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InvestEU: EBRD and European Commission sign €60 million agreement

By EBRD  Press Office

European Union flags in front of the Berlaymont building (European commission) in Brussels, Belgium.

  • EBRD and European Commission sign a €60 million InvestEU contribution agreement
  • New advisory support for infrastructure, digitalisation and innovative investment projects
  • Funds to boost innovative businesses and create new employment opportunities in EU countries where the EBRD operates

Under the InvestEU programme, the European Bank for Reconstruction and Development (EBRD) and the European Commission have today signed an agreement for up to €60 million in advisory support for infrastructure, digitalisation and innovative investment projects in European Union (EU) countries where the EBRD operates. This agreement for the InvestEU Advisory Hub follows an earlier guarantee agreement signed with the EBRD for the InvestEU Fund, which aims to mobilise €2.1 billion for sustainable infrastructure, the green economy and digitalisation.

Under the InvestEU Advisory Hub, the EBRD will provide project advisory support, capacity building support and market development to project promoters and financial intermediaries in the EU. The total support for the provision of advisory services under this agreement will amount to €60.2 million.

Of this sum, €38.7 million comes from the EU compartment through the InvestEU Advisory Hub budget which covers several advisory initiatives that will be available in all EU Member States in which the EBRD is active. The rest is covered by two Member State compartments that are dedicated to Romania (€11 million) and Greece (€10.5 million). These are funded from the countries’ Recovery and Resilience Facility resources and will support them in implementing their recovery and resilience plans, by helping to improve competitiveness as well as climate and environmental projects in the two countries.

The advisory support provided by the EBRD will contribute to the development of quality investment projects under InvestEU’s four main policy windows. The EBRD will provide advisory support for sustainable and social infrastructure, skills and employment projects, innovation and small businesses, and investments in green and innovative technologies. Lastly, it will assist the development of projects designed to help people fleeing Ukraine as a consequence of Russia’s war of aggression.                 

EBRD President Odile Renaud-Basso said: “I am very pleased that we cooperate with the European Commission as a partner of InvestEU. Our common work will further boost innovative businesses and create new employment opportunities in the EU countries where we invest. This, in turn, will support our goal of building resilient, competitive and green economies that are ready for the future.”

Executive Vice-President for an Economy that Works for People, Valdis Dombrovskis, said: “This agreement will drive forward the EU’s agenda of promoting quality investment projects that reflect our common priorities, particularly for the green and digital transitions as well as for innovation and research. It taps into the EBRD’s expertise and experience in providing technical and advisory support, and directing investment to where it is most needed. I hope that those EU countries where the EBRD is active will draw the fullest benefit from this agreement, including in carrying out the much-needed reforms and investments set out in their national recovery plans.”

Commissioner for the Economy, Paolo Gentiloni, said: “The EBRD has a long history of channelling investment to regions where it is most needed. That is why I am delighted that they are an InvestEU implementing partner. With this agreement, we further enhance our cooperation so that InvestEU projects can benefit from the EBRD’s expertise and experience. This will help to ensure that these important investment projects realise their full potential.”

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