How can development banks best support growth in Central, Eastern and South Eastern Europe?
European Macroeconomics & Governance
Bruegel was delighted to welcome the vice-presidents of the European Investment Bank, the European Bank for Reconstruction and Development and the World Bank, together with guests from the Vienna Institute for International Economic Studies for a discussion of the three development banks’ recent Joint IFI Action Plan (JIAP) in Central, Eastern and South Eastern Europe (CESEE).
As the financial crisis became a longer recession, it was soon clear that CESEE was especially vulnerable. More than a decade of convergence with the richer economies to the west was at risk, as sluggish export markets and frozen credit lines suppressed CESEE’s potential for growth. To shore up the economy and lay the ground for a return to sustainable long-term growth, the three international development lenders renewed their efforts to provide loans across the region. They coordinated support for projects such as infrastructure investment, financial market stabilisation and credit guarantees for SMEs.
- What was the impact of this intervention?
- How successful was the cooperation between the three institutions?
- How can the region get back to sustainable, inclusive growth and convergence?
After a presentation by Mark Allen, we heard from the vice-presidents Philippe Le Houérou, EBRD, Wilhelm Molterer, EIB, and Laura Tuck, World Bank. This was followed comments by Rumen Dobrinsky and Michael Landesmann and finally a frank Q&A with the audience chaired by André Sapir.
- Chair: André Sapir, senior research fellow, Bruegel
- Mark Allen, adviser on CESEE matters, European Investment Bank
- Rumen Dobrinsky, senior research associate, Vienna Institute for International Economic Studies
- Michael Landesmann, director of research, Vienna Institute for International Economic Studies
- Philippe Le Houérou, vice-president for policy and partnerships, European Bank for Reconstruction and Development
- Wilhelm Molterer, vice-president for cohesion, European Investment Bank
- Laura Tuck, vice-president for the Europe and Central Asia region, World Bank
- The final JIAP evaluation report
- The presentation by Mark Allen _
- The presentation by Michael Landesmann _
- The Bruegel event notes _
- Venue: Bruegel, Rue de la Charité 33, 1210 Bruxelles
- Date: 2 June 2015
- Time: 09.30 – 11.30 (coffee will be served from 09.15)
- Contact: Bryn Watkins, events assistant, Bruegel