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EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD)

 Institutional Set-up

European Bank for Reconstruction and Development (www.ebrd.com) is established in 1991 for the purpose of funding structural projects in ex-socialist countries of Central and Eastern Europe, supporting the process of their transition to market economy. The Bank is owned by 60 countries and 2 intergovernmental institutions (European Community and European Investment Bank) with subscribed capital exceeding EUR 20 billion. EBRD does not make direct use of this sound capital base for funding projects but incurs debts on international capital markets regularly observing good banking principles.

The bank promotes co-financing and foreign direct investments, mobilises the internal capital and provides technical assistance, works with banks, industries and businesses, as well as with public enterprises. It works in 27 countries from Central Europe to Central Asia, which strictly observe democratic principles.

The Bank management structure consists of Board of Governors (all authorisations delegated), Board of Directors (responsible for the general operation and policies) and the President (IBRD legal representative elected by the Board of Governors, managing the bank operations according to instructions given by the Board of Directors).

The EBRD access to solving complex transitional challenges is based on strategies, policies and procedures. There is a big difference between the countries of the region where the Bank performs its activities, so it adjusts its products and considers sector-directed approach in order to meet actual market needs in each country. Country strategies are developed and monitored individually for each of the 27 counties it is engaged in. Furthermore, the Bank encompasses sectoral policies formally establishing strategy in the following sectors: agriculture, energy, municipal infrastructure and environment, natural resources, ownership, shipping, transport, telecommunications, information technology and public media.
Project funding is core EBRD activity. The bank provides funding with loan and shareholder capital, securities, leasing, trade support, as well as funding professional development through supporting programmes. Actual solutions are created in line with client and project needs, as well as in line with the specific country, region and sector situations. So far, EBRD has granted more than EUR 22.7 billion to projects in private and public sector.

The big Bank projects amount from EUR 5 million to EUR 250 million (more than EUR 20 billion have been provided for more than 800 big projects). These projects should meet the basic conditions, such as being profitable and being of importance for the local economy, meeting the standards for environmental protection, being additionally funded by sponsors and by other co-financers.

Grassroots projects are almost always funded by financial intermediaries such as commercial banks, banks for micro businesses, capital funds and leasing institutions, thereby providing the entrepreneurs and small companies’ better access to the funds.

Trade Facilitation Programme provides credit facilities in form of EBRD securities issued on behalf of international commercial banks. The Bank, also, provides direct funding to banks in the region for the purpose of further lending to local companies for their trade activities.

EBRD is active with the following programmes for support of business activity development:

TurnAround Management Programme - TAM (exchange of managing know-how and business capabilities development);
Business Advisory Services Programme – BAS (development of professional local consultant capacities which will provide SMEs professional advisory support for the business performance);
Joint Vienna institute (carries out seminars for enterprise managers and state officials)
Within the framework of all its activities, the Bank acts in accordance with its corporative policies, procedures and strategies, such as public information policy, environmental policy, independent recourse mechanism etc.

ЕBRD in the Republic of Macedonia

For more information on completed and underway projects, visit the following link: www.sep.gov.mk/cdad

SEA contact persons:

Sofce Zafirovska
e-mail: sofce.zafirovska@sep.gov.mk
тел: (02) 3200 243

Jovan Despotovski
e-mail: jovan.despotovski@sep.gov.mk
phone: (02) 3200 138

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