The EBRD manages regional and thematic multi-donor funds, where grant resources are pooled to foster efficiency and create higher impact. The most active funds include:
EBRD Early Transition Countries Fund
The Early Transition Countries Fund was launched in 2004 and is a flagship multi-donor vehicle with 14 contributors: Canada, Finland, Germany, Ireland, Japan, Korea, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China and the United Kingdom. The Fund has been channelling substantial financial support to the early transition countries (Armenia, Azerbaijan, Belarus, Georgia, Kyrgyz Republic, Moldova, Mongolia, Tajikistan, Turkmenistan and Uzbekistan) . It has played a critical role in enabling the Bank to support innovation for example, by establishing investment councils, introducing stakeholder programmes in municipal and environmental infrastructure projects and advancing gender equality. The Fund has also allowed to increase financing for small and medium enterprises under direct financing facilities and advance local currency lending.
Eastern Europe Energy Efficiency and Environment Partnership (E5P)
The E5P was established in 2010 to facilitate investments in energy efficiency and environmental projects aiming at reducing greenhouse gas emissions and envrionmental protection in the Eastern Partnership countries. The Fund has been operating in Ukraine since 2010 and expanded to Armenia, Georgia and Moldova in 2014, and to Belarus in 2017. The contributors to this Fund are: the European Union (the largest contributor) Armenia, Belarus, Czech Republic, Denmark, Estonia, Finland, Georgia, Germany, Iceland, Ireland, Latvia, Lithuania, Moldova, Norway, Poland, Romania, Slovak Republic, Sweden, Switzerland, Taipei China, Ukraine and the United States of America. The Fund co-finances district heating and public buildings projects together with local transport, solid waste and street lighting investments. The E5P resources are close to EUR 200 million. The EBRD acts as the fund manager on behalf of contributors and other IFIs.
European Western Balkans Joint Fund
The European Western Balkans Joint Fund, managed by the EBRD and the EIB, is a multi-donor fund under the Western Balkans Investment Framework, established in 2009. The Framework is a joint initiative of the European Union, the European Investment Bank, the Council of Europe Development Bank, Kreditanstalt fur Wiederaufbau, the World Bank, bilateral donors and the Western Balkans beneficiaries. It pools grant resources in order to leverage loans for the financing of priority infrastructure and socio-economic development in the Western Balkans. It provides technical assistance, co-investment grants across the energy, environment, transport and social sectors as well as private sector development.
Northern Dimension Environmental Partnership Fund
The Northern Dimension Environmental Partnership Fund became operational in 2002. The Fund pools financial contributions of over EUR340 million from the European Union, Belarus, Belgium, Canada, Denmark, Finland, France, Germany, Netherlands, Norway, Russia, Sweden, and the United Kingdom to leverage urgent environmental investments in Russia and Belarus. The operations are split into two windows of activities: nuclear safety and environmental investments. Nuclear safety projects are fully grant funded and focus on spent nuclear fuel and radioactive waste deposited in the north-west of Russia. The environmental investments combine NDEP grants and IFI loans for mainly wastewater treatment to improve the ecological status of the Baltic and Barents Seas. In particular in St Petersburg, the Fund grants have helped the City to achieve full compliance with HELCOM standards for phosphorous and nitrogen treatment. NDEP has been operational in northern Belarus since 2010 focusing on wastewater treatment benefiting the Baltic Sea and surrounding countries. EBRD acts as the fund manager of NDEP.
EBRD Small Business Impact Fund
In 2015, the Bank established the Small Business Impact Fund to support the Small Business Initiative with a more streamlined and effective architecture for donor funds. The Small Business Impact Fund is bringing together donor funds and directing them to financing, advisory and policy dialogue activities to support small and medium-sized enterprises in EBRD’s countries of operation. The donors contributing are: Italy, Japan, Korea, Luxembourg, Sweden, Switzerland, Taipei China and the USA.
EBRD Southern and Eastern Mediterranean Multi-Donor Account
The Southern and Eastern Mediterranean (SEMED) Multi-Donor Account was set up in 2012 to support the EBRD engagement in Egypt, Jordan, Morocco and Tunisia. The Account finances activities in priority sectors. Its contributors are Australia, Finland, France, Germany, Italy, the Netherlands, Norway, Sweden, Taipei China and the United Kingdom. The Multi Donor Account played a key role in initial operations in the SEMED countries.
EBRD Ukraine Stabilisation and Sustainable Growth Multi-Donor Account
The EBRD established this MDA in 2014 to support Ukraine’s efforts to reform its economy, improve its business climate and restore sustainable growth. The Multi Donor Account enables the Bank to provide support for policy reforms that are urgently needed to stabilise the economy, and paves the way for EBRD investments in the country. The MDA has five thematic pillars – Investment Climate, Banking, Infrastructure, Energy, and Corporate. Among its flagship projects are the Business Ombudsman, Ukraine Reforms Architecture, and ProZorro Public e-Procurement. Contributors to the MDA are:
Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Norway, Poland, Sweden, Switzerland, the United Kingdom, the United States and the European Union, the largest donor.
With the EBRD’s support, local civil society organisation Agricultural Advisory Services has helped the social enterprise Cooperative Learning Farm, which runs Molocharse as a regular farm and a training centre for junior vets.