Norway is a founding member of the EBRD and a strong strategic partner of the Bank, often at the forefront of new initiatives.
It was the first donor to establish a technical cooperation (TC) fund with the EBRD in 1991 and has since contributed over €76 million in donor funds.
Norway and the EBRD: at a glance
€76mn donor funds supporting EBRD operations
1.25% capital share
€2.05bn Norway-EBRD investments
Norway, through the Ministry of Foreign Affairs, provides untied funds, both bilaterally via the ‘New Norway Cooperation Fund’ which primarily finances environmental, energy and financial sector projects in the Western Balkans, as well as via a number of multi-donor funds including the EBRD Water Fund, the Early Transition Countries (ETC) Fund, the European Western Balkans Joint Fund (EWBJF), the Eastern Europe Energy Efficiency and Environment Partnership (E5P), the Northern Dimension Environmental Partnership (NDEP) Support Fund as well as the southern and eastern Mediterranean (SEMED) Multi-Donor Account.
In 2017, Norway is stepping up its engagement with the activities of the Ukraine Stabilisation and Sustainable Growth Multi-Donor Account which supports the design and implementation of policy reforms and institutional capacity building as well as investment support urgently needed in the Ukraine.
Norway is an important source of foreign direct investment in the EBRD’s countries of operations. The value of joint Norway-EBRD investment stood at €2.06 billion as of January 2017. EBRD finance accounted for €1.22 billion of this total and Norwegian investment accounted for €0.83 billion.
Norway-EBRD investment has been especially strong in Poland with 42 per cent of joint investments, regionally with 35 per cent and in Georgia with 23 per cent. Broken down by sector, 59 per cent of joint Norway-EBRD investment has been in energy, 29 per cent in industry, commerce and agribusiness and12 per cent in infrastructure.
Norwegian banks are also involved in the Trade Facilitation Programme (TFP), through which the EBRD guarantees the payment of trade finance instruments issued by banks in its countries of operations to foreign confirming banks. Through the Programme, the EBRD has supported 39 export and import transactions of Norwegian banks totalling €11.2 million. Over 800 foreign confirming banks and bank branches participate in the TFP, four of which are Norwegian.