EBRD ready to assist in pandemic response
The EBRD is ready to provide assistance in the amount of 21 billion euros in the fight against the COVID-19 pandemic. The Bank approved a set of response and recovery measures, in particular, a sustainability program, trade financing, support for new customers, etc. The bank is ready to consider the possibility of extending loan repayment periods, changes in the payment schedule, as well as other measures.
The EBRD is launching a Vital Infrastructure Support Program for companies to continue their operations, despite a sharp drop in revenue. It can be used by state, municipal and private providers of socially important services. The Bank will focus its support on sectors affected by the crisis and will use proven methods to ensure the quick and efficient receipt of its assistance directly or through local partner banks.
Already, the EBRD offers online consultations and trainings to governments and clients, helping them to find innovative political solutions, as well as in HR planning and crisis management.
In the future, the EBRD will consider launching a green recovery package with financial incentives for environmentally friendly investments.
The fight against the economic consequences of the coronavirus pandemic, which is now highlighted by the EBRD, also means that the bank remains open to new customers in all regions and all sectors in which it invests.
Recently, the Asian Development Bank has also provided financial support to developing countries in the region in a pandemic.
Myahri YAGMUROVA
