The European Union (EU) and its member states are the world's largest development donor, but the European financial architecture for development suffers from well-documented problems of ...fragmentation. EU member states' decision to convene the Wieser Group in April 2019 raised expectations over rationalising the roles of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). However, the Council of the EU showed little enthusiasm for the group's call to create a single entity for external development finance. Twelve months later, member states endorsed Team Europe, an alternative approach which mobilises the resources of the EIB, the EBRD, the European Commission and national development finance institutions in support of shared development goals. This article seeks to explain why the Council ultimately preferred Team Europe's coordinated approach to the Wieser Report's centralised vision of a European Climate and Sustainable Development Bank. In keeping with new intergovernmentalism, we find that member states' willingness to cooperate but reluctance to delegate, and the aim of EU institutions to protect their turf, favoured Team Europe. We see few reasons to expect radical changes in this domain despite continued doubts over the effectiveness and coherence of European development finance.
The second volume of the history of the European Bank for Reconstruction and Development (EBRD) takes up the story of how the Bank has become an indispensable part of the international financial ...architecture. It tracks the rollercoaster ride during this period, including the Bank's crucial coordinating role in response to global and regional crises, the calls for its presence as an investor in Turkey, the Middle East and North Africa and later Greece and Cyprus, as well as the consequences of conflicts within its original region. It shows how in the face of the growing threat of global warming the EBRD, working mainly with the private sector, developed a sustainable energy business model to tackle climate change. Transforming Markets also examines how the EBRD broadened its investment criteria, arguing that transition towards sustainable economies requires market qualities that are not only competitive and integrated but which are also resilient, well-governed, green and more inclusive. This approach is aligned with the 2015 Paris Agreement and the international community's 2030 Agenda for Sustainable Development, with its core set of 17 sustainable development goals. The story of the EBRD's own transition and rich history provides a route map for building the sustainable markets necessary for future growth and prosperity.
Since its inception in 1991, the EBRD has had a strong environmental agenda, which it 'exported' to post-Communist Europe and Asia. We posit that the post-Soviet states have decreased their carbon ...emissions more than the average states borrowing from the EBRD as they were more affected by the economic crisis associated with the end of the Soviet Union. However, the post-Soviet states have also been approached by China through a number of regional initiatives launched across Eurasia. Therefore, we further hypothesise that states borrowing from the EBRD that have been aligned with China have higher carbon emissions. We employ a sample of 32 states that borrowed from the EBRD between 1991 and 2015. Through panel-data linear regressions with heteroscedasticity-corrected robust standard errors, we corroborate our hypotheses. This study contributes to a better understanding of new actors in global environmental politics and their role in sustainable development in Eurasia and beyond.
In today’s world, each country has its own methods of financing civil society organisations (CSOs) and the peculiarities of the distribution of the financial burden between the state, private ...organisations, and donor funds of international financial institutions. Regulatory and institutional mechanisms of both national and global civil society organisations directly affect the funding potential of the state and its people. In addition, the state also plays an important role both in financing transnational activities and in facilitating or hindering the inflow of funds through the establishment of various tax regimes. In view of this, the study of CSOs funding by donor funds of international financial institutions (IFIs) is appropriate because civil society organisations are a necessary precondition for the establishment of a democratic world order. The article is devoted to the study of the main trends and aspects of interaction between international financial institutions and civil society organisations in terms of financial support of the latter. The author analyses the mechanisms of financing civil society organisations by the World Bank Group based on statistical information and research of international institutions. The article also examines the sectoral structure of projects and the regional structure of partners in the framework of the Global Partnership for Social Accountability (GPSA) as a fundamental financial mechanism of the World Bank. The author outlines the relationship between civil society organisations and the European Bank for Reconstruction and Development. The purpose of the article is to study and analyse the financial mechanisms of the World Bank as the main donor for the financial support of civil society organisations. Methodology. This study is based on the use of the methodological principle of unity of theory and practice. The methodological basis of the article includes the methods of quantitative and qualitative comparisons, analysis and synthesis, and systems-structural analysis.
The paper asks what role the European Bank for Reconstruction and Development (EBRD) plays in coordinating policy reform in post-crisis Eastern Central Europe (ECE). How did the EBRD attempt to ...mitigate the effects of the crisis and what role did the institution play in the configuration of a post-crisis European political economy? The paper analyses the content of the annual EBRD Transition Reports (TR) as representation of thinking in the EBRD Chief Economist's Office on the salient concerns relevant to its region of operations. The paper analyses TRs from 2007 to 2013 assessing the discursive shifts inside the EBRD establishing (1) how the TRs frame whether the region is in crisis, (2) apportioning censure for causing crisis and (3) how the EBRD TRs delineate the development of appropriate policy responses to the crisis. In conclusion the paper situates these processes as evidence of a further iteration of 'fail forwards' neoliberalization.
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BFBNIB, DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, UILJ, UKNU, UL, UM, UPUK
"After the Berlin Wall' tells the inside story of an international financial institution, the European Bank for Development and Reconstruction (EBRD), created in the aftermath of communism to help ...the countries of central and eastern Europe transition towards open market-oriented democratic economies. The first volume of a history in two parts, After the Berlin Wall charts the EBRD’s life from a fledgling high-risk start-up investing in former socialist countries from 1991 to become an established member of the international financial community, which (as of April 2020) operates in almost 40 countries across three continents. This volume describes the multilateral negotiations that created this cosmopolitan institution with a ‘European character’ and the emergence of the EBRD’s unique business model: a focus on the private sector and a mission to deliver development impact with sustainable financial returns. The author recounts the challenges that ‘transition’ countries faced in moving from a defunct to a functioning economic system and maps the EBRD’s response to critical events, from the dissolution of the Soviet Union, to the safe confinement of the Chernobyl disaster site, the debt default in Russia and the onset of the global financial crisis in 2008."
This contribution explores a new addition to the range of international awards available for literary translation into English, the EBRD Literature Prize. It was founded by the European Bank for ...Reconstruction and Development (EBRD) with the key objective of broadening the range of translated literatures available to the wider Englishspeaking public. The Prize was created in 2017 and it has been awarded four times to date. Accordingly, building on a brief overview of the broader role of prizes and awards within the global literary translation market, the genesis and rationale which underpin the EBRD Literature Prize are presented and highlighted. This information provides the basis for the subsequent exploratory analysis, which uses the regional groupings of the EBRDs countries of operations as a preliminary framework of reference. As such, using the relevant publicly-available data, the geographical and linguistic origins of the translated literary works which have been shortlisted and longlisted for the Prize are outlined and discussed. The main aim is to determine whether any specific trends can be identified in the relevant works. Subsequently, the findings of these observations are presented, and, in recognition of the exploratory nature of this contribution, some possible indicators for additional research on the topic are offered
The article covers the essence and role of the international financial organization: the European Bank for Reconstruction and Development (EBRD). The basic principles of the development of relations ...between the EBRD and Ukraine are analyzed. The basic principles of the EBRD’s activities in Ukraine are defined, development trends and features of cooperation are highlighted. The dynamics of the Bank’s investment projects in Ukraine are analyzed in quantitative terms. The current status of the projects’ financing is characterized. The author researches the main areas of financing (infrastructure, financial sector, energetics, industrial, trade and agribusiness sectors) regarding the joint projects of Ukraine and the EBRD aimed at increasing the competitiveness of the economy, supporting structural reforms, improving the standard of living and well-being of the population. Focus is made on the factors that limit the development of this cooperation. The structure of the EBRD’s crediting portfolio in Ukraine as of August 31, 2019 is analyzed. In order to understand the role of the European Bank for Reconstruction and Development as a strategic partner, influencing the development of the national economy, the projects under implementation in different industries are analyzed and the basic positive aspects of the impact of these projects are defined. The main areas of technical assistance provided by the Bank are displayed. Prospect for further research in this direction is determining the ways to increase the investments by the European Bank for Reconstruction and Development in Ukraine and the benefits of attracting its financial resources to support development processes and stabilizing the national economy.