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Donor countries and organisations

Donors contribute to EBRD projects through bilateral and multilateral instruments. This funding supports small business growth, improved employment opportunities, better services, lower industrial energy usage, trade expansion or more efficient transport systems. Since 1991, 54 donors have provided around €3.5 billion in technical cooperation (TC) and investmentco-financing.

Donor countries and funds

Bilateral Donors

Multi-donor funds

Austria EBRD-managed
Belgium Eastern Europe Energy Efficiency and Environmental Partnership (E5P)
Canada Early Transition Countries Fund
Czech Republic EBRD Shareholder Special Fund (SSF)
Denmark EBRD Water Fund
Finland Nuclear safety funds
France Russia Small Business Fund
Germany Southern and eastern Mediterranean (SEMED) Multi-Donor Account
Ireland International institutions
Israel Central European Initiative (external link)
Italy European Commission (external link)
Japan World Bank (external link)
Luxembourg External Funds
Netherlands Investment Facility for Central Asia (IFCA)
Norway Climate Investment Funds (CIF)
Portugal EU Neighbourhood Investment Facility (NIF)
Singapore Global Environment Facility
Slovak Republic * Western Balkans Investment Framework (WBIF)
Slovenia *  
Spain Other EBRD-managed
Sweden EBRD-European Local Energy Assistance Facility (ELENA)
Taipei China  
United Kingdom  
United States  

* = EBRD Country of operations

EBRD managed multi-donor funds

Eastern Europe Energy Efficiency and Environment Partnership (E5P)

The Eastern Europe Energy Efficiency and Environment Partnership (E5P) is a multi donor fund managed by the EBRD to facilitate investments in energy efficiency and environmental projects aiming at reducing greenhouse gas emissions in the Easter Partnership countries with a start in Ukraine. After two years of successful operation in Ukraine, the Fund is currently working on the expansion to other Eastern Partnership countries (Armenia, Azerbaijan, Belarus, Georgia and Moldova) and during a pledging conference end of 2013 Armenia, Georgia and Moldova joined the E5P as both a contributor to its fund and as a recipient of its grants.

The E5P will implement investment projects in cooperation with other participating international financial institutions (IFIs) – the European Investment Bank (EIB), the International Finance Corporation (IFC), the Nordic Environment Finance Corporation (NEFCO), the Nordic Investment Bank (NIB) and the World Bank.

Pledges to the fund amount to €92 million for Ukraine and an additional €60 million for Armenia, Georgia and Moldova. In addition to the recipient countries, donors to the fund are:  the European Union (the largest contributor with €40 million), Czech Republic, Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, Norway, Poland, Romania, Slovakia, Sweden, Ukraine and the United States.

The E5P extends investment grants and technical assistance grants are also used, for example to support national regulatory reforms as the work of the National Commission for Tariff Regulation in Ukraine.

So far 11 projects, mostly for the rehabilitation of district heating facilities in major Ukrainian cities, have been approved by the E5P Assembly of Contributors to benefit from E5P grants totaling over €35 million. The IFI loans and corresponding E5P grant agreements have been signed for utility projects in Zhytomyr, Ternopil, Lviv and Mykolaiev but also for project with a demonstration effect as Energy Performance Contracting in Public buildings in Kiev and Energy Efficiency in public buildings in Zhytomyr focus on hospital, schools and nurseries. Other projects are under preparation.

It is estimated that the grant to Ukraine will facilitate investments in the Ukrainian municipal sector and yield investments of approximately €450, meaning a ratio of 1:5 between grant and investment.

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Early Transition Countries (ETC) Fund 

Coordinated technical cooperation (TC) and grant support for the early transition countries is mainly channelled through the multi-donor Early Transition Countries (ETC) Fund which, in 2010, also extended its assistance to Belarus and Turkmenistan.

Launched in 2004, the ETC Fund helps to mobilise donor funding for EBRD investments in Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Mongolia, Tajikistan and Uzbekistan. In 2010 the fund extended its assistance to Belarus and Turkmenistan.

Since its establishment the following bilateral donors have contributed to the ETC Fund: Canada, Finland, Germany, Ireland, Japan, Korea, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China and the United Kingdom. The Netherlands is the largest contributor to the Fund.

Since 2008 the ETC Fund’s contributions to projects have been matched by the EBRD Shareholder Special Fund. A total of €94 million in donor funds has been committed to date to 522 projects, 69 of which were implemented in 2011.

More on the Early Transition Countries Initiative
Early Transition Countries (ETC) Fund factsheet (687KB - PDF)

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EBRD Shareholder Special Fund

The EBRD Shareholder Special Fund (SSF) was established in 2008, endowed with the resources of the Bank's net income.

The SSF is recognised as a complementary facility to the donor funds, and provides funding for projects which do not fit the donors' priorities. It also provides flexibility, predictability, and additional funding for multi-donor funds where the SSF can provide co-financing.

As of December 2010, the Board of Governors had approved an allocation of €295 million to cover the period to 2013, for both TC and non-TC assignments.

The ETC region has benefited the most as well as the infrastructure sector, and climate change/environment and gender continue to be important areas of SSF support.

Shareholder Special Fund factsheet (269KB - PDF)

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EBRD Water Fund

The EBRD Water Fund, a multi-donor fund focusing on water projects in official development assistance (ODA) countries, was established in July 2010 with an initial focus on Central Asia.

The Water Fund operates following the United Nations Economic Commission for Europe (UNECE)/WHO Protocol on Water and Health, which allows increased international coordination for water and health assistance, and the EU Water Framework Directive for the protection of water.

Technical cooperation (TC) financed by the fund focuses on supporting governments in carrying out regulatory work and reforms related to the management, use and preservation of water resources, as well as activities related to the development and sustainable maintenance of safe water and sanitation facilities.

To date the Water Fund has approved almost €3.8 million for TC projects in Kazakhstan, the Kyrgyz Republic and Tajikistan which will help guarantee better water services to millions of citizens.

Municipal and environmental infrastructure - Water and wastewater factsheet (218KB - PDF)

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Nuclear safety funds

The EBRD manages six donor funds providing support to enhance nuclear safety. Some 30 donors, including the G-8 countries and the European Commission, have pledged more than €3 billion so far to funds that include:

  • the Nuclear Safety Account (NSA)
  • the Chernobyl Shelter Fund (CSF)
  • three international decommissioning support funds for Bulgaria, Lithuania and the Slovak Republic
  • the “Nuclear Window” of the Northern Dimension Environmental Partnership Support Fund (NDEP)

More on NDEP and EU’s Northern Dimension Initiative
Nuclear safety factsheet (333KB - PDF)

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Russia Small Business Fund

The Russian Small Business Fund (RSBF) was established in 1994 with the support of the G7 countries and Switzerland to provide financing to micro and small enterprises (MSEs) and to help strengthen the capacity of the Russian banking sector to lend to MSEs on a sustainable basis.

As of January 2012 US$9 billion were disbursed in 600,000 sub-loans to MSEs. More than 90 per cent of all RSBF sub-loans to MSE outstanding in regions outside Moscow and St. Petersburg, where the need for job creation and poverty alleviation is greatest.

RSBF technical cooperation programmes have been highly instrumental in strengthening the institutional capacities of RSBF partner banks in MSE lending, developing and launching new products as well as expanding the lending base and market outreach.

Donors that have supported the Fund with technical cooperation funds include the EU, the US, Japan, the UK, France, Germany, Italy, Canada and Switzerland.

More on the Russia Small Business Fund

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Southern and eastern Mediterranean (SEMED) Multi-Donor Account

The EBRD's activities in SEMED (566KB - PDF)

In 2011 the EBRD launched donor-funded activities in the southern and eastern Mediterranean (SEMED) region, in support of the countries which are undergoing important political and economic reforms. The Bank set out a three-phased programme to expand its operations to Egypt, Jordan, Morocco and Tunisia.

The first phase comprises the deployment of technical assistance funded from cooperation funds, allowing the Bank to identify and prepare investment projects, build capacities of prospective clients, and foster cooperation with multilateral development banks and donor agencies working in the region. The second phase will use Special Funds to implement early investment operations before the last phase launches full-scale activities for regional expansion.

The Bank has engaged with governments, business and civil society representatives in SEMED to develop its understanding of the needs in each country and establish operational priorities for technical cooperation (TC) activities.

The use of donor funds for TCs will lay the groundwork for forthcoming investments, once shareholders ratify amendments to EBRD statutes to allow the Bank to invest in the SEMED.

So far over €59 million in donor funds have been pledged or provided. Donors include the European Union, Australia, Finland, France, Italy, Germany, the Netherlands, Norway, Sweden and the United Kingdom. The EBRD also allocated €20 million from its net income.

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External Funds

Investment Facility for Central Asia (IFCA)

Launched by the EU in June 2010, the Investment Facility for Central Asia (IFCA) covers five countries: Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan. The Facility blends EU grant funding with loans by financial institutions to promote investments in infrastructure, energy, environment, small and medium sized enterprises (SME) and social infrastructure. The initial financial allocation to the IFCA is €65 million.

To date the IFCA Board has approved seven EBRD projects which are supporting investments across the region, aimed specifically at improving access to finance for micro, small and medium-sized enterprises (MSMEs), sustainable energy, municipal and environmental infrastructure and energy efficiency development. The Facility has provided crucial funding in excess of €50 million for technical cooperation, investment grants and risk sharing. The EBRD-IFCA projects are in Tajikistan (Sugd - Energy Loss Reduction Project and Central Tajik Water Rehabilitation), in Kazakhstan (Kazakhstan Sustainable Energy Financing Facility II), and Kyrgyz Republic (Kyrgyz Sustainable Energy Finance Facility), and on a regional basis through the Central Asian TC Framework, the SME Finance Facility and the Framework for Strengthening Municipal Infrastructure in Central Asia, with a focus on water projects.

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Climate Investment Funds (CIFs)

The CIFs are financing instruments designed to promote and sustain the transition to low-carbon and climate-resilient development with investments channelled through multilateral development banks (MDBs).

They include the Clean Technology Fund for climate mitigation actions in middle-income countries, and the Strategic Climate Funds for investments in adaptation measures, forestry and renewable energy sources in the least developed countries. The Bank has been involved in the development and implementation of CIFs since late 2007 and, in 2009, approved the establishment of the EBRD CIF Special Fund.

This Fund enables the Bank to access additional financing for mitigation and adaptation investments and to participate in the global strategy for climate change financing alongside the IFC and World Bank and other regional banks, namely the African Development Bank (AfDB), the Asian Development Bank (ADB) and the Inter-American Development Bank (IDB).

During 2009-10 the EBRD has participated in developing Investment Plans for the Clean Technology Fund in Kazakhstan, Turkey and Ukraine – a total resource envelope of US$ 358 million. The EBRD is also engaged in Tajikistan under the pro-adaptation Pilot Programme for Climate Resilience, supporting the government in developing a Strategic Programme for Climate Resilience (SPCR) – total CIF funds of US$ 50 million.

The EBRD and Climate Investment Funds factsheet (727KB - PDF)
External link to Climate Investment Funds

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EU Neighbourhood Investment Facility (NIF)

The NIF was established mid-2008 as part of the new European Neighbourhood Policy Instrument (ENPI). The Commission allocated €700 million for 2007-13, with broadly one-third being earmarked to the “east” region: Armenia, Azerbaijan, Georgia, Moldova, Ukraine (and Belarus), and the rest to southern Mediterranean countries, including the four EBRD potential countries of operation, Egypt, Tunisia, Morocco and Jordan.

A trust fund also allows EU Member States to make bilateral contributions. Sectors targeted are infrastructure, environment and the private sector, and co-financing with other IFIs (mainly EIB and KfW) is encouraged.

Since implementation of the Facility, the EBRD has benefited from over €150 million in grants, equally split between technical assistance and investment grants. The budget available in the coming years should amount to approximately €50 million per year (from both the EU budget and the Member State Trust Fund). In 2011, seven projects were signed, including our first agreements for the southern and eastern Mediterranean(SEMED) region, where funding was provided for the Small Business Support programme and for project preparation for EBRD operations in this new region.

Infrastructure projects benefited the most from EU funds, as many projects in this sector require investment grants, particularly in countries with International Monetary Fund (IMF) programmes which are subject to minimum concessionality requirements.

External link to the Neighbourhood Investment Facility (NIF)

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Global Environment Facility (GEF)

The Global Environmental Facility (GEF) was established in 1991 as a US$ 1 billion pilot programme at the World Bank to promote sustainable development and support the integration of global environmental objectives into local and regional projects.

GEF is now a partnership encompassing 178 countries, several international institutions, non-governmental organisations and the private sector. It provides grants for projects relating to biodiversity, climate change, international waters, land degradation, the ozone layer and persistent organic pollutants. The GEF also has two sub-funds: the Special Climate Change Fund (SCCF) and the Least Developed Country Fund.

Since 2004 the EBRD, as one of the GEF-implementing agencies, has been receiving TC and grant co-financing through GEF for international waters and climate change projects. Allocations through the GEF are awarded project by project. The EBRD is also developing its first project, using US$ 3 million of GEF co-financing through the SCCF for a climate change adaptation project in north Tajikistan. This is expected to be committed in 2011. Several GEF programmes are currently under development, with potential TC and non-TC grant financing of between €20 to €30 million in 2010-11.

The EBRD and the Global Environment Facility factsheet 
(341KB - PDF)
External link to the Global Environmental Facility (GEF)

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Western Balkans Investment Framework (WBIF)

Established in December 2009, the Western Balkans Investment Framework (WBIF) seeks to maximise the use of donor funding by coordinating IFI interventions in the Western Balkans.

The Framework has supported a total of 73 projects representing an overall investment of approximately €6 billion. The total grant contribution awarded under the Joint Grant Facility amounts to €139 million.

This Facility pools resources from the European Commission with those from the three partner IFIs (CEB, EBRD, EIB) and bilateral donors (Austria, Canada, Czech Republic, Denmark, Finland, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Slovak Republic, Slovenia, Spain, Sweden and the United Kingdom).

In terms of the EBRD’s portfolio, the infrastructure sector, including transport and MEI, has benefited the most in 2010, as the development of key trans-European road and rail corridor projects was given substantial donor-funded support.

Considerable progress was made in 2010 to further strengthen relationships between beneficiary governments. The EBRD is well prepared in 2011 to assist countries in their efforts to overcome the crisis and its consequences. A new call for projects is planned for the first quarter of 2011 with a decision at a June 2011 Steering Committee meeting. The Bank plans to actively expand the sector priorities to include private sector support in the post-crisis phase, and to assist viable companies which have been hit by the crisis.

External link to the Western Balkans Investment Framework (WBIF)

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Other EBRD-managed

EBRD-European Local Energy Assistance Facility (ELENA) Factsheet (3MB - PDF)

Through EBRD- European Local Energy Assistance Facility (ELENA), the Bank helps local and regional authorities to implement viable investment projects in the areas of energy efficiency, renewable energy and sustainable urban transport. Eligible countries in the EBRD region include Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia in addition to Croatia and FYR Macedonia.

The Facility can cover up to 90 per cent of the costs of technical cooperation necessary to prepare and implement sustainable energy investments in the municipal sector, including feasibility and market studies, identification and preparation of eligible projects (due diligence), business planning, energy audits, implementation and verification of projects, establishment of a project implementation units, preparation of tender documentation, launching of the tender process and training of staff.

EBRD-ELENA is funded by the European Union through the Intelligent Energy - Europe II (IEE II) programme. The Facility contributes to the EU “20-20-20” initiative, the objectives of which are to cut greenhouse gas emissions by 20 per cent, improve energy efficiency by the same percentage and increase use of renewables in the EU energy mix, also to 20 per cent.

External link to Intelligent Energy Europe programme

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Last updated 8 April 2014