Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

European Bank boosts east European infrastructure

MOST INFRASTRUCTURE projects funded by the European Bank for Reconstruction & Development have helped boost the economies of eastern Europe over the last 10 years, according to a report released by the bank last week.

Some 80% of infrastructure schemes are rated as having had medium to high impact, with a further 10% showing limited but positive results.

The EBRD was launched 10 years ago by western European governments eager to promote the development of free market economies in the former communist states of eastern Europe.

It has so far financed projects worth over £31bn.

The EBRD's projects have been most successful where private sector, international financial partners are involved, the report states.

'Restructuring of enterprises with local sponsors has been impeded by insider management control, government influence and social constraints.

'Projects with local sponsors and managers have also typically been unable to meet the challenges of a fast changing operating environment. Close EBRD involvement was generally not sufficient to overcome these problems.'

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.