When All Goes South. Manana Kochladze Beirut, November, 2014

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1 When All Goes South Manana Kochladze Beirut, November, 2014

2 EBRD Snapshot AAA-rated multilateral institution founded in 1991 Owned by 64 countries and two inter-governmental institutions (EC and EIB) Headquartered in London, the EBRD invests in all countries from Central and Eastern Europe to Central Asia In 2012, the Bank expanded its operations to include Egypt, Morocco, Tunisia, and Jordan (Southern and Eastern Mediterranean SEMED region) Capital base of 30 billion, AAA rated by all 3 agencies

3 EBRD: Expansion into SEMED The Arab Spring of 2011 created major new transition challenges in the SEMED region. The May 2011 G8 Summit launched the Deauville Partnership to support democratic transition, transparent government and sustainable growth. EBRD shareholders later that year approved an expansion of EBRD s mandate to include 4 SEMED Countries (Egypt, Jordan, Morocco and Tunisia). In November 2013, EBRD Board of Governors granted full Country of Operation status to Jordan, Morocco and Tunisia. The review of Egypt s political situation has been scheduled for In 2013 Host Country Agreements were signed with Egypt, Tunisia and Jordan, Morocco. The goal is to invest 1.5 bln EU by the end of

4 EBRD: SEMED Investment Projects 4

5 EBRD Experience Egypt: Investment to Date Projects Egypt Portfolio: Sector Breakdown As of 17 June 2014, excl. TFP 5

6 EIB Snapshot EIB owned by EU Member States External Lending Mandate with EU guarantees Priorities of External Mandate lending in MENA region - energy, transport, water and sanitation, Urban Development, Facility for Euro-Mediterranean Investment and Partnership (FEMIP) ELM guarantees around 10 bln for MENA region EIB also can invest without EU guarantee

7 EIB investments by 2012 in MENA

8 In Focus EU Energy Security It is evident that the EU cannot reach the EU policy objectives without adequately addressing the external dimension (2011) Plan for EU-Southern Mediterranenan energy partnership mobilise regional level action in developing countries, particularly in Africa, to reform legal and regulatory frameworks with a view to creating market based conditions that attract private sector investments and enhance regional power trade A coherent, dynamic and pro-active external energy policy is vital to enable the EU and its MS to establish a lead position in energy geopolitics, to effectively promote both EU and national energy interests beyond EU borders, and to contribute to the competitiveness of the European industry

9 Where money can come from EBRD EIB MS ECAs- KfW, ADB, COFACE and etc, EU Development Funds

10 EIB in MENA region EIB EBRD: expanding the mandate in the Mediterranean region (TA, legislation reform, PPPs) EIB in Mediterranean: since 2000, ¼ lending in energy sector EIB 2.5 billion euro per year to invest in the region Turkey, North Africa: key energy hubs towards Europe (gas, oil, renewables) Transmed pipeline expansion (Tunisia Italy) EIB loan 185 million Euro Medgaz gas pipeline (Algeria Spain): EIB loan 500 million euro LNG terminals in Egypt Regassification plants in Italy, Spain, Northern Europe More EIB energy investments through financial intermediarie

11 Investment in SEMED region (EBRD) 2.5 billion Euro by 2015, with major focus Egypt Priority by Countries Egypt - Energy and its utilities, infrastructure, MEI, PPP Jordan MEI, water/waste, Agribusiness, PPP Morocco Energy, Natural Resources, infrastructure, MEI PPP Tunisia Transport and infrastructure, energy, PPP Regional: Southern and Eastern Mediterranean Project Preparation Framework - NIF contribution allows the EBRD to prepare investment operations in countries of the Southern and Eastern Mediterranean.

12 What they are really supporting Support for the private sector Focused on multinationals, oil companies and agribusiness PPP structures and its development large energy, transport, urban development