EBRD donors continue strong support with over €340 million

By EBRD  Press Office
@ebrd

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EBRD donors continue strong support with over €340 million

The EBRD donor community has reiterated its commitment to the Bank’s work. Total donor contributions in 2014 amounted to over €340.6 million, close to the record €349 million registered in 2013. According to the new EBRD Donor Report, published today, the European Union is the largest single donor with over €104 million of contributions.
 
Climate change funds, mainly from the Climate Investment Funds and the Global Environment Facility, totalled almost €123 million, while bilateral donors provided another €113 million. The EBRD donor community, which includes over 40 bilateral and multilateral donors, supports one-third of the EBRD’s investments by number.
 
Grant funds provided by donors are used to support EBRD activities across all sectors, with a particular emphasis on addressing energy efficiency and climate change, supporting small business development and modernising infrastructure in transition countries.
 
Donor contributions play a vital role in addressing transition challenges by providing grant co-financing and deploying technical cooperation funds ‑ for example: to enhance the skills of local bankers and commercial lawyers; to invest in basic infrastructure; and to develop risk-sharing financial instruments that help banks lend money to riskier client segments. Donor support is also instrumental in re-energising the transition process in the EBRD region through targeted policy and legal reforms.
 
Addressing the donors at the Annual Donor Meeting in Tbilisi, EBRD President Sir Suma Chakrabarti said: “Grants are a very important part of the Bank’s work, across all sectors and countries of operations. But their importance goes way beyond financial support and our donor community also helps to shape our agenda and identify policy goals.”
 
In 2014, EBRD donors continued to support both established programmes, such as the Early Transition Countries (ETC) Initiative, and new activities – such as the Small Business Initiative, the Infrastructure Project Preparation Facility and the Investment Climate and Governance Initiative.
 
Donors have also been strongly involved in the EBRD Sustainable Energy Initiative and the southern and eastern Mediterranean (SEMED) region, where in 2014 investment generated by the EBRD reached milestone figures of €15 billion and €1.5 billion, respectively. In addition, in response to a volatile political and security environment in Ukraine, donors set up a new multi-donor account in support of reforms and sustainable growth in the country.
 
The EBRD continues to reform its donor-related management processes to ensure that grants have the greatest impact on beneficiaries and reflect donors' development priorities.
 
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