se times
03/12/2010
The European Bank for Reconstruction and Development ventures into the tourism sector. Also in business news: two Kosovo sectors have exceeded their revenue expectations and Cyprus development projects see an injection of funds.
The European Bank for Reconstruction and Development ventures into the tourism sector. Also in business news: two Kosovo sectors have exceeded their revenue expectations and Cyprus development projects see an injection of funds.
The European Bank for Reconstruction and Development (EBRD) will lend 37m euros to boost Montenegro's resort of Sveti Stefan. Representatives of the bank and Adriatic Properties, the developer of the island, signed the deal on Wednesday (December 1st). This is EBRD's first investment in the country's tourism sector.
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he Italian government has issued loans worth 30m euros to support small- and medium- enterprises in Albania. The low-interest loans will assist companies operating in the technology and innovation sector to increase competition on the local and international market.
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Kosovo's Customs and Tax Administration has exceeded its revenue forecasts for 2010, the finance and economy ministry announced on Wednesday (December 1st). The institutions collected about 835m euros as of this week, which is 2.4% more than revenues collected throughout 2009.
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Turkey's Koc Holding and US energy company AES plan to invest in gas, hydro and coal power plants in Turkey, representatives announced on Wednesday (December 1st). AES CEO Paul Hanrahan stressed that the company plans to invest up to $5 billion in energy projects in the country, and is also interested in planned power plant privatisation tenders.
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The European Bank for Reconstruction and Development (EBRD) announced a 200m-euro co-financing framework Wednesday (December 1st), aimed to support the modernisation of Romanian water utility infrastructure. The funds will help municipalities utilise grant funding from the EU Cohesion Fund. The EBRD believes that the framework will mobilise additional investments of nearly 1.5 billion euros in water and wastewater infrastructure.
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A significant improvement in Bulgaria's absorption of funds from the Regional Development programme of the EU structural and cohesion funds is expected in 2011, Regional Development Minister Rosen Plevneliev said on Wednesday (December 1st). Payments from the programme could reach 500m euros, or 26% of the total commitment appropriations under the programme, he said. This would represent a significant acceleration, given that the level of payments currently, nearly three years after the start of the budget framework, stands at a little over 10% of the total.
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The Council of Europe's Development Bank will provide 150m euros in loans for development projects in Cyprus. The three agreements were signed by Bank Governor Raphael Alomar, Finance Minister Harilaos Stavrakis and Nicosia Mayor Eleni Mavrou on Wednesday (December 1st). The money will be used to build new schools, fund Nicosia's development programme and upgrade the sewage system in Paphos.
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Kosovo's Customs and Tax Administration has exceeded its revenue forecasts for 2010, the finance and economy ministry announced on Wednesday (December 1st). The institutions collected about 835m euros as of this week, which is 2.4% more than revenues collected throughout 2009.
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Turkey's Koc Holding and US energy company AES plan to invest in gas, hydro and coal power plants in Turkey, representatives announced on Wednesday (December 1st). AES CEO Paul Hanrahan stressed that the company plans to invest up to $5 billion in energy projects in the country, and is also interested in planned power plant privatisation tenders.
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The European Bank for Reconstruction and Development (EBRD) announced a 200m-euro co-financing framework Wednesday (December 1st), aimed to support the modernisation of Romanian water utility infrastructure. The funds will help municipalities utilise grant funding from the EU Cohesion Fund. The EBRD believes that the framework will mobilise additional investments of nearly 1.5 billion euros in water and wastewater infrastructure.
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A significant improvement in Bulgaria's absorption of funds from the Regional Development programme of the EU structural and cohesion funds is expected in 2011, Regional Development Minister Rosen Plevneliev said on Wednesday (December 1st). Payments from the programme could reach 500m euros, or 26% of the total commitment appropriations under the programme, he said. This would represent a significant acceleration, given that the level of payments currently, nearly three years after the start of the budget framework, stands at a little over 10% of the total.
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The Council of Europe's Development Bank will provide 150m euros in loans for development projects in Cyprus. The three agreements were signed by Bank Governor Raphael Alomar, Finance Minister Harilaos Stavrakis and Nicosia Mayor Eleni Mavrou on Wednesday (December 1st). The money will be used to build new schools, fund Nicosia's development programme and upgrade the sewage system in Paphos.
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Republika Srpska's (RS) railway company ZRS has been negotiating the purchase of 400 new freight wagons from a factory in Valjevo, Serbia, RS Deputy Transport Minister Marinko Biljanovic said on November 29th. The order will be worth 40m euros. The ZRS has already agreed to the delivery of 200 wagons from Poland for 20m euros. Overall, the company needs 800 new wagons, Biljanovic said.
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A Macedonian-Romanian business forum took place on Wednesday (December 1st) in Skopje. Businessmen from the two countries identified construction and the energy sector as fields of mutual interest for co-operation. Trade exchange between Macedonia and Romania in the first nine months of this year reached $134.3m -- an increase of 71.8% compared to last year.
(Various sources -- 26/11/10-03/12/10)
This content was commissioned for SETimes.com.
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A Macedonian-Romanian business forum took place on Wednesday (December 1st) in Skopje. Businessmen from the two countries identified construction and the energy sector as fields of mutual interest for co-operation. Trade exchange between Macedonia and Romania in the first nine months of this year reached $134.3m -- an increase of 71.8% compared to last year.
(Various sources -- 26/11/10-03/12/10)
This content was commissioned for SETimes.com.
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