The EBRD continued to set new investment records during the first half of 2011, responding to the strong demand for financing across the 29-country region where it is active.

The Bank concluded 161 projects in the first six months, the highest number of projects in any first half in the EBRD’s 20 year history.

In volume terms, the EBRD invested €3.5 billion, also a new record and a reflection of the continuing thirst for sustainable finance as the region embarks on the path to economic recovery.

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

The EBRD funding was well balanced across the various economic sectors and targeted those geographic areas where the financing is most severely needed.

The EBRD’s investment activities amounted to approximately €1 billion each in the areas of industry, commerce and agribusiness; financial institutions; and power, energy and natural resources. It invested approximately €600 million in transport and municipal infrastructure. 

Energy efficiency and climate change-related investments reached €1.2 billion, an almost 50 per cent increase over the same period in 2010.

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.

Mr 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.

 “The EBRD is committed to supporting the transition to market economy in its existing Countries of Operations stretching from Central Europe and the Western Balkans to Central Asia.  This support will not diminish as our shareholders consider the expansion of our activities to the Southern and Eastern Mediterranean area,” he said.