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EBRD support to anti-corruption efforts

EBRD support to anti-corruption efforts. Luisa Balbi, Principal Manager Civil Society Engagement, EBRD. Agenda. The EBRD in short The Investment Climate and Governance Initiative Civil Society Capacity Enhancement Framework. EBRD Headquarters in London. WHO WE ARE.

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EBRD support to anti-corruption efforts

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  1. EBRD support to anti-corruption efforts Luisa Balbi, Principal Manager Civil Society Engagement, EBRD

  2. Agenda • The EBRD in short • The Investment Climate and Governance Initiative • Civil Society Capacity Enhancement Framework EBRD Headquarters in London

  3. WHO WE ARE The EBRD invests to build up effective market economies in countries across three continents and to make a positive impact on people’s lives. With a focus on private sector investment and support for policy reform, we work to ensure that economies in our regions are competitive, inclusive, well-governed, green, resilient and integrated.

  4. WHERE WE ARE

  5. Shareholding • Established • 1991 • The EBRD is owned by • 67 countries • from five continents, as well as the European Union and the European Investment Bank. These shareholders have each made a capital contribution, which forms our core funding. • Capital base • €30 billion • Triple-A rating • from all three main rating agencies (S&P, Moody’s and Fitch) EU28 countries Includes European Community and European Investment Bank (EIB) each at 3%. Among other EU countries: France, Germany, Italy, and the UK each holds 8.6% EBRD region Excluding EU, Russia at 4% USA Japan Other Including China and India As at January 2018

  6. Our Transition Qualities Competitive Building dynamic and open markets that stimulate competition, entrepreneurship and productivity growth. Well-governed Promoting the rule of law, transparency, and accountability, and stimulating firms to adequately safeguard and balance the interests of their stakeholders. Inclusive Building inclusive market economies which ensure equal economic opportunity for all and leave no group behind. Integrated Building geographically integrated domestic and international markets for goods, services, capital and labour. Resilient Building resilient market economies that can withstand turbulence and shocks. Green Building green, sustainable market economies which preserve the environment and protect the interests of future generations.

  7. Results • Net cumulative Bank investment • €119.6 billion (since 1991)€9.67 billion (in 2017) • Number of projects • 5,035 (since 1991)412 (in 2017) Cumulative disbursements €91.5 billion Private sector share of cumulative investment79% As at December 2017

  8. Portfolio Overview Regional (€ billion) As at January 2018

  9. Western Balkans: At a glance • Total cumulative EBRD investments: EUR 10.3 billion in 595 projects • Active portfolio: EUR 5 billion • Annual new business: up to 1 billion • WB is atypical for EBRD - Large share in the public sector due to significant infrastructure investments and weak private sector • Cumulative grants commitments: about EUR 0.5 billion • Of which 40% is EU bilateral funding Unaudited results 2017

  10. Western Balkans Policy and Investment Context Governance & Investment challenges Strategic Priorities • Strong political influence on & weak economic performance of SOEs • Unfair competition due to grey economy & SOEs • Corruption: legal and judicial system • Constricted fiscal space – need for IFIs to co-ordinate • High euroisation and corporate indebtedness • Difficult access to finance for SMEs • Underinvested / poor infrastructure • Limited overall and individual market size • Ministries and municipalities lack technical and financial capacity to develop projects • Environmental legacies • Regional Connectivity in infrastructure & cross -border initiatives • Regional Energy development with focus on electricity market liberalization &cross-border access; alternative energy sources • Business Environment (Regional Economic Area – ‘soft connectivity’), improved Rule of Law – needed to Strengthen the Private Sector : support to microfinance and SMEs, and Innovation • Digital Connectivity • Inclusion: with focus on youth employment • Capital Market Development • Addressing environmental legacies and investing in climate resilience measures - prepare for drought and flooding

  11. As well as Grants & Financial Instruments Incentives Policy reform Funded by donors Risk Sharing/ Guarantees SME advisory services Capital grants Research, Legal and Regulatory reforms TCs for project preparation and implementation Capacity building In addition, donors (predominantly global climate funds) provide funding in form of concessional finance.

  12. Investment Climate and Governance Initiative Programmes in the Western Balkans • 5 ICGI country programmes: • Albania and Serbia programmes launched in 2014 and 2015, respectively. • MoU with Kosovo signed in 2017. • BiH and Montenegro MoUs signed in 26 February 2018. • ICGI scoping mission to FYR Macedonia in March 2018 • Large portfolio of projects in Albania and Serbia and robust pipeline of projects in all five countries including: • Capacity-building in state institutions of economic governance • Public-private dialogue platforms (‘Investment Councils’) • Business registration • Alternative dispute resolution (ADR, commercial mediation and arbitration) • Anti-corruption / business integrity and compliance • Corporate governance, particularly in state-owned enterprises • Public procurement reform • Strengthening competition law and building capacity in Competition Authorities

  13. ICGI Regional projects in the Western Balkans • Under Implementation: • Western Balkans Regional Business Registries Portal- Unified business registry covering the whole region • WB Chamber Investment Forum and Online Investment Platform- Regional Chamber with permanent Secretariat headquartered in Trieste • Enhancing the capacity of civil society and the private sector to fight corruption- United Nations Office for Drugs and Crime • Under Development: • WB Network for Integrity and Compliance- Business-led forum to disseminate international best practice standards and lobby regional governments to strengthen compliance requirements • WB Competition Forum- Network of regional Competition Authorities aimed at enhancing knowledge-sharing and best practice stands on competition law enforcement • WB Regional Business Friendly Network- Institutionalisation of ‘Business Friendly Environment’ certification programme with policy reform dimension

  14. CSO Capacity Enhancement Framework

  15. CSO Capacity Enhancement Framework As of the end of 2017, the donor resources mobilised for 19 EBRD TC projects is €5.2 million and each focus area is currently allocated a percentage of the budget as follows:

  16. Governance • Partner: UNODC • EBRD contribution: 293,500 Euro • Target beneficiaries: civil society organisations, business association and private sector development organisations • Activities: Sarajevo, 29 September 2017 • Training on: • Developing Effective Anti-Corruption Ethics and Compliance Programmes • Shaping Corporate Cultures to Enhance Ethics and Compliance Programmes • Regional Anti-Corruption Trend and Frameworks • Collective Action to Enhance Business Integrity in the Balkans

  17. Thank you for your attention

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