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Since 1991, invested almost € 50 billion in 3,000 projects Private sector > 77% of portfolio

The European Bank for Reconstruction and Development: Regional Leader in its Countries of Operations. Founded in 1991 after the disintegration of the Soviet Union, EBRD’s region of operations cover most countries in Eastern Europe, Central Asia and, since 2008, Turkey.

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Since 1991, invested almost € 50 billion in 3,000 projects Private sector > 77% of portfolio

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  1. The European Bank for Reconstruction and Development:Regional Leader in its Countries of Operations Founded in 1991 after the disintegration of the Soviet Union, EBRD’s region of operations cover most countries in Eastern Europe, Central Asia and, since 2008, Turkey

  2. The European Bank for Reconstruction and Development:Investments in the Times of Crisis As an Multilateral Development Bank, EBRD brings in additional financial capital and technical assistance (TA) to economically viable sustainable development projects • Since 1991, invested almost € 50 billion in 3,000 projects • Private sector > 77% of portfolio • Debt 80%, Equity 20% of portfolio • € 8 billion invested in 2009 • Portfolio expansion for 2010 • 50% capital Increase in 2010 Cumulative Business Volume (billion €) Annual Business Volume (ABV, billion €)

  3. Financing Facilities through partner financial institutions – individual clients, small size projects and SMEs; up to $ 5 million loans ($ 20 million project value) Direct Lending Facilities – limited recourse, mid-sized projects, flexible approval procedure; up to $ 15 million investments ($ 50 million project value) Direct Investment – loans and equity investment; investments above $ 15 million for overall project value of $50 million+ Technical Assistance (e.g. energy audits, financial advisory services, project preparation and implementation, policy dialogue) – applicable to any sector and project size The European Bank for Reconstruction and Development:Modus Operandi $1,000+ Project value $100,000,000+ Technical Assistance

  4. Mobilising Private Sector Investment for Climate Finance - Rationale • The private sector is key to delivering sustained volumes of financing for energy efficiency and renewables. Mobilising it through concessional co-finance ensures that: • leverage of scarce GEF resources is maximised (through reflows of income generated and additional EBRD as well as other partners’ investment) • GEF activities support investments in the low-carbon economy and to mainstream climate resilience measures in the project cycle / project development • There will be clear benefits in the local capacity for sustainable energy policy-making and regulation, thus creating a positive - virtuous circle whereby a favourable policy environment will lead to further low-carbon investments

  5. EBRD and the EARTH FUND • EBRD working on two main proposals: • Regional Industrial Energy Efficiency Facility to enable low-carbon growth by: • supporting equipment replacement; • introducing competitive pressures towards low-carbon product manufacturing. Proposed Financing Instrument: EBRD loans (80%) with Earth Fund / Donor loans on concessional terms; • Regional Clean-Tech Fund to support local banks in investing in clean energy lending: • Tiered fund model; • Earth Fund to invest with EBRD, other donors and investors.

  6. Current EBRD GEF Project Activities • Industrial Energy Efficiency • Medium-Sized Renewables • Energy Efficiency in the Built Environment • Residential Buildings (through public investment) • Public Buildings • Introducing adaptation measures in water management (first application under the Special Climate Change Fund)

  7. Industrial Energy Efficiency • Substantial programme to support industrial clients through TA funded energy audits • EBRD UNIDO programme funded by GEF under preparation in Russia ($15m) • Capacity building for federal and regional government (Energy Agency) • Training and support to large industrials and SMEs on energy management and energy efficiency technologies • Investment support through EBRD direct lending and credit lines (RUSEFF)

  8. Renewables Support • This consists of a combination of regulatory and investment support for smaller renewable energy projects in our countries of operations • EBRD Renewables Direct Lending Facility in Ukraine: €50m EBRD financing, €20m CTF and €30m equity • $8.45m GEF grant for TA to support Ukraine in: • Further development of the regulatory framework • Assistance to developers in preparing commercial arrangements for projects • Environmental assessments

  9. Residential Buildings Programme Objective Address 1960s era apartment blocks (Khrushevki) Close co-operation with central government agencies and local governments to undertake energetic refurbishment Project Preparation Capacity building for regional/municipal governments Best practice training for improved regulation GEF funding for work in Russia (with IFC). Other donors covering Ukraine Provide finance Combine public finance and EBRD finance through a range of instruments – credit lines, direct lending to municipalities or housing associations Similar programmes are delivered by EBRD using private banks in Slovakia, Bulgaria, Georgia with EU (Slovakia/Bulgaria) and private sector (Georgia) support GEF funded programme underway in Russia with IFC ($9 million)

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