The European Bank for Reconstruction and Development is aiming for record investments of over €10 billion in 2019
May 6, 2019
The European Bank for Reconstruction and Development (EBRD) is aiming for record high investments of over €10 billion in 2019 as shareholders gather for the Bank’s Annual Meeting this week in Sarajevo, Bosnia and Herzegovina. The Bank’s Board of Governors will be asked to approve the EBRD’s work programme to prepare the Bank’s strategy for the five years up to 2025 which will be formally signed off next year.
A key focus of the next strategy will be a reaffirmation of the EBRD’s commitment to its current countries of operations including how best to move toward a low carbon economy, build sustainable infrastructure; manage sustainable and smart cities; foster skills that meet the needs of private sector businesses; and leverage new technologies with all their transformative potential.
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 European Bank for Reconstruction and Development’s successful work in the southern and eastern Mediterranean (SEMED) region in 2018. In only seven years, EBRD have invested more than €9.5 billion in almost 220 projects in the six economies of the region. Initially, any expansion would focus on the southern and eastern Mediterranean region, where the Bank has been investing since 2012. Subject to the approval of shareholders, Libya, Algeria and Syria could become members and EBRD recipient countries, when conditions allow.