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EBRD Annual Bank Investment1

by economy and by region, 2018 (€ million)

Central Europe and the Baltic states2

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Total1,0681,2041,4381,1591,26723,24825,884
Croatia2981983111241713,788947
Estonia40481354652128
Hungary6791271181243,103644
Latvia4613342693192
Lithuania328285141859270
Poland5946477766595569,4312,834
Slovak Republic62871651081012,443468
Slovenia35775359771,056328

South-eastern Europe

* Following notification in February 2019 from the Ministry of Foreign Affairs of the Republic of North Macedonia, in future editions of the Annual Review the country will be named North Macedonia.

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Total1,6791,2821,5761,3811,74923,5908,272
Albania11910178222841,285655
Bosnia and Herzegovina681381991281952,2571,065
Bulgaria83826211401853,8861,073
FYR Macedonia325215819491641,845792
Kosovo3756478052362269
Montenegro759963330569346
Romania5922602015464438,3221,868
Serbia4534783043823965,0652,204

Eastern Europe and the Caucasus

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Total2,1241,6711,1661,8251,56724,5317,583
Armenia1141386364701,241310
Azerbaijan238269634563043,2311,415
Belarus242531241633602,377693
Georgia2141162482712673,287859
Moldova1059886131231,254528
Ukraine1,21099758174054313,1403,779

Central Asia

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Total8031,4021,3699231,06712,2764,270
Kazakhstan5767091,0515864727,6762,371
Kyrgyz Republic35481113338730184
Mongolia117467152149961,622797
Tajikistan62166455754665391
Turkmenistan12129291127253
Uzbekistan000693971,311473

Southern and eastern Mediterranean4

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Total1,0701,4561,3672,1871,9858,8256,409
Egypt5937807441,4131,1484,7543,516
Jordan1381634031582961,3261,053
LebanonN/AN/AN/AN/A244238234
Morocco2254311582921981,7591,012
Tunisia1148261324100747594

Cyprus

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Cyprus10833644164364208

Greece

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
GreeceN/A3204856148462,3971,617

Russia5

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Russia1081060.50.10.224,3471,960

Turkey

Economy20142015201620172018Cumulative
to end-2018		Active
portfolio
Turkey1,3941,9041,9251,5401,00111,0557,063


1 Annual Bank Investment (ABI) is the volume of commitments made by the Bank during the year. This includes: (i) new commitments (less any amount cancelled or syndicated within the year); (ii) restructured commitments; and (iii) amounts issued under the Trade Facilitation Programme (TFP) during the year and outstanding at year-end.

2 Cumulative ABI to the end of 2018 for the region of Central Europe and the Baltic states includes investments totalling €1,222 million made in the Czech Republic before 2008.

3 Following notification in February 2019 from the Ministry of Foreign Affairs of the Republic of North Macedonia, in future editions of the Annual Review the country will be named North Macedonia.

4 This chart for the southern and eastern Mediterranean region does not include investments in the West Bank and Gaza, which began in 2018 and are financed through a trust fund. For 2018, these investments totalled €12.6 million.

5 In accordance with the 2014 guidance from a majority of Directors not to engage in new business in Russia, the EBRD made no investments in new projects there during 2018.

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Who we are

The EBRD is investing in changing people’s lives from central Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean region. With an emphasis on working with the private sector, we invest in projects, engage in policy dialogue and provide technical advice which fosters innovation and builds modern economies that are competitive, well-governed, green, inclusive, resilient and integrated

What we do

Working from its London headquarters and network of 37 Resident Offices, the EBRD invests in commercial projects that deliver a market-based financial return while having a measurable economic, social or environmental impact. We work with private clients of all sizes, including small businesses, which constitute the backbone of many economies in the EBRD regions. We also finance municipal entities and publicly owned companies, often in support of essential infrastructure and services for people. The Bank invests in well-structured, financially robust projects, both directly and through financial intermediaries such as local banks and investment funds. Our principal financing instruments are loans, equity investments and guarantees.