European Bank for Reconstruction and Development reports record 2020 investment in response to Covid-19
January 19, 2021
The European Bank for Reconstruction and Development (EBRD) responded to the coronavirus pandemic with record investment of €11 billion in 2020 through 411 projects, addressing the urgent needs of the 38 economies where it invests. This represents a 10% increase in annual business investment relative to 2019, when the Bank provided €10.1 billion to finance 452 projects.
The EBRD stepped up its investment to address immediate needs and to create the foundations for recovery, with a focus on building back better economies in the future. As the pandemic is exacerbating inequalities, especially for women, young people and other groups, the Bank reinforced its efforts with regard to gender and economic inclusion. This work resulted in a 24% increase in inclusion projects, with a total investment volume of €4 billion, and a record number of gender activities.
The coronavirus pandemic hit the EBRD’s southern and eastern Mediterranean (SEMED) region hard. The Bank stepped up its financing in Egypt with the provision of €784 million in liquidity lines to local banks for on-lending to businesses. In Morocco, Bank of Africa – BMCE Group became the first recipient under the Bank’s Resilience Framework in April, with a €145 million financing facility. The Bank also provided €150 million to support better water resource management and water conservation in the agricultural regions of Saiss and Garet.