27 Sep NIB launches loan programme with Norway’s Sparebanken Sør

NIB and Norway’s Sparebanken Sør have signed a NOK 750 million (EUR 80 million) loan programme for onlending to small and medium-sized enterprises’ (SMEs) investments and environmental projects.

The funds under the loan programme will be onlent for SMEs’ investments in machinery, equipment and new premises, as well as for environmental projects, such as the improvement of energy efficiency in the regions of Vest-Agder, Aust-Agder and Telemark in southern Norway, where Sparebanken Sør provides financial services. The loan programme is expected to alleviate credit constraints for small and medium-sized companies and thereby facilitate the growth of their productivity and competitiveness.”

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26 Sep Rwanda Implements the IMF’s Enhanced General Data Dissemination System

“On September 22, 2017, the authorities of Rwanda began publishing important macroeconomic data on the website of the National Institute of Statistics—theNational Summary Data Page (NSDP). This marks the culmination of recent efforts by the principal statistical agencies working together to publish the data recommended under the International Monetary Fund’s (IMF) enhanced General Data Dissemination System (e-GDDS), while utilizing the Statistical Data and Metadata Exchange. In support of these efforts, a staff team from the IMF’s Statistics Department visited Kigali during July 12-18, 2017 to assist with the implementation of the e-GDDS.”

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25 Sep European Investment Fund, UNDP accord to boost cooperation to achieve Global Goals

“NEW YORK, 20 September, 2017 -The United Nations Development Programme (UNDP) and the European Investment Fund (EIF) today signed a Memorandum of Understanding (MoU) that will boost cooperation between the two institutions.

The MoU emphasises the role small and medium size enterprises (SMEs) will play in achieving the Sustainable Development Goals (SDGs).

The MoU was signed by UNDP Administrator Achim Steiner, and President of the European Investment Bank (EIB) Werner Hoyer, in the margins of the UN General Assembly in New York.”

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14 Sep Invitation to Green City cluster network meeting 14 th september 2017

“Swedish-East Africa Chamber of Commerce (SWEACC) has establish a new cluster within the area cleantech focused on Eastern-Africa. We call this cluster Green City and this cluster network will be managed by Mr Per-Olof Seman who has long experience of cleantech and infrastructure project in the sub-Sahara region. Last year SWEACC arranged several network meetings focusing on energy and finance in East Africa. This was very popular and Green City is a development from those meetings. We focus on urban challenges first but will not forget the challenges we also can find in rural areas. Waste to energy, water purification and sustainable energy solutions are very important topics in East Africa. Picture above is from Uganda where companies are looking for partners in Sweden to develop their recycling business. Focus is waste to energy, electronic waste and other hazarders waste.”

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13 Sep CDB announces support for countries affected by Hurricane Irma

“The Caribbean Development Bank (CDB) has announced support for its Borrowing Member Countries (BMCs) affected by Hurricane Irma, and for the Caribbean Disaster Emergency Management Agency (CDEMA), which is coordinating the Region’s response to the affected states.

The Bank is in the process of providing Emergency Relief Grants to Anguilla, Antigua and Barbuda, The Bahamas, the British Virgin Islands and the Turks and Caicos Islands. These Grants, totalling USD200,000 each, will assist with costs associated with damage assessments and the provision and transportation of emergency relief supplies, water and sanitation resources, roofing materials for emergency shelters and community buildings, and temporary shelter for displaced persons.”

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12 Sep MDBs increase 2016 financing to tackle climate challenge

“EBRD on track to meet Paris accord commitments.

The world’s six largest multilateral development banks (MDBs) continued to make a strong contribution to the global climate challenge in 2016, increasing their climate financing in developing countries and emerging economies last year to US$ 27.4 billion from US$ 25 billion in 2015.

Of the 2016 total, US$ 21.2 billion or 77 per cent was dedicated to climate mitigation finance, with the remaining 23 per cent devoted to climate adaptation.

Combined with additional co-financing from other investors, the total amount of finance mobilised for climate action reached US$ 65.3 billion last year.”

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08 Sep AIIB Supports Renewable Energy Development in Egypt

“Up to $210 million in financing will support 11 solar power projects

The Asian Infrastructure Investment Bank announced up to US$210 million in debt financing to tap Egypt’s renewable energy potential. This solar power project will increase Egypt’s power generation capacity, reduce the country’s dependence on gas and fuel for electricity generation, and will help the country meet its commitments under the Paris Climate Agreement as it moves towards an environmentally sustainable energy mix.”

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06 Sep EXIM Extends Assistance Measures to U.S. Exporters in Federal Disaster Areas Affected by Hurricane Harvey

“Washington, D.C. – Today the Export-Import Bank of the United States (EXIM) announced that the agency is extending provisions to assist U.S. exporters and financial institutions located in those areas of Texas and Louisiana that have been declared federal disaster areas by the Federal Emergency Management Agency due to the effects of Hurricane Harvey.

“The people of  the Export-Import Bank extend our thoughts and prayers to all those affected by this storm and thank our fellow Americans who are dedicating their time to help neighbors in need,” said EXIM Acting Chairman and President Charles J. Hall. “As our customers cope with the impact of this devastating storm, EXIM stands ready to help these valued businesses get back on their feet. We hope that these measures especially benefit small businesses during the recovery period, and therefore we’re extending the time frames of working capital facilities and the deadlines of insurance policies and claims filings.””

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05 Sep Swedish pension fund Alecta invests USD 100M in the NN-FMO Emerging Markets Loan Fund

“Alecta allocates 100 million dollars to invest in the NN-FMO Emerging Markets Loan fund. To Alecta, this investment presents an attractive opportunity to finance sustainable development projects while generating stable returns to our beneficiaries.

As the Agenda 2030 and the UN Sustainable Development goals are increasingly immersed in the discussions in the corporate and financial arena, impact investing is emerging as a strong theme within responsible and sustainable investment.”

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31 Aug EBRD backs largest subordinated bond in Polish banking sector

“PKO BP raises finance for green residential loans

The EBRD has invested PLN 91.4 million (€21.4 million equivalent) in zloty-denominated subordinated bonds issued by the Polish lender PKO Bank Polski S.A. (PKO BP) as part of its PLN 1.7 billion (€400 million equivalent) bond programme.

This is the largest subordinated bond issuance by a Polish bank on the local capital market to date. It attracted a substantial order book with orders coming from over 100 investors from Poland.

The Tier II capital eligible bonds have a 10-year maturity, are callable after 5 years and will be listed on the Warsaw Stock Exchange. The bonds are compliant with the EU Capital Requirements Regulation and Capital Requirements Directive IV (commonly referred to as CRR/CRD IV or Basel III).”

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