EBRD Finland´s transition fund

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.

European Bank for Reconstruction and Development, EBRD, extended its activities in 2012 to the Southern and Eastern Mediterranean (SEMED) region. In addition to the investments the Bank offers technical support to the countries' transition. To channel the technical support the Bank established an untied joint fund the SEMED MDA (Multi donor Account). The Bank has over 20 years of experience in supporting the transition countries. EBRD's SEMED MDA finances projects for the technical support of the investments. The fund has financed so far 68 technical support projects to enhance the development of small and medium sized enterprises and the agricultural and energy sectors. Results cover for example: 97 MSEMs supported, out of which 17 % owned or managed by women, endusers of infrastructure investments are 3,54 million people, Investments in infrastructure supported by MDA total worth of 303 million euros, sub-loans worth 47,5 meur made by assisted partner financial institutions to 58 companies. Risk management is taken into account in banks actions as well as regarding the target companies EBRD's SEMED fund finances projects in Egypt, Tunisia, Morocco and Jordan, which all are ODA eligible countries. Egypt and Morocco belong to the lower middle income country classification of the OECD/DAC and Tunisia and Jordan belong to the upper middle income class, but these last two are in the lower end of the scale.