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Who we are
Overview: about the EBRDWho we are
Overview: about the EBRD
Our story
Explore the EBRD’s journey over the decades, investing in businesses, supporting economies and driving lasting change across its regions.
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Overview: how the EBRD operatesWhat we do
Overview: how the EBRD operates
How we deliver systemic impact
Across three continents, the EBRD supports the transition to successful market economies.
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Overview: how you can work with the EBRD
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Light
Eng
Eng
EBRD's Trade Facilitation Programme
May 2021
Background
The Trade Facilitation Programme (TFP) aim to promote foreign trade to, from and within the EBRD regions by providing guarantees and traderelated cash advances. In 2020, the TFP supported the financing of foreign trade totalling more than €3.3 billion. TFP projects are broadly managed through a standalone framework, with decisions taken under delegated authority. The Audit Committee of the EBRD requested an independent evaluation of the Trade Facilitation Programme to inform the Board’s decision on the proposed renewal of the TFP in 2021. The evaluation focused on the strategic fit of the TFP with the revised Transition Qualities framework, changes in the composition of the TFP portfolio, and results and performance issues.
Main findings
EvD’s evaluation identified the following set of findings:
The objectives of the TFP lack clarity, with multiple objectives presented in multiple documents. Some objectives do not have clearly defined operational indicators to assess performance. There is also no TFP Theory of Change, which contributes to a weak conceptual relationship between outputs and outcomes.
The main TFP target is Annual Business Investment (ABI). Addressing that target does not necessarily lead to additionality, transition impact, or bankability. There is little evidence of TFP financial additionality, and some cause to suggest that TFP prices undercut commercial rates, crowding out private sector providers.
The TFP has not been responsive to the EBRD’s strategic initiatives. 40% of TFP trade derives from high-emission sectors, and the portfolio composition has shifted away from Early Transition Countries (ETCs).
The governance arrangements for the pricing of TFP products are not robust, with some risk that EBRD financing is leading to low profitability and crowding out of the private sector.