EBRD Chief Economist Erik Berglöf urges the countries where the Bank invests to place a high priority on the stabilisation of their banking systems as the region's growth slows sharply.

Press release I | II
Resources for Press
Podcast with Erik Berglöf

The EBRD's latest forecast for the countries where the EBRD invests predicts that growth will fall sharply in the face of global economic slowdown and the current financial crisis. The newly launched Transition Report sees the region's growth cut to 6.3 per cent in 2008 -- from 7.5 per cent in 2007 -- and a further steep drop to 3.0 per cent in 2009.

Transition Report 2008
Foreword by Erik Berglöf  (0.1Mb)
Podcasts with Heike Harmgart and Simon Commander
About the report
Press conference transcript  (0.1Mb)

President Mirow has announced plans to invest up to €7 billion in 2009 in response to the severe impact of the global economic crisis on central and eastern Europe, a record amount for any single year since the Bank was founded.

The plan represents an increase of over €1 billion in investments in 2009, or nearly 20 per cent above existing plans.

Press release
Пресс-релиз
EBRD projects

The impact of the global financial crisis on the banking sector of transition economies is the focus of a conference on 4 December at the EBRD headquarters in London. Key market participants share views about ways of achieving economic recovery in the region.

About the conference

Refugee women in Bosnia and Herzegovina have turned into successful entrepreneurs with finance from MI-BOSPO, a local leading microfinance institution. With 12 years of experience and over 25,000 borrowers, MI-BOSPO has now turned to the EBRD for finance that will help the company meet the demands of local small entrepreneurs.

Story

The EBRD plans to invest up to US$ 600 million in Turkey by 2010. Investments will contribute to the development of Turkey's private sector and reach out to areas away from the large metropolitan centres.

Press release
EBRD and Turkey