DOCUMENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT MINUTES OF THE BOARD MEETING OF 1 MAY 2013

Transcription

1 DOCUMENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT MINUTES OF THE BOARD MEETING OF 1 MAY 2013

2 Meeting of the Board of Directors 1 May 2013 List of Attendance Chairman President First Vice President Phil Bennett Secretary General Enzo Quattrociocche General Counsel Emmanuel Maurice Directors Alternate Directors Memduh Akçay Virginia Gheorghiu Claire Dansereau Alain de Cointet Jérôme Baconin Toshiyuki Furui Nobuyuki Oyama Michel Grilli Werner Gruber Artem Shevalev Zbigniew Hockuba Stefka Slavova Ole Hovland Jorma Korhonen James Hudson András Kármán Giorgio Leccesi Vassili Lelakis Peter Basch Abel Mateus Anthony Bartzokas Pedro Moriyón Enrique Bal Denis Morozov Sergey Verkashanskiy Jonathan Ockenden Gary Roberts Eoin Ryan Ole Blöndal Joachim Schwarzer Joachim Steffens Johannes Seiringer Eran Pollak Jean-Louis Six Irena Sodin In-chang Song Bob McMullan Eva Srejber Kalle Killar Paul Vlaanderen Jan Maas Secretariat Nikola Milushev Staff Betsy Nelson Hans Peter Lankes Erik Berglöf Jean-Marc Peterschmitt Josué Tanaka Nick Tesseyman Jonathan Charles David Klingensmith Enery Quinones Alan Rousso Franklin Steves Oleg Levitin Claudio Viezzoli Henry Russell Marinela Avdullaj Noel Edison Junghwa Oh Andreea Moraru Dobrin Staikov Francis Malige Allan Popoff Oksana Pak Izzet Guney Ho-Shik Lim Nandita Parshad Ian Brown Kevin Bortz Paul Shapiro Jean-Patrick Marquet Paul Covenden Denis Terentyev Umed Saidov

3 1 Adoption of the Agenda The Agenda was approved, subject to consideration of the minutes being postponed. 2 Minutes of the Board Meeting of 16 April 2013 Consideration of the minutes was postponed. 3 Country Strategy Updates 2013 Report by the Chair of the Financial and Operations Policies Committee The Board approved the Country Strategy Updates Strategy for FYR Macedonia Report on the invitation to the public to comment The Board approved the Strategy for FYR Macedonia. The Strategy will provide strategic, operational and policy guidelines for the bank s activities in FYR Macedonia for the next three-year period. 5 Strategy for Kosovo Report on the invitation to the public to comment The Board approved the Strategy for Kosovo that will cover the period The Strategy will provide strategic, operational and policy guidelines for the Bank s activities in Kosovo during the next strategy period. 6 Kosovo: Kosovo Sustainable Energy Projects Framework (KoSEP) Sub-projects: TEB and KRK The Board approved the Kosovo Sustainable Energy Projects Framework (KoSEP) which will make available an aggregate amount of up to EUR 12 million to qualifying Participating Financial Institutions in Kosovo for investments in energy efficiency and renewable energy projects. Together with the Framework, the Board approved two sub-projects; a loan of EUR 5.0 million to TEB SH.A and a loan of EUR 1.5 million to Kreditimi Rural i Kosoves.

4 7 Serbia: Unicredit Bank Serbia and Unicredit Leasing Serbia - SME Credit Lines The Board approved the SME Credit Line of EUR 30.0 million in favour of Unicredit Bank Serbia and the SME Credit Line of EUR 15 million in favour of Unicredit Leasing Serbia. Both loans will be used to support the expansion of the private SME and leasing sectors in Serbia. 8 Slovenia: Project Mirna The Board approved the project. Disclosure delayed in accordance with Section E.2 of the Public Information Policy. 9 Turkey: Isbank - Comprehensive Financing Facility - Turkey: Private Sector Sustainable Energy Financing Facility (TurSEFF) - Extension - Turkey: Turkey Agribusiness SME Financing Facility (TurAFF) Extension The Board approved a three-tranched financing facility of EUR 150 million equivalent available to Türkiye IsBankasi over the period of 3 years on the basis of senior unsecured loans disbursed in EUR, USD of TRY and/or investments in rated senior EUR or USD denominated Diversified Payment Rights ( DPR ). The facility will be used for on-lending to three target SME groups: private sector borrowers for energy efficiency and small-scale renewable energy investments, SMEs active in the agricultural sector and female-owned or managed SMEs.The Board approved an increase of the Turkish Sustainable Energy Financing Facility ( TurSEFF ) Extension I by EUR 50 million to USD 265 million (EUR 204 million equivalent) and the Turkish Agribusiness Financing Facility ( TurAFF ) by EUR 50 million to EUR 250 million to allow specifically for Isbank s financing under the proposed operation. The Board approved an amendment to TurSEFF-Extension I and TurAFF to i) broaden eligible financial instruments to include notes issued under a DPR programme and ii) to increase the maximum tenor of Bank financing from five to seven years. 10 Romania: Cosmote Romania The Board approved the project. Disclosure delayed in accordance with Section E.2 of the Public Information Policy.

5 11 Montenegro: EPCG Metering and Distribution Project Extension The Board approved a loan of up to EUR 30 million to Elektroprivreda Crne Gore AD Nikšić. The loan proceeds will fund the purchase and installation of additional electronic electricity meters together with associated infrastructure, communications equipment, training and commissioning. 12 Albania: Patos Marinza Extension and Restructuring The Board approved increasing and restructuring the existing long term borrowing base loan to Bankers Petroleum of USD 50 million by an additional USD 50 million with an extended tenor. The new proceeds and the tenor extension will support this medium sized private oil company in the further redevelopment and environmental remediation of the largest Albanian oil field. 13 Turkey: Izmir Ferries Project The Board approved a loan of EUR 33.0 million to the City of Izmir to finance the acquisition of three car ferries and the construction of four wharves and a maintenance facility. 14 Russian Federation: Yakutsk Water Modernisation Project The Board approved a loan of RUB 2.1 billion (EUR 51.7 million) to OJSC Vodokanal of the City of Yakutsk. The loan will be used to support modernisation of the water supply system, improving water quality for the residents and enhancing the energy efficiency of water and wastewater services provision in the City. The Board approved the application for financing from the Shareholder Special Fund for technical cooperation support of EUR 640, Tajikistan: Kurgan-Tyube Solid Waste The Board has approved a sovereign loan of USD 2 million (EUR 1.5 million). The proceeds of the loan will be used to improve municipal solid waste management in Kurgan-Tyube city. 16 Other Business No decisions were taken under Other business.