More than €9.5 billion invested over seven years
Record investments in Egypt, support for the diversification of energy supplies in Jordan and a green financing facility in Lebanon are just three examples of the EBRD’s successful work in the southern and eastern Mediterranean (SEMED) region in 2018.
In only seven years, we have invested more than €9.5 billion in almost 220 projects in the six economies of the region.
And there is more to come. #EBRDmore.
The EBRD is stepping up its investments and engagement in response to strong market demand for what the Bank can offer.
This includes bespoke financial products -- ranging from long-term equity investment to specific microfinance solutions -- as well as policy dialogue to create the strong institutions needed for successful long-term growth.
And we are closely aligning our activities with the 2030 Sustainable Development Goals with a focus on renewable energy and economic inclusion, where the EBRD is a pioneer in its regions.
Only economies that benefit their people are successful economies. The EBRD is making a vital contribution to this effort, and here’s how.
- Up to six million people living in the Kitchener Drain area, one of the most polluted in the Nile Delta region in Egypt, will experience significant improvements in environmental health thanks to a joint €168 million financial package from the EBRD and the European Union (EU). In 2018, total EBRD investments in Egypt rose to a record €1.15 billion.
- We enhanced the quality and range of medical diagnostic services provided to the Palestinian population by providing a US$ 2.5 loan million to MedLabs Consultancy Group.
- Strengthening sustainable energy in Lebanon and addressing critical issues for Lebanon’s sustainable development, we have subscribed to a bond issued by Fransabank for US$ 15 million and we teamed up with Bank Audi to finance green projects under the EBRD’s Green Economy Financing Facility (GEFF) for the country.
The EBRD is and will remain a relevant partner: financially strong, agile in our operations and flexible in our approach.
The economic future of countries in the SEMED region depends on building a stronger private sector that can create jobs and opportunities. We are focusing on more inclusive and greener growth, which will lead to more opportunities for women and a greater emphasis on green technology.
- Supporting green investments, we provided a US$ 265 million loan to Jordan’s National Electric Power Company, NEPCO to help improve the integration of renewables into the national power network and to promote corporate reforms.
- We launched our successful EU-funded Women in Business programme in Morocco. This integrated programme aims to promote women’s participation in business by helping them access finance and gain the skills, knowledge and resources they need.
- Backing regional integration and a greener railway transport system, a €160 million EBRD loan is helping to upgrade and renovate two key rail routes in Tunisia. This project will lead to energy savings and a reduction of carbon emissions of 14,000 tonnes each year.
- We have provided advisory services to 2,952 small and medium enterprises across the SEMED region in only seven years.
The EBRD has the means, the expertise and the commitment to move forward in all our existing regions. And our donors play a major role in the delivery of the Bank’s investment, technical assistance and advisory services, with essential grant and concessional funding.
We are as diverse as our countries and as committed as its people: we are doing more to achieve more. #EBRDMore for more growth, more jobs, more prosperity.
Janet Heckman is EBRD Managing Director for eastern and southern Mediterranean region and as such oversees the Bank’s work in six economies.