What's inside EBRD's €14.5B project pipeline?

The European Bank for Reconstruction and Development invests in projects around the world, mainly in low- and middle-income countries. Last year it added 321 projects worth a total of €14.5 billion to its published portfolio in 2022. This is an increase compared to the projects published in 2021 worth €10.8 billion. The bank’s 2022 portfolio includes multiple projects in different stages within the bank’s project cycle: • €4.4 billion on 147 projects in the disbursement stage. • €3.9 billion on 52 projects in the approved stage. • €4.6 billion on 97 projects in the signed stage. • €1.6 billion on 25 forecasted projects. Figures in this article have been converted using the exchange rates of the project’s latest approval date. Projects that have been declared as canceled or complete during the year have been omitted from the analysis. EBRD often invests in projects alongside other institutions. For each project, EBRD gives figures for its own contribution and for the total amount invested in the project. This Devex analysis will focus only on EBRD's contributions. Two projects have been omitted from the list for lacking the necessary data for this analysis: • FIF - WB&G WiB Cairo Amman Bank. • FIF - Cairo Amman Bank SME Loan WB&G. In this article, we look at where EBRD decided to put its money in 2022. Geographical focus In the bank's 2022 list, €8 billion of the investments are primarily channeled through the private sector. The bank’s investments come in multiple forms such as loans, equity investments, and guarantees. EBRD’s primary regional focus is Eastern Europe with a €7.2 billion allocation. This is followed by projects classified as regional, which encompasses all of EBRD’s regional coverage, with €3.8 billion. Central Asia follows with €2 billion; North Africa and Middle East with €1.2 billion; East Asia and Pacific with €178.8 million; and finally, Western Europe with €167 million. At a country level, EBRD’s top recipient country is Serbia with 28 projects approved or disbursed with €1.6 billion. This is followed by Turkey with €1.1 billion; Poland with €805.4 million; Kazakhstan with €748.8 million; and Uzbekistan with €695.2 million. Sectoral focus EBRD published investments in 10 main sectors in 2022: • Financial institutions. • Energy. • Transport. • Agribusiness. • Manufacturing and services. • Municipal and environmental infrastructure. • Natural resources. • Equity funds. • Telecommunications, media, and technology. • Property and tourism. Two investments in pipe plants were also listed under “ferrous fabricated metal product manufacturing.” Financial institution-related projects remain the bank’s top priority — with €5.2 billion allocated to 149 projects overall. EBRD’s financial institution sector primarily focuses on supporting the financial sector's recovery by investing in banks. Energy projects come in second, with €2.7 billion allocated. EBRD invests in energy projects that are climate-friendly, sustainable, and affordable. The biggest project in this sector is worth €300 million and aims to assist in maintaining the national electricity sector in Serbia. The transportation sector got €1.8 billion. The projects in this sector are chosen based on safety, sustainability, and green transport systems. The projects have to balance the economic, environmental, and social needs of the population. The biggest project under this heading is a €2.4 billion project to support the development of the railway sector in Serbia. The agribusiness sector received €1.1 billion with 21 projects. EBRD’s inclusion in agribusiness covers the whole cycle starting from farming up to distribution and retail. The biggest project under this heading is an €850 million project to assist in the expansion of Kaufland and Lidl stores in Romania and the western Balkans. Manufacturing and services received €855.8 million. Projects within this sector include support for privatization and the development of local supply chains. The largest project under this heading is a €100 million project to support direct green investments in multiple countries under the bank’s scope. The remaining €2.8 billion is allocated to the other priority sectors of the bank. Top 10 projects This is a list of the top projects in the pipeline. The projects listed below have varying statuses in accordance with the bank’s project cycle. • €2 billion to help sustain the provision of services and safeguard business activities in Ukraine and nearby countries affected by the inflow of Ukrainian refugees. • €500 million to support the development of rail infrastructure in Serbia. • €300 million to address an emergency liquidity gap in Serbia. • €300 million to secure energy supply to people and businesses throughout Ukraine. • €300 million to strengthen energy security in Moldova. • €263.4 million to modernize a power plant in Kazakhstan. • €250 million to support the development and commercialization of innovative technologies. • €220 million for constructing a highway section in Bosnia and Herzegovina. • €200 million to provide financing to investment vehicles mainly for early and growth-stage venture capital investment. Try out Devex Pro Funding today with a free five-day trial, and explore funding opportunities from over 850 sources in addition to our analysis and news content.