By Bamidele Famoofo
*.New funds to boost digital and climate projects
*€150 million top-up for two EBRD programmes supported by the EU
WorldStage— The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their support for the green transition across the Western Balkans, and digital development across the regions outside the EU where the EBRD operates.
A top-up of €150 million in the European Fund for Sustainable Development Plus (EFSD+) guarantees from the EU under its Global Gateway initiative will expand two successful programmes already implemented by the EBRD. First, €100 million will boost investments in digital infrastructure and services in the Western Balkans, Türkiye, Central Asia, Mongolia, Iraq, the southern Mediterranean as well as eastern Europe and the south Caucasus. Second, €50 million will support climate resilience in the Western Balkans through projects with a green component in the industrial, buildings, municipal and sustainable logistics sectors and, for the first time, agribusiness.
The new funds will help to meet the growing demand for finance in the digital sector and for climate-resilient and green industrial development, sustainable municipal infrastructure, efficient logistics and interconnectivity. Both components are critical enablers for competitiveness, innovation and inclusive growth.
“Building a modern, reliable digital infrastructure and providing green finance are two of our top priorities at the Bank,” said Mark Bowman, EBRD Vice President, Policy and Partnerships. “We are delighted to further deepen our strong cooperation with the European Union as our key partner and donor across our three continents, with investments that will benefit local citizens and businesses every day in so many different ways.”
Dubravka Šuica, EU Commissioner for the Mediterranean, said: “By deepening our cooperation with international financial institutions such as the EBRD, we are mobilising the investment power needed to deliver long-term impact. Thanks to this close cooperation, we are securing increased guarantees and funding for the implementation of our projects in the Mediterranean region, particularly in the fields of infrastructure and digital services.”
Marta Kos, European Commissioner for Enlargement, commented: “We face outside powers trying to weaken Europe, and voices in candidate countries claiming EU membership is a dead end. That’s why we must speak to citizens of our neighbourhood faster and more directly. And back words with action. Today we are putting new money to help our neighbours build better digital services for their citizens and projects that protect and preserve the environment.”
The EBRD has been partnering with the EU on these two existing EFSD+ guarantee programmes since 2020. The guarantees have already supported high impact investments and unlocked funding from the private sector for a wide variety of partners and businesses, such as crucial energy suppliers in Ukraine, resource-efficient production processes in North Africa, expanding digital access to rural areas in several countries and many more.
