EBRD make Record First-Half Year Investments

OVER the first six months of 2011 the European Bank for Reconstruction Development (EBRD) financed a record 161 projects, the highest number of first half projects in its history.

As we often report on EBRD investments on these pages, there is plenty of funding to improve energy efficiency across Europe. Within the record figures reported energy efficiency and climate change-related investments reached €1.2 billion, an almost 50 per cent increase over the same period in 2010.

"The crisis is not over,” says EBRD First Vice President Varel Freeman. “The private sector has significant unmatched demand for finance....We are committed to supporting our region during this period."

The Bank continued to place a particularly high priority on its investments in the Western Balkans and its early transition countries, primarily the least advanced countries in the Caucasus and Central Asia.

In the Western Balkans, the Bank financed 23 projects, up by more than one-third compared with the first half of 2010. In the early transition countries, the Bank invested in 51 projects, an increase of five compared with the same period in 2010.

Freeman added that EBRD continues to face strong demand from its private sector clients, and is likely to finish the year with a total business volume approaching €9 billion.

Picture of Split, by LenDog64

Wednesday 13th July 2011

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