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EURO 24.5 BILLION TO BE PROVIDED IN SUPPORT OF BANKING SYSTEMS IN CENTRAL AND EASTERN EUROPE
PanARMENIAN.Net
09.03.2010 19:35 GMT+04:00
/PanARMENIAN.Net/ The European Bank for Reconstruction and Development,
the European Investment Bank Group, and the World Bank Group launched
a Joint IFI Action Plan in support of banking systems and lending to
the real economy in Central and Eastern Europe a year ago, on February
27, 2009. The objective was to support banking sector stability and
lending to the real economy in crisis-hit Central and Eastern Europe,
International Financial Corporation press service told PanARMENIAN.Net.
The institutions put together a financing plan of up to EURO 24.5
billion for 2009-2010 and committed to deploy rapid assistance in a
coordinated manner, according to each institution's policy and product
remit. They sought to complement financing with efforts to coordinate
national support packages and policy dialogue among key stakeholders
in the region, in close collaboration with the International Monetary
Fund and the European Commission, and other key European institutions.
The institutions have already made available over EURO 19 billion
in 2009 in crisis-related financial support for financial sectors in
the region.
"The resources not yet taken up remain available for mobilisation
during 2010 and beyond; each institution believes on the basis
of present forecasts that these resources will be utilized," the
statement said.
World Bank is a term used to describe an international financial
institution that provides leveraged loans to developing countries for
capital programs. The World Bank has a stated goal of reducing poverty.
The EBRD, owned by 61 countries and two intergovernmental institutions,
is supporting the development of market economies and democracies in
countries from central Europe to central Asia.
The European Investment Bank was created by the Treaty of Rome in
1958 as the long-term lending bank of the European Union.
The task of the Bank is to contribute towards the integration, balanced
development and economic and social cohesion of the EU Member States.
PanARMENIAN.Net
09.03.2010 19:35 GMT+04:00
/PanARMENIAN.Net/ The European Bank for Reconstruction and Development,
the European Investment Bank Group, and the World Bank Group launched
a Joint IFI Action Plan in support of banking systems and lending to
the real economy in Central and Eastern Europe a year ago, on February
27, 2009. The objective was to support banking sector stability and
lending to the real economy in crisis-hit Central and Eastern Europe,
International Financial Corporation press service told PanARMENIAN.Net.
The institutions put together a financing plan of up to EURO 24.5
billion for 2009-2010 and committed to deploy rapid assistance in a
coordinated manner, according to each institution's policy and product
remit. They sought to complement financing with efforts to coordinate
national support packages and policy dialogue among key stakeholders
in the region, in close collaboration with the International Monetary
Fund and the European Commission, and other key European institutions.
The institutions have already made available over EURO 19 billion
in 2009 in crisis-related financial support for financial sectors in
the region.
"The resources not yet taken up remain available for mobilisation
during 2010 and beyond; each institution believes on the basis
of present forecasts that these resources will be utilized," the
statement said.
World Bank is a term used to describe an international financial
institution that provides leveraged loans to developing countries for
capital programs. The World Bank has a stated goal of reducing poverty.
The EBRD, owned by 61 countries and two intergovernmental institutions,
is supporting the development of market economies and democracies in
countries from central Europe to central Asia.
The European Investment Bank was created by the Treaty of Rome in
1958 as the long-term lending bank of the European Union.
The task of the Bank is to contribute towards the integration, balanced
development and economic and social cohesion of the EU Member States.