(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 16. The European Bank
for Reconstruction and Development (EBRD) made a record investment
of over 2.4 billion euros in the Southern and Eastern Mediterranean
(SEMED) region in 2024, surpassing 2 billion euros from the
previous year, Trend reports.
This investment, covering six economies-Egypt, Jordan, Lebanon,
Morocco, Tunisia, and the West bank and Gaza-has a strong emphasis
on green Economy initiatives, which accounted for nearly half of
the total investment.
In Egypt, the EBRD invested over 1.4 billion euros, supporting
26 projects, with 84% directed toward the private sector. The Bank
also helped launch Egypt's first sustainability bond, which raised
485 million euros, allocating the majority to green projects like
renewable energy and energy efficiency.
Jordan saw 169 million euros in investment, with a significant
portion going into sustainable infrastructure, including a
wastewater treatment project that will benefit 200,000 residents in
West Irbid. The Bank also continued to support small businesses in
Lebanon and Morocco, with a focus on green transition initiatives
and start-up support.
Morocco received 530 million euros in investment, with a record
59% going to green projects. This included financing a climate
adaptation initiative for OCP Group, aimed at enhancing water
security through new desalination plants. Tunisia's renewable
energy sector also benefited from EBRD support, including funding
for solar power plants in Sidi Bouzid and Tozeur.
In the West Bank and Gaza, the Bank provided 67 million euros in
loans and investments to support small businesses, marking its
first equity investment in the region with the Bank of Palestine
and Ibtikar venture capital fund.
The EBRD's investment efforts were bolstered by strong donor
support, including contributions from the EU, the Green Climate
Fund, and other bilateral and multilateral donors, ensuring the
continued development of small businesses and sustainable projects
in the SEMED region.
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