EBRD's ETC Initiative and Multi-Donor Cooperation

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

EBRD founded the multilateral Early Transition Countries Fund (ETCF) in 2004 for the poorest countries in the Union of Independent States, Armenia, Azerbaijan, Belarus, Georgia, Kyrgyz Republic, Moldova, Tajikistan, Turkmenistan and Uzbekistan, as well as Mongolia. The main priorities of the fund are 1) Access to improved essential services in water, waste water, solid waste and district heating; 2) Poverty alleviation through increased access to sustainable private-sector employment, 3) Equality through narrowing economic inclusion gaps and 4) Innovation to foster improvement in the quality of life of citizens. Primary beneficiaries are governments, officials and enterprises. Since the founding of the ETC fund investments to the region have multiplied. ETC fund has supported projects that develop private sector, water and solid waste management as well as public transport. Finland has supported the fund in 2004-2014 with 4 million euros and has been active in the fund. According to the mid-term evaluation of Wider Europe Initiative phase I in 2012, the fund has achieved tangible results and allows for Finland funding of activities that have outreach far beyond that which would be possible to achieve through bilateral efforts. Finland's additional funding to the fund will be 0,3 million euros for 2016.