April 2013

© European Bank for Reconstruction and Development 2010 | www.ebrd.com

Working with the European Bankfor Reconstruction and Development

Rogier Wieffer,

Adviser to the Board Office for the Netherlands,

Mongolia, Macedonia and Armenia

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What is the EBRD?

International financial institution, promotes transition to market economies in 34 countries from central Europe to central Asia

In 2011, the Bank expanded its operations to include Egypt, Morocco, Tunisia, and Jordan (Southern and Eastern Mediterranean – SEMED region)

Owned by 64 countries and twointer-governmental institutions

Capital base of €30 billion*

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Cumulative commitments of €80.3bn

Note: Unaudited as at 30 April 2013

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The EBRD and its objectives

Your engaged partner

Operates in “business time”

Private sector focused

Wide product, currency, tenor range

Facilitates inward and cross border investments in the region

Promotes policy dialogue with regards to investment climate business environment and policy matter

AAA rating profitable, commercial focus

To promote transition to market economies by investing mainly in the private sector

To mobilise significant foreign direct investment

To support privatisation, restructuring and better municipal services to improve people’s lives

To encourage environmentally sound and sustainable development

The EBRD is Objectives:

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EBRD’s objectives achieved through financing the private sector

AAA/Aaa rated multilateral development bank

Invested over €80.3 billion in more than 3,716 projects since 1991

As at end April 2013:

– €1.4 billion invested in 72 projects

– Private sector accounted for 69% share

– Debt 85% & Equity 10%

Note: Provisional data as at 30 April 2013

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Debt ABV Equity ABV Net Cumulative Business Volume

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Where we operate

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EBRD finances diverse range of enterprises

Cumulative commitments €80.3bnUnaudited as at 30 April 2013

Agribusiness14%

Manufacturing & Services

25%

Property & Tourism

1%Equity Funds

4%Financial Institutions

21%

Municipal & Env Inf8%

Transport1%

Natural Resources1%

Power & Energy26%

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2013 ABV by region

Russia 29%

South-eastern Europe 17%

Eastern Europe & Caucasus 17%

Central Asia 10%

Turkey12%

Central Europe & Baltics 14%

SEMED6%

Cumulative commitments €80.3bn

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EBRD Product Flexibility tailored to project needs

Senior, subordinated, convertible

LT (up to 10y or more) or ST revolving

Floating/ Fixed rates

Choice of currencies (€, US$, RUB etc.)

Loans

Common stock or preferred

Minority position only (up to 35%)

Mezzanine

Other

– guarantees

– currency swaps

Equity

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Geographic Expansion of the Bank’s Region of Operations

The Board of the EBRD decided in 2011 to expand the Bank’s operations to Egypt, Morocco, Tunisia and Jordan.

On 18 September 2012 the EBRD’s Board of Directors approved three projects in Jordan, Tunisia and Morocco. Investments in Egypt are expected to be submitted shortly. These projects are the first in a series of investments in the southern and eastern Mediterranean (SEMED), which are expected to be running at as much as €2.5 billion annually by 2015.

Operational priorities in the SEMED region are:

– support for the private sector with particular emphasis on SME’s;

– developing non sovereign financing solutions for infrastructure including PPP structures;

– to promote sustainable energy and energy efficiency initiatives;

– to support and develop local capital markets.

Temporary offices in Morocco, Egypt, Tunisia and Jordan are already in place.