€ 1 million fund will support projects in the fields of water, energy and climate chang

The Ministry of Economics and Industry, the Ministry of Finance and the Environment jointly established a unique fund in cooperation with the European Bank for Reconstruction and Development (EBRD). The € 1 million fund was established to support projects in the fields of water, energy and coping with climate change in countries where the Bank is active, mainly in Central and Eastern Europe and Central Asia.
The fund will provide a range of technical assistance tools such as feasibility surveys, engineering opinions, legal opinions, surveys, feasibility studies, advice, and so forth. These tools enable raising funds for projects from commercial banks, regional development banks and special funds whose role is to provide supplementary financing for environmental projects such as the Green Climate Fund.
This initiative is part of the Israeli government's efforts in the international arena to strengthen economic ties and cooperation with developing countries.
The State of Israel is one of the countries that founded the European Bank for Reconstruction and Development (EBRD) in 1991 after the dissolution of the Soviet Union in order to help the countries of the region move to a market economy. The bank's loans amount to about 10 billion euros a year, which are invested in about 400 projects. In recent years, the bank has been leading investments in the environmental field, which in 2020 will constitute about 40% of its activity.
Emerging markets are a huge economic opportunity. Through economic cooperation and development, government ministries strive to help Israeli companies realize the great potential inherent in these markets. Moreover, economic cooperation between Israel and developing countries also has a strategic strategic importance to strengthen Israel's role and position in the international community, to preserve its strategic interests and to maintain stability in its environment.
Economic cooperation for international development enables Israel to demonstrate its capabilities and role as an active and developed country that contributes to the effort to achieve sustainable development goals (SDG), thereby strengthening its position and influence in a range of influential international institutions and organizations.
Ohad Cohen, Director of the Foreign Trade Administration Ministry of Economy and Industry: "The Multilateral Development Banks are an Israeli export promotion channel both for technology and know-how and for contribution and assistance to the population in developing countries." The fund we established with the EBRD, the most important European institution for development in Eastern Europe, In the fields of clinical technology, according to a wide geographical area, and will enable Israeli companies operating in the sector to carry out projects on an international scale while accumulating practical experience in activity with emerging markets. This is the first fund we establish with the bank, and one of the ten funds in which the Israeli government is a member. Companies in the fields of environment, water, cyber and digital medicine are invited to contact us, the Foreign Trade Administration of the Ministry of Economy and Industry, and to learn about the variety of options and the tremendous potential that exists in working with international financial institutions. "
Shira Greenberg, Chief Economist, Ministry of Finance: "Congratulates the establishment of the fund that reinforces Israel's standing in the EBRD and in the countries in which the Bank is active. Will help Israeli companies promote their activities in emerging markets, which are of great importance, inter alia, because of the significant economic potential inherent in these markets for the Israeli economy. "
Galit Cohen, Senior Deputy Director General for Planning, Policy and Strategy at the Ministry of Environmental Protection: "The cooperation with the European Bank for Reconstruction and Development is another milestone in the environmental support program that the Ministry of Environmental Protection has been leading in the last two years. The story here is particularly significant: the current move will advance the State of Israel in realizing its international commitment under the Climate Convention and the Paris Agreement signed as a developed country that contributes to the global effort to deal with the consequences of climate change - not only through financial support but also through the transfer of unique knowledge and innovative technologies. "