European Bank for Reconstruction and Development to increase Israeli companies involvement by 50%

The Israel Export and International Cooperation Institute ( IEICI ) and the European Bank for Reconstruction and Development (EBRD) signed last week an agreement to increase the participation of Israeli companies in EBRD activity.
 
The IEICI estimate that the newly signed agreement will increase Israeli involvement in the EBRD activities by 50%, from the current $50 million to $75 million in 2006.
 
Under the agreement which was signed by EBRD's president Mr. Jean Lemierre and IEICI's director general Yechiel Assia, the Export Institute and EBRD will encourage technology transfer, training relating to the bank’s activities to Israeli private companies, entrepreneurs and advisors.
 
Israel Export Institute director Yechiel Assia said the EBRD invested a record $4.1 billion in 129 projects in the 27 countries where it operates in 2004. He added that the EBRD’s financial resources were available to Israeli companies willing to share the risk with the EBRD in various projects.
 
The EBRD is the largest single investor in central and eastern Europe and the CIS, where it has a strong presence through a network of over 30 local offices. EBRD staff combine sector expertise with in-depth knowledge of the social, economic and political conditions in each country.
 
The Bank takes a flexible approach and accommodates the needs of private investors. It takes long-term positions and is able to cope with political risk in each country and sector. It provides project financing for banks, industries and businesses, both new ventures and investments in existing companies.