Development (EBRD) has downgraded its estimates of Romania's economic developments in 2020 as a result of the crisis caused by the coronavirus pandemic, according to the bank's latest Regional Economic Prospects published on Wednesday.

Heads of State or Government of the EU and the Western Balkans will hold a video meeting to discuss the spread of Covid-19 and misinformation. The meeting is not set to set a date for the start of accession talks with Northern Macedonia and Albania, as it was originally intended, if the meeting had taken place in Zagreb.

The virtual summit, organized by the EU Presidency of Croatia and chaired by European Council President Charles Michel, will be held from 4.30 pm to 7.30 pm.

The novel coronavirus pandemic is expected to cause "the greatest disruption to global economic activity since the Second World War," the European Bank for Reconstruction and Development (EBRD) said on April 8. 

It will affect the banks' emerging economies and rapid recovery is not guaranteed, the bank said in a statement.

This is part of the European Union's strategy for a global pandemic response

EU Enlargement Commissioner Oliver Varhelyi said today that the European Commission is allocating € 3.8 billion to the Western Balkans and its EU east and south neighbors to help fight the coronavirus, according to BGNES.

The Covid‐19 pandemic and its economic consequences present an unprecedented challenge to Greece and the world. The European Bank for Reconstruction and Development (EBRD) has established an emergency 1-billion-euro "Solidarity Package" of measures to support its economies.

The European Bank for Reconstruction and Development (EBRD) is ready to help Bulgaria decarbonize its emission-intensive economy, its vice president said.

A shift from fossil fuels would pose a serious challenge to the Balkan country, which depends on coal-fired electricity plants.