EBRD reports record 2020 investment in response to COVID-19
The European Bank for Reconstruction and Development responded to the coronavirus pandemic with record investment of €11 billion in 2020 through 411 projects. The figure represents a 10% increase in annual business investment relative to 2019, when the bank provided €10.1 billion to finance 452 projects.
The EBRD supported a new record of 2,090 trade finance transactions worth €3.3 billion under its Trade Facilitation Programme, involving 90 issuing and 140 confirming banks across 40 countries worldwide. Examples of transactions include the import of medicines from Spain, Turkey and Switzerland into Lebanon, Georgia and Jordan, or the export of solar power technologies from Greece to Spain and the United Kingdom.
In addition to its own funds, the EBRD also directly mobilised €1.2 billion from co-investors. The bank continued to concentrate its support on the private sector, which accounted for 72% of total EBRD investment last year.
The share of green investment fell to 29% after 46% in 2019. The EBRD says this was "due to the urgency of addressing the COVID-19 crisis".
