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 €100 million in donor funds.
Norway and the EBRD: at a glance
€100mn donor funds supporting EBRD operations
1.25% capital share
€2.05bn Norway-EBRD investments
Norway, through the Ministry of Foreign Affairs, provides 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.
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 around €2.1 billion as of end December 2018. EBRD finance accounted for €1.2 billion, and Norwegian investment accounted for €901 million.
The joint investment has been specially strong in Poland, regionally, and followed by Georgia and Egypt. Broken down by industry, the investment has been in energy, inndustry, commerce and agribusiness, and 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 export and import transactions of Norwegian banks. Over 800 foreign confirming banks and bank branches participate in the TFP, four are Norwegian.
In 2018, consultants from Norway won one consultancy contract totalling over €13,000.