By Nibal Zgheib
22 Jul 2016
The private sector can be an important driver for growth and rising prosperity in the Middle East and North Africa (MENA) if effective policies are put in place to address key challenges across the region, according to “What’s holding back the private sector in MENA?”, a joint report from European Bank for Reconstruction and Development, the European Investment Bank and the World Bank.
So how is the EBRD helping to tackle constraints and challenges facing the private sector in its southern and eastern Mediterranean region?
Since starting work here in 2012, the EBRD has assumed an important role in a region that faces many pressing issues. The Bank has focused on fostering the development of the private sector, the modernisation of the financial system, the establishment of reliable energy supplies, the development of sustainable sources of energy and the enhancement of the agribusiness value chain. Investments have also been channelled to infrastructure and municipal services.
BACK TO TOPAccounting for nine out of ten jobs in the region, the private sector should be the backbone of a flourishing economy, driving growth and prosperity.
BACK TO TOPAccess to finance remains a key concern for SMEs and resolving this issue is vital for economies across the region. The EBRD provides direct financing, dedicated credit lines through local banks and tailored advisory services.
BACK TO TOPUpgrading the local economies and strengthening their competitiveness is the key to addressing unemployment, one of the region’s biggest challenges, particularly among women, the young and educated people.
BACK TO TOPOvercoming skill mismatches is essential to tackling unemployment, especially among young people. The EBRD has developed projects to create access to skills and jobs for young people, women and people in less advanced parts of the region.
BACK TO TOPThe EBRD’s Women in Business programme aims at strengthening the role of female entrepreneurs, providing a comprehensive package of financial and technical support to women who are either starting up or expanding their own companies.
BACK TO TOPThe EBRD's Trade Facilitation Programme (TFP) promotes foreign trade to, from and within the Bank’s countries of operations, helping companies to engage more widely in international trade.
BACK TO TOPSupporting the agribusiness sector is a major part of the EBRD’s strategy as it plays an important role along the food value chain and in sustaining economic growth.
BACK TO TOPMany parts of the region have no reliable energy supply. Providing one is essential for sustainable economic growth and improving the living conditions of the population.
BACK TO TOPSupporting energy efficiency and renewable energy are among the EBRD’s key priorities. The region can harness the solar and wind power with which it is so abundantly blessed to provide its citizens and companies with a sustainable source of electricity they need in their daily lives
BACK TO TOPDeveloping and improving public transport services has a large and positive impact on people’s lives and their businesses, and consequently on the economy.
BACK TO TOPBy June 2016, the EBRD had invested more than €3.6 billion in 94 projects in the region.
BACK TO TOP
