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.