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Banking: Odile Renaud-Basso takes stock of the EBRD's 30 years of existence

16/04/2021
Categories: Index/Markets

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In an interview with Le Figaro, the president, Odile Renaud-Basso, takes stock of the 30 years of the European Bank for Reconstruction and Development (EBRD). Created at the fall of the Berlin Wall in May 1990, the bank has since extended its areas of intervention to Central Asia and the Mediterranean region

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The first countries for which the EBRD intervened have for the most part joined the European Union. There has been a phenomenon of fundamental transformation towards a market economy, of catch-up and convergence with Western Europe.
The EBRD has implemented a solidarity package by adapting its instruments to the management of the pandemic crisis, with rapid responses in the form of liquidity loans, loans for public infrastructure, such as the electricity grid in Tunisia.
As part of the health crisis, the bank intervened in several countries such as Turkey, Egypt and Ukraine with financial commitments of 11 billion euros, the highest level ever reached.
It provided financing for trade flows, whereas banks took fewer risks. In addition, some exceptional operations, such as in Turkey in the field of health, have been carried out to help hospitals buy equipment. We also restructured debt and advised SMEs to adapt to the crisis, for example dematerializing their services on the web

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