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• Covenant of Mayors in Eastern Partnership marks its 10 Years in the region

  Over the course of ten years of its fruitful work, the Covenant of Mayors East brought together national stakeholders, regional authorities, local governments, civil society, and communities from almost 500 municipalities from the six Eastern Partnership (EaP) countries. With more than 42% of the total population living in the municipalities committed to CoM East objectives, there is a clear positive trend of local authorities in the region joining the initiative.

  The cooperation within the initiative aims to embark on the path of energy and climate transition, share the experience among signatories of the project, exchange the best practices, take advantage of the technical expertise and funding opportunities, encourage each other, and jointly search for efficient solutions to shared obstacles.

  Organised in the framework of the EU-funded project Covenant of Mayors – Eastern Partnership, the high-level conference “10^th Anniversary of the Covenant of Mayors in the Eastern Partnership Region” will take place on 29-30 November 2022 in Tbilisi, Georgia. The Conference will host over 150 representatives, including local and national authorities, associations of local officials, and other stakeholders from Armenia, Azerbaijan, Georgia, Moldova, and Ukraine, along with the EU institutions, EU Member States and international organisations’ representatives.

  “I am very happy to see that the Covenant of Mayors initiative in the Eastern Partnership is ready to deliver on the goal of limiting global warming to 1.5°C. The ambition to cut emissions by 35% by 2030 demonstrates that your municipalities are truly stepping up to this challenge. With over 460 signatories, the Eastern Partnership region is a frontrunner and a great example for local authorities around the globe,” said Lawrence Meredith, Director for Neighbourhood East and Institution Building from the Directorate-General for Neighbourhood and Enlargement Negotiations (DG NEAR) at theEuropean Commission.

  During the Conference, speakers will present the progress achieved by the Covenant and its signatories, and will reaffirm the EU’s strong political will to support EaP authorities in designing and implementing sustainable policies. The event will offer opportunities for discussing the main bottlenecks and barriers encountered by the signatory cities, providing effective recipes for success. It will also outline the future of the initiative and EU support to EaP municipalities in the perspective of the Green Deal and other European initiatives. The workshops, taking place on the second day of the event, will create a space for dialogue between local, national, and EU representatives on the implementation of SECAPs, examples of demonstration projects, and climate policy objectives.

  Along with the project’s 10^th Anniversary in the Eastern Partnership countries, the event also marks the launch of the CoM East third phase that started its work earlier this year. Moreover, from 2014 to 2021 a total of 33 Covenant of Mayors demonstration projects were implemented in the framework of the initiative with the budget of around 38.5 M€.

  The Eastern Partnership countries, throughout the past ten years, were able to build a strong and supportive Covenant community, where both ministries and regional authorities’ associations play an important role by assisting the signatories in meeting their CO₂ reduction commitments and implementing climate change adaptation measures.

  For further information about the event, please contact the CoM East Secretariat Communication Manager, Ms. Elena Nikitina (This email address is being protected from spambots. You need JavaScript enabled to view it. ), or visit our website where you can find all project-related information, including newsletters, action plans, and detailed information on all six Eastern Partnership countries available in all respective languages: https://com-east.eu/en/

• EIB approves €4 billion credit line to support Ukrainian refugees in all EU countries

  On 18 May, the Board of Directors of the European Investment Bank (EIB) approved a €4 billion credit line (or programme loan) to help national authorities, cities, regions and local communities in all EU Member States address urgent investment needs and help welcome and integrate people fleeing the war against Ukraine.

  The EIB pledged these funds back in April, at ‘Stand Up for Ukraine’, a global pledging campaign for Ukraine and its refugees, but board approval was required. The EU and Canada then raised €9.1, including €4 billion from the EIB and €1 billion from the European Commission.

  The EIB credit line will help to provide this support by making financing available to the development of key infrastructure and services for refugees and host communities, such as housing, schools, hospitals and access to jobs. The financing can also cover eligible operational expenditures related to the supply of equipment, facilities and services for the integration of war refugees.

  This financial package will be complemented by EIB advisory support thanks to the EMBRACE Advisory Platform, a new initiative by the EIB and the European Commission.

  “All EU Member States can make use of this funding opportunity and bespoke advisory for projects that help refugees start a new life in their host countries,” said EIB President Werner Hoyer. “This initiative comes together with the €668 million support we gave in early March to the Government of Ukraine to cover their urgent liquidity needs; both are part of our Solidarity Package for Ukraine, which we set up together with the European Commission.”

  Find out more

  Press release

• GLOBALink | China Explainer: Special-purpose bonds expected to boost new investments

  In today's China Explainer, let's look at how special-purpose bonds, an important propeller of China's 2022 fiscal policies, play a key role in stabilizing its economy and employment.

  Produced by Xinhua Global Service

• Team Europe: EU and EIB invest in fast internet connection for rural Georgia

  The European Investment Bank, the Bank of the European Union, will invest up to EUR 34 million in the expanding a high-speed internet network bringing fast and reliable internet services to some 500,000 Georgians living in 1000 rural and remote settlements in Georgia. The investment from the EU bank will finance the installation of 5000 km of fiber optics telecommunications network and provide open-access infrastructure for Georgian telecom operators to provide their fast-internet services. The EU has provided a guarantee through the External Lending Mandate.
  This project supports improved digital connectivity as one of the five flagship initiatives for Georgia under the European Union’s Economic and Investment Plan for the Eastern Partnership
  This new EIB operation is a part of broader Team Europe efforts to support Georgia in digitalising, accelerating green and sustainable social and economic growth, and increasing nationwide resilience to natural disasters such as the COVID-19 pandemic.
  Carl Hartzell, Ambassador of the European Union to Georgia, said: “Investing in the digital transition in Georgia is key to stimulate jobs and growth and bring about prosperity. Through the EU Economic and Investment Plan, we have already started to deliver real benefits on the ground. This flagship programme will assist in bringing new opportunities and reduce digital inequalities between rural and urban areas by developing high-speed broadband infrastructure for around 1,000 rural settlements. I consider this an important contribution to Georgia’s modernisation and economic development and recovery, while promoting digital inclusion in line with its national broadband strategy.”
  Teresa Czerwinska, Vice President of the EIB, who is in charge of operations in Georgia, said: “Our investment in fast and reliable internet services for rural Georgia is more than another Team Europe investment to improve quality of life and doing business for Georgians. It supports digitalisation, the key to the long-term competitiveness of the Georgian economy and its sustainable and green development. Finally, this investment reinforces the recovery of the national economy from the pandemic. Together with Team Europe, EU4Digital the World Bank and the Government of Georgia, we are building modern infrastructure, a cornerstone for a modern and thriving Georgia. The EIB is proud to have contributed yet again towards this goal the whole of Team Europe shares with Georgia.”
  Lasha Khutsishvili, Minister of Finance of Georgia said: “One of the main priorities of the Government of Georgia is the development of the digital economy. The improvement of broadband infrastructure is of the utmost importance in this regard. With the support of our international partner institutions such as the European Union, the European Investment Bank and the World Bank, we are aiming for this goal. This aspiration is demonstrated by the “Rural Fibre Network Georgia” project financed by the European Investment Bank. As one of the flagship projects within the Eastern Partnership priorities, it will promote digital development of rural settlements, that will ultimately be reflected in their economic growth. In addition it is in full compliance with Georgia’s National Broadband Strategy and Government’s programme for 2021-2024. I would like to express my gratitude to the European Union for its continued support and willingness to provide assistance in supporting and advancing the priority sectors of Georgia“.

  Press Release of EU

• Team Europe: EIB provides €6 million for COVID-19 recovery for Georgian businesses

  The European Investment Bank (EIB), the bank of the European Union, has provided a €6 million loan to Terabank Georgia to support its local currency lending to micro, small and medium-sized enterprises (MSMEs) in the country. 

  The loan is part of the EIB’s SME Outreach Initiative, which promotes access to finance for MSMEs in Georgia by helping smaller banks in the country to offer tailor-made services and financial products to their clients.

  Covered by a guarantee from the European Union, the EIB financing aims to mitigate the impact of the COVID-19 pandemic and to contribute to an economic recovery that puts Georgia on a long-term sustainable growth track. As part of Team Europe, the EIB works hand in hand with other EU projects implemented in Georgia under the EU4Business brand.

  MSMEs are the backbone of the Georgian economy, and access to finance is one of the major challenges they face. To date, the EIB has invested over €300 million in credit lines for Georgian businesses, sustaining more than 54,000 jobs in the country.

  The material is prepared within the project "EU NEIGHBOURS east"