- Southern and eastern Mediterranean the second-largest regional recipient of EBRD investment in 2022
- More than €2.4 billion invested in 50 projects across the region last year alone
- Record total Bank investment of €13.1 billion in 431 projects in 36 economies in 2022
The European Bank for Reconstruction and Development (EBRD) posted record investment of €2.4 billion in 50 projects in the southern and eastern Mediterranean (SEMED) region in 2022, supporting its investee economies in an extremely challenging global economic environment.
This follows cumulative investment of €1.5 billion in 2021 in Egypt, Jordan, Lebanon, Morocco, Tunisia and the West Bank and Gaza.
Seventy percent of the Bank’s 2022 investments in the SEMED region were in the private sector, while 42 percent were in the green economy. Half of all projects had a gender inclusion component.
In Egypt, the Bank invested more than €1.3 billion in 25 projects with a view to promoting a green and inclusive economy. Fifty-nine per cent of all investments were green and 62 percent had a gender and inclusion focus.
The Bank became Egypt’s lead partner on the NWFE energy pillar, which was announced during COP27 and has committed $1 billion of private renewable finance, $300 million in sovereign finance and grants of $3 million from its Shareholder Special Fund.
The initiative secured international political support from the United States of America and Germany, which pledged more than $250 million to support it. In addition, the initiative is planning to deploy more than $300 million in grant and concessional finance from the European Commission, France, the Netherlands, Denmark and the United Kingdom, as well as donors to the EBRD’s High Impact Partnership on Climate Action (Austria, Finland, the Netherlands, Spain, Switzerland, the Taiwan ICDF and the United Kingdom).