In 2025, the European Bank for Reconstruction and Development (EBRD) invested a record €2.8 billion across 65 projects in seven economies in the southern and eastern Mediterranean (SEMED) region, including Egypt, Iraq, Jordan, Lebanon, Morocco, Tunisia, and the West Bank and Gaza. This marked an increase from €2.4 billion in 2024, with 70 per cent of the finance directed to the private sector. The Bank also mobilised a record €747 million in private investment, demonstrating strong support for partner economies during challenging times.
In Egypt, the EBRD invested €1.3 billion across 26 projects, with 70 per cent of funds going to the private sector, 60 per cent allocated to green finance, and almost half supporting gender equality initiatives. Key projects included a €200 million investment in the Egyptian Electricity Transmission Company to expand renewable energy capacity and a €68 million syndicated loan to Orange Egypt to support its 5G rollout. The Bank continued to back SMEs and businesses led by women and youth across sectors such as manufacturing, agribusiness, pharmaceuticals, and services.
In Jordan, EBRD investment reached €201 million across 10 projects, with 86 per cent supporting the private sector and over 44 per cent focused on green finance. About 80 per cent of investment supported women and youth in the workforce. Projects included a subordinated Basel III-compliant loan to Capital Bank to expand lending to SMEs and a sovereign-backed €24.1 million loan, paired with an EU investment grant, to strengthen the national electricity transmission grid.
Following Iraq’s recognition as an EBRD economy of operation in 2025, the Bank provided its first investment of US$100 million to the National Bank of Iraq to facilitate trade finance and boost import-export activities. In Lebanon, the EBRD continued supporting essential commodity imports with €22 million through its Trade Facilitation Programme and delivered over 132 new advisory projects under the Advice for Small Businesses programme, targeting green economy transitions and inclusion of women and youth. Additional initiatives included a €10 million EU-funded programme to improve resource efficiency in small enterprises and a €4 million EBRD-funded programme to aid SMEs affected by the war.
Morocco received €895 million in EBRD investment, up from €530 million in 2024, with 33 per cent supporting private sector projects and over 80 per cent allocated to green finance. Significant investments included a €300 million sustainability-linked loan to ONEE for energy sector resilience, €150 million for the Saïss Water Conservation Programme benefiting 1.8 million people, and a €50 million loan to Crédit du Maroc for private sector green initiatives.
In Tunisia, the EBRD invested €398 million across 12 projects, including a €50 million tranche of a development-linked loan to Tunisie Telecom to upgrade mobile networks and expand fibre connections. With EU support, the Bank provided loans for youth-led SMEs under the Youth in Business programme and green economy projects, offering financing for renewable energy, energy efficiency, climate adaptation, and circular economy initiatives.
In the West Bank and Gaza, the EBRD delivered €28 million through six transactions in 2025, bringing cumulative financing since 2017 to €185.5 million. Support included over 175 advisory projects, onboarding 19 startups to the Star Venture programme, and training more than 600 SMEs. Across the SEMED region, the Bank continued targeted policy engagement and technical cooperation, emphasizing green transition, professional skills development, state-owned enterprise governance, market competitiveness, and regulatory reform. Strong donor support, including from the EU, the SEMED Multi-Donor Account, the Green Climate Fund, and other bilateral and multilateral contributors, complemented the Bank’s investment activities.
