The EBRD and donors
The EBRD is an international financial institution that supports projects from from the Southern and Eastern Mediterranean, to Central and Eastern Europe, to Central Asia.
The Bank invests in projects that contribute to the investments growth and innovation and promote countries' transition to market economies.
Through donor funds it mobilises investment capital and expertise by giving local business access to consultant experts. Donor programmes are funded by governments and international institutions, and are managed by the EBRD.
Over 30 per cent of the EBRD's financing has assisted projects in Russia, and the Bank aims to increase this level of commitment – including its support for micro and small enterprises (MSEs) through the Russia Small Business Fund.
Further information about the bank is available on the EBRD's web site.
Financial support has been provided to the RSBF by the USA, Germany, France, Japan, Italy, United Kingdom, Canada, and Switzerland through their donor agencies. Successful institution building has been made possible thanks to the technical assistance offered to partner institutions. The introduction of the Programme has provided them not only with a new source of funds to on-lend to MSEs, but also with consultancy support and proven lending technology. Technical Cooperation Special Fund has played a vital role in supporting the RSBF lending operations and the overall mandate of the Fund.
RSBF utilises two major components in pursuit of its objectives: provision of finance to PIs for on-lending to its target group (MSEs) in Russia and advisory services (technical co-operation or TC) to PIs to help them strengthen their organisational capacities, processes and procedures for lending to this target group.
To support its lending operations, EBRD draws funds from its ordinary capital resources up to a maximum ceiling of USD 450 million. In addition, such operations are co-funded by the resources of the RSBF Investment Special Fund (ISF), which are also recycled and which were originally provided at the outset of the RSBF by donor countries. Technical co-operation is supported through the RSBF Technical Co-operation Special Fund (TCSF), also based on resources provided by donor countries at the outset of the RSBF. G7 countries and Switzerland originally contributed USD 141.4 million for the formation of the ISF and TCSF. Separately, the Germany, Japan and the United Kingdom also provided additional TC funds totalling EUR 28 million to support RSBF operations at later stages.
Further information about the EBRD’s MSE finance programmes is available on the EBRD’s web site.