Investment Bank Introduction - Excel

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					                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

Introduction




               EBRD investments 1991-2009

               This spreadsheet details all of the projects signed by the EBRD since its establishment in 1991.
               Cancelled projects are not included.


               The projects have been separated into the EBRD's 30* countries of operations:

                        Albania                   FYR Macedonia                  Montenegro                   Turkmenistan

                        Armenia                       Georgia                      Poland                       Ukraine

                       Azerbaijan                    Hungary                      Romania                      Uzbekistan

                        Belarus                    Kazakhstan                      Russia

                 Bosnia and Herzegovina          Krygyz Republic                   Serbia

                        Bulgaria                      Latvia                   Slovak Republic

                        Croatia                     Lithuania                     Slovenia

                    Czech Republic*                  Moldova                      Tajikistan

                        Estonia                     Mongolia                       Turkey




               Instructions
               Click on the buttons above, or the tabs along the bottom of the spreadsheet, to view the projects signed in each country.


               To sort the projects by sector or by year of signing, use the buttons at the top of each country page.
               Please note, these buttons will only function if you chose to "enable macros" when you opened the file in Excel.


               A sheet containing all project data is supplied at the end of the spreadsheet. To review EBRD projects across countries,
               by sector or by year of signing, click on the buttons at the top of the "all countries" tab.


               * As of 2007, the EBRD no longer makes new investments in the Czech Republic, but maintains a portfolio in the country.




Introduction
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name               Sub project            Description                                        Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Albania     Direct         Banca Italo Albanese       -                      Establishment of joint-venture bank with Banca di Bank equity     Private     1994      37,594      15,329   15,329           0      30,658
            investment                                                       Roma and National Commercial Bank of Albania.




Albania     Direct         Albanian Telecom           -                      Modernisation and expansion of                     Telecoms,       State      1992      38,045       6,823        0           0       6,823
            investment                                                       telecommunications network.                        informatics and
                                                                                                                                media


Albania     Direct         Drin River cascade         -                      Upgrade of main hydro power plants                 Power and      State       1994      34,165       1,445        0           0       1,445
            investment     rehabilitation                                                                                       energy




Albania     Direct         Hotel Rogner               -                      Construction of three-star hotel in Tirana.        Property and   Private     1994      24,237       8,122    2,030           0      10,152
            investment                                                                                                          tourism




Albania     Direct         Tirana Hotel               -                      Operation of three-star hotel in Tirana.           Property and   Private     1993      18,367       8,150    2,717           0      10,867
            investment                                                                                                          tourism




Albania     Direct         Coca-Cola Tirana           -                      Establishment of first local soft drink producer   Agribusiness   Private     1993       9,551       2,824        0           0       2,824
            investment                                                       and bottling plant.




Albania     Direct         Power transmission and     -                      Upgrade of power transmission and distribution     Power and      State       1995      80,880        100         0           0         100
            investment     distribution project                              systems.                                           energy




Albania     Direct         ProCredit Bank Albania     -                      Financing for micro and small enterprises.         Small business Private     1999       4,758          0     1,077           0       1,077
            investment     (formerly FEFAD Bank)                                                                                finance




Albania     Direct         National Commercial Bank   -                      Restructuring of commercial bank’s operations      Bank equity    Private     2000       7,880          0     2,332           0       2,332
            investment                                                       and strengthening of capital base.




Albania     Direct         SME recovery credit line   Banca Italo-Albanese   Credit line to assist small and medium-sized       Bank lending   Private     1998       1,004       1,004        0           0       1,004
            investment                                                       enterprises.




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                   Sub project   Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                               (€ 000)
Albania     Direct         Albania power sector           -             Modernisation of main hydro power plants,        Power and       State       1999       63,042     29,842        0           0      29,842
            investment     reconstruction                               transmission and distribution networks.          energy




Albania     Direct         Albania power distribution     -             Upgrade of power transmission, distribution      Power and       State       2002      190,293     23,890        0           0      23,890
            investment     rehabilitation                               systems and substations.                         energy




Albania     Direct         Road rehabilitation project    -             Emergency improvements to 30 km section of       Transport       State       2002       24,873     16,987        0           0      16,987
            investment                                                  road between Elbasan and Librazhd.




Albania     Direct         INSIG                          -             Pre-privatisation equity investment in leading   Insurance and   Private     2003       13,193      2,157    2,157           0       4,313
            investment                                                  insurance provider.                              financial
                                                                                                                         services


Albania     Direct         Vodafone Albania               -             Expansion of GSM mobile network.                 Telecoms,       Private     2003       72,500     24,706        0           0      24,706
            investment                                                                                                   informatics and
                                                                                                                         media


Albania     Direct         Fushe Kruje cement factory     -             Installation of new cement production line.      Manufacturing   Private     2004      101,017     20,806        0           0      20,806
            investment                                                                                                   and services




Albania     Direct         Vlore thermal power plant      -             Construction of oil-fuelled thermal power station. Power and     State       2004      104,071     40,000        0           0      40,000
            investment                                                                                                     energy




Albania     Direct         Tirana Airport Privatisation   -             Upgrading of facilities at the airport.          Transport       Private     2005       78,299     31,600        0           0      31,600
            investment     Project




Albania     Direct         Fier-Tepelene road             -             Upgrading and construction of the road from Fier Transport       State       2005      109,000     35,000        0           0      35,000
            investment     rehabilitation project                       to Tepelene.




Albania     Direct         Morpack Albania                -             Construction of a food packaging plant.          Agribusiness    Private     2005        5,500      2,500        0           0       2,500
            investment




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project            Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Albania     Regional       Southeast Europe Equity Fund -                       Equity fund investing in private funds in south-   Equity funds     Private     2005       1,812          0     1,812           0       1,812
            investment     II                                                   eastern Europe.




Albania     Direct         Durres port                   -                      Loan to finance a ferry terminal and related       Transport        State       2007      40,000      14,000        0           0      14,000
            investment                                                          infrastructure at the port of Durres.




Albania     Direct         Western Balkans Local         Union Bank of Tirana   Equity investment to strengthen Albanian bank’s    Bank equity      Private     2008       4,000          0     3,450           0       3,450
            investment     Enterprise Facility                                  expansion and lending activities.




Albania     Direct         Power transmission            -                      Upgrading of six transmission substations crucial Power and         State       2006      38,290      16,000        0           0      16,000
            investment     substations upgrade                                  to Albania’s energy transmission system.          energy




Albania     Direct         Tirana municipal transport    -                      Comprehensive upgrade of roads in Tirana.          Municipal and    State       2006      14,600      14,600        0           0      14,600
            investment                                                                                                             environmental
                                                                                                                                   infrastructure


Albania     Regional       European Fund for Southeast   -                      Privately managed public/private investment fund Small business Private         2006       2,000          0     2,000           0       2,000
            investment     Europe                                               which will provide financing for micro, small and finance
                                                                                medium-sized businesses as well as housing
                                                                                and rural finance in south-eastern Europe.

Albania     Direct         Euromax                       -                      Construction and operation of five supermarkets. Agribusiness       Private     2006      15,049       6,039    1,510           0       7,549
            investment




Albania     Regional       Balkan Accession Fund         -                      Finance provided to a private equity fund          Equity funds     Private     2006       5,245          0     1,120           0       1,120
            investment                                                          investing in medium-sized businesses.




Albania     Direct         Levan-Vlore road              -                      Loan to upgrade the road from Levan to Vlore.      Transport        State       2007      60,200      22,000        0           0      22,000
            investment




Albania     Direct         Western Balkans Local         BI-Invest              Establishment of a greenfield concrete             Manufacturing    Private     2007       1,000          0       700           0         700
            investment     Enterprise Facility                                  production plant in Lushnje, Albania.              and services




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project       Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Albania     Direct         Antea Cement                  -                 Debt and equity financing for construction and    Manufacturing   Private     2008      210,307     19,600    9,800           0      29,400
            investment                                                     operation of a new plant.                         and services




Albania     Direct         Albanian Telecom              -                 Investment to modernise telecommunications        Telecoms,       Private     2008      100,000     30,000        0           0      30,000
            investment                                                     services across the country.                      informatics and
                                                                                                                             media


Albania     Direct         Western Balkans Local         Agrotal           Establishment of an olive oil production plant.   Agribusiness    Private     2007        1,000         0       500           0         500
            investment     Enterprise Facility




Albania     Direct         Albania Reconstruction Equity -                 Modernisation, expansion, restructuring and       Equity funds    Private     1998        4,807         0     2,391           0       2,391
            investment     Fund (AREF)                                     development of small and medium-sized
                                                                           enterprises.


Albania     Regional       EnerCap                       -                 Private equity fund dedicated to investing in   Power and         Private     2007        5,000         0     1,250           0       1,250
            investment                                                     renewable energy and energy efficiency projects energy
                                                                           in central and south-eastern Europe.


Albania     Regional       Westdeutsche Allgemeine       -                 Equity investment for development and             Telecoms,       Private     2008       12,900         0     6,000           0       6,000
            investment     Zeitung                                         expansion of WAZ Media Group into new             informatics and
                                                                           markets across central and eastern Europe and     media
                                                                           the CIS.

Albania     Regional       ViaOne                        -                 Equity investment to support the commercial       Telecoms,       Private     2008         847          0       500           0         500
            investment                                                     launch and development of ViaOne Europa           informatics and
                                                                           Holding's software platforms.                     media


Albania     Direct         Western Balkans Local         Tirex Resources   The EBRD's first investment in Albania’s mining   Natural         Private     2008        6,134      6,134        0           0       6,134
            investment     Enterprise Facility                             sector.                                           Resources




Albania     Regional       CEE Special Situations Fund   CRG Capital       Investment in an equity fund managed by CRG       Equity funds    Private     2009         200          0       200           0         200
            investment                                                     Partners targeting distressed and under-
                                                                           performing companies.


Albania     Direct         Western Balkans and Croatia   Intesa SanPaolo   Capital increase in American Bank of Albania,     Bank equity     Private     2008        1,167         0     1,167           0       1,167
            investment     Financing Framework                             subsidiary of Intesa SanPaolo Albania.




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Albania     Direct         Western Balkans Local           Beba          Equity investment to support the new recycled-      Manufacturing   Private     2008       2,000          0     1,400           0       1,400
            investment     Enterprise Facility                           paper production line and to establish              and services
                                                                         wastepaper recycling networks throughout
                                                                         Albania.

Albania     Direct         Patos Marinza oilfield          -             Financing to support the development of the         Natural         Private     2009      91,874      21,334    7,111           0      28,445
            investment                                                   Patos Marinza oilfield.                             Resources




Albania     Direct         East Gate - Tirana Shopping     -             Long-term debt facility for the construction of a   Property and    Private     2009      54,999      24,000        0           0      24,000
            investment     Mall                                          Western-standard shopping mall in the outskirts     tourism
                                                                         of Tirana.


Albania     Regional       European Fund for SouthEast -                 Support to financial institutions for on-lending to Small business Private      2009      11,550          0     1,650           0       1,650
            investment     Europe II                                     MSMEs, as well as for housing and rural finance. finance




Albania     Regional       Southeast Europe Energy         -             Financing for energy efficiency projects through    Insurance and   Private     2009       9,488          0     2,500           0       2,500
            investment     Efficiency Fund (SE4F)                        local financial institutions.                       financial
                                                                                                                             services


Albania     Direct         Western Balkans Local           Union Bank    Credit line for on-lending to small and medium-     Bank lending    Private     2009       2,000       2,000        0           0       2,000
            investment     Enterprise Facility                           sized enterprises.




Armenia     Direct         Hrasdan thermal power plant     -             Construction and privatisation of power             Power and       State       1993      62,243      40,050        0           0      40,050
            investment     (Unit 5)                                      generating unit at the Hrasdan thermal power        energy
                                                                         plant (Unit No 5).


Armenia     Regional       First NIS Regional Fund         -             Equity fund investing in companies in the New       Equity funds    Private     1994         518          0       310           0         310
            investment                                                   Independent States (NIS).




Armenia     Direct         Yerevan (Zvartnots) air cargo   -             Improvement of ground facilities and air cargo      Transport       State       1994      18,336      14,868        0           0      14,868
            investment     terminal                                      handling services.




Armenia     Regional       MBA loan project                -             Financial support for students undertaking MBA      Bank lending    Private     1995         341        109         0          82         190
            investment                                                   degrees at top-tier business schools.




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project                Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Armenia    Direct         Armenia wholesale market      -                          Development of modern wholesale market            Agribusiness    State       1995       2,209        524         0           0         524
           investment                                                              distribution network for fresh food products.




Armenia    Regional       MBA loan project              -                          Financial support for students undertaking MBA    Bank lending    Private     1998          73         15         0          15          31
           investment                                                              degrees at top-tier business schools.




Armenia    Direct         Armenia Multi-bank            Agricultural Cooperative   Financing for small and medium-sized              Bank lending    Private     2003       2,081       2,081        0           0       2,081
           investment     Framework                     Bank Armenia               enterprises.




Armenia    Direct         IBSB                          -                          Equity investment in medium-sized local           Bank equity     Private     1999       1,054          0     1,054           0       1,054
           investment                                                              enterprises and facilitation of foreign direct
                                                                                   investment in the region.


Armenia    Direct         Yerevan Brandy Company        -                          Provision of permanent working capital and        Agribusiness    Private     2000      34,676      13,871        0           0      13,871
           investment                                                              development of export markets.




Armenia    Direct         Armenia Multi-bank            Armeconombank              Financing for small and medium-sized              Bank lending    Private     2000         694        694         0           0         694
           investment     Framework                                                enterprises.




Armenia    Direct         Armenia Multi-bank            Anelik Bank                Financing for small and medium-sized              Bank lending    Private     2002         694        694         0           0         694
           investment     Framework                                                enterprises.




Armenia    Direct         Armenian copper programme     -                          Improvements to copper smelter’s production       Manufacturing   Private     2002       5,826       3,121        0           0       3,121
           investment                                                              capacity.                                         and services




Armenia    Direct         Armeconombank                 -                          Equity investment to expand lending facilities.   Bank equity     Private     2004       1,420          0       904           0         904
           investment




Armenia    Direct         Regional Trade Facilitation   Armeconombank              Support for foreign trade.                        Bank lending    Private     2002         206        103         0         103         206
           investment     Programme




  All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project                Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Armenia    Direct         Direct Investment Facility    SHEN concern               Expansion of producer of construction materials. Manufacturing    Private     2004       1,250          0     1,250           0       1,250
           investment                                                                                                               and services




Armenia    Direct         Regional Trade Facilitation   Agricultural Cooperative   Support for foreign trade.                        Bank lending    Private     2004       1,200          0         0       1,200       1,200
           investment     Programme                     Bank Armenia




Armenia    Direct         Armenian Renewable Energy     -                          Long-term loan to Cascade Credit to promote       Power and       Private     2006      10,402       4,466        0           0       4,466
           investment     Programme                                                competitive and viable renewable energy           energy
                                                                                   projects.


Armenia    Direct         Armenia Multi-bank            Armeconombank              Financing for small and medium-sized              Bank lending    Private     2005       1,387       1,387        0           0       1,387
           investment     Framework                                                enterprises.




Armenia    Direct         SME credit line               Anelik Bank                Credit line for on-lending to small and medium-   Bank lending    Private     2004       1,734       1,734        0           0       1,734
           investment                                                              sized businesses.




Armenia    Direct         Direct Investment Facility    Liqvor                     Investment in a pharmaceuticals manufacturer.     Manufacturing   Private     2005       2,431        302       603           0         905
           investment                                                                                                                and services




Armenia    Direct         Direct Lending Facility       Deno Gold                  Gold mining project.                              Natural         Private     2005       3,121       3,121        0           0       3,121
           investment                                                                                                                Resources




Armenia    Direct         Armenia Multi-bank            Inecobank                  Financing for small and medium-sized              Small business Private      2005         694        694         0           0         694
           investment     Framework                                                enterprises.                                      finance




Armenia    Direct         Armenia Multi-bank            Agricultural Cooperative   Financing for small and medium-sized              Small business Private      2005       2,081       2,081        0           0       2,081
           investment     Framework                     Bank Armenia               enterprises.                                      finance




Armenia    Direct         Regional Trade Facilitation   Inecobank                  Support for foreign trade.                        Bank lending    Private     2005         320        160         0         160         320
           investment     Programme




  All investments 1991- 2009
                                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project                Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                (€ 000)
Armenia    Direct         Direct Investment Facility      Cascade Insurance and      Equity investment in an insurance company.           Insurance and   Private     2005       1,170          0       827           0         827
           investment                                     Reinsurance Company                                                             financial
                                                                                                                                          services


Armenia    Direct         Medium-sized Loan Co-           Agricultural Cooperative   Loan for on-lending to local private companies.      Bank lending    Private     2005         379        379         0           0         379
           investment     financing Facility              Bank Armenia




Armenia    Direct         Direct Lending Facility         Bazenc                     Investment in small hydropower project.              Power and       Private     2005       1,100       1,100        0           0       1,100
           investment                                                                                                                     energy




Armenia    Direct         Direct Investment Facility      Hytex Plastic              Expansion of plastic container manufacturer.         Manufacturing   Private     2005       2,153       1,435      718           0       2,153
           investment                                                                                                                     and services




Armenia    Direct         Armenia International Airport   -                          Construction of a new passenger terminal and         Transport       Private     2006      43,862      14,116        0           0      14,116
           investment                                                                purchase of new terminal equipment.




Armenia    Direct         Direct Investment Facility      Tamara Fruit               Equity investment in a local fruit company.          Agribusiness    Private     2006       1,036        518       518           0       1,036
           investment




Armenia    Direct         Medium-sized Loan Co-           Armeconombank              Loan for on-lending to local private companies.      Bank lending    Private     2005       1,734       1,578        0           0       1,578
           investment     financing Facility




Armenia    Direct         Armenia MSE Financing           Anelik Bank SME credit     Credit line for on-lending to small and medium-      Bank lending    Private     2006       1,734       1,734        0           0       1,734
           investment     Facility                        line III                   sized businesses.




Armenia    Direct         Armenia Multi-bank              Inecobank                  Credit line for on-lending to micro and small        Small business Private      2006       3,468       3,468        0           0       3,468
           investment     Framework II                                               businesses.                                          finance




Armenia    Direct         Armeconombank Mortgage          -                          Credit facility for on-lending as long-term loans.   Bank lending    Private     2006       1,387       1,387        0           0       1,387
           investment     Facility




  All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project                Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Armenia    Direct         Medium-sized Loan Co-        Agricultural Cooperative   Credit line for on-lending to medium-sized       Agribusiness     Private     2006         233        117         0           0         117
           investment     Financing Facility           Bank Armenia               businesses.




Armenia    Direct         Direct Investment Facility   Star Group                 Investment in a supermarket chain, for           Agribusiness     Private     2006       7,984       1,442    5,766           0       7,208
           investment                                                             acquisition and development of four additional
                                                                                  stores.


Armenia    Direct         Medium-sized Loan Co-        Agricultural Cooperative   Credit line for on-lending to medium-sized       Bank lending     Private     2006         272        136         0           0         136
           investment     Financing Facility           Bank Armenia               businesses.




Armenia    Direct         Lake Sevan                   -                          Upgrade of two waste-water treatment plants      Municipal and    State       2007      12,000       7,000        0           0       7,000
           investment                                                             and construction of a further three.             environmental
                                                                                                                                   infrastructure


Armenia    Direct         Medium-sized Loan Co-        Armeconombank              Credit line for on-lending to medium-sized       Agribusiness     Private     2006         555        277         0           0         277
           investment     Financing Facility                                      businesses.




Armenia    Direct         Medium-sized Loan Co-        Anelik Bank                Loan to Anelik Bank to expand its lending        Bank lending     Private     2007       1,500       1,500        0           0       1,500
           investment     financing Facility                                      activities.




Armenia    Direct         Medium-sized Loan Co-        Agricultural Cooperative   Loan to MavaTerm for design, installation and    Manufacturing    Private     2007         126        126         0           0         126
           investment     financing Facility           Bank of Armenia            service of heating and ventilation systems.      and services




Armenia    Regional       Brasseries International     -                          Reconstruction and development of breweries      Agribusiness     Private     2006       6,651       3,326    3,326           0       6,651
           investment     Holdings                                                across the Caucasus.




Armenia    Direct         Medium-sized Loan Co-        Armeconombank              Credit line for on-lending to medium-sized       Manufacturing    Private     2006         139        139         0           0         139
           investment     Financing Facility                                      businesses.                                      and services




Armenia    Direct         Direct Investment Facility   Natfood/Biella             Investments in primarily small and medium-sized Agribusiness      Private     2008       3,435          0     3,435           0       3,435
           investment                                                             private sector enterprises.




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project                Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Armenia    Direct         Medium-sized Loan Co-        Armeconombank              Renovation and construction of a second wing at Manufacturing       Private     2007         416        416         0           0         416
           investment     financing Facility                                      the Nairi Medical Centre                        and services




Armenia    Direct         Armenia Multi-bank           Armeconombank              Credit line to Armeconombank for on lending to      Small business Private      2007        2,081      2,081        0           0       2,081
           investment     Framework II                                            small and medium-sized enterprises.                 finance




Armenia    Direct         Armenia Multi-bank           Anelik Bank                Credit line to Anelik Bank.                         Small business Private      2007        5,000      5,000        0           0       5,000
           investment     Framework II                                                                                                finance




Armenia    Direct         ProCredit Bank Armenia       -                          Establishment of a dedicated microfinance bank      Small business Private      2007        2,144         0     2,144           0       2,144
           investment                                                             in Armenia.                                         finance




Armenia    Direct         ProCredit Bank Armenia       -                          Support for the development of micro and small- Small business Private          2008        4,855      1,387        0           0       1,387
           investment                                                             sized enterprises.                              finance




Armenia    Direct         Azerbaijan Multi-bank        Agricultural Cooperative   Loan for on-lending to local enterprises in rural   Small business Private      2007        8,322      4,161        0           0       4,161
           investment     Framework II                 Bank Armenia               areas.                                              finance




Armenia    Direct         Armenia Multi-bank           Cascade Bank               Loan to local banks to provide further support to   Bank lending    Private     2008        3,468      3,468        0           0       3,468
           investment     Framework II                                            small and medium-sized enterprises.




Armenia    Direct         Medium-sized Loan Co-        Armeconombank              Loan to Shant, an Armenian TV and radio             Telecoms,       Private     2007         381        381         0           0         381
           investment     financing Facility                                      broadcaster.                                        informatics and
                                                                                                                                      media


Armenia    Regional       Meinl Caucasus and Central   -                          Finance for the development of high-quality,        Property and    Private     2007      168,728         0    59,063           0      59,063
           investment     Asia                                                    international standard retail and mixed-use         tourism
                                                                                  properties in Caucasus and Central Asia.


Armenia    Direct         Artyk                        -                          Loan to support the financing of a multi-purpose    Property and    Private     2008       38,915     13,871        0           0      13,871
           investment                                                             complex construction in the city of Yerevan.        tourism




  All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project                Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Armenia    Direct         Armenia Multi Bank           Inecobank                  Credit line to Inecobank for onlending to SMEs.    Bank lending    Private     2007       3,468       3,468        0           0       3,468
           investment     Framework II




Armenia    Direct         Byblos Bank Armenia          -                          Equity investment in BBA (formerly International   Bank equity     Private     2007       6,010          0     5,030           0       5,030
           investment                                                             Trade Bank).




Armenia    Direct         Direct Investment Facility   Alpha Pharma               Equity stake enabling a leading pharmaceutical     Manufacturing   Private     2007       4,400          0     4,400           0       4,400
           investment                                                             wholesaler to expand its network.                  and services




Armenia    Direct         Armenia Multi-bank           Araratbank                 Credit line to Araratbank for onlending to         Small business Private      2007       3,468       3,468        0           0       3,468
           investment     Framework                                               MSMEs.                                             finance




Armenia    Direct         Direct Lending Facility      Shen Concern               Expanding the production of paints and lacquers, Manufacturing     Private     2007       3,537       3,537        0           0       3,537
           investment                                                             and beginning production of new materials such and services
                                                                                  as gypsum and masonry products.


Armenia    Direct         Armenia Multi-Bank           Converse Bank              Financing programme for small and medium-          Small business Private      2008       6,935       3,468        0           0       3,468
           investment     Framework II                                            sized enterprises.                                 finance




Armenia    Direct         Azerbaijan Multi-bank        Armeconombank              Syndicated loan to Armeconombank for               Bank lending    Private     2007      10,403       3,468        0           0       3,468
           investment     Framework II                                            expansion of its activities.




Armenia    Direct         Azerbaijan Multi-bank        Agricultural Cooperative   Credit line to ACBA for on-lending to small and    Small business Private      2007      13,871       4,855        0           0       4,855
           investment     Framework II                 Bank of Armenia            medium-sized enterprises.                          finance




Armenia    Direct         Medium-Sized Loan Co-        Anelik Bank                Helping Arzni, a water and soft drinks producer,   Agribusiness    Private     2008         555        555         0           0         555
           investment     financing Facility                                      to buy an automated PET bottling line.




Armenia    Direct         Electricity Networks of      -                          Financing to upgrade electricity distribution      Power and       Private     2009      74,762      42,000        0           0      42,000
           investment     Armenia                                                 network.                                           energy




  All investments 1991- 2009
                                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project                 Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Armenia    Direct         ACBA Credit Agricole Bank       -                           Senior loan to assist lending activities to farmers Small business Private     2008       12,484      6,242        0           0       6,242
           investment                                                                 and private sector Armenian entrepreneurs,          finance
                                                                                      particularly outside of the capital.


Armenia    Direct         Armenia Multi-bank              -                           Loan for mortgage lending and energy efficiency Small business Private         2008        6,935      1,734        0           0       1,734
           investment     Framework II                                                lending, and leasing.                           finance




Armenia    Direct         Agricultural Cooperative Bank Leasing                       Credit line for on-lending to small and medium-    Insurance and   Private     2008        5,548      5,548        0           0       5,548
           investment     of Armenia                                                  sized enterprises.                                 financial
                                                                                                                                         services


Armenia    Direct         Medium-Sized Loan Co-           Anelik Bank                 Help for Yerevan Beer to buy new equipment for Agribusiness        Private     2008         271        271         0           0         271
           investment     financing Facility                                          a glass bottling line.




Armenia    Direct         AraratBank                      -                           Acquisition of an equity stake in Araratbank, to   Bank equity     Private     2008        5,212         0     5,212           0       5,212
           investment                                                                 support its plans for further expansion.




Armenia    Direct         Armenia International Airport   -                           Financing for a new passenger terminal and         Transport       Private     2009      119,981     27,741        0           0      27,741
           investment     Phase II                                                    related equipment.




Armenia    Direct         Medium-Sized Loan Co-           Armeconombank               Expansion of ironing and dry cleaning services at Manufacturing    Private     2008         225        225         0           0         225
           investment     financing Facility                                          Selena Service.                                   and services




Armenia    Direct         Direct Lending Facility         Northern Ray Elite Holding Loan for the construction of a new residential and Property and     Private     2009        3,814      3,814        0           0       3,814
           investment                                                                commercial complex in the Armenian capital         tourism
                                                                                     Yerevan.


Armenia    Direct         Medium-Sized Loan Co-           Armeconombank Daroink       Facilitate the financing of Armenian medium-       Agribusiness    Private     2008         139        139         0           0         139
           investment     financing Facility                                          sized enterprises.




Armenia    Direct         Armenia Multi-bank              ProCredit Bank Armenia      Financing programme for small and medium-          Small business Private      2008         128          0       128           0         128
           investment     Framework II                                                sized enterprises.                                 finance




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                  Sub project                Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Armenia      Direct        Direct Lending Facility       Saranist/Armglass          A loan to a glass bottle and jar producer, to help Agribusiness    Private     2009       2,081       2,081        0           0       2,081
             investment                                                             increase production capacity and diversify its
                                                                                    product range.


Armenia      Direct        Medium-sized Loan Co-         Armeconombank              Extension of the existing MCFF loan to Shant for Telecoms,       Private       2009         156        156         0           0         156
             investment    financing Facility                                       the purchase of new premises.                    informatics and
                                                                                                                                     media


Armenia      Direct        Direct Lending Facility       Brasseries International   Support for Kotayk to develop its brewing         Agribusiness     Private     2009         347        347         0           0         347
             investment                                  Holdings                   business in Armenia.




Armenia      Direct        Direct Lending Facility       Star                       Financing of existing supermarket operations.     Agribusiness     Private     2009       2,427       2,427        0           0       2,427
             investment




Armenia      Direct        Medium-sized Loan             Anelik Armenia Glass       Finance to help with expansion at a stained glass Agribusiness     Private     2009         694        694         0           0         694
             investment    Cofinancing Facility                                     manufacturer.




Azerbaijan   Regional      First NIS Regional Fund       -                          Equity fund investing in companies in the New     Equity funds     Private     1994         518          0       310           0         310
             investment                                                             Independent States (NIS).




Azerbaijan   Direct        Air navigation system upgrade -                          Procurement of new air navigation equipment       Transport        State       1996      10,819       9,501        0           0       9,501
             investment                                                             and reconstruction of international passenger
                                                                                    terminal.


Azerbaijan   Direct        Baku water rehabilitation     -                          Improvement of water supply, quality and          Municipal and    State       1995      79,038      15,758        0           0      15,758
             investment                                                             reliability in Baku.                              environmental
                                                                                                                                      infrastructure


Azerbaijan   Direct        Silk Road                     -                          Reconstruction of 85 km section of Hajigabul-     Transport        State       2004      33,012      28,435        0           0      28,435
             investment                                                             Kyurdamir road.




Azerbaijan   Direct        Yenikend renewable energy     -                          Construction of hydro power station.              Power and        State       1994      52,063      36,924        0           0      36,924
             investment                                                                                                               energy




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                 Sub project                Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Azerbaijan   Direct        Mingechaur Power             -                          Replacement of generators at hydro power plant, Power and          State       1997       33,487     14,991        0           0      14,991
             investment                                                            reconstruction of high-voltage power              energy
                                                                                   transmission line and installation of substation.


Azerbaijan   Regional      AIG Silk Road Fund           -                          Financing for small and medium-sized private       Equity funds    Private     1997       11,814         0     2,278           0       2,278
             investment                                                            sector enterprises and joint ventures operating in
                                                                                   Russia and Central Asia.


Azerbaijan   Direct        Baku port development        -                          Modernisation of ferry terminal.                   Transport       State       1999        4,361       112         0           0         112
             investment




Azerbaijan   Direct        Trans-Caucasian rail link    -                          Improvement of Azeri section of the Trans-         Transport       State       1999       25,995     14,009        0           0      14,009
             investment                                                            Caucasian rail link.




Azerbaijan   Direct        Azerbaijan Multi-bank        Azerdemiryolbank           Financing for small and medium-sized               Bank lending    Private     1999         508        508         0           0         508
             investment    Framework                                               enterprises and development of banking sector.




Azerbaijan   Direct        Azerbaijan Multi-bank        International Bank of      Financing for small and medium-sized               Bank lending    Private     1998        2,801      2,801        0           0       2,801
             investment    Framework                    Azerbaijan                 enterprises and development of banking sector.




Azerbaijan   Direct        Direct Investment Facility   Silk Road Motel, Garadak   Construction of three-star hotel adjacent to the   Manufacturing   Private     1999        4,722         0     1,758           0       1,758
             investment                                                            oilfields, servicing business travellers.          and services




Azerbaijan   Direct        Chirag early oil project     Amoco Caspian Sea          Expansion of crude oil production and export       Natural         Private     1998      402,134     22,768        0           0      22,768
             investment                                 Finance Ltd                markets.                                           Resources




Azerbaijan   Direct        Chirag early oil project     Lukoil Overseas            Expansion of crude oil production and export       Natural         Private     1998      236,580     13,385        0           0      13,385
             investment                                                            markets.                                           Resources




Azerbaijan   Direct        Chirag early oil project     Turkish Petroleum          Expansion of crude oil production and export       Natural         Private     1998      159,425      9,037        0           0       9,037
             investment                                                            markets.                                           Resources




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                   Sub project            Description                                       Sector         Portfolio   Year of       Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                           Class       signing     project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Azerbaijan   Direct        Chirag early oil project       Unocal Finance Ltd     Expansion of crude oil production and export      Natural        Private     1998       237,805      13,454        0           0      13,454
             investment                                                          markets.                                          Resources




Azerbaijan   Direct        Chirag early oil project       Early Oil Finance Co   Expansion of crude oil production and export      Natural        Private     1998       188,868      10,708        0           0      10,708
             investment                                                          markets.                                          Resources




Azerbaijan   Regional      Frontera Resources             -                      Commercial development of Kursangi and            Natural        Private     2000       197,972       9,016        0           0       9,016
             investment                                                          Karabagli oilfields in Azerbaijan.                Resources




Azerbaijan   Direct        Nations Azerbaijan (formerly   -                      Development of onshore oilfields.                 Natural        Private     2000        66,677      27,581   13,790           0      41,371
             investment    Moncrief Azerbaijan Oil                                                                                 Resources
                           Company)


Azerbaijan   Direct        Azerbaijan Microfinance Bank -                        Financing for micro and small enterprises.        Small business Private     2002         7,309       3,139    1,569           0       4,708
             investment    (AMB)                                                                                                   finance




Azerbaijan   Regional      Baring Vostok Private Equity   -                      Direct equity investment in medium-sized          Equity funds   Private     2000         3,860          0     1,832           0       1,832
             investment    Fund                                                  companies.




Azerbaijan   Direct        SOCAR                          Shah Deniz gas         Development of Shah Deniz gas condensate          Natural        State       2004       384,978      26,701        0           0      26,701
             investment                                   condensate field       field.                                            Resources




Azerbaijan   Regional      Baku-Tbilisi-Ceyhan pipeline   -                      Construction of oil pipeline from Azerbaijan to   Natural        Private     2004      1,799,362     43,346        0           0      43,346
             investment                                                          Turkey.                                           Resources




Azerbaijan   Direct        Azdres Power Plant             -                      Modernisation of power plant supplying the        Power and      State       2006       167,834     143,561        0           0     143,561
             investment    Rehabilitation                                        majority of energy consumed in Azerbaijan.        energy




Azerbaijan   Direct        Azerbaijan Multi-bank          Unibank                Financing for small and medium-sized              Bank lending   Private     2002         2,070       1,035        0           0       1,035
             investment    Framework                                             enterprises and development of banking sector.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                  Sub project          Description                                         Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Azerbaijan   Regional      SOCAR                         South Caucasus Gas   Financing for 690 km gas pipeline from the Shah Natural            State       2004      48,833       8,648        0           0       8,648
             investment                                  Pipeline             Deniz field in Azerbaijan to the Turkish-Georgian Resources
                                                                              border.


Azerbaijan   Direct        Landmark I (Neptun)           -                    Refurbishment and acquisition of office             Property and   Private     2003       4,300       2,150        0           0       2,150
             investment                                                       development.                                        tourism




Azerbaijan   Direct        Regional Trade Facilitation   Unibank              Support for foreign trade.                          Bank lending   Private     2002         504        252         0         252         504
             investment    Programme




Azerbaijan   Direct        Regional Trade Facilitation   Azerdemiryolbank     Support for foreign trade.                          Bank lending   Private     2002         531        266         0         266         531
             investment    Programme




Azerbaijan   Direct        Unibank                       -                    Equity investment in Azerbaijan's largest private   Bank equity    Private     2003         877          0       877           0         877
             investment                                                       bank.




Azerbaijan   Direct        Regional Trade Facilitation   Azerigazbank         Support for foreign trade.                          Bank lending   Private     2003       5,738       2,869        0       2,869       5,738
             investment    Programme




Azerbaijan   Direct        Azerbaijan Multi-bank         Bank of Baku         Credit lines to Bank of Baku for on-lending to      Bank lending   Private     2004         694        694         0           0         694
             investment    Framework                                          small and medium-sized businesses.




Azerbaijan   Direct        Baku to Samur road            -                    Upgrading of a 60 km section of road from           Transport      State       2005      76,095      69,353        0           0      69,353
             investment                                                       Sumgait to Zarat.




Azerbaijan   Direct        Regional Trade Facilitation   Bank of Baku         Support for foreign trade.                          Bank lending   Private     2006       1,685        842         0         842       1,685
             investment    Programme




Azerbaijan   Direct        Landmark II (Libra)           -                    Refurbishment and acquisition of office             Property and   Private     2003       2,774       1,387        0           0       1,387
             investment                                                       development.                                        tourism




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name              Sub project                Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Azerbaijan   Direct        ACG Phase 1               Amerada Hess               Development of oil and gas facilities in the      Natural         Private     2004       4,882       1,165        0           0       1,165
             investment                                                         Caspian Sea by Amerada Hess.                      Resources




Azerbaijan   Direct        ACG Phase 1               Amoco Caspian Sea          Development of oil and gas facilities in the      Natural         Private     2004      29,060       6,935        0           0       6,935
             investment                              Finance Ltd                Caspian Sea by Amoco Caspian Sea Finance          Resources
                                                                                Limited.


Azerbaijan   Direct        ACG Phase 1               Statoil Apsheron Finance   Development of oil and gas facilities in the      Natural         Private     2004      15,934       1,734        0           0       1,734
             investment                              A/S                        Caspian Sea by Statoil Apsheron.                  Resources




Azerbaijan   Direct        ACG Phase 1               Unocal Finance Ltd         Development of oil and gas facilities in the      Natural         Private     2004      27,741       6,935        0           0       6,935
             investment                                                         Caspian Sea by Unocal Khazar.                     Resources




Azerbaijan   Direct        MBASK Insurance Company   -                          Strengthening of capital base and development     Insurance and   Private     2005       1,229          0       970           0         970
             investment                                                         of infrastructure, sales network and product      financial
                                                                                range.                                            services


Azerbaijan   Direct        Azerbaijan Multi-bank     Respublika Bank            Credit lines to Respublika Bank for on-lending to Bank lending    Private     2004         694        694         0           0         694
             investment    Framework                                            small and medium-sized businesses.




Azerbaijan   Direct        Azerbaijan Multi-bank     Azerdemiryolbank           Credit lines to Azerdemiryolbank for on-lending to Bank lending   Private     2004       1,387       1,387        0           0       1,387
             investment    Framework                                            small and medium-sized businesses.




Azerbaijan   Direct        Azerbaijan Multi-bank     Azerigazbank               Credit lines to Azerigazbank for on-lending to    Bank lending    Private     2004       1,387       1,387        0           0       1,387
             investment    Framework                                            small and medium-sized businesses.




Azerbaijan   Direct        Milk-Pro                  -                          Construction of new dairy processing plant in     Agribusiness    Private     2004       3,937       1,312    2,624           0       3,937
             investment                                                         Baku and modernisation of plant in Goychay.




Azerbaijan   Direct        Unibank                   -                          Loan to enable access to international markets to Bank lending    Private     2005       6,935       1,040        0           0       1,040
             investment                                                         raise medium-term financing for on-lending to
                                                                                local private enterprises.




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                  Sub project          Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Azerbaijan   Direct        Regional Trade Facilitation   Bank Respublika      Support for foreign trade.                           Bank lending    Private     2004        4,911      2,455        0       2,455       4,911
             investment    Programme




Azerbaijan   Direct        Lukoil Overseas               Shah Deniz gas       Development of the off-shore Shah Deniz gas          Natural         Private     2005      192,108     76,288        0           0      76,288
             investment                                  condensate field     and gas condensate field.                            Resources
                                                         development


Azerbaijan   Regional      Lukoil Overseas               South Caucasus Gas   Completion of pipeline in Azerbaijan and Georgia Natural             Private     2005       43,845     28,157        0           0      28,157
             investment                                  Pipeline                                                              Resources




Azerbaijan   Direct        Azerbaijan Multi-bank         Bank of Baku         Financing for small and medium-sized                 Bank lending    Private     2005         694        694         0           0         694
             investment    Framework                                          enterprises.




Azerbaijan   Direct        Garadagh Cement               -                    Equity investment.                                   Manufacturing   Private     2006        9,817         0     7,528           0       7,528
             investment                                                                                                            and services




Azerbaijan   Direct        Regional Trade Facilitation   AccessBank           Support for foreign trade.                           Bank lending    Private     2005         244          0         0         244         244
             investment    Programme




Azerbaijan   Direct        Azerdemiryolbank bank         -                    Equity investment in private joint-stock bank.       Bank equity     Private     2005        3,709         0     3,709           0       3,709
             investment




Azerbaijan   Direct        Azerbaijan Multi-bank         Bank Respublika      Financing for small and medium-sized                 Bank lending    Private     2005        1,387      1,387        0           0       1,387
             investment    Framework                                          enterprises.




Azerbaijan   Direct        Azerbaijan Multi-bank         Azerigazbank         Financing for small and medium-sized                 Bank lending    Private     2005        1,040      1,040        0           0       1,040
             investment    Framework                                          enterprises.




Azerbaijan   Direct        ETC Non-bank MFI              FINCA (Azerbaijan)   Credit line to increase financing available to the   Small business Private      2006        2,081      1,734        0           0       1,734
             investment    Framework II                                       smallest enterprises through on-lending.             finance




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name              Sub project          Description                                          Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Azerbaijan   Direct        Azerbaijan Multi-bank     Azerdemiryolbank     Financing for small and medium-sized                 Small business Private     2005         694        694         0           0         694
             investment    Framework                                      enterprises.                                         finance




Azerbaijan   Direct        Azerbaijan Multi-bank     Bank Respublika      Financing for small and medium-sized                 Small business Private     2005       1,387       1,387        0           0       1,387
             investment    Framework                                      enterprises.                                         finance




Azerbaijan   Direct        Azerbaijan Multi-bank     Unibank              Financing for small and medium-sized                 Small business Private     2005       1,387       1,387        0           0       1,387
             investment    Framework                                      enterprises.                                         finance




Azerbaijan   Direct        ETC Non-bank MFI          CredAgro             Credit line to increase financing available to the   Small business Private     2006         694        520         0           0         520
             investment    Framework                                      smallest enterprises through on-lending.             finance




Azerbaijan   Direct        Unibank                   -                    Loan to provide Unibank with access to               Bank lending   Private     2006       5,201       1,734        0           0       1,734
             investment                                                   international markets.




Azerbaijan   Direct        Azerbaijan Multi-bank     Bank of Baku (III)   Credit line for on-lending to small and medium-      Small business Private     2006       3,121       3,121        0           0       3,121
             investment    Framework                                      sized businesses.                                    finance




Azerbaijan   Direct        Azerbaijan Multi-bank     Mugan Bank II        Credit line for on-lending to micro, small and       Small business Private     2007       2,774       2,774        0           0       2,774
             investment    Framework                                      medium-sized businesses.                             finance




Azerbaijan   Direct        Azerbaijan Multi-bank     Azerigazbank         Credit line for on-lending to small and medium-      Small business Private     2006       1,387       1,387        0           0       1,387
             investment    Framework                                      sized businesses.                                    finance




Azerbaijan   Direct        ETC Non-bank MFI          Shore Overseas       Loan for on-lending to micro and small               Small business Private     2007       1,387       1,387        0           0       1,387
             investment    Framework                                      enterprises.                                         finance




Azerbaijan   Direct        Direct Lending Facility   Aqua Vita            Finance provided to locally owned mineral water      Agribusiness   Private     2006       3,121       3,121        0           0       3,121
             investment                                                   producer, Aqua Vita.




   All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                 Sub project              Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Azerbaijan   Direct        Azerbaijan Multi-bank        Unibank (II)             Credit line for on-lending to small and medium-   Small business Private      2006       1,387       1,387        0           0       1,387
             investment    Framework                                             sized businesses.                                 finance




Azerbaijan   Direct        Azerbaijan Multi-bank        Bank Respublika (III)    Credit line for on-lending to small and medium-   Bank lending    Private     2006       1,387       1,387        0           0       1,387
             investment    Framework                                             sized businesses.




Azerbaijan   Direct        Azerbaijan Multi-bank        Azerdemiryolbank (III)   Credit line for on-lending to small and medium-   Small business Private      2006       3,468       3,468        0           0       3,468
             investment    Framework                                             sized businesses.                                 finance




Azerbaijan   Direct        Unileasing (Equity)          -                        Equity investment in an Azeri leasing company.    Insurance and   Private     2007         520          0       520           0         520
             investment                                                                                                            financial
                                                                                                                                   services


Azerbaijan   Direct        Azerbaijan Multi-bank        Rabitabank               Credit line for on-lending to small and medium-   Small business Private      2006         971        832         0           0         832
             investment    Framework                                             sized businesses.                                 finance




Azerbaijan   Direct        Medium-sized Loan Co-        Bank Respublika          Credit line for on-lending to medium-sized        Bank lending    Private     2006       1,040       1,040        0           0       1,040
             investment    Financing Facility                                    businesses.




Azerbaijan   Direct        Medium-sized Loan Co-        Azerdemiryolbank         Loan to Azerdemiryolbank to expand its lending    Bank lending    Private     2007         694        694         0           0         694
             investment    Financing Facility                                    activities.




Azerbaijan   Direct        Azerbaijan Multi-bank        Mugan Bank               Credit line for on-lending to small and medium-   Small business Private      2006       1,387       1,387        0           0       1,387
             investment    Framework                                             sized businesses.                                 finance




Azerbaijan   Direct        Azerbaijan Multi-bank        Nikoil Bank              Credit line for on-lending to micro, small and    Small business Private      2007       1,387       1,387        0           0       1,387
             investment    Framework                                             medium-sized businesses.                          finance




Azerbaijan   Direct        Microfinance Bank Azerbaijan Equity                   Equity investment in the largest provider of     Small business Private       2006       2,268          0     2,268           0       2,268
             investment                                                          financial services to micro and small businesses finance
                                                                                 in Azerbaijan.




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                  Sub project              Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Azerbaijan   Direct        Regional Trade Facilitation   Mugan Bank               Support for foreign trade.                           Bank lending    Private     2006       2,074          0         0       2,074       2,074
             investment    Programme




Azerbaijan   Direct        ETC Non-bank MFI              Vision Fund AzerCredit   Financing for micro and small enterprises and to Small business Private          2008       1,387       1,387        0           0       1,387
             investment    Framework II                                           assist the non-bank microfinance institutions in finance
                                                                                  their commercialisation process.


Azerbaijan   Direct        Medium-sized Loan Co-         Bank of Baku             Loan to Baku electronics for construction of a       Manufacturing   Private     2007       2,774       1,387        0           0       1,387
             investment    Financing Facility                                     warehouse, showroom and administrative               and services
                                                                                  building.


Azerbaijan   Direct        Medium-sized Loan Co-         Bank of Baku             Loan to Avrora to help with the acquisition of new Agribusiness      Private     2007         694        347         0           0         347
             investment    Financing Facility                                     equipment for the production of biscuits.




Azerbaijan   Direct        Medium-sized Loan Co-         Bank of Baku             Credit line for on-lending to medium-sized           Bank lending    Private     2006       2,601       2,601        0           0       2,601
             investment    Financing Facility                                     businesses.




Azerbaijan   Direct        Azerbaijan Multi-bank         Azerigazbank IV          Credit line for on-lending to micro, small and       Small business Private      2007       4,161       4,161        0           0       4,161
             investment    Framework                                              medium-sized businesses.                             finance




Azerbaijan   Direct        ETC Non-bank MFI              Credagro                 Credit line to increase financing available to the   Small business Private      2007       2,081       1,838        0           0       1,838
             investment    Framework II                                           smallest enterprises through on-lending.             finance




Azerbaijan   Direct        Bank Respublika               -                        Loan to help the bank's expansion and                Bank lending    Private     2007      16,645       4,161        0           0       4,161
             investment                                                           development programme.




Azerbaijan   Direct        Azerbaijan Multi-bank         Bank of Baku             Credit line for on-lending to micro, small and       Small business Private      2007       2,081       1,387        0           0       1,387
             investment    Framework                                              medium-sized businesses.                             finance




Azerbaijan   Direct        Azerbaijan Multi-bank         Bank Respublika IV       Credit line for on-lending to micro, small and       Small business Private      2007       3,468       2,081        0           0       2,081
             investment    Framework                                              medium-sized businesses.                             finance




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name               Sub project             Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Azerbaijan   Direct        Unibank                    -                       Equity investment in Unibank                       Bank equity     Private     2007       7,621          0     4,685           0       4,685
             investment




Azerbaijan   Direct        Unibank III                -                       Third syndicated loan to Unibank.                  Bank lending    Private     2007      24,274       6,068        0           0       6,068
             investment




Azerbaijan   Direct        Unileasing                 -                       Loan to Unileasing, an Azeri leasing company.      Insurance and   Private     2007       2,081       2,081        0           0       2,081
             investment                                                                                                          financial
                                                                                                                                 services


Azerbaijan   Direct        Medium-sized Loan Co-      Unibank                 Loan to Caspian supplies to finance construction Manufacturing     Private     2007       1,248        416         0           0         416
             investment    Financing Facility                                 of a production hall and warehouse, as well as   and services
                                                                              working capital financing.


Azerbaijan   Direct        Medium-sized Loan Co-      Bank Respublika         Finance to help Veysaloglu Yayichili Gardashlari   Agribusiness    Private     2008      10,854       2,913        0           0       2,913
             investment    financing Facility                                 purchase new confectionery production
                                                                              equipment.


Azerbaijan   Direct        ETC Non-bank MFI           Norwegian Microcredit   Investment to increase financing for micro and     Small business Private      2008         694        694         0           0         694
             investment    Framework II                                       small enterprises in the ETC and to assist the     finance
                                                                              non-bank microfinance institutions.


Azerbaijan   Direct        Medium-sized Loan Co-      Azerdemiryolbank        Loan to SABA, an Azeri ice cream producer, to      Agribusiness    Private     2007         763        381         0           0         381
             investment    Financing Facility                                 help construct new premises and purchase new
                                                                              refrigerated delivery vehicles.


Azerbaijan   Direct        Azer-Yod II                -                       Loan to support the expansion of an Azeri iodine Manufacturing     Private     2008      12,346      10,403        0           0      10,403
             investment                                                       producer.                                        and services




Azerbaijan   Direct        Medium-sized Loan Co-      Azerdemiryolbank        Loan to expand the bank's lending activities.      Transport       Private     2008       4,855       2,427        0           0       2,427
             investment    financing Facility




Azerbaijan   Regional      Aureos Central Asia Fund   -                       Equity investment to support medium-sized          Equity funds    Private     2008         709          0       709           0         709
             investment                                                       enterprises in Azerbaijan, Central Asia and
                                                                              Georgia.




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                Sub project                Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Azerbaijan   Direct        Azeri Financial Sector      Azerigazbank               Support to local banks for various on-lending      Small business Private      2008        5,548      5,548        0           0       5,548
             investment    Framework                                              facilities.                                        finance




Azerbaijan   Direct        AccessBank                  -                          Syndicated loan for on-lending to micro and small Small business Private       2008       22,886      6,935        0           0       6,935
             investment                                                           enterprises.                                      finance




Azerbaijan   Direct        Medium-sized Loan Co-       Bank of Baku               Finance for the completion of Atlant's new hotel   Property and    Private     2008        1,907       347         0           0         347
             investment    financing Facility                                     in northern Azerbaijan and the purchase of         tourism
                                                                                  additional equipment.


Azerbaijan   Direct        Garadagh expansion          -                          Financing for the expansion of cement and          Manufacturing   Private     2009      360,000    120,000        0           0     120,000
             investment                                                           clinker production facilities.                     and services




Azerbaijan   Direct        Azerbaijan Multi-bank       Azerdemiryolbank IV        Financing for small and medium-sized               Small business Private      2008        9,709      9,709        0           0       9,709
             investment    Framework                                              enterprises.                                       finance




Azerbaijan   Direct        Azeri Financial Sector      Bank Respublika Mortgage Finance for on-lending to residential customers.     Bank lending    Private     2008        6,935      2,774        0           0       2,774
             investment    Framework




Azerbaijan   Direct        Azerbaijan Multi-bank       MuganBank III              Short and long-term funding to small and           Small business Private      2008        3,468      3,468        0           0       3,468
             investment    Framework                                              medium-sized Azeri enterprises.                    finance




Azerbaijan   Direct        Medium-sized Loan Co-       Bank of Baku               Credit line for on-lending to medium-sized         Telecoms,       Private     2008         832        347         0           0         347
             investment    financing Facility                                     businesses.                                        informatics and
                                                                                                                                     media


Azerbaijan   Direct        Medium-sized Loan Co-       Azerigazbank               On-lending to small and medium-sized               Bank lending    Private     2008        1,387      1,387        0           0       1,387
             investment    financing Facility                                     businesses.




Azerbaijan   Direct        ETC Non-bank Microfinance   Finance for Development    Credit line for on-lending to micro and small      Small business Private      2009         694        694         0           0         694
             investment    Institution Framework III                              enterprises.                                       finance




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country      Type of       Project name                  Sub project                Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
             investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Azerbaijan   Direct        Azeri Financial Sector        Bank Respublika MSME V Credit line for on-lending to micro, small and        Small business Private      2009       4,161       2,081        0           0       2,081
             investment    Framework                                            medium-sized enterprises.                             finance




Azerbaijan   Direct        Unibank                       -                          Financing to create a foundation for the growth of Bank lending   Private     2009      35,370      12,830        0           0      12,830
             investment                                                             one of Azerbaijan’s leading independent
                                                                                    commercial banks.


Azerbaijan   Direct        Azerbaijan Financial Sector   Demir Bank                 Loan for on-lending to micro, small and medium- Small business Private        2009       9,016       4,161        0           0       4,161
             investment    Framework                                                sized enterprises.                              finance




Azerbaijan   Direct        Azerbaijan Financial Sector   AccessBank                 Loan for on-lending to micro and small            Small business Private      2009       6,935       3,468        0           0       3,468
             investment    Framework                                                enterprises.                                      finance




Azerbaijan   Direct        Azerbaijan Multi-bank         MuganBank IV               Short and long-term funding to small and          Small business Private      2009       1,387       1,387        0           0       1,387
             investment    Framework                                                medium-sized Azeri enterprises.                   finance




Belarus      Direct        Minsk wholesale market        -                          Development of modern fruit and vegetable         Agribusiness    State       1993       7,362       4,237        0           0       4,237
             investment                                                             wholesale market complex.




Belarus      Direct        Brest-Minsk-Russian border    -                          Repair and upgrade of highway linking Minsk to    Transport       State       1994      87,067      39,468        0           0      39,468
             investment    highway improvement                                      Moscow, Warsaw and Berlin.




Belarus      Direct        Orsha Power Plant             -                          Construction of combined-cycle heat and power     Power and       State       1993      28,903      28,903        0           0      28,903
             investment    modernisation                                            plant.                                            energy




Belarus      Direct        Belarus Telecom               -                          Development of international and national transit Telecoms,       State       1992      26,899      26,899        0           0      26,899
             investment                                                             exchange, digital overlay network, optical fibre  informatics and
                                                                                    cable links and data and telex transmission.      media


Belarus      Direct        SME credit line               -                          Credit line to assist small and medium-sized      Bank lending    Private     1994      26,007      20,806        0           0      20,806
             investment                                                             enterprises.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project          Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Belarus     Direct         Priorbank                     -                    Equity investment in commercial bank.             Bank equity     Private     1998       2,608          0     2,608           0       2,608
            investment




Belarus     Direct         Direct Investment Facility    Milavitsa            Equity investment in ladies’ underwear            Manufacturing   Private     2000       2,329          0     1,010           0       1,010
            investment                                                        manufacturer.                                     and services




Belarus     Direct         Regional Trade Facilitation   Priorbank            Support for foreign trade.                        Bank lending    Private     2000       1,023        512         0         512       1,023
            investment     Programme




Belarus     Direct         Regional Trade Facilitation   Belgazprombank       Support for foreign trade.                        Bank lending    Private     2004       6,018       3,009        0       3,009       6,018
            investment     Programme




Belarus     Direct         Priorbank syndication         -                    Extension of short and medium-term loans to       Bank lending    Private     2003      24,967       8,322        0           0       8,322
            investment                                                        private sector clients.




Belarus     Direct         Priorbank syndicated          -                    Mortgage credit line.                             Bank lending    Private     2005      17,338      10,403        0           0      10,403
            investment     mortgage line




Belarus     Direct         Olivaria                      -                    Modernisation and expansion of brewery.           Agribusiness    Private     2005      17,148       9,351    4,676           0      14,027
            investment




Belarus     Direct         Belarus MSE Framework         Belgazprombank       Credit line to Belgazprombank for on-lending to   Small business Private      2004       4,161       4,161        0           0       4,161
            investment                                                        micro and small businesses.                       finance




Belarus     Direct         SME credit line               Priorbank            Credit line for on-lending to small and medium-   Bank lending    Private     2004       6,935       6,935        0           0       6,935
            investment                                                        sized businesses.




Belarus     Direct         Belarus MSE Financing Facility MinskTransit Bank   Credit line for on-lending to micro and small     Small business Private      2007       2,774       2,774        0           0       2,774
            investment                                                        businesses.                                       finance




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project             Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Belarus     Direct         Belarusian Bank for Small      -                       Support for private micro and small enterprises      Small business Private      2008       9,981       3,468        0           0       3,468
            investment     Business                                               in Belarus, particularly in the regions outside of   finance
                                                                                  the capital.


Belarus     Direct         Belarus MSE Framework          Belgazprombank          Credit line for on-lending to micro and small        Small business Private      2005       2,774       2,774        0           0       2,774
            investment                                                            businesses.                                          finance




Belarus     Direct         Belarus MSE Financing Facility Belrosbank              Credit line for on-lending to micro and small        Small business Private      2007       2,774       2,774        0           0       2,774
            investment                                                            businesses.                                          finance




Belarus     Direct         Belarusian Bank for Small      -                       Equity investment in Belarusian Bank for Small       Small business Private      2007       7,613          0     1,837           0       1,837
            investment     Business                                               Business                                             finance




Belarus     Direct         Belarus MSE Financing Facility Reconversion and        Credit line for on-lending to micro and small        Small business Private      2007       2,081       2,081        0           0       2,081
            investment                                    Development Bank        businesses.                                          finance




Belarus     Direct         Belarus MSE Financing Facility Belgazprombank          Credit line for on-lending to micro and small        Small business Private      2007       3,468       3,468        0           0       3,468
            investment                                                            businesses.                                          finance




Belarus     Direct         Priorbank Funding Facility     -                       Credit line for on-lending to small and medium-      Small business Private      2007      13,871       6,935        0           0       6,935
            investment                                                            sized businesses.                                    finance




Belarus     Direct         Reconversion and               -                       Investment to enhance private banking and       Bank equity          Private     2008       6,071       1,193    3,578           0       4,771
            investment     Development Bank                                       enterprise sectors, to support small and medium
                                                                                  enterprises and micro and small enterprises
                                                                                  lending by Belarusian private banks.

Belarus     Direct         Belarus MSE Financing Facility Minsk Transit Bank II   Credit line for on-lending to micro and small        Small business Private      2007       6,935       6,935        0           0       6,935
            investment                                                            businesses.                                          finance




Belarus     Direct         Pinskdrev                      -                       Financing the modernisation of a wood product        Manufacturing   Private     2009      10,403       5,201    5,201           0      10,403
            investment                                                            plant.                                               and services




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project              Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Belarus     Direct         Regional Trade Facilitation    ZAO Minsk Transit Bank   Support for foreign trade                         Bank lending    Private     2007       1,846        923         0         923       1,846
            investment     Programme




Belarus     Direct         Belarus MSE Financing Facility Belgazprombank           Five-year funding to on-lend to entrepreneurs.    Small business Private      2008      27,741      27,741        0           0      27,741
            investment                                                                                                               finance




Belarus     Direct         Regional Trade Facilitation    Belrosbank               Support for foreign trade.                        Bank lending    Private     2008         347          0         0         347         347
            investment     Programme




Belarus     Direct         Belarus MSE Financing Facility Minsk Transit Bank III   Loan for on-lending to micro, small and medium- Small business Private        2009       6,935       6,935        0           0       6,935
            investment                                                             sized enterprises.                              finance




Belarus     Direct         Direct Investment Facility     Buslik                   Investment in supermarket chain specialising in   Manufacturing   Private     2009       2,081          0     2,081           0       2,081
            investment                                                             children's goods.                                 and services




Belarus     Regional       Almaz Capital Russia Fund I    -                        The Fund will make equity and equity-related   Equity funds       Private     2009       1,345          0       416           0         416
            investment                                                             venture capital investments in companies based
                                                                                   in Russia and the CIS.


Bosnia and Direct          Emergency                      -                        Reconstruction of telecommunications network,     Telecoms,       State       1998      66,110      17,464        0           0      17,464
Herzegovina investment     telecommunications                                      with provision for eventual privatisation.        informatics and
                           reconstruction                                                                                            media


Bosnia and Direct          Emergency transport            -                        Upgrade of airports, air navigation systems,      Transport       State       1996      83,466      22,685        0           0      22,685
Herzegovina investment     reconstruction                                          roads and bridges.




Bosnia and Direct          Emergency power                -                        Emergency reconstruction of war-damaged           Power and       State       1997      98,059      14,065        0           0      14,065
Herzegovina investment     reconstruction                                          power generation, transmission and distribution   energy
                                                                                   facilities.


Bosnia and Direct          Zagrebacka Banka               -                        Equity investment in Zagrebacka Banka.            Bank equity     Private     1997       1,011          0     1,011           0       1,011
Herzegovina investment




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project             Description                                     Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Bosnia and Direct          US/EBRD SME Finance           ProCredit Bank Bosnia   Equity investment to ProCredit Bank Bosnia.     Small business Private      1997       7,021          0       510           0         510
Herzegovina investment     Facility                                                                                              finance




Bosnia and Direct          Horizonte Bosnia and          -                       Equity investment in private enterprises or     Equity funds    Private     1998      16,926          0     4,650           0       4,650
Herzegovina investment     Herzegovina Enterprise Fund                           enterprises undergoing privatisation.




Bosnia and Direct          Raiffeisen Bank               -                       Extension of medium and long-term loans to      Bank equity     Private     1997       2,392       2,392        0           0       2,392
Herzegovina investment                                                           private corporate clients.




Bosnia and Direct          Sarajevska Pivara             -                       Modernisation of brewery and expansion into soft Agribusiness   Private     1997      10,737       3,093        0           0       3,093
Herzegovina investment                                                           drink production.




Bosnia and Direct          Pivara Tuzla                  -                       Modernisation of brewery and improvement of     Agribusiness    Private     2000       9,357       6,135        0           0       6,135
Herzegovina investment                                                           product quality.




Bosnia and Direct          Bosnia and Herzegovina SME UniCredit Zagrebacka       Credit lines to assist small and medium-sized   Bank lending    Private     1999       4,250       2,805        0           0       2,805
Herzegovina investment     framework                  Banka                      enterprises.




Bosnia and Direct          US/EBRD SME Finance           ProCredit Bank Bosnia   Equity investment to ProCredit Bank Bosnia.     Small business Private      1999       5,768          0       256           0         256
Herzegovina investment     Facility                                                                                              finance




Bosnia and Direct          Bosnia and Herzegovina SME UPI Banka                  Credit lines to assist small and medium-sized   Bank lending    Private     1999       4,034       1,650        0           0       1,650
Herzegovina investment     framework                                             enterprises.




Bosnia and Direct          Bosnia and Herzegovina SME Raiffeisen Bank            Credit lines to assist small and medium-sized   Bank lending    Private     1999       2,500       1,650        0           0       1,650
Herzegovina investment     framework                                             enterprises.




Bosnia and Direct          Regional Trade Facilitation   UPI Banka               Support for foreign trade.                      Bank lending    Private     2000         150          0         0         150         150
Herzegovina investment     Programme




   All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project             Description                                     Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Bosnia and Direct          Railways recovery               -                       Improvements to section of Pan European         Transport       State       2001      64,928      20,928        0           0      20,928
Herzegovina investment                                                             Corridor V railway.




Bosnia and Direct          Electric power reconstruction   -                       Installation of power monitoring, control and   Power and       State       2000      52,269      52,269        0           0      52,269
Herzegovina investment                                                             energy management systems.                      energy




Bosnia and Direct          US/EBRD SME Finance             ProCredit Bank Bosnia   Credit line to ProCredit Bank Bosnia for on-    Small business Private      2000      19,094       2,684        0           0       2,684
Herzegovina investment     Facility                                                lending to micro, small and medium-sized        finance
                                                                                   businesses.


Bosnia and Regional        TBIH Financial Services         -                       Expansion of insurance and pension operations   Insurance and   Private     2000       2,135        428       857           0       1,285
Herzegovina investment                                                             in central and eastern Europe.                  financial
                                                                                                                                   services


Bosnia and Direct          Raiffeisen Bank                 -                       Syndicated loan enabling bank to extend medium Bank lending     Private     2001       4,994       4,994        0           0       4,994
Herzegovina investment                                                             and long-term loans to private corporate clients




Bosnia and Direct          US/EBRD SME Finance             ProCredit Bank Bosnia   Equity investment to ProCredit Bank Bosnia.     Small business Private      2001       3,580          0       407           0         407
Herzegovina investment     Facility                                                                                                finance




Bosnia and Direct          Bosnia and Herzegovina SME UniCredit Zagrebacka         Credit lines to assist small and medium-sized   Bank lending    Private     2002       2,500       2,500        0           0       2,500
Herzegovina investment     framework                  Banka                        enterprises.




Bosnia and Direct          Bosnia and Herzegovina SME Raiffeisen Bank              Credit lines to assist small and medium-sized   Bank lending    Private     2001       2,500       2,500        0           0       2,500
Herzegovina investment     framework                                               enterprises.




Bosnia and Direct          Bosnia and Herzegovina SME UPI Banka                    Credit lines to assist small and medium-sized   Bank lending    Private     2002       2,500       2,500        0           0       2,500
Herzegovina investment     framework                                               enterprises.




Bosnia and Direct          UPI Banka                       -                       Equity investment in UPI Banka.                 Bank equity     Private     2002       7,883       5,255    2,628           0       7,883
Herzegovina investment




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project    Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Bosnia and Direct          Telekom Srpske                -              Expansion of fixed and mobile networks and         Telecoms,       State       2002       94,094     29,095        0           0      29,095
Herzegovina investment                                                  preparation for privatisation.                     informatics and
                                                                                                                           media


Bosnia and Direct          Bosnia and Herzegovina SME Volksbank         Credit lines to assist small and medium-sized      Bank lending    Private     2003        2,500      2,500        0           0       2,500
Herzegovina investment     framework                                    enterprises.




Bosnia and Regional        Marbo                         -              Regional expansion of snack food producer's        Agribusiness    Private     2003        9,831      3,900        0           0       3,900
Herzegovina investment                                                  operations.




Bosnia and Direct          Regional road development     -              Construction of Sarajevo by-pass and road          Transport       State       2004      236,000     70,000        0           0      70,000
Herzegovina investment     programme                                    connecting to Pan-European Corridor X.




Bosnia and Regional        Raiffeisen International      -              Equity investment supporting growth of            Bank equity      Private     2004       10,000         0     5,000           0       5,000
Herzegovina investment                                                  Raiffeisen International's business in Bosnia and
                                                                        Herzegovina.


Bosnia and Direct          Volksbank subordinated debt   -              Extension of credit lines to assist small and      Bank lending    Private     2003        7,500      7,500        0           0       7,500
Herzegovina investment                                                  medium-sized enterprises and local
                                                                        entrepreneurs.


Bosnia and Regional        Grand                         -              Cross-border expansion of coffee producer's        Agribusiness    Private     2003        9,500      2,750        0           0       2,750
Herzegovina investment                                                  operations and product development.




Bosnia and Direct          Direct Investment Facility    Primus         Purchase of machinery to boost production of       Manufacturing   Private     2004         780          0       780           0         780
Herzegovina investment                                                  wood, laminate and aluminium products.             and services




Bosnia and Direct          Bosnia and Herzegovina SME Raiffeisen Bank   Credit lines to assist small and medium-sized      Bank lending    Private     2003       45,000     15,000        0           0      15,000
Herzegovina investment     framework                                    enterprises.




Bosnia and Regional        Southeast Europe Equity Fund -               Equity fund investing in private funds in south-   Equity funds    Private     2005        3,624         0     3,624           0       3,624
Herzegovina investment     II                                           eastern Europe.




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project             Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Bosnia and Direct          US/EBRD SME Finance          ProCredit Bank Bosnia   Credit line to ProCredit Bank Bosnia for on-       Small business Private      2004        6,000      5,900        0           0       5,900
Herzegovina investment     Facility                                             lending to micro, small and medium-sized           finance
                                                                                businesses.


Bosnia and Direct          Bosnia and Herzegovina Air   -                       Supply of equipment and training services to       Transport       State       2006       22,700     17,000        0           0      17,000
Herzegovina investment     Traffic Management System                            improve safety.




Bosnia and Direct          Bosnia and Herzegovina SME UniCredit Zagrebacka      Credit lines to assist small and medium-sized      Bank lending    Private     2004        7,500      7,500        0           0       7,500
Herzegovina investment     framework                  Banka                     enterprises.




Bosnia and Direct          Regional Railway Project     -                       Financing of track infrastructure.                 Transport       State       2005      189,800     70,000        0           0      70,000
Herzegovina investment




Bosnia and Direct          Bosnia and Herzegovina SME UPI Banka                 Credit lines to assist small and medium-sized      Bank lending    Private     2004        5,000      5,000        0           0       5,000
Herzegovina investment     framework                                            enterprises.




Bosnia and Direct          Tvornica Opeke Sarajevo      -                       Renovation of a disused brick factory in           Manufacturing   Private     2005       14,033      6,200        0           0       6,200
Herzegovina investment                                                          Sarajevo.                                          and services




Bosnia and Direct          Power Distribution           -                       Improvement of efficiency and reliability of       Power and       State       2006       55,000     55,000        0           0      55,000
Herzegovina investment     Reconstruction                                       electricity supply by modernising three regional   energy
                                                                                electricity


Bosnia and Regional        Argus Capital Partners II    -                       Private equity fund supporting medium-sized        Equity funds    Private     2005         200          0       200           0         200
Herzegovina investment                                                          enterprises. Successor to the Argus Capital
                                                                                Partners fund.


Bosnia and Direct          Mittal Steel Zenica          -                       Energy efficiency investments and working          Manufacturing   Private     2005       20,357     20,357        0           0      20,357
Herzegovina investment                                                          capital.                                           and services




Bosnia and Direct          Natron Hayat                 -                       Renovation of facilities at paper and pulp mill,   Manufacturing   Private     2006      111,695     11,000        0           0      11,000
Herzegovina investment                                                          including restarting pulp production.              and services




   All investments 1991- 2009
                                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                     Sub project                 Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                  (€ 000)
Bosnia and Regional        European Fund for Southeast      -                           Privately managed public/private investment fund Small business Private         2006       2,000          0     2,000           0       2,000
Herzegovina investment     Europe                                                       which will provide financing for micro, small and finance
                                                                                        medium-sized businesses as well as housing
                                                                                        and rural finance in south-eastern Europe.

Bosnia and Direct          VF Komerc                        -                           Expansion of operations of local food retailer and Agribusiness     Private     2006      53,000       4,000        0           0       4,000
Herzegovina investment                                                                  upgrade of existing stores.




Bosnia and Direct          Western Balkans SME              Raiffeisen Leasing BiH      Credit line to Raiffeisen Leasing for on-lending to Insurance and   Private     2006      10,000      10,000        0           0      10,000
Herzegovina investment     Finance Facility                                             small and medium-sized businesses.                  financial
                                                                                                                                            services


Bosnia and Direct          Bijeljina waste-water collection -                           Construction of waste-water collection network to Municipal and     State       2007       7,000       7,000        0           0       7,000
Herzegovina investment     system                                                       prevent pollution of the aquifer.                 environmental
                                                                                                                                          infrastructure


Bosnia and Direct          Western Balkans MSME             Mikrofin                    Credit line for on-lending to micro, small and      Small business Private      2006       8,000       8,000        0           0       8,000
Herzegovina investment     Framework                                                    medium-sized businesses.                            finance




Bosnia and Direct          Western Balkans MSME             Mikrokreditna Organizacija Credit line for on-lending to micro, small and       Small business Private      2006       6,000       6,000        0           0       6,000
Herzegovina investment     Framework                        EKI                        medium-sized businesses.                             finance




Bosnia and Regional        Balkan Accession Fund            -                           Finance provided to a private equity fund           Equity funds    Private     2006       5,245          0     1,120           0       1,120
Herzegovina investment                                                                  investing in medium-sized businesses.




Bosnia and Regional        Europolis III                    -                           Equity investment allowing the creation of a        Property and    Private     2006       7,425        630       945           0       1,575
Herzegovina investment                                                                  regional portfolio of property assets in Bosnia     tourism
                                                                                        and Herzegovina, Bulgaria, FYR Macedonia,
                                                                                        Montenegro, Romania, Russia, Serbia and
                                                                                        Ukraine.
Bosnia and Direct          Raiffeisen Bank                  -                           Loan to allow medium and long-term loans to         Bank lending    Private     2006      20,000      20,000        0           0      20,000
Herzegovina investment                                                                  corporate clients.




Bosnia and Regional        GS Hotels and Resort (Loan)      -                           Loan to leading local hospitality group, based in   Property and    Private     2007      10,756       3,236        0           0       3,236
Herzegovina investment                                                                  Dubrovnik.                                          tourism




   All investments 1991- 2009
                                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project                  Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Bosnia and Direct          VF Komerc                     -                            Expansion of operations of local food retailer and Agribusiness    Private     2006        6,000         0     6,000           0       6,000
Herzegovina investment                                                                upgrade of existing stores.




Bosnia and Direct          Western Balkans MSME          Partner                      Credit line for on-lending to micro and small     Small business Private       2007        8,000      8,000        0           0       8,000
Herzegovina investment     Framework                                                  businesses.                                       finance




Bosnia and Direct          Western Balkans MSME          Sunrise                      Credit line for on-lending to micro and small     Small business Private       2007        4,000      4,000        0           0       4,000
Herzegovina investment     Framework                                                  businesses.                                       finance




Bosnia and Direct          Primary road network upgrade Bosnia and Herzegovina      Upgrade and reconstruction of sections of the       Transport        State       2007      230,500     75,000        0           0      75,000
Herzegovina investment                                  Road Rehabilitation Project primary road network.




Bosnia and Direct          ISO and TRANSCO               -                            Supply and installation of electricity transmission Power and      State       2007       15,931     15,931        0           0      15,931
Herzegovina investment                                                                system that will facilitate power trade in the      energy
                                                                                      region.


Bosnia and Direct          Western Balkans Local         VF Komerc                    Long-term loan to finance real estate operations. Agribusiness     Private     2007        4,000      4,000        0           0       4,000
Herzegovina investment     Enterprise Facility




Bosnia and Direct          Uniqa Osiguranje              -                            Acquisition of a 20 per cent equity stake in Uniqa Insurance and   Private     2007        1,600         0     1,600           0       1,600
Herzegovina investment                                                                Osiguranje Bosnia.                                 financial
                                                                                                                                         services


Bosnia and Direct          Western Balkans Local         Suica Terni                  Construction of a greenfield plant for the        Manufacturing    Private     2007        1,250      1,125        0           0       1,125
Herzegovina investment     Enterprise Facility                                        production of wood pellets.                       and services




Bosnia and Regional        GS Hotels and Resorts         -                            Equity investment in local hospitality group.     Property and     Private     2007       10,030         0     2,510           0       2,510
Herzegovina investment     (Equity)                                                                                                     tourism




Bosnia and Direct          Western Balkans MSME          Microcredit organisation MI- Credit line for on-lending to micro and small     Small business Private       2007        3,000      3,000        0           0       3,000
Herzegovina investment     Framework                     Bospo                        businesses.                                       finance




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project          Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Bosnia and Direct          Western Balkans MSME          Prizma microcredit   Credit line for on-lending to small and medium-   Small business Private       2007        4,000      4,000        0           0       4,000
Herzegovina investment     Framework                     organisation         sized businesses.                                 finance




Bosnia and Regional        ViaOne                        -                    Equity investment to support the commercial       Telecoms,       Private      2008        1,694         0     1,000           0       1,000
Herzegovina investment                                                        launch and development of ViaOne Europa           informatics and
                                                                              Holding's software platforms.                     media


Bosnia and Direct          Corridor Vc                   -                    Loan to finance construction of key sections of   Transport        State       2008      605,000    180,000        0           0     180,000
Herzegovina investment                                                        trans-European motorway.




Bosnia and Direct          Western Balkans MSME          Sunrise II           Facilitates access to finance for smaller business Small business Private      2008        3,000      3,000        0           0       3,000
Herzegovina investment     Framework                                          clients.                                           finance




Bosnia and Direct          Western Balkans MSME          EKI                  Loan to the third largest microfinance            Small business Private       2008        6,000      6,000        0           0       6,000
Herzegovina investment     Framework                                          organisation in Bosnia and Herzegovina to         finance
                                                                              improve access to finance.


Bosnia and Direct          Raiffeisen Leasing            -                    Support to increase the availability of lease      Insurance and   Private     2008       10,000     10,000        0           0      10,000
Herzegovina investment                                                        financing at longer maturities for the purchase of financial
                                                                              fixed assets by small and medium-sized             services
                                                                              enterprises.

Bosnia and Regional        CEE Special Situations Fund   CRG Capital          Investment in an equity fund managed by CRG       Equity funds     Private     2009         600          0       600           0         600
Herzegovina investment                                                        Partners targeting distressed and under-
                                                                              performing companies.


Bosnia and Direct          Western Balkans Local         Bimal                Support for an oil producing company.             Agribusiness     Private     2008       10,000      8,375        0           0       8,375
Herzegovina investment     Enterprise Facility




Bosnia and Direct          Raiffeisen Bank               -                    To increase the availability of small and medium- Bank lending     Private     2008       30,000     30,000        0           0      30,000
Herzegovina investment                                                        sized enterprises financing with longer maturities.




Bosnia and Direct          Western Balkans and Croatia   MI-BOSPO             Long-term loan to existing client to improve      Small business Private       2008        3,000      3,000        0           0       3,000
Herzegovina investment     Financing Framework                                access to finance for entrepreneurs.              finance




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project                Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Bosnia and Regional        Western Balkans Local         Lydian International       Exploration and development of zinc, lead, silver Natural          Private     2009       1,173          0       364           0         364
Herzegovina investment     Enterprise Facility                                      and gold deposits in the Western Balkans.         Resources




Bosnia and Regional        European Fund for SouthEast -                            Support to financial institutions for on-lending to Small business Private     2009      11,550          0     1,650           0       1,650
Herzegovina investment     Europe II                                                MSMEs, as well as for housing and rural finance. finance




Bosnia and Direct          Western Balkans and Croatia   Partner II                 Support for the financial sector while promoting   Small business Private      2008      10,000      10,000        0           0      10,000
Herzegovina investment     Financing Framework                                      adherence to best practices in corporate           finance
                                                                                    governance.


Bosnia and Direct          Western Balkans MSME          Intesa SanPaolo Banka      Support for the financial sector and promoting     Bank equity     Private     2008       1,434       1,434        0           0       1,434
Herzegovina investment     Framework                                                adherence to best practices in corporate
                                                                                    governance and strengthening financial
                                                                                    discipline.

Bosnia and Direct          Western Balkans Sustainable   Raiffeisen Bank BiH        Credit line for on-lending to energy efficiency    Bank lending    Private     2009      10,000       2,000        0           0       2,000
Herzegovina investment     Energy Finance Facililty                                 projects.




Bosnia and Direct          Konzum BiH                    -                          Loan to support retail network expansion and       Agribusiness    Private     2009      56,999      25,000        0           0      25,000
Herzegovina investment                                                              balance sheet restructuring.




Bosnia and Direct          Unicredit Bank                -                          Credit line for on-lending to small and medium-    Bank lending    Private     2009      30,000      30,000        0           0      30,000
Herzegovina investment                                                              sized enterprises.




Bosnia and Direct          Unicredit Group               Unicredit Leasing Bosnia   Medium and long-term debt financing in support     Insurance and   Private     2009      15,000      15,000        0           0      15,000
Herzegovina investment                                                              of SMEs, lease finance and energy efficiency       financial
                                                                                    projects.                                          services


Bosnia and Direct          Mahovljani Interchange        -                          A loan to Republika Srpska Motorways to finance Transport          State       2009      33,700      21,000        0           0      21,000
Herzegovina investment                                                              construction of the Mahovljani interchange.




Bosnia and Regional        Southeast Europe Energy       -                          Financing for energy efficiency projects through   Insurance and   Private     2009       9,488          0     2,500           0       2,500
Herzegovina investment     Efficiency Fund (SE4F)                                   local financial institutions.                      financial
                                                                                                                                       services




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Bulgaria    Direct         Bulgaria wholesale market     -             Development of agricultural wholesale and           Agribusiness     State       1995       37,185      3,202        0           0       3,202
            investment                                                 farmers’ markets in Sofia, Sliven, Stara Zagora
                                                                       and Plovdiv.


Bulgaria    Direct         Bulgarian Telecommunications -              Modernisation of telecommunications facilities,       Telecoms,       State      1992      185,563     32,000        0           0      32,000
            investment     Company                                     including installation of line units and construction informatics and
                                                                       of a transit network.                                 media


Bulgaria    Direct         Maritza East II               -             Completion of Unit No.8 at power plant and          Power and        State       1992      199,112     39,857        0           0      39,857
            investment                                                 retrofit of sulphur dioxide removal equipment.      energy




Bulgaria    Direct         Transit roads                 -             Construction of 32 km section of the Trans-         Transport        State       1993       78,095     29,818        0           0      29,818
            investment                                                 European Motorway.




Bulgaria    Regional       Euromerchant Balkan Fund      -             Equity investment in venture capital fund           Equity funds     Private     1994        3,629         0     3,629           0       3,629
            investment                                                 supporting small and medium-sized private joint
                                                                       ventures.


Bulgaria    Direct         Delta Dairy                   -             Equity investment in ice cream production facility. Agribusiness     Private     1994        8,708      3,340        0           0       3,340
            investment




Bulgaria    Direct         Railway restructuring         -             Modernisation of railway and facilitation of        Transport        State       1995      228,387     30,863        0           0      30,863
            investment                                                 institutional development programme.




Bulgaria    Direct         International Commercial Bank -             Equity investment in International Commercial       Bank equity      Private     1993         964          0       964           0         964
            investment                                                 Bank.




Bulgaria    Direct         Danone Serdika                -             Upgrade of yoghurt production plant and             Agribusiness     Private     1994        5,914         0     1,245           0       1,245
            investment                                                 introduction of new products.




Bulgaria    Direct         Eurovision                    -             Design, supply and installation of earth station    Telecoms,       State        1992         694        694         0           0         694
            investment                                                 linked to the Eurovision Network via satellite.     informatics and
                                                                                                                           media




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Bulgaria    Direct         BNP-Paribas Bulgaria          -             Equity investment in subsidiary of BNP and         Bank equity     Private     1994        7,466         0     1,266           0       1,266
            investment                                                 Banque Paribas.




Bulgaria    Direct         Caresbac Bulgaria             -             Equity investment in Bulgarian small business      Equity funds    Private     1994        7,987         0     1,746           0       1,746
            investment                                                 investment company, focusing on the
                                                                       agribusiness sector.


Bulgaria    Regional       MBA loan project              -             Financial support for students undertaking MBA     Bank lending    Private     1995        2,557       815         0         611       1,427
            investment                                                 degrees at top-tier business schools.




Bulgaria    Direct         Danone Serdika                -             Investment in dairy, confectionery and mineral     Agribusiness    Private     1996        2,020         0     1,158           0       1,158
            investment                                                 water companies.




Bulgaria    Direct         First Investment Bank         -             Financing for small and medium-sized               Bank lending    Private     1996        4,161      4,161        0           0       4,161
            investment                                                 enterprises.




Bulgaria    Direct         United Bulgarian Bank         -             Equity investment of up to 35 per cent, enabling   Bank equity     Private     1997      245,639     11,402   22,805           0      34,207
            investment                                                 privatisation of the bank.




Bulgaria    Direct         Astera                        -             Privatisation and modernisation of leading         Manufacturing   Private     1996       12,969      6,935        0           0       6,935
            investment                                                 cosmetics producer.                                and services




Bulgaria    Direct         BNP-Paribas Bulgaria          -             Equity investment in subsidiary of BNP and         Bank equity     Private     1995        3,209         0       664           0         664
            investment                                                 Banque Paribas.




Bulgaria    Direct         International Commercial Bank -             Equity investment in International Commercial      Bank equity     Private     1995        2,337         0       971           0         971
            investment                                                 Bank.




Bulgaria    Direct         Storco                        -             Upgrade of food-processing facilities,             Agribusiness    Private     1996       22,406      3,776    3,776           0       7,553
            investment                                                 restructuring of operations and improvement of
                                                                       raw material supplies.




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Bulgaria    Direct         Sofia district heating        -             Upgrade of distribution network and                Municipal and    State       2002       88,297     14,297        0           0      14,297
            investment     rehabilitation                              improvement of financial, commercial and           environmental
                                                                       environmental performance of company.              infrastructure


Bulgaria    Direct         First Investment Bank         -             Subscription of newly issued shares, bringing      Bank equity      Private     1997        3,647         0     3,647           0       3,647
            investment                                                 total investment to 20 per cent.




Bulgaria    Direct         Sofia water system            -             Improvement of water and waste-water services, Municipal and        Private     2000      146,761     39,113        0           0      39,113
            investment     concession                                  addressing leakage, drinking water quality and environmental
                                                                       effluent standards.                            infrastructure


Bulgaria    Direct         Sodi privatisation            -             Privatisation of soda ash producer.                Manufacturing    Private     1997      186,559     55,482        0           0      55,482
            investment                                                                                                    and services




Bulgaria    Direct         BNP-Paribas Bulgaria          -             Equity investment in subsidiary of BNP and         Bank equity      Private     1997         728          0       156           0         156
            investment                                                 Banque Paribas.




Bulgaria    Direct         International Commercial Bank -             Equity investment in International Commercial      Bank equity      Private     1997        5,380         0       271           0         271
            investment                                                 Bank.




Bulgaria    Direct         Danone Serdika                -             Investment in dairy, confectionery and mineral     Agribusiness     Private     1997        4,099         0     1,504           0       1,504
            investment                                                 water companies.




Bulgaria    Direct         Chelopech Mining              -             Environmental improvements, refurbishment,         Natural          Private     2005      111,380     17,338        0           0      17,338
            investment                                                 modernisation and expansion of the Chelopech       Resources
                                                                       Gold Copper mine and processing plant.


Bulgaria    Regional       Black Sea Fund                -             Equity investment in medium-sized local            Equity funds     Private     1998       17,062         0     6,867           0       6,867
            investment                                                 enterprises and facilitation of foreign direct
                                                                       investment in the region.


Bulgaria    Direct         Domaine Boyar AD              -             Modernisation and expansion of production            Agribusiness   Private     1998       50,402     15,587    5,196           0      20,782
            investment                                                 facilities at two existing wineries and construction
                                                                       of a third “greenfield” winery.




   All investments 1991- 2009
                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project   Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                              (€ 000)
Bulgaria    Direct         BNP-Paribas Bulgaria         -             Equity investment in subsidiary of BNP and        Bank equity     Private     1997        3,981         0       790           0         790
            investment                                                Banque Paribas.




Bulgaria    Regional       AIG New Europe Fund          -             Private equity fund investing in central and      Equity funds    Private     1999       11,686         0     2,303           0       2,303
            investment                                                eastern Europe.




Bulgaria    Regional       Central and Eastern Europe   -             Investment in private sector projects in power    Power and       Private     1999        1,429         0       436           0         436
            investment     Power Fund                                 generation, transmission and district heating.    energy




Bulgaria    Direct         Isiklar/Celhart              -             Modernisation of kraft paper and sack production Manufacturing    Private     1998       31,441      8,393    2,798           0      11,190
            investment                                                facilities.                                      and services




Bulgaria    Direct         Maritza East III             -             Upgrade of lignite-fired power plant to improve   Power and       Private     2003      707,986     28,005        0           0      28,005
            investment                                                environmental standards.                          energy




Bulgaria    Direct         Bulgarian SME and tourism    -             Credit line to assist small and medium-sized      Bank lending    Private     2000        5,100      5,100        0           0       5,100
            investment     framework facility                         enterprises in tourism and associated sectors.




Bulgaria    Regional       MBA loan project             -             Financial support for students undertaking MBA    Bank lending    Private     1998         551        115         0         115         230
            investment                                                degrees at top-tier business schools.




Bulgaria    Direct         Bulgarian transmission       -             Restructuring and commercialisation of Bulgarian Power and        State       2002      156,450     40,870        0           0      40,870
            investment     network                                    power sector.                                    energy




Bulgaria    Direct         Bulgaria wholesale market    -             Development of agricultural wholesale and         Agribusiness    State       1999       23,503      6,858        0           0       6,858
            investment                                                farmers’ markets in Sofia, Sliven, Stara Zagora
                                                                      and Plovdiv.


Bulgaria    Direct         Bulgarian Insurance and      -             Equity investment in insurance and pension        Insurance and   Private     1999       13,646         0     5,315           0       5,315
            investment     Pension (BIP)                              company.                                          financial
                                                                                                                        services




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                   Sub project   Description                                         Sector          Portfolio   Year of       Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing     project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Bulgaria    Direct         First Investment Bank          -             Financing for small and medium-sized                Bank lending    Private     1999        15,000       5,000        0           0       5,000
            investment                                                  enterprises.




Bulgaria    Direct         EU/EBRD SME Finance            Unionbank     Financing for small and medium-sized                Bank lending    Private     2000         6,000       6,000        0           0       6,000
            investment     Facility                                     enterprises.




Bulgaria    Regional       Private Equity Fund Facility   Trigranit     Equity investment in leading commercial property Property and       Private     1999         3,267          0       680           0         680
            investment                                                  developer and operator.                          tourism




Bulgaria    Direct         BNP-Paribas Bulgaria           -             Equity investment in subsidiary of BNP and          Bank equity     Private     2000         2,045          0     2,045           0       2,045
            investment                                                  Banque Paribas.




Bulgaria    Direct         Bulgaria Grain Receipts        Expressbank   Financing for agribusiness sector using grain       Bank lending    Private     2000           529        529         0           0         529
            investment     Programme                                    receipts.




Bulgaria    Direct         Isiklar/Celhart                -             Modernisation of kraft paper and sack production Manufacturing      Private     2000        20,459       6,589        0           0       6,589
            investment                                                  facilities.                                      and services




Bulgaria    Direct         Maritza East I Power           -             Construction of a lignite-fired power plant.        Power and       Private     2005      1,174,600     96,000        0           0      96,000
            investment     Company                                                                                          energy




Bulgaria    Direct         Rila Solutions                 -             Provision of early-stage capital for internet and   Telecoms,       Private     2000         7,359          0     3,198           0       3,198
            investment                                                  wireless solutions company.                         informatics and
                                                                                                                            media


Bulgaria    Regional       TBIH Financial Services        -             Expansion of insurance and pension operations       Insurance and   Private     2000        10,372       2,081    4,162           0       6,243
            investment                                                  in central and eastern Europe.                      financial
                                                                                                                            services


Bulgaria    Direct         Balkanpharma                   -             Modernisation of pharmaceutical production          Manufacturing   Private     2001        23,315      12,115        0           0      12,115
            investment                                                  facilities.                                         and services




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                     Sub project      Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Bulgaria    Direct         Direct Investment Facility       Babylon          Direct investment in pharmaceutical distribution   Manufacturing    Private     2001         514          0       514           0         514
            investment                                                       company.                                           and services




Bulgaria    Direct         EU/EBRD SME Finance              Hebros Bank      Financing for small and medium-sized               Bank lending     Private     2001       6,000       6,000        0           0       6,000
            investment     Facility                                          enterprises.




Bulgaria    Regional       Innova/3                         -                Private equity fund supporting small and medium- Equity funds       Private     2001       9,416          0     1,116           0       1,116
            investment                                                       sized enterprises.




Bulgaria    Direct         Storco divestment                -                Divestment in food processing company.             Agribusiness     Private     1996         208        208         0           0         208
            investment




Bulgaria    Direct         Sofia public transport project   -                Refurbishment of trams, purchase of new buses      Municipal and    State       2002      40,311      16,710        0           0      16,710
            investment                                                       and development of transport control system.       environmental
                                                                                                                                infrastructure


Bulgaria    Regional       Europolis                        -                Development of regional real estate portfolio of   Property and     Private     2001      77,662      10,500   15,750           0      26,250
            investment                                                       15 to 20 property assets.                          tourism




Bulgaria    Direct         Bulgaria Grain Receipts          Unionbank        Financing for agribusiness sector using grain      Bank lending     Private     2001       1,559       1,559        0           0       1,559
            investment     Programme                                         receipts.




Bulgaria    Direct         US/EBRD SME Finance              ProCredit Bank   Equity investment in ProCredit Bank Bulgaria and Small business Private         2001      19,736       3,170    1,057           0       4,227
            investment     Facility                                          financing for micro and small enterprises.       finance




Bulgaria    Direct         Unionbank                        -                Acquisition of 15 per cent equity stake in bank    Bank equity      Private     2002       3,934          0     3,597           0       3,597
            investment                                                       supporting small and medium-sized enterprises.




Bulgaria    Direct         Maritza East II environmental    -                Installation of “scrubbers” in thermal power plant Power and        State       2004      80,300      22,000        0           0      22,000
            investment     loan                                              to reduce sulphur dioxide emissions.               energy




   All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project                Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Bulgaria    Direct         Bulgarian Telecom Mezzanine -                           Facility supporting Advent International’s          Telecoms,       Private     2004      118,000     43,949        0           0      43,949
            investment     Co-investment Facility                                  purchase of a 65 per cent stake in Bulgarian        informatics and
                                                                                   Telecom.                                            media


Bulgaria    Regional       Black Sea Fund               -                          Equity investment in medium-sized local             Equity funds    Private     2002        8,274         0     2,518           0       2,518
            investment                                                             enterprises and facilitation of foreign direct
                                                                                   investment in the region.


Bulgaria    Direct         Paper Factory Stambolijski   -                          Acquisition of paper and sack production assets     Manufacturing   Private     2002       36,311     12,417    6,209           0      18,626
            investment     (PFS)                                                   of Celhart.                                         and services




Bulgaria    Direct         Boliari                      -                          Expansion of supermarket operations in Varna        Agribusiness    Private     2004       14,500      9,000    1,500           0      10,500
            investment                                                             and Bourgas.




Bulgaria    Regional       Billa                        -                          Expansion of supermarket chain.                     Agribusiness    Private     2003       53,910      6,750        0           0       6,750
            investment




Bulgaria    Direct         EU/EBRD SME Finance          United Bulgarian Bank      Financing for small and medium-sized                Bank lending    Private     2002       20,000     20,000        0           0      20,000
            investment     Facility                                                enterprises.




Bulgaria    Direct         EU/EBRD SME Finance          DSK Bank                   Credit lines for on-lending to small and medium-    Bank lending    Private     2004       10,000     10,000        0           0      10,000
            investment     Facility                                                sized businesses.




Bulgaria    Direct         EU/EBRD SME Finance          Raiffeisen Bank Bulgaria   Financing for small and medium-sized                Bank lending    Private     2002       10,000      3,500        0           0       3,500
            investment     Facility                                                enterprises.




Bulgaria    Regional       Heitman Central Europe       -                          Investment in property projects, primarily office   Property and    Private     2002        7,547         0     2,450           0       2,450
            investment     Property Partners Fund                                  buildings, warehousing/distribution and retail      tourism
                                                                                   shopping centres.


Bulgaria    Regional       EU/EBRD SME Finance          Global Growth Fund         Financing for small and medium-sized                Equity funds    Private     2003       10,375         0     3,250           0       3,250
            investment     Facility                                                enterprises.




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project      Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Bulgaria    Direct         Bulgarian Post Bank mortgage -                Credit line providing long-term mortgage loans.   Bank lending     Private     2003       15,000     15,000        0           0      15,000
            investment     line




Bulgaria    Direct         US/EBRD SME Finance          ProCredit Bank   Equity investment in ProCredit Bank Bulgaria and Small business Private        2003        6,136         0     1,227           0       1,227
            investment     Facility                                      financing for micro and small enterprises.       finance




Bulgaria    Regional       Raiffeisen International     -                Equity investment supporting growth of            Bank equity      Private     2004       10,000         0     5,000           0       5,000
            investment                                                   Raiffeisen International's business in Bosnia and
                                                                         Herzegovina.


Bulgaria    Direct         Bulgarian Telecommunications -                Privatisation of Bulgarian fixed-line             Telecoms,       Private      2003      138,000         0    13,000           0      13,000
            investment     Company                                       telecommunications operator.                      informatics and
                                                                                                                           media


Bulgaria    Regional       International Water United   -                Acquisition of three water utility companies.     Municipal and    Private     2003       13,688         0     4,988           0       4,988
            investment     Utilities                                                                                       environmental
                                                                                                                           infrastructure


Bulgaria    Regional       TUI advance payments         -                Upgrade and expansion of hotels in Bulgaria.      Property and     Private     2003       33,210     33,210        0           0      33,210
            investment                                                                                                     tourism




Bulgaria    Direct         Opet-Aygaz Bulgaria          -                Expansion of operations through the acquisition   Natural          Private     2003       73,300     20,000        0           0      20,000
            investment                                                   of petrol stations and investment in greenfield   Resources
                                                                         sites.


Bulgaria    Regional       Polish Enterprise Fund V     -                Private equity fund investing in enterprises in   Equity funds     Private     2004        4,650         0     4,650           0       4,650
            investment                                                   Bulgaria.




Bulgaria    Regional       Advent Central and Eastern   -                Private equity fund investing in Bulgaria.        Equity funds     Private     2004       49,571         0     7,500           0       7,500
            investment     Europe Successor Fund




Bulgaria    Direct         TBI AD                       -                Restructuring of insurance and pension provider. Insurance and     Private     2003       15,252      7,626    7,626           0      15,252
            investment                                                                                                    financial
                                                                                                                          services




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project      Description                                        Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Bulgaria    Direct         TBIF Bulgaria AD             -                Restructuring of insurance and pension provider. Insurance and    Private     2003         917          0       917           0         917
            investment                                                                                                    financial
                                                                                                                          services


Bulgaria    Direct         Herfstzon                    -                Restructuring of insurance and pension provider. Insurance and    Private     2003       4,828       4,828        0           0       4,828
            investment                                                                                                    financial
                                                                                                                          services


Bulgaria    Regional       Southeast Europe Equity Fund -                Equity fund investing in private funds in south-   Equity funds   Private     2005       7,247          0     7,247           0       7,247
            investment     II                                            eastern Europe.




Bulgaria    Direct         Energy efficiency and        UBB              Credit lines to UBB for on-lending to industrial   Bank lending   Private     2004      25,000      25,000        0           0      25,000
            investment     renewable energy facility                     energy efficiency and small renewable energy
                                                                         projects.


Bulgaria    Direct         Energy efficiency and        BPB              Credit lines to BPB for on-lending to industrial   Bank lending   Private     2004      15,000      10,000        0           0      10,000
            investment     renewable energy facility                     energy efficiency and small renewable energy
                                                                         projects.


Bulgaria    Direct         US/EBRD SME Finance          ProCredit Bank   Equity investment in ProCredit Bank Bulgaria and Small business Private       2004      14,076       3,515    3,515           0       7,030
            investment     Facility                                      financing for micro and small enterprises.       finance




Bulgaria    Direct         Burgas Water Company         -                Upgrading and expansion of the Burgas regional Municipal and      State       2005      21,100      11,000        0           0      11,000
            investment                                                   water company’s infrastructure.                environmental
                                                                                                                        infrastructure


Bulgaria    Regional       Migros Foodstores Skopje     -                Expansion of retailer’s operations in Bulgaria and Agribusiness   Private     2004         157        102         0           0         102
            investment                                                   FYR Macedonia.




Bulgaria    Direct         North-eastern Bulgaria       -                Support for the privatisation of two electricity   Power and      Private     2005      16,800      16,800        0           0      16,800
            investment     electricity distribution                      distribution companies.                            energy
                           companies


Bulgaria    Direct         EU/EBRD SME Finance          Hebros Bank      Credit lines for on-lending to small and medium-   Bank lending   Private     2004       6,000       6,000        0           0       6,000
            investment     Facility                                      sized businesses.




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project                Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Bulgaria    Direct         Energy efficiency and       Unionbank                  Credit lines to Unionbank for on-lending to        Bank lending     Private     2004       8,000       8,000        0           0       8,000
            investment     renewable energy facility                              industrial energy efficiency and small renewable
                                                                                  energy projects.


Bulgaria    Direct         EU/EBRD Rural Finance       UBB                        Credit line for on-lending to small and medium-    Bank lending     Private     2004      10,000      10,000        0           0      10,000
            investment     Facility                                               sized agribusinesses.




Bulgaria    Direct         Energy efficiency and       Biochim                    Credit lines to Biochim for on-lending to industrial Bank lending   Private     2004       7,000       7,000        0           0       7,000
            investment     renewable energy facility                              energy efficiency and small renewable energy
                                                                                  projects.


Bulgaria    Direct         EU/EBRD SME Finance         Hebros Leasing II          Credit line for on-lending to small and medium-    Insurance and    Private     2006       5,000       5,000        0           0       5,000
            investment     Facility                                               sized businesses.                                  financial
                                                                                                                                     services


Bulgaria    Regional       Europolis II                -                          Development of commercial property projects.       Property and     Private     2004      34,325       3,247    4,330           0       7,577
            investment                                                                                                               tourism




Bulgaria    Direct         EU/EBRD SME Finance         Hebros Leasing             Credit line for on-lending to small and medium-    Insurance and    Private     2004       5,000       5,000        0           0       5,000
            investment     Facility                                               sized businesses.                                  financial
                                                                                                                                     services


Bulgaria    Direct         Energy efficiency and       DSK Bank                   Credit lines to DSK Bank for on-lending to         Bank lending     Private     2004      10,000      10,000        0           0      10,000
            investment     renewable energy facility                              industrial energy efficiency and small renewable
                                                                                  energy projects.


Bulgaria    Direct         EU/EBRD SME Finance         Bulgarian-American Credit Credit lines for on-lending to small and medium-    Bank lending     Private     2004       5,000       5,000        0           0       5,000
            investment     Facility                    Bank                      sized businesses.




Bulgaria    Direct         Belvedere                   -                          Investment in wine producer to strengthen          Agribusiness     Private     2005      28,101       7,714    1,286           0       9,000
            investment                                                            operations and increase export sales.




Bulgaria    Direct         Bulgarian Telecom Mezzanine -                          Facility supporting Advent International’s         Telecoms,       Private      2004      98,096      36,536        0           0      36,536
            investment     Co-investment Facility                                 purchase of a 65 per cent stake in Bulgarian       informatics and
                                                                                  Telecom.                                           media




   All investments 1991- 2009
                                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project               Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Bulgaria    Direct         Bulgarian Telecom Mezzanine -                             Facility supporting Advent International’s         Telecoms,       Private      2004      40,000       3,500        0           0       3,500
            investment     Co-investment Facility                                    purchase of a 65 per cent stake in Bulgarian       informatics and
                                                                                     Telecom.                                           media


Bulgaria    Direct         Energy efficiency and           Bulbank                   Credit lines to Bulbank for on-lending to industrial Bank lending   Private     2004      10,000      10,000        0           0      10,000
            investment     renewable energy facility                                 energy efficiency and small renewable energy
                                                                                     projects.


Bulgaria    Direct         Sunny Travel                    -                         Completion of Hermitage Grand Hotel in Golden Property and          Private     2005      37,563      12,188        0           0      12,188
            investment                                                               Sands.                                        tourism




Bulgaria    Regional       Global Property Fund            -                         Equity investment in property.                     Property and     Private     2005      45,000          0    10,350           0      10,350
            investment                                                                                                                  tourism




Bulgaria    Direct         Sviloza pulp mill               -                         Increase in production, improvements in energy Manufacturing        Private     2005      28,000      18,000        0           0      18,000
            investment                                                               efficiency and compliance with EU environmental and services
                                                                                     standards.


Bulgaria    Direct         Residential energy efficiency   UBB                       Credit line for residential energy efficiency      Bank lending     Private     2005       5,113       5,113        0           0       5,113
            investment     credit line                                               improvements.




Bulgaria    Direct         Residential energy efficiency   Bulbank                   Energy efficiency investment.                      Bank lending     Private     2006       2,500       2,500        0           0       2,500
            investment     credit line




Bulgaria    Direct         Residential energy efficiency   DSK Bank                  Credit line for residential energy efficiency      Bank lending     Private     2005      10,000      10,000        0           0      10,000
            investment     credit line                                               improvements.




Bulgaria    Regional       Argus Capital Partners II       -                         Private equity fund supporting medium-sized        Equity funds     Private     2005       3,000          0     3,000           0       3,000
            investment                                                               enterprises. Successor to the Argus Capital
                                                                                     Partners fund.


Bulgaria    Direct         Residential energy efficiency   Raiffeisenbank Bulgaria   Credit line for residential energy efficiency      Bank lending     Private     2005      10,000      10,000        0           0      10,000
            investment     credit line                                               improvements.




   All investments 1991- 2009
                                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project                 Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                 (€ 000)
Bulgaria    Direct         Vez Svoghe                      -                           Financing the construction of nine small hydro     Power and        Private     2007      101,802     34,001        0           0      34,001
            investment                                                                 power plants.                                      energy




Bulgaria    Direct         Residential energy efficiency   Post Bank                   Credit line for residential energy efficiency      Bank lending     Private     2005        5,000      5,000        0           0       5,000
            investment     credit line                                                 improvements.




Bulgaria    Direct         EU/EBRD SME Finance             SG Expressbank              Credit line for on-lending to small and medium-    Bank lending     Private     2006       10,022     10,022        0           0      10,022
            investment     Facility                                                    sized businesses.




Bulgaria    Direct         EU/EBRD SME Finance             Union Leasing               Credit line for on-lending to small and medium-    Insurance and    Private     2005        3,000      3,000        0           0       3,000
            investment     Facility                                                    sized businesses.                                  financial
                                                                                                                                          services


Bulgaria    Direct         Rousse Water                    -                           Upgrades to improve financial and operational      Municipal and    State       2006       54,800      8,000        0           0       8,000
            investment                                                                 performance of a regional water company.           environmental
                                                                                                                                          infrastructure


Bulgaria    Regional       Emerging Europe                 -                           Direct equity fund investing in central and eastern Equity funds    Private     2005        6,000         0     6,000           0       6,000
            investment     Convergence Fund II                                         Europe.




Bulgaria    Direct         EU/EBRD SME Finance             Raiffeisen Leasing Bulgaria Credit line for on-lending to small and medium-    Insurance and    Private     2006       20,000     20,000        0           0      20,000
            investment     Facility                                                    sized businesses.                                  financial
                                                                                                                                          services


Bulgaria    Regional       7L Capital Partners             -                           Regional private equity fund investing primarily in Equity funds    Private     2006       14,700         0     6,000           0       6,000
            investment                                                                 south-eastern Europe.




Bulgaria    Regional       European Fund for Southeast     -                           Privately managed public/private investment fund Small business Private         2006        2,000         0     2,000           0       2,000
            investment     Europe                                                      which will provide financing for micro, small and finance
                                                                                       medium-sized businesses as well as housing
                                                                                       and rural finance in south-eastern Europe.

Bulgaria    Direct         Golden Yavor                    -                           Finance for the construction of a 250-room self    Property and     Private     2005        4,992      2,496        0           0       2,496
            investment                                                                 catering hotel.                                    tourism




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name               Sub project             Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Bulgaria    Regional       SigmaBleyzer Southeast     -                       Private equity fund.                                 Equity funds     Private     2005       5,000          0     5,000           0       5,000
            investment     European Fund IV CV




Bulgaria    Direct         EU/EBRD SME Finance        Allianz Bulgaria Bank   Credit line for on-lending to small and medium-      Bank lending     Private     2006      10,000      10,000        0           0      10,000
            investment     Facility                                           sized businesses.




Bulgaria    Regional       SG AM Eastern Europe       -                       Investment in consumer services and                  Equity funds     Private     2005       1,080          0       600           0         600
            investment                                                        manufacturing companies.




Bulgaria    Direct         Boni                       -                       Improve quality of output and efficiency of local    Agribusiness     Private     2006      50,191      15,000        0           0      15,000
            investment                                                        meat-processing company.




Bulgaria    Regional       Bluehouse equity fund      -                       Equity investment in Bluehouse Accession         Property and         Private     2006       7,627          0     1,250           0       1,250
            investment                                                        Property, a fund acquiring, developing,          tourism
                                                                              renovating, owning and managing property in
                                                                              Bulgaria, Croatia, Moldova, Romania, Serbia and
                                                                              Ukraine.
Bulgaria    Regional       Global Finance SEE Fund    -                       Regional private equity fund investing in south- Equity funds         Private     2007      19,252          0    19,212           0      19,212
            investment                                                        eastern Europe.




Bulgaria    Regional       GED Eastern Fund II        -                       Private equity fund investing in small and           Equity funds     Private     2006      28,000          0     8,000           0       8,000
            investment                                                        medium-sized businesses primarily in Bulgaria,
                                                                              Hungary and Romania.


Bulgaria    Regional       BSR Europe Co-Investment   -                       Equity investment in a company developing              Property and   Private     2006      11,000          0     3,850           0       3,850
            investment     Facility                                           office, retail, residential and industrial real estate tourism
                                                                              in Bulgaria.


Bulgaria    Regional       Alpha CEE II               -                       Diversified regional private equity fund dedicated Equity funds       Private     2006       2,500          0     2,500           0       2,500
            investment                                                        to central and eastern Europe.




Bulgaria    Regional       Royalton Partners II       -                       Equity financing for local service providers.        Equity funds     Private     2007       7,500          0     7,500           0       7,500
            investment




   All investments 1991- 2009
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   All investments 1991- 2009



Country     Type of        Project name                    Sub project              Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                              (€ 000)
Bulgaria    Regional       Balkan Accession Fund           -                        Finance provided to a private equity fund          Equity funds     Private     2006       26,225         0     5,600           0       5,600
            investment                                                              investing in medium-sized businesses.




Bulgaria    Regional       Europolis III                   -                        Equity investment allowing the creation of a       Property and     Private     2006       32,175      2,730    4,095           0       6,825
            investment                                                              regional portfolio of property assets in Bosnia    tourism
                                                                                    and Herzegovina, Bulgaria, FYR Macedonia,
                                                                                    Montenegro, Romania, Russia, Serbia and
                                                                                    Ukraine.
Bulgaria    Direct         Telelink                        -                        Financing geographic expansion of an               Telecoms,       Private      2006       10,104      1,035    2,070           0       3,104
            investment                                                              information technology and telecommunications      informatics and
                                                                                    service.                                           media


Bulgaria    Direct         Residential energy efficiency   ProCredit Bulgaria       Energy efficiency investment.                      Bank lending     Private     2006       13,500     13,500        0           0      13,500
            investment     credit line




Bulgaria    Direct         Energy efficiency and           Raiffesenbank Bulgaria   Credit line for on-lending to small and medium-    Bank lending     Private     2006       20,000     20,000        0           0      20,000
            investment     renewable energy credit line                             sized businesses.




Bulgaria    Regional       AIG New Europe Fund II          -                        Regional private equity fund investing in equity  Equity funds      Private     2006        5,000         0     5,000           0       5,000
            investment                                                              and equity securities of companies in central and
                                                                                    south-eastern Europe, subsidiary of AIG Global
                                                                                    Investment Group.

Bulgaria    Regional       Syntaxis Mezzanine Fund         -                        Fund with a portfolio of Central European          Equity funds     Private     2007        2,600         0     2,500           0       2,500
            investment                                                              investments, in various sectors.




Bulgaria    Direct         Bulgarian FLAG Infrastructure -                          Loan for the upgrade of Bulgarian municipal        Municipal and    State       2008      100,680     48,001        0           0      48,001
            investment     Project                                                  infrastructure.                                    environmental
                                                                                                                                       infrastructure


Bulgaria    Direct         Stara Zagora Water              -                        Investment to upgrade water supply                 Municipal and    State       2007       10,926      9,000        0           0       9,000
            investment                                                              infrastructure.                                    environmental
                                                                                                                                       infrastructure


Bulgaria    Regional       Accession Mezzanine Capital     -                        Private equity fund investing in central and south- Equity funds    Private     2007       40,000         0     8,000           0       8,000
            investment     II                                                       eastern European as well as Russia and
                                                                                    Ukraine.




   All investments 1991- 2009
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   All investments 1991- 2009



Country     Type of        Project name                Sub project                Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Bulgaria    Regional       New Europe Venture Equity   -                          Private equity fund investing in small and         Equity funds     Private     2007       8,000          0     8,000           0       8,000
            investment     Fund (NEVEQ)                                           medium-sized technology enterprises primarily
                                                                                  located in Bulgaria, FYR Macedonia and
                                                                                  Romania.

Bulgaria    Direct         Wienerberger Bulgaria       -                          Expansion and modernisation of a brick-making      Manufacturing    Private     2007       6,750       6,750        0           0       6,750
            investment                                                            plant.                                             and services




Bulgaria    Direct         Plovdiv water               -                          Investment to improve water and waste-water        Municipal and    State       2007      11,400      11,400        0           0      11,400
            investment                                                            facilities in Plovdiv.                             environmental
                                                                                                                                     infrastructure


Bulgaria    Direct         EU/EBRD Rural Finance       Raiffeisen Bank            Credit line for on-lending to rural customers.     Bank lending     Private     2007      20,000      20,000        0           0      20,000
            investment     Facility




Bulgaria    Direct         EU/EBRD SME Finance         Piraeus Bank               Credit line for on-lending to small and medium-    Bank lending     Private     2007      15,000      10,000        0           0      10,000
            investment     Facility                                               sized businesses.




Bulgaria    Direct         Energy Efficiency and        Piraeus Bank              Credit line for residential energy efficiency      Bank lending     Private     2007       5,000       5,000        0           0       5,000
            investment     Renewable Energy Credit Line                           improvements.




Bulgaria    Regional       Caucasus Online             -                          Debt and equity investment for construction of a   Telecoms,       Private      2008       2,358       2,358        0           0       2,358
            investment                                                            high capacity sub-sea cable.                       informatics and
                                                                                                                                     media


Bulgaria    Direct         EU/EBRD SME Finance         Piraeus Leasing Bulgaria   Credit line for on-lending to small and medium-    Insurance and    Private     2007      10,000      10,000        0           0      10,000
            investment     Facility                                               sized businesses.                                  financial
                                                                                                                                     services


Bulgaria    Direct         Bulgarian ESCO Fund (BEF)   -                          Loan to facilitate energy efficiency               Manufacturing    Private     2007       7,000       7,000        0           0       7,000
            investment                                                            improvements.                                      and services




Bulgaria    Direct         Post Privatisation Fund     -                          Investment in medium-sized private and             Equity funds     Private     1997       8,706          0     8,706           0       8,706
            investment                                                            privatised enterprises, supported by EU Phare
                                                                                  technical cooperation funding.




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project             Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Bulgaria    Regional       IØ Fund                      -                       Co-financing for small and medium-sized          Equity funds    Private     1995         746          0       746           0         746
            investment                                                          enterprises.




Bulgaria    Direct         ProCredit Bank Bulgaria      -                       Loan to enable support for micro and small       Small business Private      2008       20,000     20,000        0           0      20,000
            investment                                                          enterprises in Bulgaria.                         finance




Bulgaria    Regional       EnerCap                      -                       Private equity fund dedicated to investing in   Power and        Private     2007        5,000         0     1,250           0       1,250
            investment                                                          renewable energy and energy efficiency projects energy
                                                                                in central and south-eastern Europe.


Bulgaria    Regional       Advent Central and Eastern   -                       Support investment into central and south-       Equity funds    Private     2008       10,000         0    10,000           0      10,000
            investment     Europe IV                                            eastern European and Ukrainian companies.




Bulgaria    Direct         EU Energy Efficiency         United Bulgarian Bank   Loan for on-lending to improve energy efficiency. Bank lending   Private     2007        5,000      5,000        0           0       5,000
            investment     Framework




Bulgaria    Direct         EU Energy Efficiency         Unicredit Bulbank       Loan for on-lending to improve energy efficiency. Bank lending   Private     2007       15,000     15,000        0           0      15,000
            investment     Framework




Bulgaria    Regional       ViaOne                       -                       Equity investment to support the commercial      Telecoms,       Private     2008        3,387         0     2,000           0       2,000
            investment                                                          launch and development of ViaOne Europa          informatics and
                                                                                Holding's software platforms.                    media


Bulgaria    Direct         Saint Nikola Wind Farm       -                       Loan to aid construction of a new wind farm.     Power and       Private     2008      259,118     67,843        0           0      67,843
            investment                                                                                                           energy




Bulgaria    Direct         EU/EBRD SME Extension 7      Eurobank EFG Bulgaria   On-lending to small and micro enterprises in     Bank lending    Private     2008       25,000      7,000        0           0       7,000
            investment                                                          Bulgaria.




Bulgaria    Regional       ARX Private Equity Fund      -                       Support for investment to companies operating in Equity funds    Private     2008        6,000         0     6,000           0       6,000
            investment                                                          central and south-eastern Europe.




   All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                      Sub project        Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Bulgaria    Direct         Globe Trade Centre - Galeria -                       Loan to build a new commercial centre in Stara    Property and     Private     2008      54,601      17,100        0           0      17,100
            investment     Stara Zagora                                         Zagora.                                           tourism




Bulgaria    Regional       CEE Special Situations Fund       CRG Capital        Investment in an equity fund managed by CRG       Equity funds     Private     2009       3,000          0     3,000           0       3,000
            investment                                                          Partners targeting distressed and under-
                                                                                performing companies.


Bulgaria    Regional       Caucasus Online                   -                  Investment in an internet service provider and    Telecoms,       Private      2009          69          0        69           0          69
            investment                                                          sub-sea cable operator.                           informatics and
                                                                                                                                  media


Bulgaria    Direct         EU/EBRD SME                       SG Expressbank     Loan extension to support local small             Bank lending     Private     2008       5,000       5,000        0           0       5,000
            investment                                                          businesses.




Bulgaria    Direct         Energy Efficiency and        UniCredit Bulbank       Credit line for on-lending to energy efficiency   Bank lending     Private     2009      15,000       5,000        0           0       5,000
            investment     Renewable Energy Credit Line                         projects.
                           Framework extension 2


Bulgaria    Direct         Energy Efficiency and        United Bulgarian Bank   Credit line for on-lending to energy efficiency   Bank lending     Private     2009      15,000       7,500        0           0       7,500
            investment     Renewable Energy Credit Line                         projects.
                           Framework extension 2


Bulgaria    Regional       European Fund for SouthEast -                        Support to financial institutions for on-lending to Small business Private     2009      11,550          0     1,650           0       1,650
            investment     Europe II                                            MSMEs, as well as for housing and rural finance. finance




Bulgaria    Direct         Sofia electrical public transport -                  Procurement of trolleybuses and upgrade of        Municipal and    State       2009      18,000      18,000        0           0      18,000
            investment                                                          electrical substations.                           environmental
                                                                                                                                  infrastructure


Bulgaria    Direct         Hebros Bus Urban Transport        -                  Loan to Hebros Bus to finance fleet renewal and Municipal and      Private     2009       8,174       5,874        0           0       5,874
            investment                                                          expansion.                                      environmental
                                                                                                                                infrastructure


Bulgaria    Regional       Syntaxis Mezzanine Fund II        -                  Equity in a regional fund which aims to           Equity funds     Private     2009      45,000          0     9,000           0       9,000
            investment                                                          strengthen corporate governance and build
                                                                                institutions.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project         Description                                         Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Bulgaria    Regional       Resource Eastern European     -                   Support for institution building and expansion of   Equity funds   Private     2009        4,200         0     1,250           0       1,250
            investment     Equity Partners I                                 private equity, business improvement and best
                                                                             ethics and governance.


Bulgaria    Direct         Unicredit Group               Unicredit Bulbank   Medium and long-term debt financing in support      Bank lending   Private     2009       50,000     50,000        0           0      50,000
            investment                                                       of SMEs, lease finance and energy efficiency
                                                                             projects.


Bulgaria    Direct         Fama                          -                   A mezzanine loan to Fama, to finance the            Agribusiness   Private     2009        8,000      5,500        0           0       5,500
            investment                                                       company’s investment programme.




Bulgaria    Regional       Heitman Eastern European      -                   An equity investment into Heitman European          Property and   Private     2009       68,325         0    11,250           0      11,250
            investment     Property Fund                                     Property Partners IV, an investment vehicle         tourism
                                                                             pursuing long-term capital appreciation through
                                                                             real estate investments.

Bulgaria    Direct         Kaufland                      -                   The EBRD is providing a loan to Kaufland to         Agribusiness   Private     2009      110,000     60,000        0           0      60,000
            investment                                                       finance the expansion of their compact discount
                                                                             hypermarket format in Bulgaria.


Croatia     Direct         Highway reconstruction        -                   Construction of highway between Ostrovica and       Transport      State       1995      187,675     36,196        0           0      36,196
            investment                                                       Delnice.




Croatia     Direct         Air navigation system upgrade -                   Provision of radar and navigation equipment.        Transport      State       1994       16,600     13,687        0           0      13,687
            investment




Croatia     Direct         Electricity network           -                   War-damage reconstruction of power network.         Power and      State       1995       49,015     32,211        0           0      32,211
            investment     reconstruction                                                                                        energy




Croatia     Direct         Zagrebacka Banka              -                   Credit line supporting small and medium-sized       Bank lending   Private     1995       24,293     19,754        0           0      19,754
            investment                                                       enterprises.




Croatia     Regional       East European Food Fund       -                   Investment fund focusing on food and beverage       Agribusiness   Private     1995       17,430         0     4,114           0       4,114
            investment                                                       sector.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name               Sub project            Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Croatia     Direct         Pliva                      -                      Expansion of antibiotic production capacity and   Manufacturing   Private     1995       84,868     30,752   15,376           0      46,128
            investment                                                       support for expenditure programme.                and services




Croatia     Direct         Municipal environmental    -                      Expansion and improvement of waste-water and Municipal and        State       1996      122,490     31,575        0           0      31,575
            investment     investment programme                              water supply treatment network and services. environmental
                                                                                                                          infrastructure


Croatia     Direct         Agribusiness credit line   Dalmatinska Banka      Credit line to assist small and medium-sized      Bank lending    Private     1995       10,226     10,226        0           0      10,226
            investment                                                       enterprises in the agribusiness sector.




Croatia     Direct         Podravka                   -                      Construction of food seasoning production plant. Agribusiness     Private     1998      149,091         0    25,515           0      25,515
            investment




Croatia     Direct         Agribusiness credit line   Agro-Obrtnicka Banka   Credit line to assist small and medium-sized      Bank lending    Private     1995        5,186      5,186        0           0       5,186
            investment                                                       enterprises in the agribusiness sector.




Croatia     Direct         Croatia wholesale market   -                      Development of market distribution system for     Agribusiness    State       1997       16,982      3,204        0           0       3,204
            investment                                                       fresh produce.




Croatia     Direct         Tourism credit line        -                      Credit line to finance repairs and upgrade tourist Bank lending   Private     1996       25,565     25,565        0           0      25,565
            investment                                                       facilities.




Croatia     Direct         Varazdinska Banka          -                      Increase funding to support anticipated growth in Bank equity     Private     1996       11,868      7,912    3,956           0      11,868
            investment                                                       lending and investment operations.




Croatia     Direct         Zagrebacka Banka           -                      Purchase of information technology equipment.     Bank lending    Private     1995        3,068      2,494        0           0       2,494
            investment




Croatia     Direct         Panonska Pivovara          -                      Restructuring of Croatia’s largest food company. Agribusiness     Private     1996       62,071     16,873        0           0      16,873
            investment




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project             Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Croatia     Direct         Slavonska Banka Osijek          -                       Equity investment and five-year cross-currency   Bank equity      Private     1998       24,352      4,879    9,758           0      14,637
            investment                                                             convertible bank-to-bank loan.




Croatia     Direct         HVB Croatia                     -                       Equity investment in HVB Croatia.                Bank equity      Private     1996       13,871         0     2,897           0       2,897
            investment




Croatia     Direct         Hypo Banka Croatia              -                       Equity investment in Hypo Banka Croatia.         Bank equity      Private     1997       10,862         0     3,269           0       3,269
            investment




Croatia     Direct         Dalmatinska Banka               -                       Credit line to assist small and medium-sized     Bank lending     Private     1996        7,459      7,459        0           0       7,459
            investment                                                             enterprises.




Croatia     Direct         Croatia SME Finance Facility    Erste and               Financing for small and medium-sized             Bank lending     Private     1996        5,011      5,011        0           0       5,011
            investment                                     Steiermaerkische Bank   enterprises.




Croatia     Direct         Croatia SME Finance Facility    Alpe Jadran Banka       Financing for small and medium-sized             Bank lending     Private     1996        5,113      5,113        0           0       5,113
            investment                                                             enterprises.




Croatia     Direct         Zagreb solid waste              -                       Completion of two landfills.                     Municipal and    State       1998       47,588     23,974        0           0      23,974
            investment     management programme                                                                                     environmental
                                                                                                                                    infrastructure


Croatia     Direct         Zagreb waste-water treatment -                          Construction and operation of waste-water        Municipal and    Private     2001      326,709     42,200        0           0      42,200
            investment     plant                                                   treatment plant.                                 environmental
                                                                                                                                    infrastructure


Croatia     Direct         Croatia Capital Partnership Ltd -                       Equity fund benefiting small and medium-sized    Equity funds     Private     1997       23,438         0     4,713           0       4,713
            investment                                                             enterprises undergoing privatisation.




Croatia     Direct         Croatia SME Finance Facility    Erste and               Financing for small and medium-sized             Bank lending     Private     1997        7,370      7,370        0           0       7,370
            investment                                     Steiermaerkische Bank   enterprises.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                   Sub project        Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Croatia     Direct         Croatia SME Finance Facility   Medimurska Banka   Financing for small and medium-sized              Bank lending     Private     1997        5,113      5,113        0           0       5,113
            investment                                                       enterprises.




Croatia     Direct         Railways rehabilitation        -                  Restructuring and commercialisation of Croatian Transport          State       1998      151,814     24,274        0           0      24,274
            investment                                                       railways and upgrade of locomotive fleet.




Croatia     Regional       Advent Central and Eastern     -                  Private equity fund supporting small and medium- Equity funds      Private     1997        8,893         0     3,488           0       3,488
            investment     Europe Fund II                                    sized enterprises in central and eastern Europe.




Croatia     Direct         Mortgage Finance Facility      Zagrebacka Banka   Credit line providing long-term mortgage loans.   Bank lending     Private     1998       51,129     17,155        0           0      17,155
            investment




Croatia     Regional       AIG New Europe Fund            -                  Private equity fund investing in central and      Equity funds     Private     1999       11,686         0     2,303           0       2,303
            investment                                                       eastern Europe.




Croatia     Direct         INA Rijeka refinery            -                  Upgrade of waste-water treatment and              Natural          Private     2001       31,712     31,712        0           0      31,712
            investment     environmental rehabilitation                      hazardous waste management facilities to          Resources
                                                                             improve environmental performance.


Croatia     Direct         UNIQA Osiguranje               -                  Expansion of leading Austrian insurance           Insurance and    Private     1999        1,835         0     1,835           0       1,835
            investment                                                       company's operations.                             financial
                                                                                                                               services


Croatia     Direct         HVB Croatia                    -                  Equity investment in HVB Croatia.                 Bank equity      Private     1998       22,424         0     4,552           0       4,552
            investment




Croatia     Direct         VIP-Net I                      -                  Construction and operation of second national     Telecoms,       Private      1999      341,900     22,372        0           0      22,372
            investment                                                       GSM 900 mobile phone network.                     informatics and
                                                                                                                               media


Croatia     Direct         Rijeka sewerage services       -                  Design and construction of sewerage sub-          Municipal and    State       1999        8,840      8,100        0           0       8,100
            investment     improvement programme                             system, comprising a main collector and nine      environmental
                                                                             pumping stations.                                 infrastructure




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                   Sub project             Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Croatia     Direct         Erste Pension Fund             -                       Pension fund managing mandatory contributions Insurance and      Private     2000        4,167         0     1,519           0       1,519
            investment                                                            made by individuals.                          financial
                                                                                                                                services


Croatia     Regional       Private Equity Fund Facility   Trigranit               Equity investment in leading commercial property Property and    Private     1999        3,267         0       680           0         680
            investment                                                            developer and operator.                          tourism




Croatia     Direct         Croatia SME Finance Facility   Erste and               Financing for small and medium-sized             Bank lending    Private     1999        7,700      7,700        0           0       7,700
            investment                                    Steiermaerkische Bank   enterprises.




Croatia     Direct         Croatia SME Finance Facility   Erste and               Financing for small and medium-sized             Bank lending    Private     1999        3,600      3,600        0           0       3,600
            investment                                    Steiermaerkische Bank   enterprises.




Croatia     Direct         Nasice Cement                  -                       Upgrade of cement kiln and provision of          Manufacturing   Private     2000       40,000     15,000        0           0      15,000
            investment                                                            financing for potential acquisitions.            and services




Croatia     Direct         Agrokor                        -                       Restructuring of Croatia’s largest food company. Agribusiness    Private     2000      149,999     57,999        0           0      57,999
            investment




Croatia     Direct         Pliva research facility        -                       Construction of research institute developing    Manufacturing   Private     2000       71,572     17,338        0           0      17,338
            investment                                                            pharmaceutical substances.                       and services




Croatia     Regional       EU/EBRD SME Finance            Euroventures Danube     Private equity fund supporting small and medium- Equity funds    Private     2001         283          0        29           0          29
            investment     Facility                                               sized enterprises.




Croatia     Direct         Port of Dubrovnik              -                       Extension of berth area in the port of Gruz,     Transport       State       2005       41,700     26,500        0           0      26,500
            investment     infrastructure modernisation                           Dubrovnik, to accommodate more and larger
                           project                                                vessels.


Croatia     Direct         Council of Europe           -                          Credit line to assist small and medium-sized     Bank lending    Private     2001       14,000      6,000        0           0       6,000
            investment     Development Bank (CEDB) co-                            enterprises.
                           financing facility




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project        Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Croatia     Regional       TBIH Financial Services     -                  Expansion of insurance and pension operations        Insurance and   Private     2000        6,711      1,347    2,693           0       4,040
            investment                                                    in central and eastern Europe.                       financial
                                                                                                                               services


Croatia     Direct         Bank Austria Framework      HVB Bank Croatia   Expansion of small and medium-sized enterprise Bank lending          Private     2000        4,990      4,990        0           0       4,990
            investment                                                    financing and mortgage lending.




Croatia     Regional       Innova/3                    -                  Private equity fund supporting small and medium- Equity funds        Private     2001        9,416         0     1,116           0       1,116
            investment                                                    sized enterprises.




Croatia     Direct         VIP-Net II                  -                  Extension of syndicated loan facility enabling       Telecoms,       Private     2001      154,884      2,084        0           0       2,084
            investment                                                    construction and operation of second national        informatics and
                                                                          GSM 900 mobile phone network.                        media


Croatia     Direct         Getro                       -                  Expansion of retail operations in Croatia, mainly    Agribusiness    Private     2002      124,990     41,537    3,461           0      44,998
            investment                                                    cash and carry and discount outlets.




Croatia     Direct         Mortgage Finance Facility   PBZ                Credit line providing long-term mortgage loans.      Bank lending    Private     2001       40,000     40,000        0           0      40,000
            investment




Croatia     Direct         Uljanik Shipyard            -                  A guarantee facility to assist in the construction   Transport       State       2001       22,301         0         0       7,969       7,969
            investment                                                    of a new tanker at the state-owned Uljanik
                                                                          Shipyard.


Croatia     Direct         GlobalNET                   -                  Development of ISP’s customer base.                  Telecoms,       Private     2001        3,088         0     1,770           0       1,770
            investment                                                                                                         informatics and
                                                                                                                               media


Croatia     Direct         Vetropack                   -                  Renovation and expansion of glass production         Agribusiness    Private     2001       67,800     12,500        0           0      12,500
            investment                                                    plant.




Croatia     Direct         UNIQA Osiguranje            -                  Expansion of leading Austrian insurance              Insurance and   Private     2003        5,345         0     1,342           0       1,342
            investment                                                    company's operations.                                financial
                                                                                                                               services




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project        Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Croatia     Direct         Autocesta Rijeka-Zagreb         -                  Construction of two key sections of the M12       Transport       State       2001      140,000     60,000        0           0      60,000
            investment                                                        motorway.




Croatia     Direct         Privredna Banka Zagreb          -                  Acquisition of up to 22 per cent of ordinary      Bank equity     Private     2002      114,337         0    114,337          0     114,337
            investment                                                        shares and voting rights, as part of the final
                                                                              phase of privatisation.


Croatia     Direct         RZB Croatia                     -                  Credit line supporting small and medium-sized     Bank lending    Private     2002       30,000     10,000        0           0      10,000
            investment                                                        enterprises.




Croatia     Direct         Area control centre project     -                  Renewal of main air traffic control centre.       Transport       State       2002       54,824     24,944        0           0      24,944
            investment




Croatia     Direct         Warehouse Receipt               Zagrebacka Banka   Expansion of Croatian grain export market         Agribusiness    Private     2002       71,400         0         0      25,000      25,000
            investment     Programme                                          through pre-financing and short-term lending
                                                                              against warehouse receipts for agribusiness
                                                                              companies, farmers and traders.

Croatia     Direct         Erste and Steiermaerkische      -                  Financing for small and medium-sized              Bank lending    Private     2002       20,000     20,000        0           0      20,000
            investment     Bank                                               enterprises.




Croatia     Direct         Motorway rehabilitation         -                  Improvements to the European Corridor X           Transport       State       2002      123,854     45,254        0           0      45,254
            investment                                                        motorway from Zabok to Brodski Stupnik.




Croatia     Direct         HVB Croatia                     -                  Credit line providing long-term mortgage loans.   Bank lending    Private     2003       15,000      5,000        0           0       5,000
            investment




Croatia     Direct         VIP-Net corporate loan facility -                  Development of essential telecommunications       Telecoms,       Private     2002      143,240     19,240        0           0      19,240
            investment                                                        infrastructure.                                   informatics and
                                                                                                                                media


Croatia     Direct         Warehouse Receipt               Zagrebacka Banka   Short-term lending against warehouse receipts     Agribusiness    Private     2003       71,400         0         0      25,000      25,000
            investment     Programme                                          for agribusiness companies, farmers and
                                                                              traders.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project        Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Croatia     Direct         Corridor 10 motorway         -                  Upgrade of Trans-European Corridor 10 to a four- Transport          State       2003      108,984     44,984        0           0      44,984
            investment                                                     lane motorway.




Croatia     Direct         Rijeka bypass                -                  Completion of a bypass to ease traffic             Transport        State       2006      143,640     40,000        0           0      40,000
            investment                                                     congestion and facilitate movement.




Croatia     Direct         Nasice Cement expansion      -                  Acquisition of construction material producers     Manufacturing    Private     2003       56,499     20,000        0           0      20,000
            investment     facility                                        and modernisation of production lines.             and services




Croatia     Regional       Raiffeisen International     -                  Equity investment supporting growth of            Bank equity       Private     2004       10,000         0     5,000           0       5,000
            investment                                                     Raiffeisen International's business in Bosnia and
                                                                           Herzegovina.


Croatia     Direct         Zagreb solid waste           -                  Completion of two landfills.                       Municipal and    State       2003       30,000     17,100        0           0      17,100
            investment     management programme                                                                               environmental
                                                                                                                              infrastructure


Croatia     Regional       TUI advance payments         -                  Upgrade and expansion of hotels in Croatia.        Property and     Private     2003        4,050      4,050        0           0       4,050
            investment                                                                                                        tourism




Croatia     Direct         Mortgage Finance Facility    Zagrebacka Banka   Credit line providing long-term mortgage loans.    Bank lending     Private     2004       50,000     50,000        0           0      50,000
            investment




Croatia     Direct         EU/EBRD Municipal Finance    Zagrebacka Banka   Support for municipalities and infrastructure      Bank lending     Private     2003       11,100     10,000        0           0      10,000
            investment     Facility                                        projects.




Croatia     Direct         Dubrovnik urban transport    -                  Acquisition of 40 buses.                           Municipal and    State       2004       10,800      6,550        0           0       6,550
            investment     development project                                                                                environmental
                                                                                                                              infrastructure


Croatia     Regional       Southeast Europe Equity Fund -                  Equity fund investing in private funds in south-   Equity funds     Private     2005        3,624         0     3,624           0       3,624
            investment     II                                              eastern Europe.




   All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project                 Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Croatia     Regional       Europolis II                -                           Development of commercial property projects.       Property and     Private     2004       34,325      3,247    4,330           0       7,577
            investment                                                                                                                tourism




Croatia     Direct         Agricultural Commodity      Zagrebacka Banka            Commodity financing for small and medium-          Agribusiness     Private     2004       71,400         0         0      25,000      25,000
            investment     Financing Programme                                     sized agribusinesses.




Croatia     Direct         Karlovac waste-water        -                           Beginning construction of a waste-water            Municipal and    State       2005       36,000     10,000        0           0      10,000
            investment     management project                                      treatment plant and upgrade and extension of       environmental
                                                                                   existing sewerage network.                         infrastructure


Croatia     Direct         Autocesta Rijeka-Zagreb     -                           Upgrading of a road to full motorway status.       Transport        State       2006      346,600     50,000        0           0      50,000
            investment




Croatia     Regional       Argus Capital Partners II   -                           Private equity fund supporting medium-sized        Equity funds     Private     2005         200          0       200           0         200
            investment                                                             enterprises. Successor to the Argus Capital
                                                                                   Partners fund.


Croatia     Direct         Ploce port                  -                           Finance for civil works and supply of heavy lift   Transport        State       2007       91,000     11,200        0           0      11,200
            investment                                                             cranes for work to Ploce port's new bulk terminal.




Croatia     Regional       Emerging Europe             -                           Direct equity fund investing in central and eastern Equity funds    Private     2005        6,000         0     6,000           0       6,000
            investment     Convergence Fund II                                     Europe.




Croatia     Direct         EU/EBRD SME Finance         Raiffeisen Leasing Croatia Credit line for on-lending to small and medium-     Insurance and    Private     2006       20,000     20,000        0           0      20,000
            investment     Facility                                               sized businesses.                                   financial
                                                                                                                                      services


Croatia     Regional       Capital Media               -                           Long-term financing enabling extension of          Telecoms,       Private      2006        4,000      2,000        0           0       2,000
            investment                                                             operations for TV broadcaster operating in         informatics and
                                                                                   central and eastern Europe.                        media


Croatia     Direct         EU/EBRD SME Finance         Erste Leasing Croatia       Credit line for on-lending to small and medium-    Insurance and    Private     2007       10,000     10,000        0           0      10,000
            investment     Facility                                                sized businesses.                                  financial
                                                                                                                                      services




   All investments 1991- 2009
                                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project                Description                                              Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                    (€ 000)
Croatia     Regional       European Fund for Southeast   -                          Privately managed public/private investment fund Small business Private               2006        2,000         0      2,000          0       2,000
            investment     Europe                                                   which will provide financing for micro, small and finance
                                                                                    medium-sized businesses as well as housing
                                                                                    and rural finance in south-eastern Europe.

Croatia     Direct         EU/EBRD SME Finance           Hrvatska postanska banka Credit line for on-lending to small and medium-            Bank lending     Private     2006       10,000     10,000        0           0      10,000
            investment     Facility                                               sized businesses.




Croatia     Regional       SG AM Eastern Europe          -                          Investment in consumer services and                      Equity funds     Private     2005        5,400         0      3,000          0       3,000
            investment                                                              manufacturing companies.




Croatia     Regional       Bluehouse equity fund         -                          Equity investment in Bluehouse Accession                 Property and     Private     2006       15,253         0      2,500          0       2,500
            investment                                                              Property, a fund acquiring, developing,                  tourism
                                                                                    renovating, owning and managing property in
                                                                                    Bulgaria, Croatia, Moldova, Romania, Serbia and
                                                                                    Ukraine.
Croatia     Regional       BSR Europe Co-Investment      -                          Equity investment in a company developing                Property and     Private     2006       10,000         0      3,500          0       3,500
            investment     Facility                                                 office, retail, residential and industrial real estate   tourism
                                                                                    in Croatia.


Croatia     Regional       Royalton Partners II          -                          Equity financing for local service providers.            Equity funds     Private     2007        5,000         0      5,000          0       5,000
            investment




Croatia     Direct         Agrokor                       -                          Investment in the country’s leading food retailer,       Agribusiness     Private     2006      110,000         0    110,000          0     110,000
            investment                                                              encouraging regional growth.




Croatia     Direct         Pula Urban Transport          -                          Loan to renovate bus fleet.                              Municipal and    State       2006        6,600      5,000        0           0       5,000
            investment                                                                                                                       environmental
                                                                                                                                             infrastructure


Croatia     Regional       Balkan Accession Fund         -                          Finance provided to a private equity fund                Equity funds     Private     2006       15,735         0      3,360          0       3,360
            investment                                                              investing in medium-sized businesses.




Croatia     Direct         Privredna Banka Zagreb        -                          Equity investment to promote growth of a                 Bank equity      Private     2006       53,069         0     53,069          0      53,069
            investment                                                              successful commercial bank.




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project       Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Croatia     Regional       Clean Globe International Oil   -                 Establishment of crude oil spill response centres Natural            Private     2007       7,505        425         0           0         425
            investment     Spill Protection                                  in key locations in the Bank’s countries of       Resources
                                                                             operations and provision of regional training,
                                                                             prevention and remedial services

Croatia     Regional       AIG New Europe Fund II          -                 Regional private equity fund investing in equity  Equity funds       Private     2006       5,000          0     5,000           0       5,000
            investment                                                       and equity securities of companies in central and
                                                                             south-eastern Europe, subsidiary of AIG Global
                                                                             Investment Group.

Croatia     Regional       Syntaxis Mezzanine Fund         -                 Fund with a portfolio of Central European           Equity funds     Private     2007       2,600          0     2,500           0       2,500
            investment                                                       investments, in various sectors.




Croatia     Regional       GS Hotels and Resort (Loan)     -                 Loan to leading local hospitality group, based in   Property and     Private     2007      86,048      25,888        0           0      25,888
            investment                                                       Dubrovnik.                                          tourism




Croatia     Regional       Accession Mezzanine Capital     -                 Private equity fund investing in central and south- Equity funds     Private     2007      10,000          0     2,000           0       2,000
            investment     II                                                eastern European as well as Russia and
                                                                             Ukraine.


Croatia     Direct         Velika Gorica Urban Transport -                   Loan to improve communal services in Velika         Municipal and    State       2008       9,530       9,000        0           0       9,000
            investment                                                       Gorica.                                             environmental
                                                                                                                                 infrastructure


Croatia     Direct         EU/EBRD SME Finance             Raiffeisen Bank   Credit line for on-lending to small and medium-     Bank lending     Private     2007      10,000      10,000        0           0      10,000
            investment     Facility                                          sized businesses.




Croatia     Regional       Clean Globe Oil Spill           -                 Equity investment in oil spill response centres.    Natural          Private     2007       2,040          0       240           0         240
            investment     Investment                                                                                            Resources




Croatia     Regional       Capital Media                   -                 Development and restructuring of TV                 Telecoms,       Private      2007       2,000       1,000        0           0       1,000
            investment                                                       broadcasting group.                                 informatics and
                                                                                                                                 media


Croatia     Regional       GS Hotels and Resorts           -                 Equity investment in local hospitality group.       Property and     Private     2007      80,240          0    20,080           0      20,080
            investment     (Equity)                                                                                              tourism




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                             Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Croatia     Direct         Jadranka Hotels               -             Equity investment to finance the refurbishment          Property and     Private     2008      84,770          0    24,000           0      24,000
            investment                                                 and modernisation of existing hotels and villas.        tourism




Croatia     Regional       EnerCap                       -             Private equity fund dedicated to investing in   Power and                Private     2007      10,000          0     2,500           0       2,500
            investment                                                 renewable energy and energy efficiency projects energy
                                                                       in central and south-eastern Europe.


Croatia     Direct         Zagreb water                  -             Upgrade and expansion of water and waste-               Municipal and    State       2007      60,030      30,000        0           0      30,000
            investment                                                 water infrastructure.                                   environmental
                                                                                                                               infrastructure


Croatia     Regional       Advent Central and Eastern    -             Support investment into central and south-              Equity funds     Private     2008       5,000          0     5,000           0       5,000
            investment     Europe IV                                   eastern European and Ukrainian companies.




Croatia     Regional       ViaOne                        -             Equity investment to support the commercial             Telecoms,       Private      2008       1,694          0     1,000           0       1,000
            investment                                                 launch and development of ViaOne Europa                 informatics and
                                                                       Holding's software platforms.                           media


Croatia     Regional       CEE Special Situations Fund   CRG Capital   Investment in an equity fund managed by CRG             Equity funds     Private     2009       1,000          0     1,000           0       1,000
            investment                                                 Partners targeting distressed and under-
                                                                       performing companies.


Croatia     Direct         Viro                          -             Loan to modernise the sugar producer and to             Agribusiness     Private     2008      40,000      20,000        0           0      20,000
            investment                                                 privatise a state-owned sugar refinery.




Croatia     Direct         Eurocable equity investment   -             Equity investment to support expansion of a             Manufacturing    Private     2008      18,200          0    15,500           0      15,500
            investment                                                 cable producer.                                         and services




Croatia     Regional       Asseco South Eastern Europe -               Participation in the initial public offering of an IT   Telecoms,       Private      2009       2,250          0     2,250           0       2,250
            investment                                                 company.                                                informatics and
                                                                                                                               media


Croatia     Regional       Syntaxis Mezzanine Fund II    -             Equity in a regional fund which aims to                 Equity funds     Private     2009      45,000          0     9,000           0       9,000
            investment                                                 strengthen corporate governance and build
                                                                       institutions.




   All investments 1991- 2009
                                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project               Description                                             Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Croatia     Direct         Unicredit Group             Zagrebacka Banka          Credit line for UniCredit subsidiaries in support of Bank lending       Private     2009       50,000     50,000        0           0      50,000
            investment                                                           SMEs, lease finance and energy efficiency
                                                                                 projects.


Croatia     Direct         Trade Facilitation Programme Privredna Banka Zagreb   Subproject under the TFP for guarantee                  Bank lending    Private     2009       23,268     11,634        0      11,634      23,268
            investment                                                           issuance and disbursements.




Croatia     Direct         Privredna Banka Zagreb      -                         Credit line for on-lending to small and medium-         Bank lending    Private     2009       50,000     50,000        0           0      50,000
            investment                                                           sized enterprises.




Croatia     Direct         Plinacro                    -                         Financing for the acquisition of Podzemno               Natural         State       2009       70,000     70,000        0           0      70,000
            investment                                                           skladiste plina, which owns underground gas             Resources
                                                                                 storage facilities in Okoli.


Croatia     Direct         Spar                        -                         Loan to support Spar Croatia in the regional            Agribusiness    Private     2009       47,000     25,000        0           0      25,000
            investment                                                           expansion of its retail chain.




Croatia     Regional       Heitman Eastern European    -                         An equity investment into Heitman European              Property and    Private     2009       13,665         0     2,250           0       2,250
            investment     Property Fund                                         Property Partners IV, an investment vehicle             tourism
                                                                                 pursuing long-term capital appreciation through
                                                                                 real estate investments.

Croatia     Regional       Asseco South Eastern Europe -                         Participation in the initial public offering of an IT   Telecoms,       Private     2009        1,050      1,050        0           0       1,050
            investment                                                           company.                                                informatics and
                                                                                                                                         media


Croatia     Regional       Southeast Europe Energy     -                         Financing for energy efficiency projects through        Insurance and   Private     2009       18,976         0     5,000           0       5,000
            investment     Efficiency Fund (SE4F)                                local financial institutions.                           financial
                                                                                                                                         services


Czech       Direct         Barum / Continental         -                         Modernisation of tyre manufacturing plant and           Manufacturing   Private     1994      155,661     29,578        0           0      29,578
Republic    investment                                                           distribution business.                                  and services




Czech       Direct         CZ-Cagiva                   -                         Modernisation of motorcycle and engine                  Manufacturing   Private     1993       36,941      5,850        0           0       5,850
Republic    investment                                                           manufacturer.                                           and services




   All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project   Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                             (€ 000)
Czech       Direct         Karosa – Renault            -             Modernisation of city buses and intercity coaches Manufacturing   Private     1994       47,505         0     6,520           0       6,520
Republic    investment                                               and upgrade of manufacturing operations.          and services




Czech       Direct         Kabel Net                   -             Construction, development and operation of       Telecoms,       Private      1994       11,409         0     2,497           0       2,497
Republic    investment                                               cable television in the Czech Republic.          informatics and
                                                                                                                      media


Czech       Regional       Alliance ScanEast Fund      -             Private equity fund supporting industrial        Equity funds     Private     1994        6,936         0     2,455           0       2,455
Republic    investment                                               companies.




Czech       Direct         Cokoladovny                 -             Expansion of food manufacturer’s operations.     Agribusiness     Private     1992      199,444         0    23,336           0      23,336
Republic    investment




Czech       Regional       Renaissance Fund            -             Venture capital fund supporting private          Equity funds     Private     1993       11,553         0     3,459           0       3,459
Republic    investment                                               companies.




Czech       Direct         Tatratex                    -             Construction of casting facility.                Manufacturing    Private     1993        2,042       817         0           0         817
Republic    investment                                                                                                and services




Czech       Direct         Ceskoslovenske Aerolinie    -             Privatisation of national air carrier and        Transport        Private     1992       23,948         0    23,948           0      23,948
Republic    investment     (CSA)                                     modernisation of its fleet.




Czech       Direct         Czech Telecommunications    -             Development of digital overlay network and       Telecoms,       State        1993      260,752     33,752        0           0      33,752
Republic    investment     Project                                   expansion of telecommunications system.          informatics and
                                                                                                                      media


Czech       Direct         Eurotel Praha               -             Construction of cellular networks and public     Telecoms,       Private      1992       46,813      7,629        0           0       7,629
Republic    investment                                               switched packet data networks.                   informatics and
                                                                                                                      media


Czech       Regional       Czech and Slovak Investment -             Private equity fund supporting medium-sized      Equity funds     Private     1992        6,422         0     3,626           0       3,626
Republic    investment     Corp                                      enterprises in the Czech and Slovak Republics.




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project      Description                                       Sector          Portfolio   Year of       Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing     project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Czech       Direct         Thurn Taxis Dobrovice sugar   -                Modernisation of sugar plant and expansion of     Agribusiness    Private     1993        30,093          0     4,194           0       4,194
Republic    investment     factory                                        production capacity.




Czech       Direct         CES Uniweb (ING)              -                Redevelopment of weaving mill.                    Manufacturing   Private     1993         6,401       1,617        0           0       1,617
Republic    investment                                                                                                      and services




Czech       Regional       New Europe East Investment    -                Equity fund supporting private companies and      Equity funds    Private     1993        13,439          0     3,292           0       3,292
Republic    investment     Fund                                           joint ventures.




Czech       Regional       Dun and Bradstreet            -                Development of business information services in Insurance and     Private     1993           342          0       342           0         342
Republic    investment                                                    central and eastern Europe.                     financial
                                                                                                                          services


Czech       Direct         Technolen WF                  -                Modernisation of textile production facilities.   Manufacturing   Private     1995        24,009       8,620        0           0       8,620
Republic    investment                                                                                                      and services




Czech       Direct         Ceske Drahy - Czech railway   -                Modernisation and upgrade of railway line         Transport       State       1995      1,146,754     12,910        0           0      12,910
Republic    investment     corridor                                       connecting Prague to Vienna and Berlin.




Czech       Regional       Advent Private Equity Fund    -                Private equity fund supporting small and medium- Equity funds     Private     1994         5,407          0     2,078           0       2,078
Republic    investment     Central Europe                                 sized enterprises in central and eastern Europe.




Czech       Direct         Skoda Kovarny                 -                Development of crankshafts.                       Manufacturing   Private     1995        23,115      13,355        0           0      13,355
Republic    investment                                                                                                      and services




Czech       Direct         Regional Trade Facilitation   Komercni Banka   Support for foreign trade.                        Bank lending    Private     1994        10,403      10,403        0           0      10,403
Republic    investment     Programme




Czech       Direct         Tesla - Y.S.                  -                Modernisation of automotive component             Manufacturing   Private     1994        16,615       5,131        0           0       5,131
Republic    investment                                                    production plant.                                 and services




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                      Sub project   Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Czech       Direct         Investicni a Postovni Banka       -             Credit line for export financing companies.       Bank lending    Private     1995        5,395      5,395        0           0       5,395
Republic    investment




Czech       Direct         Sepap Steti                       -             Investment in pulp and paper mill.                Manufacturing   Private     1995      197,117     56,794        0           0      56,794
Republic    investment                                                                                                       and services




Czech       Regional       MBA loan project                  -             Financial support for students undertaking MBA    Bank lending    Private     1995        1,023       326         0         245         571
Republic    investment                                                     degrees at top-tier business schools.




Czech       Regional       Advent International              -             Private equity fund supporting small and medium- Equity funds     Private     1995        4,935         0     4,935           0       4,935
Republic    investment                                                     sized Czech enterprises.




Czech       Direct         Czech Private Equity Fund         -             Direct equity and equity-related investments in   Equity funds    Private     1997       21,711         0     2,282           0       2,282
Republic    investment                                                     medium-sized enterprises.




Czech       Regional       Environmental Investment          -             Support for companies undertaking environment- Municipal and      Private     1997        4,400         0     1,000           0       1,000
Republic    investment     Fund                                            related projects in the infrastructure sector. environmental
                                                                                                                          infrastructure


Czech       Direct         Winterthur multi-project facility -             Equity investment in Czech composite insurer.     Insurance and   Private     1995       67,566         0    33,092           0      33,092
Republic    investment                                                                                                       financial
                                                                                                                             services


Czech       Regional       DBG Osteuropa Holding             -             Private equity fund supporting medium-sized       Equity funds    Private     1997        7,120         0     2,556           0       2,556
Republic    investment     GmbH                                            enterprises.




Czech       Direct         Korado                            -             Equity investment in radiator manufacturer.       Manufacturing   Private     1997      150,779         0    29,866           0      29,866
Republic    investment                                                                                                       and services




Czech       Regional       Baring Communications             -             Private equity fund targeting the media and       Telecoms,       Private     1997       11,043         0     2,478           0       2,478
Republic    investment                                                     communications sector.                            informatics and
                                                                                                                             media




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Czech       Direct         SIS mutual funds              -             Investment in Sporobond and Sporotrend mutual Insurance and         Private     1997      40,199          0     9,725           0       9,725
Republic    investment                                                 funds, targeting domestic retail and corporate financial
                                                                       investors.                                     services


Czech       Regional       Communication and             -             Private equity fund targeting the media and        Telecoms,       Private      1999      10,536          0     3,185           0       3,185
Republic    investment     Information Technology Fund                 communications sector.                             informatics and
                                                                                                                          media


Czech       Regional       Advent Central and Eastern    -             Private equity fund supporting small and medium- Equity funds       Private     1997       5,929          0     2,326           0       2,326
Republic    investment     Europe Fund II                              sized enterprises in central and eastern Europe.




Czech       Direct         Brno waste-water treatment    -             Extension and upgrade of the Brno-Modrice          Municipal and    Private     1999      82,799      27,500        0           0      27,500
Republic    investment     plant                                       waste-water treatment plant.                       environmental
                                                                                                                          infrastructure


Czech       Direct         Czech Direct Equity Fund      -             Direct equity and equity-related investments in    Equity funds     Private     1998      33,129          0     8,505           0       8,505
Republic    investment                                                 medium-sized enterprises.




Czech       Regional       Innova/98                     -             Private equity fund supporting small and medium- Equity funds       Private     1998       8,571          0     1,988           0       1,988
Republic    investment                                                 sized enterprises.




Czech       Regional       AIG New Europe Fund           -             Private equity fund investing in central and       Equity funds     Private     1999      35,059          0     6,910           0       6,910
Republic    investment                                                 eastern Europe.




Czech       Regional       Central and Eastern Europe    -             Investment in private sector projects in power     Power and        Private     1999       4,288          0     1,307           0       1,307
Republic    investment     Power Fund                                  generation, transmission and district heating.     energy




Czech       Regional       Emerging Europe Capital       -             Direct equity fund investing in central and eastern Equity funds    Private     1999      11,014          0     3,503           0       3,503
Republic    investment     Investors LDC                               Europe.




Czech       Direct         Ceska Sporitelna              -             Equity investment in second-largest Czech bank. Bank equity         Private     1998      66,982          0    66,982           0      66,982
Republic    investment




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project             Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Czech       Regional       Energy Efficiency and         -                       Equity financing for energy efficiency and          Power and       Private     1999       10,650         0     3,000           0       3,000
Republic    investment     Emissions Reduction Fund                              emission-reducing projects.                         energy




Czech       Direct         Ceskoslovenske Obchodni       -                       Privatisation of CSOB.                              Bank equity     Private     1999      177,015    125,000        0           0     125,000
Republic    investment     Banka (CSOB)




Czech       Direct         Uniqa Pojistovna              -                       Equity investment in Czech composite insurer.       Insurance and   Private     1999        2,804         0     2,804           0       2,804
Republic    investment                                                                                                               financial
                                                                                                                                     services


Czech       Regional       MBA loan project              -                       Financial support for students undertaking MBA      Bank lending    Private     1998         220         46         0          46          92
Republic    investment                                                           degrees at top-tier business schools.




Czech       Direct         European Property Group       -                       Commercial property development.                    Property and    Private     1999      133,912         0    24,705           0      24,705
Republic    investment                                                                                                               tourism




Czech       Regional       Heitman Central Europe        -                       Investment in property projects, primarily office   Property and    Private     2000       33,183         0     9,152           0       9,152
Republic    investment     Property Partners Fund                                buildings, warehousing/distribution and retail      tourism
                                                                                 shopping centres.


Czech       Direct         TIW Czech N.V                 -                       Equity investment in wireless                       Telecoms,       Private     2001      294,465         0    30,373           0      30,373
Republic    investment                                                           telecommunications service provider.                informatics and
                                                                                                                                     media


Czech       Regional       Argus Capital Partners        -                       Private equity fund supporting medium-sized         Equity funds    Private     2000       38,931         0     8,607           0       8,607
Republic    investment                                                           enterprises.




Czech       Regional       Accession Mezzanine Capital   -                       Establishment of first dedicated mezzanine fund, Equity funds       Private     2002       14,800         0     6,000           0       6,000
Republic    investment                                                           supporting mature companies.




Czech       Regional       EU/EBRD SME Finance           GIMV Czech and Slovak   Private equity fund supporting small and medium- Equity funds       Private     2000        5,400         0       450           0         450
Republic    investment     Facility                      SME Fund                sized enterprises.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project        Description                                       Sector            Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Czech       Direct         Harpen district heating        -                  Modernisation of district heating services and the Municipal and    Private     2000      41,125      16,171        0           0      16,171
Republic    investment                                                       provision of hot water.                            environmental
                                                                                                                                infrastructure


Czech       Regional       Raiffeisen EU Enlargement      -                  Private equity fund supporting small and medium- Equity funds       Private     2001       6,831          0     3,291           0       3,291
Republic    investment     Fund                                              sized enterprises in central and eastern Europe.




Czech       Regional       DVI Inc                        -                  Provision of medical equipment for hospitals and Insurance and      Private     2001       4,260       1,130        0           0       1,130
Republic    investment                                                       diagnostic centres.                              financial
                                                                                                                              services


Czech       Direct         EU/EBRD SME Finance            Ceska Sporitelna   Financing for small and medium-sized              Bank lending      Private     2000      20,000      20,000        0           0      20,000
Republic    investment     Facility                                          enterprises.




Czech       Regional       Innova/3                       -                  Private equity fund supporting small and medium- Equity funds       Private     2001      37,665          0     4,465           0       4,465
Republic    investment                                                       sized enterprises.




Czech       Regional       Private Equity Fund Facility   Trigranit          Equity investment in leading commercial property Property and       Private     2001       2,874          0       577           0         577
Republic    investment                                                       developer and operator.                          tourism




Czech       Regional       Spearhead International        -                  Expansion of food supplier’s operations.          Agribusiness      Private     2001       5,489       5,489        0           0       5,489
Republic    investment




Czech       Direct         Soufflet Malting Czech         -                  Improvement of malt and barley production         Agribusiness      Private     2001      29,000       5,000    5,000           0      10,000
Republic    investment                                                       efficiency.




Czech       Regional       IKB co-financing risk          -                  Unfunded risk participation facility for companies Bank lending     Private     2001       1,178          0         0       1,178       1,178
Republic    investment     participation agreement                           in the Czech Republic.
                           (guarantee)


Czech       Direct         Dalkia Usti Nad Labem          -                  Refinancing of existing bonds in combined heat    Municipal and     Private     2001      70,438      19,056        0           0      19,056
Republic    investment                                                       and power (CHP) plant.                            environmental
                                                                                                                               infrastructure




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project          Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Czech       Direct         Soufflet Malting Czech        -                    Improvement of malt and barley production           Agribusiness    Private     2002      38,365      13,365        0           0      13,365
Republic    investment                                                        efficiency.




Czech       Regional       DBG Osteuropa Holding         -                    Private equity fund supporting medium-sized         Equity funds    Private     2003      22,440          0     6,800           0       6,800
Republic    investment     GmbH                                               enterprises.




Czech       Direct         Genesis Private Equity Fund   -                    Private equity fund supporting small and medium- Equity funds       Private     2003      30,000          0     6,000           0       6,000
Republic    investment                                                        sized enterprises.




Czech       Direct         EU/EBRD SME Finance           Raiffeisen           Financing for small and medium-sized                Bank lending    Private     2002      10,000       3,500        0           0       3,500
Republic    investment     Facility                                           enterprises.




Czech       Direct         TES Media                     -                    Acquisition of Intercable CZ, the second-largest    Telecoms,       Private     2002      53,106      11,483        0           0      11,483
Republic    investment                                                        Czech cable TV operator, and development of         informatics and
                                                                              merged entity.                                      media


Czech       Regional       Heitman Central Europe        -                    Investment in property projects, primarily office   Property and    Private     2002      24,799          0     8,050           0       8,050
Republic    investment     Property Partners Fund                             buildings, warehousing/distribution and retail      tourism
                                                                              shopping centres.


Czech       Direct         Siemens – SKV                 -                    Upgrade of rail car and train manufacturing plant. Transport        Private     2003       6,503       6,503        0           0       6,503
Republic    investment




Czech       Regional       Orco Aparthotels              -                    Expansion of extended-stay hotel chain.             Property and    Private     2003      17,725          0     1,263         632       1,895
Republic    investment                                                                                                            tourism




Czech       Regional       Accession Fund                -                    Property investments in the Czech Republic.         Property and    Private     2004      60,000          0    15,000           0      15,000
Republic    investment                                                                                                            tourism




Czech       Direct         EU/EBRD SME Finance           Raiffeisen Leasing   Financing for small and medium-sized                Insurance and   Private     2003       5,000       5,000        0           0       5,000
Republic    investment     Facility                                           enterprises.                                        financial
                                                                                                                                  services




   All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project            Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Czech       Direct         EU/EBRD SME Finance            Ceska Sporitelna       Financing for small and medium-sized              Bank lending    Private     2003      10,000      10,000        0           0      10,000
Republic    investment     Facility                                              enterprises.




Czech       Regional       EU/EBRD SME Finance            SG Equipment Finance   Financing for small and medium-sized              Insurance and   Private     2003      29,189      29,189        0           0      29,189
Republic    investment     Facility                                              enterprises.                                      financial
                                                                                                                                   services


Czech       Direct         Volksbank CZ subordinated      -                      Financing for individuals, small businesses and   Bank lending    Private     2003      10,000      10,000        0           0      10,000
Republic    investment     loan                                                  municipalities.




Czech       Regional       Raiffeisen International       -                      Equity investment supporting growth of            Bank equity     Private     2004       6,000          0     3,000           0       3,000
Republic    investment                                                           Raiffeisen International's business in Bosnia and
                                                                                 Herzegovina.


Czech       Regional       Private Equity Fund Facility   Trigranit              Equity investment in leading commercial property Property and     Private     2004      13,560          0       240           0         240
Republic    investment                                                           developer and operator.                          tourism




Czech       Regional       Polish Enterprise Fund V       -                      Private equity fund investing in enterprises in   Equity funds    Private     2004       2,790          0     2,790           0       2,790
Republic    investment                                                           Czech Republic.




Czech       Regional       Advent Central and Eastern     -                      Private equity fund investing in the Czech        Equity funds    Private     2004      33,047          0     5,000           0       5,000
Republic    investment     Europe Successor Fund                                 Republic.




Czech       Direct         Grandi Stazioni Ceska          -                      Refurbishment and management of three railway Transport           Private     2004      31,300          0     3,800           0       3,800
Republic    investment     Republika                                             stations.




Czech       Direct         Spearhead (Eurofarms)          -                      Expansion of food supplier’s operations.          Agribusiness    Private     2003       5,391       5,391        0           0       5,391
Republic    investment




Czech       Regional       Europolis II                   -                      Development of commercial property projects.      Property and    Private     2004      17,162       1,624    2,165           0       3,788
Republic    investment                                                                                                             tourism




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project              Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Czech       Direct         EU/EBRD SME Finance          Komercni Banka           Financing for small and medium-sized               Bank lending     Private     2004       20,000     20,000        0           0      20,000
Republic    investment     Facility                                              enterprises.




Czech       Direct         Oskar Mobil                  -                        Financing of mobile operator’s GSM expenditure Telecoms,       Private          2004      325,000     25,000        0           0      25,000
Republic    investment                                                           and upgrade of network technology.             informatics and
                                                                                                                                media


Czech       Direct         EU/EBRD SME Finance          Deutsche Leasing Ceska   Credit line for on-lending to small and medium-    Insurance and    Private     2005       10,583     10,583        0           0      10,583
Republic    investment     Facility                                              sized businesses.                                  financial
                                                                                                                                    services


Czech       Direct         EU/EBRD Rural Financing      S Morava Leasing Czech   Credit line for on-lending to small and medium-    Insurance and    Private     2006        5,365      5,365        0           0       5,365
Republic    investment     Facility                                              sized businesses.                                  financial
                                                                                                                                    services


Czech       Regional       TIW Czech N.V                -                        Equity investment in wireless                      Telecoms,       Private      2005       11,969         0    11,969           0      11,969
Republic    investment                                                           telecommunications service provider.               informatics and
                                                                                                                                    media


Czech       Regional       Véolia Voda                  -                        Equity investment in Véolia Voda enabling it to    Municipal and    Private     2007       27,300         0    27,300           0      27,300
Republic    investment                                                           expand in central and eastern Europe, Russian      environmental
                                                                                 and Ukraine.                                       infrastructure


Czech       Regional       Argus Capital Partners II    -                        Private equity fund supporting medium-sized        Equity funds     Private     2005        4,000         0     4,000           0       4,000
Republic    investment                                                           enterprises. Successor to the Argus Capital
                                                                                 Partners fund.


Czech       Direct         EU/EBRD Rural Financing      IMPULS-Leasing-          Credit line for on-lending to small and medium-    Insurance and    Private     2006        5,303      5,303        0           0       5,303
Republic    investment     Facility                     AUSTRIA                  sized businesses.                                  financial
                                                                                                                                    services


Czech       Regional       Emerging Europe              -                        Direct equity fund investing in central and eastern Equity funds    Private     2005        4,200         0     4,200           0       4,200
Republic    investment     Convergence Fund II                                   Europe.




Czech       Regional       Véolia Transport (formerly   -                        Equity funding to expand transport services.       Municipal and    Private     2005       47,048         0    15,298           0      15,298
Republic    investment     Connex)                                                                                                  environmental
                                                                                                                                    infrastructure




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name               Sub project         Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Czech       Regional       Capital Media              -                   Long-term financing enabling extension of           Telecoms,       Private     2006      16,000       8,000        0           0       8,000
Republic    investment                                                    operations for TV broadcaster operating in          informatics and
                                                                          central and eastern Europe.                         media


Czech       Regional       EU/EBRD Rural Financing    Societe Generale    Credit line for on-lending to small and medium-     Insurance and   Private     2006       9,000       9,000        0           0       9,000
Republic    investment     Facility                   Equipment Finance   sized businesses.                                   financial
                                                                                                                              services


Czech       Regional       SG AM Eastern Europe       -                   Investment in consumer services and                 Equity funds    Private     2005       5,940          0     3,300           0       3,300
Republic    investment                                                    manufacturing companies.




Czech       Regional       Alpha CEE II               -                   Diversified regional private equity fund dedicated Equity funds     Private     2006       5,000          0     5,000           0       5,000
Republic    investment                                                    to central and eastern Europe.




Czech       Regional       Royalton Partners II       -                   Equity financing for local service providers.       Equity funds    Private     2007       5,000          0     5,000           0       5,000
Republic    investment




Czech       Direct         EU/EBRD Mortgage Finance   Komercni banka      Credit facility for on-lending as medium to long-   Bank lending    Private     2006      10,000      10,000        0           0      10,000
Republic    investment     Facility                                       term loans.




Czech       Regional       AIG New Europe Fund II     -                   Regional private equity fund investing in equity  Equity funds      Private     2006       5,000          0     5,000           0       5,000
Republic    investment                                                    and equity securities of companies in central and
                                                                          south-eastern Europe, subsidiary of AIG Global
                                                                          Investment Group.

Czech       Regional       Syntaxis Mezzanine Fund    -                   Fund with a portfolio of Central European           Equity funds    Private     2007       2,600          0     2,500           0       2,500
Republic    investment                                                    investments, in various sectors.




Czech       Regional       IØ Fund                    -                   Co-financing for small and medium-sized             Equity funds    Private     1995       2,984          0     2,984           0       2,984
Republic    investment                                                    enterprises.




Czech       Regional       Capital Media              -                   Development and restructuring of TV                 Telecoms,       Private     2007       8,000       4,000        0           0       4,000
Republic    investment                                                    broadcasting group.                                 informatics and
                                                                                                                              media




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                     Sub project   Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Czech       Regional       Advent Central and Eastern       -             Support investment into central and south-       Equity funds     Private     2008       5,000          0     5,000           0       5,000
Republic    investment     Europe IV                                      eastern European and Ukrainian companies.




Czech       Regional       ViaOne                           -             Equity investment to support the commercial      Telecoms,       Private      2008         847          0       500           0         500
Republic    investment                                                    launch and development of ViaOne Europa          informatics and
                                                                          Holding's software platforms.                    media


Czech       Direct         Soufflet Malting Czech II        -             Supporting a malt producer.                      Agribusiness     Private     2008      10,000      10,000        0           0      10,000
Republic    investment




Czech       Regional       ARX Private Equity Fund          -             Support for investment to companies operating in Equity funds     Private     2008       6,000          0     6,000           0       6,000
Republic    investment                                                    central and south-eastern Europe.




Czech       Regional       Genesis Private Equity Fund II -               Equity in a fund investing in mid-market         Equity funds     Private     2009      21,000          0     6,000           0       6,000
Republic    investment                                                    companies in the Czech Republic and Slovak
                                                                          Republic.


Estonia     Direct         Tallinn Water and environment -                Upgrade and expansion of waste-water             Municipal and    State       1994      74,562      22,723        0           0      22,723
            investment     project                                        treatment plant and development of new ground    environmental
                                                                          water well fields.                               infrastructure


Estonia     Direct         Tallinn Airport rehabilitation   -             Upgrade and construction of runways and          Transport        State       1994       9,193       7,942        0           0       7,942
            investment                                                    taxiways.




Estonia     Regional       First NIS Regional Fund          -             Equity fund investing in companies in the New    Equity funds     Private     1994         518          0       310           0         310
            investment                                                    Independent States (NIS).




Estonia     Direct         Estline Marine Company Ltd       -             Expansion of Estline ferry service operating     Transport        Private     1993      39,295      17,551        0           0      17,551
            investment                                                    between Tallinn and Stockholm.




Estonia     Direct         Emergency energy sector          -             Completion of fuel oil import and storage        Power and        State       1992      26,503      24,687        0           0      24,687
            investment     investment                                     facilities, provisions for power stations and    energy
                                                                          district heating systems.




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Estonia     Direct         Sampo Pank                   -             Financing for small and medium-sized               Bank lending     Private     1994       7,568       3,784        0           0       3,784
            investment                                                enterprises.




Estonia     Regional       Baltic Investment Fund       -             Private equity fund investing in medium-sized      Equity funds     Private     1995       7,171          0     2,169           0       2,169
            investment                                                companies.




Estonia     Direct         Small municipalities         -             Improvement of quality and reliability of water    Municipal and    State       1995      46,025      10,226        0           0      10,226
            investment     environment project                        supplies and waste-water treatment services.       environmental
                                                                                                                         infrastructure


Estonia     Direct         Hansapank                    -             Medium-term financing for on-lending to private    Bank lending     Private     1994      17,192       2,556        0           0       2,556
            investment                                                sector companies.




Estonia     Direct         Estonian Investment Bank     -             Medium and long-term financing for small and       Bank equity      Private     1994       4,500          0     1,500           0       1,500
            investment                                                medium-sized enterprises and companies
                                                                      undergoing privatisation.


Estonia     Direct         Eurovision                   -             Design, supply and installation of earth station   Telecoms,       State        1995         598        598         0           0         598
            investment                                                linked to the Eurovision Network via satellite.    informatics and
                                                                                                                         media


Estonia     Direct         Hansapank                    -             Medium-term financing for on-lending to private    Bank equity      Private     1995      11,455       2,429    1,214           0       3,643
            investment                                                sector companies.




Estonia     Direct         Hansapank                    -             Equity investment in commercial bank.              Bank equity      Private     1995       1,889          0     1,889           0       1,889
            investment




Estonia     Direct         Eesti Uhispank credit line   -             Financing for micro and small enterprises.         Bank lending     Private     1995       8,692       8,692        0           0       8,692
            investment




Estonia     Direct         Hansapank                    -             Medium-term financing for on-lending to private    Bank lending     Private     1996         294        294         0           0         294
            investment                                                sector companies.




   All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                       Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                              (€ 000)
Estonia     Direct         Hansapank housing loan        -             Credit line providing long-term mortgage loans.   Bank lending   Private     1996       6,136       6,136        0           0       6,136
            investment




Estonia     Direct         Eesti Uhispank credit line    -             Financing for micro and small enterprises.        Bank lending   Private     1996       6,136       4,346        0           0       4,346
            investment




Estonia     Direct         Sampo Pank                    -             Financing for small and medium-sized              Bank lending   Private     1996       6,136       6,136        0           0       6,136
            investment                                                 enterprises.




Estonia     Direct         Eesti Maapank                 -             Expansion of business operations and increased Bank equity       Private     1997       1,540          0     1,540           0       1,540
            investment                                                 lending to private sector enterprises.




Estonia     Direct         Hansapank housing loan        -             Credit line providing long-term mortgage loans.   Bank lending   Private     1997       7,669       7,669        0           0       7,669
            investment




Estonia     Regional       Baltic Small Equity Fund      -             Investment in small companies which are unable Equity funds      Private     1997       3,004          0     1,439           0       1,439
            investment                                                 to access early-stage equity capital.




Estonia     Direct         Eesti Uhispank housing loan   -             Credit line providing long-term mortgage loans.   Bank lending   Private     1997       6,136       6,136        0           0       6,136
            investment




Estonia     Direct         Eesti Uhispank credit line    -             Financing for micro and small enterprises.        Bank lending   Private     1997       2,556       2,556        0           0       2,556
            investment




Estonia     Direct         Sampo Pank                    -             Financing for small and medium-sized              Bank lending   Private     1997       2,045       2,045        0           0       2,045
            investment                                                 enterprises.




Estonia     Direct         Tallinn Airport               -             Improvement of passenger terminal and             Transport      State       1999      23,094       7,572        0           0       7,572
            investment                                                 provision of additional space for commercial
                                                                       activities.




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Estonia     Direct         Hansapank subordinated debt -               Capitalisation of Hansapank, expansion of            Bank lending    Private     1997       7,669       7,669        0           0       7,669
            investment                                                 business activities and fulfilment of new national
                                                                       prudential requirements.


Estonia     Regional       Baring Communications         -             Private equity fund targeting the media and          Telecoms,       Private     1997       2,209          0       496           0         496
            investment                                                 communications sector.                               informatics and
                                                                                                                            media


Estonia     Regional       Communication and             -             Private equity fund targeting the media and          Telecoms,       Private     1999       2,634          0       796           0         796
            investment     Information Technology Fund                 communications sector.                               informatics and
                                                                                                                            media


Estonia     Direct         Imavere sawmill expansion     -             Purchase and installation of sawmill line, new       Manufacturing   Private     1997      16,766       7,056        0           0       7,056
            investment                                                 boiler house and dry kilns.                          and services




Estonia     Direct         Hansapank subordinated debt -               Capitalisation of Hansapank, expansion of            Bank equity     Private     1997      25,513      12,756   12,756           0      25,513
            investment                                                 business activities and fulfilment of new national
                                                                       prudential requirements.


Estonia     Direct         Hansapank subordinated debt -               Capitalisation of Hansapank, expansion of            Bank lending    Private     1998       7,669       7,669        0           0       7,669
            investment                                                 business activities and fulfilment of new national
                                                                       prudential requirements.


Estonia     Direct         Eesti Uhispank subordinate    -             Long-term financing for on-lending to private        Bank lending    Private     1998       5,113       5,113        0           0       5,113
            investment     loan                                        sector companies.




Estonia     Regional       Innova/98                     -             Private equity fund supporting small and medium- Equity funds        Private     1998       1,714          0       398           0         398
            investment                                                 sized enterprises.




Estonia     Direct         Eesti Uhispank subordinate    -             Long-term financing for on-lending to private        Bank lending    Private     1998      20,452      16,617        0           0      16,617
            investment     loan                                        sector companies.




Estonia     Direct         AS Norma                      -             Modernisation of car safety belt manufacturer’s      Manufacturing   Private     1998       8,101       4,090        0           0       4,090
            investment                                                 equipment and technology, and renovation of          and services
                                                                       production facilities.




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project      Description                                           Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Estonia     Regional       Emerging Europe Capital      -                Direct equity fund investing in central and eastern Equity funds      Private     1999       7,343          0     2,335           0       2,335
            investment     Investors LDC                                 Europe.




Estonia     Direct         Hansapank subordinated debt -                 Capitalisation of Hansapank, expansion of             Bank equity     Private     1998      10,205       5,103    5,103           0      10,205
            investment                                                   business activities and fulfilment of new national
                                                                         prudential requirements.


Estonia     Direct         Baltex 2000 / Qualitex       -                Modernisation of woven cotton fabric mill and         Manufacturing   Private     1998      25,278       5,177    1,726           0       6,902
            investment                                                   construction of knitting mill with dyeing/finishing   and services
                                                                         line.


Estonia     Direct         Hansapank syndicated loan    -                Financing for small and medium-sized                  Bank lending    Private     1998      76,693      25,564        0           0      25,564
            investment                                                   enterprises and strengthening of the financial
                                                                         sector.


Estonia     Direct         Hansapank syndicated leasing -                Financial support for commercial vehicles, real Insurance and         Private     1999      40,000      13,333        0           0      13,333
            investment     finance facility                              estate, industrial equipment, cars and agricultural financial
                                                                         machinery.                                          services


Estonia     Direct         Imavere sawmill expansion    -                Purchase and installation of sawmill line, new        Manufacturing   Private     1999       7,383       5,113        0           0       5,113
            investment                                                   boiler house and dry kilns.                           and services




Estonia     Regional       Baltic Investment Fund       -                Private equity fund investing in medium-sized         Equity funds    Private     2000      17,985          0     3,300           0       3,300
            investment                                                   companies.




Estonia     Direct         MSE facility                 Hansapank        Financing for micro and small enterprises.            Bank lending    Private     2000      16,935       5,000        0           0       5,000
            investment




Estonia     Direct         Baltic Food Holding          -                Acquisition of new supermarkets, upgrade of           Agribusiness    Private     2000      34,902          0     5,496           0       5,496
            investment                                                   existing stores and expansion of wholesale
                                                                         operations.


Estonia     Direct         MSE facility                 Eesti Uhispank   Financing for micro and small enterprises.            Bank lending    Private     2000      11,000       3,000        0           0       3,000
            investment




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project       Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Estonia     Regional       DVI Inc                       -                 Provision of medical equipment for hospitals and Insurance and     Private     2001        2,130       565         0           0         565
            investment                                                     diagnostic centres.                              financial
                                                                                                                            services


Estonia     Regional       EU/EBRD SME Finance           Baltic SME Fund   Private equity fund supporting small and medium- Equity funds      Private     2001        5,528         0       990           0         990
            investment     Facility                                        sized enterprises.




Estonia     Regional       Kesko Baltics                 -                 Expansion of food retailer’s businesses through   Agribusiness     Private     2001       47,000      5,450        0           0       5,450
            investment                                                     the acquisition and development of retail
                                                                           properties.


Estonia     Direct         EU/EBRD SME Finance           Sampo Pank        Financing for small and medium-sized              Bank lending     Private     2000        8,000      8,000        0           0       8,000
            investment     Facility                                        enterprises.




Estonia     Direct         Tallinn Water privatisation   -                 Financing for post-privatisation investment       Municipal and    Private     2002      172,798     54,999        0           0      54,999
            investment                                                     programme to facilitate private sector            environmental
                                                                           involvement in water and waste-water services.    infrastructure


Estonia     Direct         Imavere sawmill expansion     -                 Purchase and installation of sawmill line, new    Manufacturing    Private     2002       12,300      7,000        0           0       7,000
            investment                                                     boiler house and dry kilns.                       and services




Estonia     Regional       Fiesta                        -                 Expansion of food retailer’s businesses through   Agribusiness     Private     2001       12,158      6,890        0           0       6,890
            investment                                                     the acquisition and development of retail
                                                                           properties.


Estonia     Regional       Pleskodale                    -                 Expansion of food retailer’s operations.          Agribusiness     Private     2001        5,781      3,751        0           0       3,751
            investment




Estonia     Direct         LHV Asset Management          -                 Investment in private pension fund management Insurance and        Private     2002        3,006         0     1,303           0       1,303
            investment                                                     company.                                      financial
                                                                                                                         services


Estonia     Regional       Askembla Growth Fund          -                 Private equity fund supporting medium-sized       Equity funds     Private     2002       18,180         0     5,000           0       5,000
            investment                                                     enterprises.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project     Description                                           Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Estonia     Regional       EU/EBRD SME Finance          Hansa Capital   Financing for small and medium-sized                  Insurance and    Private     2003       10,200      5,100        0           0       5,100
            investment     Facility                                     enterprises.                                          financial
                                                                                                                              services


Estonia     Regional       Heitman Central Europe       -               Investment in property projects, primarily office     Property and     Private     2002        3,235         0     1,050           0       1,050
            investment     Property Partners Fund                       buildings, warehousing/distribution and retail        tourism
                                                                        shopping centres.


Estonia     Direct         Tallinn Airport              -               Improvement of passenger terminal and                 Transport        State       2002        7,251      7,251        0           0       7,251
            investment                                                  provision of additional space for commercial
                                                                        activities.


Estonia     Regional       Orco Aparthotels             -               Expansion of extended-stay hotel chain.               Property and     Private     2003       16,362         0     1,166         583       1,749
            investment                                                                                                        tourism




Estonia     Regional       International Water United   -               Acquisition of three water utility companies.         Municipal and    Private     2003       30,680         0    11,180           0      11,180
            investment     Utilities                                                                                          environmental
                                                                                                                              infrastructure


Estonia     Direct         Estonian Cell                -               Construction and operation of pulp mill.              Manufacturing    Private     2004      155,333     10,667    5,333       5,333      21,333
            investment                                                                                                        and services




Estonia     Regional       Polish Enterprise Fund V     -               Private equity fund investing in enterprises in       Equity funds     Private     2004        1,395         0     1,395           0       1,395
            investment                                                  Estonia.




Estonia     Regional       Europolis II                 -               Development of commercial property projects.          Property and     Private     2004       10,297       974     1,299           0       2,273
            investment                                                                                                        tourism




Estonia     Direct         Baltex 2000 / Qualitex       -               Modernisation of woven cotton fabric mill and         Manufacturing    Private     1998        1,800      1,800        0           0       1,800
            investment                                                  construction of knitting mill with dyeing/finishing   and services
                                                                        line.


Estonia     Regional       Argus Capital Partners II    -               Private equity fund supporting medium-sized           Equity funds     Private     2005         200          0       200           0         200
            investment                                                  enterprises. Successor to the Argus Capital
                                                                        Partners fund.




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Estonia     Regional       Emerging Europe               -             Direct equity fund investing in central and eastern Equity funds   Private     2005       3,600          0     3,600           0       3,600
            investment     Convergence Fund II                         Europe.




Estonia     Regional       SG AM Eastern Europe          -             Investment in consumer services and                Equity funds    Private     2005       5,940          0     3,300           0       3,300
            investment                                                 manufacturing companies.




Estonia     Regional       Royalton Partners II          -             Equity financing for local service providers.      Equity funds    Private     2007       2,500          0     2,500           0       2,500
            investment




Estonia     Regional       Baltcap Private Equity Fund   -             Private equity fund investing primarily in Estonia, Equity funds   Private     2007       6,000          0     6,000           0       6,000
            investment                                                 Latvia, and Lithuania.




Estonia     Regional       Post Privatisation Fund       -             Equity fund supporting financial and operational   Equity funds    Private     1996       6,803          0     6,803           0       6,803
            investment                                                 restructuring of medium-sized enterprises.




Estonia     Regional       IØ Fund                       -             Co-financing for small and medium-sized            Equity funds    Private     1995         746          0       746           0         746
            investment                                                 enterprises.




Estonia     Regional       EnerCap                       -             Private equity fund dedicated to investing in   Power and          Private     2007      10,000          0     2,500           0       2,500
            investment                                                 renewable energy and energy efficiency projects energy
                                                                       in central and south-eastern Europe.


Estonia     Direct         Iberdrola Estonia Wind        -             Equity investment to support building of a wind    Power and       Private     2008       3,500          0       900           0         900
            investment                                                 farm.                                              energy




Estonia     Direct         FreEnergy Renewable Energy -                Equity investment to fund the construction and     Power and       Private     2009      28,892          0    18,858           0      18,858
            investment     Investment Company                          operation of wind power projects in Estonia,       energy
                                                                       Latvia and Lithuania.


Estonia     Regional       Syntaxis Mezzanine Fund II    -             Equity in a regional fund which aims to            Equity funds    Private     2009      12,500          0     2,500           0       2,500
            investment                                                 strengthen corporate governance and build
                                                                       institutions.




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project    Description                                         Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Estonia     Regional       Resource Eastern European       -              Support for institution building and expansion of   Equity funds   Private     2009       4,200          0     1,250           0       1,250
            investment     Equity Partners I                              private equity, business improvement and best
                                                                          ethics and governance.


Estonia     Regional       Heitman Eastern European        -              An equity investment into Heitman European          Property and   Private     2009      18,220          0     3,000           0       3,000
            investment     Property Fund                                  Property Partners IV, an investment vehicle         tourism
                                                                          pursuing long-term capital appreciation through
                                                                          real estate investments.

Estonia     Regional       Almaz Capital Russia Fund I     -              The Fund will make equity and equity-related   Equity funds        Private     2009       1,345          0       416           0         416
            investment                                                    venture capital investments in companies based
                                                                          in Russia and the CIS.


FYR         Direct         Komercijalna Banka              -              Trade facility to guarantee Komercijalna       Bank lending        Private     1994       4,161          0         0       4,161       4,161
Macedonia   investment                                                    Macedonia Banka’s correspondent banks against
                                                                          non-payment under confirmed letters of credit.


FYR         Direct         Elektrostopanstvo na            -              Privatisation and restructuring of power utility.   Power and      State       1993      26,948      17,336        0           0      17,336
Macedonia   investment     Makedonija                                                                                         energy




FYR         Direct         Air navigation system upgrade -                Upgrade of existing air navigation system and       Transport      State       1994      11,826       9,502        0           0       9,502
Macedonia   investment                                                    establishment of the Skopje Flight Information
                                                                          Region.


FYR         Direct         Macedonian                      -              Privatisation of Macedonian Telecommunications Telecoms,       State           1995      56,819      29,424        0           0      29,424
Macedonia   investment     Telecommunications                             and additional regulatory development.         informatics and
                                                                                                                         media


FYR         Direct         Skopje airport rehabilitation   -              Upgrade of airport facilities, including            Transport      State       1995      11,226       9,007        0           0       9,007
Macedonia   investment                                                    improvement of runway, taxiways and lighting
                                                                          system.


FYR         Direct         Komercijalna Banka              -              Expansion of financial products available to         Bank equity   Private     1996       7,699       5,133    2,566           0       7,699
Macedonia   investment                                                    private sector clients, assisting with privatisation
                                                                          and restructuring.


FYR         Direct         SME finance facility            Almako Banka   Credit line to assist small and medium-sized        Bank lending   Private     1995       3,068       3,068        0           0       3,068
Macedonia   investment                                                    enterprises.




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of       Project name                  Sub project              Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
FYR         Direct        SME finance facility          Export Import Banka      Credit line to assist small and medium-sized        Bank lending     Private     1995       3,068       3,068        0           0       3,068
Macedonia   investment                                                           enterprises.




FYR         Direct        SME finance facility          Makedonska Banka         Credit line to assist small and medium-sized        Bank lending     Private     1995       4,699       4,699        0           0       4,699
Macedonia   investment                                                           enterprises.




FYR         Direct        SME finance facility          Stopanska Banka          Credit line to assist small and medium-sized        Bank lending     Private     1995       7,669       7,669        0           0       7,669
Macedonia   investment                                                           enterprises.




FYR         Direct        Small Enterprise Assistance   -                        Equity and quasi-equity investments in small and Equity funds        Private     1999       8,948          0     2,706           0       2,706
Macedonia   investment    Fund                                                   medium-sized enterprises.




FYR         Direct        SME finance facility          Export and Credit Bank   Credit line to assist small and medium-sized        Bank lending     Private     1996       1,534       1,534        0           0       1,534
Macedonia   investment                                                           enterprises.




FYR         Direct        Makstil                       -                        Modernisation of steel making and casting           Manufacturing    Private     1998      48,547      10,403        0           0      10,403
Macedonia   investment                                                           facilities and plate mill.                          and services




FYR         Direct        Alkaloid-AD                   -                        Upgrade and modernisation of pharmaceutical         Manufacturing    Private     1999      36,384       4,900        0           0       4,900
Macedonia   investment                                                           production facilities.                              and services




FYR         Direct        Export and Credit Bank        -                        Equity investment in Export and Credit Bank.        Bank equity      Private     2000       3,063          0     3,063           0       3,063
Macedonia   investment




FYR         Direct        Municipal and Environmental   -                        Construction, upgrade and extension of water        Municipal and    State       2000      37,531      16,443        0           0      16,443
Macedonia   investment    Action Programme (MEAP)                                and waste-water infrastructure in five utilities.   environmental
                                                                                                                                     infrastructure


FYR         Direct        Emergency GSM extension       -                        Emergency extension of mobile GSM network           Telecoms,       Private      1999      13,989      13,989        0           0      13,989
Macedonia   investment    and network modernisation                              and modernisation of information system.            informatics and
                                                                                                                                     media




  All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of       Project name                    Sub project          Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
FYR         Direct        Stopanska Banka                 -                    Privatisation and restructuring of largest bank in   Bank equity     Private     1999       78,731      9,189        0           0       9,189
Macedonia   investment                                                         FYR Macedonia.




FYR         Direct        Regional Trade Facilitation     Komercijalna Banka   Support for foreign trade.                           Bank lending    Private     1999        3,730         0         0       3,730       3,730
Macedonia   investment    Programme




FYR         Direct        Thessaloniki-Skopje crude oil   -                    Construction of crude oil pipeline from Hellenic   Natural           Private     2001       72,821     17,338        0           0      17,338
Macedonia   investment    pipeline                                             Petroleum’s facilities at Thessaloniki to the Okta Resources
                                                                               refinery at Skopje.


FYR         Direct        US/EBRD SME Finance             ProCredit Bank       Establishment of microcredit institution.            Small business Private      2003       12,875      3,750    3,750           0       7,500
Macedonia   investment    Facility                                                                                                  finance




FYR         Direct        Regional Trade Facilitation     Tutunska Banka       Support for foreign trade.                           Bank lending    Private     2000        8,762         0         0       8,762       8,762
Macedonia   investment    Programme




FYR         Regional      TBIH Financial Services         -                    Expansion of insurance and pension operations        Insurance and   Private     2000         915        184       367           0         551
Macedonia   investment                                                         in central and eastern Europe.                       financial
                                                                                                                                    services


FYR         Direct        Regional roads project          -                    Upgrade of high priority roads and construction      Transport       State       2003      147,320     40,000        0           0      40,000
Macedonia   investment                                                         of Skopje bypass (phase 2).




FYR         Direct        Civil aviation upgrade          -                    Improvement of flight safety, management of air Transport            State       2002       13,293     10,613        0           0      10,613
Macedonia   investment                                                         traffic and operation of second Macedonian
                                                                               airport.


FYR         Regional      Black Sea Fund                  -                    Equity investment in medium-sized local              Equity funds    Private     2002        1,379         0       420           0         420
Macedonia   investment                                                         enterprises and facilitation of foreign direct
                                                                               investment in the region.


FYR         Direct        Elektrostopanstvo na            -                    Construction of transmission line and upgrade of Power and           State       2003       46,391     36,771        0           0      36,771
Macedonia   investment    Makedonija                                           substations.                                     energy




  All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of       Project name                 Sub project              Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
FYR         Direct        Stopanska Banka              -                        Privatisation and restructuring of largest bank in   Bank equity     Private     2002      17,066       1,836        0           0       1,836
Macedonia   investment                                                          FYR Macedonia.




FYR         Direct        Elektrostopanstvo na         -                        Purchase of shares in power utility to support its   Power and       Private     2004      20,250          0    20,250           0      20,250
Macedonia   investment    Makedonija                                            restructuring and privatisation.                     energy




FYR         Direct        Prilep Marble Kombinat       -                        Modernisation of marble quarrying and                Manufacturing   Private     2003       8,000       5,000        0           0       5,000
Macedonia   investment                                                          processing company.                                  and services




FYR         Direct        Direct Investment Facility   Kimico Gardine           Expansion of textile company's product range.        Manufacturing   Private     2003       2,150          0     2,150           0       2,150
Macedonia   investment                                                                                                               and services




FYR         Direct        Tutunska Banka               -                        Provision of short and medium-term loans to          Bank lending    Private     2004      20,000       7,000        0           0       7,000
Macedonia   investment                                                          private sector corporate customers.




FYR         Direct        Zito Luks                    -                        Expansion of baked goods producer.                   Agribusiness    Private     2004       8,000       8,000        0           0       8,000
Macedonia   investment




FYR         Regional      Migros Foodstores Skopje     -                        Expansion of retailer’s operations in Bulgaria and Agribusiness      Private     2004      15,501      10,066        0           0      10,066
Macedonia   investment                                                          FYR Macedonia.




FYR         Direct        SME finance facility         Export and Credit Bank   Credit line to assist small and medium-sized         Bank lending    Private     2004       5,000       5,000        0           0       5,000
Macedonia   investment                                                          enterprises.




FYR         Regional      Europolis II                 -                        Development of commercial property projects.         Property and    Private     2004      17,162       1,624    2,165           0       3,788
Macedonia   investment                                                                                                               tourism




FYR         Direct        Mittal Steel Skopje          -                        Energy efficiency investments and working            Manufacturing   Private     2005      20,357      20,357        0           0      20,357
Macedonia   investment                                                          capital.                                             and services




  All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of       Project name                  Sub project        Description                                         Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
FYR         Regional      Argus Capital Partners II     -                  Private equity fund supporting medium-sized         Equity funds   Private     2005         200          0       200           0         200
Macedonia   investment                                                     enterprises. Successor to the Argus Capital
                                                                           Partners fund.


FYR         Direct        Western Balkans SME           Invest Banka       Credit line for on-lending to small and medium-     Bank lending   Private     2005       4,000       4,000        0           0       4,000
Macedonia   investment    Finance Facility                                 sized businesses




FYR         Direct        Regional Trade Facilitation   Invest Banka       Support for foreign trade.                          Bank lending   Private     2005         275          0         0         275         275
Macedonia   investment    Programme




FYR         Regional      European Fund for Southeast   -                  Privately managed public/private investment fund Small business Private        2006       2,000          0     2,000           0       2,000
Macedonia   investment    Europe                                           which will provide financing for micro, small and finance
                                                                           medium-sized businesses as well as housing
                                                                           and rural finance in south-eastern Europe.

FYR         Direct        Teteks Kreditna/Tetovska      -                  Equity investment to increase capital base of       Bank equity    Private     2006       4,000          0     4,000           0       4,000
Macedonia   investment    Banka                                            new bank formed by merger of TKB and TEB.




FYR         Direct        Teteks Kreditna/Tetovska      -                  Credit line to for on-lending to small and medium- Bank lending    Private     2006       5,500       2,000        0           0       2,000
Macedonia   investment    Banka                                            sized businesses.




FYR         Direct        Western Balkans Local         Vitaminka Prilep   Loan to finance the purchase of packaging and       Agribusiness   Private     2007       4,000       4,000        0           0       4,000
Macedonia   investment    Enterprise Facility                              production lines.




FYR         Regional      Balkan Accession Fund         -                  Finance provided to a private equity fund           Equity funds   Private     2006       5,245          0     1,120           0       1,120
Macedonia   investment                                                     investing in medium-sized businesses.




FYR         Regional      Europolis III                 -                  Equity investment allowing the creation of a        Property and   Private     2006       7,425        630       945           0       1,575
Macedonia   investment                                                     regional portfolio of property assets in Bosnia     tourism
                                                                           and Herzegovina, Bulgaria, FYR Macedonia,
                                                                           Montenegro, Romania, Russia, Serbia and
                                                                           Ukraine.
FYR         Regional      GS Hotels and Resort (Loan)   -                  Loan to leading local hospitality group, based in   Property and   Private     2007      10,756       3,236        0           0       3,236
Macedonia   investment                                                     Dubrovnik.                                          tourism




  All investments 1991- 2009
                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of       Project name                  Sub project   Description                                     Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                            (€ 000)
FYR         Direct        NLB Tutunska Banka            -             Second loan for on-lending to local private     Bank lending    Private     2006      55,000      19,000        0           0      19,000
Macedonia   investment                                                businesses and individuals.




FYR         Direct        Western Balkans MSME          Moznosti      Local currency guarantee facility.              Small business Private      2007       3,000          0         0       3,000       3,000
Macedonia   investment    Framework                                                                                   finance




FYR         Regional      New Europe Venture Equity     -             Private equity fund investing in small and      Equity funds    Private     2007       1,000          0     1,000           0       1,000
Macedonia   investment    Fund (NEVEQ)                                medium-sized technology enterprises primarily
                                                                      located in Bulgaria, FYR Macedonia and
                                                                      Romania.

FYR         Regional      Pharma Investment             -             Investment to help develop a regional           Manufacturing   Private     2008       7,500          0     7,500           0       7,500
Macedonia   investment                                                pharmaceuticals retail network.                 and services




FYR         Direct        Western Balkans Local         Vitalia       Loan to help Vitalia further expand on the      Agribusiness    Private     2007       1,000          0       700           0         700
Macedonia   investment    Enterprise Facility                         Macedonian as well as new, regional markets,
                                                                      develop new branded products and strengthen
                                                                      its direct distribution network.

FYR         Direct        ESM II: Distribution Grid     -             Loan to upgrade the electricity distribution    Power and       Private     2008      70,000      35,000        0           0      35,000
Macedonia   investment    Efficiency Investment                       network.                                        energy




FYR         Regional      GS Hotels and Resorts         -             Equity investment in local hospitality group.   Property and    Private     2007      10,030          0     2,510           0       2,510
Macedonia   investment    (Equity)                                                                                    tourism




FYR         Regional      ViaOne                        -             Equity investment to support the commercial     Telecoms,       Private     2008       1,694          0     1,000           0       1,000
Macedonia   investment                                                launch and development of ViaOne Europa         informatics and
                                                                      Holding's software platforms.                   media


FYR         Regional      CEE Special Situations Fund   CRG Capital   Investment in an equity fund managed by CRG     Equity funds    Private     2009         200          0       200           0         200
Macedonia   investment                                                Partners targeting distressed and under-
                                                                      performing companies.


FYR         Direct        Western Balkans Local         Tikves        Investment to support FYR Macedonian wine       Agribusiness    Private     2008       8,499       2,433    4,866           0       7,299
Macedonia   investment    Enterprise Facility                         producer.




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                            Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
FYR         Direct         Regional and Local Roads        -             Maintenance and upgrading of regional and local Transport              State       2009      132,900     50,000        0           0      50,000
Macedonia   investment     Programme                                     roads.




FYR         Regional       European Fund for SouthEast -                 Support to financial institutions for on-lending to Small business Private         2009       11,550         0     1,650           0       1,650
Macedonia   investment     Europe II                                     MSMEs, as well as for housing and rural finance. finance




FYR         Direct         Local Enterprise Facility       Zdravje       Loan to Zdravje Radovo, to finance the dairy           Agribusiness    Private     2009        1,000      1,000        0           0       1,000
Macedonia   investment                                                   company’s expansion and diversify production.




FYR         Direct         Ohridska Banka                  -             Increasing the availability of financing to the real   Bank lending    Private     2009        5,000      5,000        0           0       5,000
Macedonia   investment                                                   sector with a credit line for on-lending to SMEs.




FYR         Regional       Southeast Europe Energy         -             Financing for energy efficiency projects through       Insurance and   Private     2009        9,488         0     2,500           0       2,500
Macedonia   investment     Efficiency Fund (SE4F)                        local financial institutions.                          financial
                                                                                                                                services


Georgia     Regional       First NIS Regional Fund         -             Equity fund investing in companies in the New          Equity funds    Private     1994         518          0       310           0         310
            investment                                                   Independent States (NIS).




Georgia     Direct         Power rehabilitation            -             Rehabilitation of Gardabani thermal power              Power and       State       1994       16,466     12,549        0           0      12,549
            investment                                                   station and Rioni hydro power station.                 energy




Georgia     Direct         Tbilisi Airport refurbishment   -             Improvement of air-passenger handling                  Transport       State       1995        9,016      7,629        0           0       7,629
            investment                                                   operations and modernisation of facilities.




Georgia     Direct         Absolute Bank                   -             Provision of medium-term credit resources to           Bank equity     Private     1997        1,361       908       454           0       1,361
            investment                                                   private sector enterprises in Georgia.




Georgia     Direct         IBSB Georgia                    -             Start-up capital for commercial bank.                  Bank equity     Private     1996        3,574         0       523           0         523
            investment




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project         Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Georgia     Direct         Borjomi                       -                   Restructuring and revitalisation of mineral water   Agribusiness    Private     1997      19,630       4,623    2,312           0       6,935
            investment                                                       industry in Borjomi and glass bottle production
                                                                             industry in Khashuri.


Georgia     Direct         SME finance facility          TBC Bank            Credit line to assist small and medium-sized        Bank lending    Private     1996       1,857       1,857        0           0       1,857
            investment                                                       enterprises.




Georgia     Direct         SME finance facility          TbilComBank         Credit line to assist small and medium-sized        Bank lending    Private     1996       1,689       1,689        0           0       1,689
            investment                                                       enterprises.




Georgia     Direct         SME finance facility          TbilcreditBank      Credit line to assist small and medium-sized        Bank lending    Private     1996       2,081       2,081        0           0       2,081
            investment                                                       enterprises.




Georgia     Direct         SME finance facility          Tbiluniversalbank   Credit line to assist small and medium-sized        Bank lending    Private     1997         694        694         0           0         694
            investment                                                       enterprises.




Georgia     Direct         Enguri hydro power plant      -                   Improvement of world’s largest arch dam.            Power and       State       1998      62,993      33,809        0           0      33,809
            investment     upgrade                                                                                               energy




Georgia     Direct         United Georgian Bank          -                   Equity investment and credit line to assist small   Bank equity     Private     1997       5,399       1,800    1,800       1,800       5,399
            investment                                                       and medium-sized enterprises.




Georgia     Direct         Bank of Georgia               -                   Equity investment in second-largest bank in         Bank equity     Private     1998       6,296       4,197    2,099           0       6,296
            investment                                                       Georgia.




Georgia     Direct         Trans-Caucasian rail link     -                   Improvement of main international transit route     Transport       State       1998      24,021      13,860        0           0      13,860
            investment                                                       from Baku to the Georgian ports.




Georgia     Direct         Ksani glass packaging factory -                   Privatisation of glass packaging factory.           Manufacturing   Private     1999      15,096       2,244        0           0       2,244
            investment                                                                                                           and services




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project       Description                                       Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Georgia     Direct         Regional Trade Facilitation   TBC Bank          Support for foreign trade.                        Bank lending   Private     1998        1,387         0         0       1,387       1,387
            investment     Programme




Georgia     Direct         SME finance facility          Intellectbank     Credit line to assist small and medium-sized      Bank lending   Private     1997        1,274      1,274        0           0       1,274
            investment                                                     enterprises.




Georgia     Direct         AES Telasi                    -                 Post-privatisation modernisation of electricity   Power and      Private     1999      140,855     20,806        0           0      20,806
            investment                                                     distribution network.                             energy




Georgia     Direct         Georgian Wines                -                 Upgrade of winery equipment and facilities.       Agribusiness   Private     1999        3,468      3,468        0           0       3,468
            investment




Georgia     Regional       Frontera Resources            -                 Commercial development of Kursangi and            Natural        Private     2000      197,972      9,016        0           0       9,016
            investment                                                     Karabagli oilfields in Azerbaijan.                Resources




Georgia     Direct         Regional Trade Facilitation   Bank of Georgia   Support for foreign trade.                        Bank lending   Private     1999        6,523      3,261        0       3,261       6,523
            investment     Programme




Georgia     Direct         Regional Trade Facilitation   TBC Bank          Support for foreign trade.                        Bank lending   Private     1999        4,831      2,415        0       2,415       4,831
            investment     Programme




Georgia     Regional       NIS restructuring facility    -                 Restructuring and expansion of investments in     Equity funds   Private     2000        1,095         0       228           0         228
            investment                                                     the New Independent States (NIS).




Georgia     Direct         ProCredit Bank Georgia        -                 Financing for micro and small enterprises.        Small business Private     2000        8,467       954     3,816           0       4,770
            investment                                                                                                       finance




Georgia     Direct         JSC Channel Energy Poti Port -                  Construction and operation of new oil terminal.   Transport      Private     2002       24,273      8,045        0           0       8,045
            investment




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project           Description                                       Sector          Portfolio   Year of       Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                            Class       signing     project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Georgia     Regional       Baring Vostok Private Equity   -                     Direct equity investment in medium-sized          Equity funds    Private     2000         3,860          0     1,832           0       1,832
            investment     Fund                                                 companies.




Georgia     Direct         ProCredit Bank Georgia         -                     Financing for micro and small enterprises.        Small business Private      2001        10,403       4,161        0           0       4,161
            investment                                                                                                            finance




Georgia     Regional       Baku-Tbilisi-Ceyhan pipeline   -                     Construction of oil pipeline from Azerbaijan to   Natural         Private     2004      1,799,362     43,346        0           0      43,346
            investment                                                          Turkey.                                           Resources




Georgia     Direct         Tbiluniversalbank              -                     Convertible loan to assist micro and small        Bank equity     Private     2003         1,590       1,060      530           0       1,590
            investment                                                          enterprises.




Georgia     Regional       SOCAR                          South Caucasus Gas    Financing for 690 km gas pipeline from the Shah Natural           State       2004        35,362       6,263        0           0       6,263
            investment                                    Pipeline              Deniz field in Azerbaijan to the Turkish-Georgian Resources
                                                                                border.


Georgia     Direct         Direct Investment Facility     Iberia Refreshments   Establishment of Pepsi franchise, including repair Agribusiness   Private     2003         3,092        897     1,345           0       2,241
            investment                                                          of production facilities.




Georgia     Direct         Bank of Georgia                -                     Credit line to assist small and medium-sized      Bank lending    Private     2003         2,774        925         0           0         925
            investment                                                          enterprises.




Georgia     Direct         Direct Investment Facility     Teliani Valley        Equity investment in wine producer.               Agribusiness    Private     2004           969          0       969           0         969
            investment




Georgia     Direct         SME finance facility           TBC Bank              Credit line to assist small and medium-sized      Bank lending    Private     2003         4,161       4,161        0           0       4,161
            investment                                                          enterprises.




Georgia     Direct         Direct Investment Facility     Delidor               Financing the production of frozen fruits and     Agribusiness    Private     2005         1,186        711       474           0       1,186
            investment                                                          vegetables.




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                     Sub project          Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Georgia     Direct         United Georgian Bank Capital -                        Equity investment to improve competitiveness       Bank equity      Private     2006       7,789          0     1,756           0       1,756
            investment     Increase                                              and promote on-lending to local businesses.




Georgia     Direct         VTB Bank Georgia                 -                    Credit line for on-lending to small and medium-    Small business Private       2006       6,935       6,935        0           0       6,935
            investment                                                           sized businesses.                                  finance




Georgia     Direct         Georgian Wines and Spirits       -                    Strengthening of the company’s position in         Agribusiness     Private     2005       7,143       5,756        0           0       5,756
            investment     Ltd.                                                  regional markets.




Georgia     Direct         TBC Leasing                      -                    Senior loan to one of Georgia’s first leasing      Insurance and    Private     2005       2,081       2,081        0           0       2,081
            investment                                                           companies                                          financial
                                                                                                                                    services


Georgia     Direct         Poti Water Supply                -                    Upgrading of facilities to improve water supply.   Municipal and    State       2006      12,257       2,500        0           0       2,500
            investment                                                                                                              environmental
                                                                                                                                    infrastructure


Georgia     Direct         Tbilisi Public Transport Project -                    Financing of municipal bus network, including      Municipal and    State       2005       4,067       2,987        0           0       2,987
            investment                                                           repair facilities and developing a regulatory      environmental
                                                                                 framework.                                         infrastructure


Georgia     Regional       Lukoil Overseas                  South Caucasus Gas   Completion of pipeline in Azerbaijan and Georgia Natural            Private     2005      31,750      20,390        0           0      20,390
            investment                                      Pipeline                                                              Resources




Georgia     Direct         Medium-sized Loan Co-            Bank of Georgia      Credit line.                                       Bank lending     Private     2005       3,468       3,468        0           0       3,468
            investment     financing Facility




Georgia     Direct         Medium-sized Loan Co-            TBC Bank             Credit line.                                       Bank lending     Private     2005       3,468       3,468        0           0       3,468
            investment     financing Facility




Georgia     Direct         TBC Bank                         -                    Credit line enabling the bank to increase medium- Bank lending      Private     2005       6,935       3,468        0           0       3,468
            investment                                                           term lending to SME sector.




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Georgia     Direct         Medium-sized Loan Co-           Lomisi Ltd    Sub-loan to local brewery through TBC Bank.        Agribusiness     Private     2005       4,855       2,427        0           0       2,427
            investment     financing Facility




Georgia     Direct         Regional Trade Facilitation     Basis Bank    Support for foreign trade.                         Bank lending     Private     2007         773        387         0         387         773
            investment     Programme




Georgia     Direct         Tbilisi International Airport   -             Construction of new facilities and upgrade of      Transport        Private     2006      82,461      17,962        0           0      17,962
            investment                                                   existing equipment to support increasing usage.




Georgia     Direct         Direct Investment Facility      Lomisi        Minority equity investment in Georgia’s second-    Agribusiness     Private     2005       2,478          0     2,478           0       2,478
            investment                                                   largest brewery.




Georgia     Direct         Bank of Georgia                 -             Expansion of the bank’s lending business and       Bank equity      Private     2005         837          0       837           0         837
            investment                                                   maintenance of regulatory capital adequacy.




Georgia     Direct         TBC Bank                        -             Syndicated loan to TBC Bank.                       Bank lending     Private     2005      14,564       4,855        0           0       4,855
            investment




Georgia     Direct         ProCredit Bank Georgia          -             Syndicated loan to ProCredit Georgia for on-       Small business Private       2007      10,403       5,548        0           0       5,548
            investment                                                   lending to micro and small-sized enterprises.      finance




Georgia     Direct         Kutaisi Water                   -             Upgrading of facilities to improve water supply.   Municipal and    State       2006      11,922       3,000        0           0       3,000
            investment                                                                                                      environmental
                                                                                                                            infrastructure


Georgia     Direct         Medium-sized Loan Co-           Nola Ltd      Sub-loan to a construction company through         Property and     Private     2005       1,040       1,040        0           0       1,040
            investment     financing Facility                            TBC Bank.                                          tourism




Georgia     Direct         Bank Republic                   -             Credit line for on-lending to local micro and small Small business Private      2006       2,081       2,081        0           0       2,081
            investment                                                   businesses.                                         finance




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Georgia     Direct         ETC Non-bank MFI              Constanta     Credit line to increase financing available to the   Small business Private       2006        2,427      2,081        0           0       2,081
            investment     Framework II                                smallest enterprises through on-lending.             finance




Georgia     Direct         ETC Non-bank MFI              WV Credo      Investment to increase financing for micro and       Small business Private       2008        1,040      1,040        0           0       1,040
            investment     Framework II                                small enterprises in the Early Transition            finance
                                                                       Countries and to assist the non-bank
                                                                       microfinance institutions.

Georgia     Direct         TBC Leasing                   -             Equity investment in leading leasing company to Insurance and         Private     2006          97          0        97           0          97
            investment                                                 support growth of its operations.               financial
                                                                                                                       services


Georgia     Direct         Regional Trade Facilitation   Cartu Bank    Support for foreign trade.                           Bank lending     Private     2006        1,546         0         0       1,546       1,546
            investment     Programme




Georgia     Regional       BSR Europe Co-Investment      -             Equity investment in a company developing              Property and   Private     2006       20,000         0     7,000           0       7,000
            investment     Facility                                    office, retail, residential and industrial real estate tourism
                                                                       in Georgia.


Georgia     Direct         Direct Investment Facility    Imedi L       Investment in one of Georgia’s largest insurance Insurance and        Private     2006        1,154         0     1,154           0       1,154
            investment                                                 providers.                                       financial
                                                                                                                        services


Georgia     Direct         Bank Republic Equity          -             Equity investment to increase the bank’s lending Bank equity          Private     2006       22,300         0     5,918           0       5,918
            investment                                                 capacity and promote growth.




Georgia     Direct         TBC Bank                      -             Credit facility for on-lending as long-term          Bank lending     Private     2006       10,403     10,403        0           0      10,403
            investment                                                 mortgage loans.




Georgia     Direct         Georgian Property Fund        -             Equity investment in georgian real estate            Property and     Private     2007      100,423         0    10,819           0      10,819
            investment                                                 investment vehicle.                                  tourism




Georgia     Direct         Bank Republic                 -             Credit facility for on-lending as long-term loans.   Bank lending     Private     2006        5,548      5,548        0           0       5,548
            investment




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project               Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Georgia     Direct         Medium-sized Loan Co-        BoG Iberia Refreshments   Sub-loan to a Pepsi franchise through Bank of       Agribusiness     Private     2006       2,244       2,244        0           0       2,244
            investment     Financing Facility                                     Georgia.




Georgia     Direct         Georgian Property Debt       Green Building            Conversion of an historic building in Tbilisi for   Property and     Private     2007       3,845       2,307        0           0       2,307
            investment     Framework                                              office uses.                                        tourism




Georgia     Direct         Georgian Financial Sector    Basis Bank                Loan for on-lending to micro, small and medium- Small business Private           2007       4,161       4,161        0           0       4,161
            investment     Framework                                              sized enterprises.                              finance




Georgia     Direct         Direct Investment Facility   Georgian Hazelnut         Investment in new start-up company to finance       Agribusiness     Private     2006       2,638        372       186           0         558
            investment                                  Production Ltd.           purchase of raw materials.




Georgia     Direct         Direct Lending Facility      BTM Tekstil               Finance provided for establishment of garment       Manufacturing    Private     2006       4,552       1,740        0           0       1,740
            investment                                                            manufacturing facility.                             and services




Georgia     Regional       Brasseries International     -                         Reconstruction and development of breweries         Agribusiness     Private     2006       4,434       2,217    2,217           0       4,434
            investment     Holdings                                               across the Caucasus.




Georgia     Direct         Medium-sized Loan Co-        Bank of Georgia/Lopota    Sub-loans to small hydropower plant for             Power and        Private     2006         334        114         0           0         114
            investment     financing Facility                                     renewable energy programmes.                        energy




Georgia     Direct         Medium-sized Loan Co-        Bank of Georgia/Okami     Sub-loans to small hydropower plant for             Power and        Private     2006         225         71         0           0          71
            investment     financing Facility                                     renewable energy programmes.                        energy




Georgia     Direct         Direct Lending Facility      Georgian Hazelnut         Finance provided to a new start-up company for      Agribusiness     Private     2006       2,500       2,500        0           0       2,500
            investment                                  Production Ltd            purchase of raw materials.




Georgia     Direct         Batumi Public Transport      -                         Support for modernisation of urban transport.       Municipal and    State       2008       2,500       2,500        0           0       2,500
            investment                                                                                                                environmental
                                                                                                                                      infrastructure




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project     Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Georgia     Direct         Kobuleti Water              -               Support for rehabilitation and enhancement of the Municipal and     State       2008      12,882       1,500        0           0       1,500
            investment                                                 water and wastewater networks.                    environmental
                                                                                                                         infrastructure


Georgia     Direct         Direct Lending Facility     Lomisi          Finance provided to local brewery.                 Agribusiness     Private     2006       1,387       1,387        0           0       1,387
            investment




Georgia     Direct         Medium-sized Loan Co-       Bank Republic   Construction of a new private hospital for         Property and     Private     2007       1,734       1,734        0           0       1,734
            investment     financing Facility                          MediClub Georgia.                                  tourism




Georgia     Direct         Medium-sized Loan Co-       TBC Bank        Finance for new can filling line and working       Agribusiness     Private     2007       4,161       4,161        0           0       4,161
            investment     financing Facility                          capital expansion at a Coca Cola plant.




Georgia     Direct         Borjomi Water               -               Support for upgrading and enhancement of the       Municipal and    State       2008       6,461       1,500        0           0       1,500
            investment                                                 water and wastewater networks.                     environmental
                                                                                                                          infrastructure


Georgia     Direct         Georgian Financial Sector   Bank Republic   Loan for on-lending to micro and small             Small business Private       2007       8,322       8,322        0           0       8,322
            investment     Framework                                   enterprises.                                       finance




Georgia     Regional       Caucasus Online             -               Debt and equity investment for construction of a   Telecoms,       Private      2008      21,222      21,222        0           0      21,222
            investment                                                 high capacity sub-sea cable.                       informatics and
                                                                                                                          media


Georgia     Direct         Medium-sized Loan Co-       TBC Bank        Loan to Embawood to set up a furniture             Manufacturing    Private     2007         694        694         0           0         694
            investment     financing Facility                          manufacturing facility.                            and services




Georgia     Direct         Medium-sized Loan Co-       TBC Bank        Loan to Wissol to expand its network of petrol     Natural          Private     2007       4,161       4,161        0           0       4,161
            investment     financing Facility                          stations.                                          Resources




Georgia     Direct         Geo Steel                   -               Investment for construction and operation of a     Manufacturing    Private     2008      19,419       9,709        0           0       9,709
            investment                                                 steel mini-mill.                                   and services




   All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project                  Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                              (€ 000)
Georgia     Direct         Georgian Financial Sector    Cartu Bank                   Loan for on-lending to small and medium-sized      Bank lending    Private     2007       4,855       4,855        0           0       4,855
            investment     Framework                                                 enterprises.




Georgia     Direct         Direct Investment Facility   Alfapet                      Investment in a plastics producer.                 Manufacturing   Private     2007          82         41        41           0          82
            investment                                                                                                                  and services




Georgia     Direct         Caucasus Energy Efficiency   Cartu Bank                   Credit line for on-lending to energy efficiency    Bank lending    Private     2007       3,468       3,468        0           0       3,468
            investment     Programme                                                 projects.




Georgia     Direct         Caucasus Energy Efficiency   TBC Bank                     Credit line for on-lending to energy efficiency    Bank lending    Private     2007       6,935       3,468        0           0       3,468
            investment     Programme                                                 projects.




Georgia     Direct         Caucasus Energy Efficiency   Bank Republic                Investment for on-lending to private sector        Bank lending    Private     2008       3,468       3,468        0           0       3,468
            investment     Programme                                                 industrial entities to finance projects aimed to
                                                                                     improve their energy use.


Georgia     Direct         Medium-sized Loan Co-        TBC Bank                     Refinancing of existing loan to Tsiskvilkombinati. Agribusiness    Private     2007       1,734       1,734        0           0       1,734
            investment     financing Facility




Georgia     Direct         Georgian Property Debt       Tbilisi Central Train Station Loan to finance the refurbishment of Tbilisi's    Property and    Private     2007      11,789       5,895        0           0       5,895
            investment     Framework                                                  central train station.                            tourism




Georgia     Direct         Medium-sized Loan Co-        TBC Bank                     Loan to assist in the expansion of Goodwill        Agribusiness    Private     2007       5,201       5,201        0           0       5,201
            investment     financing Facility                                        hypermarket network.




Georgia     Direct         Bank Republic Mortgage Loan -                             Credit line to support mortgage lending to         Bank lending    Private     2008      13,870       9,709        0           0       9,709
            investment     II                                                        individuals.




Georgia     Direct         Georgian Financial Sector    TBC Bank                     Second loan for on-lending as mortgages.           Bank lending    Private     2007       8,322       8,322        0           0       8,322
            investment     Framework




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project     Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Georgia     Direct         Medium-sized Loan Co-       Bank Republic   Working capital finance for Begi flour mill.       Agribusiness    Private     2007         659        659         0           0         659
            investment     financing Facility




Georgia     Direct         Medium-sized Loan Co-       TBC Bank        Second working capital loan for Tsiskvilkombinati Agribusiness     Private     2007       8,496       3,468        0           0       3,468
            investment     financing Facility                          flour mill.




Georgia     Direct         Medium-sized Loan Co-       Bank Republic   Second capital increase in Begi flour mill.        Agribusiness    Private     2007       4,092       4,092        0           0       4,092
            investment     financing Facility




Georgia     Direct         Medium-sized Loan Co-       TBC Bank        Investment in Tegeta Motors.                       Manufacturing   Private     2008       4,681       4,681        0           0       4,681
            investment     financing Facility                                                                             and services




Georgia     Regional       Aureos Central Asia Fund    -               Equity investment to support medium-sized          Equity funds    Private     2008         567          0       567           0         567
            investment                                                 enterprises in Azerbaijan, Central Asia and
                                                                       Georgia.


Georgia     Direct         Bank Republic               -               Equity investment to support projected growth of Bank equity       Private     2008       1,599          0       983           0         983
            investment                                                 the bank.




Georgia     Direct         Georgian Financial Sector   Basis Bank      Equity investment to support growth of a private   Bank equity     Private     2008       2,956          0     2,956           0       2,956
            investment     Framework                                   bank.




Georgia     Direct         Bank Republic               -               Medium-term funding to a range of financial        Bank lending    Private     2008       3,468       3,468        0           0       3,468
            investment                                                 intermediaries for on-lending to small and
                                                                       medium-sized enterprises.


Georgia     Direct         Bank Republic               -               Loan to further develop and expand lending         Small business Private      2008      13,871       6,935        0           0       6,935
            investment                                                 activities to private sector entrepreneurs,        finance
                                                                       particularly outside the capital.


Georgia     Direct         Medium-sized Loan Co-       Bank Republic   Investment to provide larger loans to Georgian     Bank lending    Private     2008       6,935       6,935        0           0       6,935
            investment     financing Facility                          private companies.




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name              Sub project     Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Georgia     Direct         TBC Bank                  -               Loan for on-lending to small and medium-sized       Bank lending     Private     2008      10,403       5,201        0           0       5,201
            investment                                               enterprises.




Georgia     Regional       Caucasus Online           -               Investment in an internet service provider and      Telecoms,       Private      2009         624          0       624           0         624
            investment                                               sub-sea cable operator.                             informatics and
                                                                                                                         media


Georgia     Direct         Direct Lending Facility   Populi          Support for expansion and distribution              Agribusiness     Private     2008       9,088       6,816    2,272           0       9,088
            investment                                               modernisation for a food retailer.




Georgia     Direct         Medium-sized Loan Co-     TBC Bank        Investment in home improvement firm Jaokeni         Manufacturing    Private     2008       2,254       2,254        0           0       2,254
            investment     financing Facility                        Company.                                            and services




Georgia     Direct         Bank of Georgia           -               Various loans to strengthen bank's capital base     Bank lending     Private     2008      18,062      18,062        0           0      18,062
            investment                                               and maintain an adequate liquidity position.




Georgia     Direct         Bank of Georgia           -               To facilitate lending to retail clients and small and Bank lending   Private     2008      16,614      16,614        0           0      16,614
            investment                                               medium-sized enterprises.




Georgia     Direct         Medium-sized Loan Co-     Bank Republic   Loan to finance the construction and                Property and     Private     2009       1,040       1,040        0           0       1,040
            investment     financing Facility                        refurbishment of an office building.                tourism




Georgia     Direct         Bank of Georgia           -               To facilitate lending to retail clients and small and Bank lending   Private     2008      34,676      34,676        0           0      34,676
            investment                                               medium-sized enterprises.




Georgia     Direct         TBC Bank                  -               Senior loan as part of a financing package to       Bank lending     Private     2009      41,126      10,195        0           0      10,195
            investment                                               restructure TBC Bank's operations.




Georgia     Direct         TBC Bank                  -               Equity investment in ordinary shares.               Bank equity      Private     2009      50,680          0    27,585           0      27,585
            investment




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project                Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Georgia     Direct         TBC Bank                    -                          Subordinated loan as part of a financing package Bank lending       Private     2009      30,515      12,830        0           0      12,830
            investment                                                            to restructure TBC Bank's operations.




Georgia     Direct         Cartu Bank SME Loan II      -                          Credit line to Cartu Bank to on-lend to small and   Bank lending    Private     2009       6,935       3,468        0           0       3,468
            investment                                                            medium-sized enterprises.




Georgia     Direct         Rustavi solid waste         -                          Improvement and expansion of solid waste      Municipal and         State       2009       3,994       1,600        0           0       1,600
            investment     management                                             management services in Rustavi and Gardabani. environmental
                                                                                                                                infrastructure


Georgia     Direct         Direct Lending Facility     Margebeli                  Expansion and energy efficiency improvements        Agribusiness    Private     2009       4,000       4,000        0           0       4,000
            investment                                                            to food manufacturing production facilities.




Georgia     Direct         Direct Lending Facility     Marneuli                   Investment in a company producing mineral           Agribusiness    Private     2009       4,161       4,161        0           0       4,161
            investment                                                            water, as well as processed fruits and
                                                                                  vegetables.


Georgia     Direct         Medium-sized Loan Co-       Bank Republic              Restructuring of Begi's previous loan.              Agribusiness    Private     2009       5,877       3,918        0       1,959       5,877
            investment     financing Facility




Georgia     Direct         Direct Lending Facility     Brasseries International   Support for Castel to promote the drinks            Agribusiness    Private     2009       1,803       1,803        0           0       1,803
            investment                                 Holdings                   business in Georgia.




Georgia     Direct         ETC Non-bank Microfinance   Crystal                    Loan to Crystal microfinance organisation for       Small business Private      2009         694        347         0           0         347
            investment     Institution Framework III                              onlending to local SMEs.                            finance




Georgia     Direct         Medium-sized Loan Co-       Bank Republic              Finance for Rusmetali, a metal producer in          Manufacturing   Private     2009       1,734       1,734        0           0       1,734
            investment     financing Facility                                     Georgia.                                            and services




Georgia     Direct         Medium-sized Loan Co-       TBC Bank - Goodwill        Loan to assist in the expansion of the Goodwill     Agribusiness    Private     2009       1,179        589         0           0         589
            investment     financing Facility                                     hypermarket network.




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project     Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Hungary    Direct         Budapest wholesale market    -               Construction of cold storage facilities, handling   Agribusiness     State       1994      17,044       4,116        0           0       4,116
           investment                                                  and service areas.




Hungary    Direct         Petofi Nyomda                -               Modernisation of packaging plant.                   Manufacturing    Private     1991       5,113       5,113        0           0       5,113
           investment                                                                                                      and services




Hungary    Direct         Pannonia                     -               Privatisation of hotel.                             Property and     Private     1993      42,109          0     6,250           0       6,250
           investment                                                                                                      tourism




Hungary    Direct         Budapest public transport    -               Replacement of bus fleet, modernisation of          Municipal and    State       1993      81,151      41,151        0           0      41,151
           investment                                                  metro line and installation of new parking          environmental
                                                                       equipment.                                          infrastructure


Hungary    Direct         EGIS Pharmaceuticals         -               Partial privatisation of Hungarian pharmaceutical Manufacturing      Private     1993      37,813          0    37,813           0      37,813
           investment                                                  company.                                          and services




Hungary    Direct         TVK/Columbian Tiszai         -               Construction and start up of carbon black plant  Manufacturing       Private     1992      38,699       6,242        0           0       6,242
           investment     Koromgyarto                                  supplying the European rubber and tyre industry. and services




Hungary    Direct         Kner Nyomda                  -               Modernisation and expansion of printer.             Manufacturing    Private     1993       5,497       1,534        0           0       1,534
           investment                                                                                                      and services




Hungary    Direct         PCA-Budafok (Kartongyar)     -               Upgrade of quality and productivity of recycled     Manufacturing    Private     1993      11,305       2,774        0           0       2,774
           investment                                                  paperboard facility.                                and services




Hungary    Direct         Hungarian Foreign Trade Bank -               Privatisation of commercial bank.                   Bank equity      Private     1994      30,100          0    17,465           0      17,465
           investment     (MKB)




Hungary    Direct         Agricultural restructuring   Budapest Bank   Medium to long-term financing for small and         Bank lending     Private     1993       5,548       5,548        0           0       5,548
           investment     project                                      medium-sized enterprises in the agribusiness
                                                                       sector.




  All investments 1991- 2009
                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project   Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                            (€ 000)
Hungary    Direct         Hungarian Foreign Trade Bank -             Issue of bonds in commercial bank.               Bank lending    Private     1993       33,234      7,669        0           0       7,669
           investment     (MKB)




Hungary    Direct         Framochem -                  -             Upgrade and enlargement of chemical plant and Manufacturing      Private     1994        5,143       572         0           0         572
           investment     BorsodChem/SNPE                            improvement of environmental performance.     and services




Hungary    Direct         Hungarian                    -             Improvement of telecommunications in rural       Telecoms,       Private     1993      241,973         0    50,880           0      50,880
           investment     Telecommunications                         areas.                                           informatics and
                                                                                                                      media


Hungary    Direct         Hungarian                    -             Improvement of telecommunications in rural       Telecoms,       Private     1992      209,669     33,600        0           0      33,600
           investment     Telecommunications                         areas.                                           informatics and
                                                                                                                      media


Hungary    Direct         Budapest orbital motorway    -             Construction of south-western portion of the     Transport       State       1992      108,800     21,000        0           0      21,000
           investment                                                orbital motorway.




Hungary    Direct         BorsodChem                   -             Privatisation of manufacturer and processor of   Manufacturing   Private     1996       14,765         0    14,765           0      14,765
           investment                                                PVC and MDI.                                     and services




Hungary    Direct         Central business centre      -             Construction of business centre in Budapest.     Property and    Private     1994       18,467      2,927    2,927           0       5,853
           investment                                                                                                 tourism




Hungary    Direct         Magyar Hotel                 -             Investment in low budget hotel.                  Property and    Private     1993        1,713       856         0           0         856
           investment                                                                                                 tourism




Hungary    Direct         Westel Radiotelefon          -             Expansion of national mobile cellular            Telecoms,       Private     1992        6,935      6,935        0           0       6,935
           investment                                                telecommunications system.                       informatics and
                                                                                                                      media


Hungary    Regional       New Europe East Investment   -             Equity fund supporting private companies and     Equity funds    Private     1993       20,158         0     4,938           0       4,938
           investment     Fund                                       joint ventures.




  All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project             Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Hungary    Direct         Eurocorp                     -                       Equity investment in corporate finance advisory   Bank equity     Private     1993        2,187         0       100           0         100
           investment                                                          company, providing additional capital for its
                                                                               operations.


Hungary    Direct         M1-M15 Motorway (including   -                       Construction of section of motorway from Gyor to Transport        Private     1993      235,752     64,217    3,568           0      67,785
           investment     guarantee)                                           the Austrian border and a section from the M1 to
                                                                               Bratislava.


Hungary    Regional       Dun and Bradstreet           -                       Development of business information services in Insurance and     Private     1993         342          0       342           0         342
           investment                                                          central and eastern Europe.                     financial
                                                                                                                               services


Hungary    Direct         Goldsun                      -                       Expansion and modernisation of fruit and          Agribusiness    Private     1993        4,053      4,053        0           0       4,053
           investment                                                          vegetable freezing and processing operation.




Hungary    Direct         Fusion Investment Company    -                       Development of Burger King franchises in          Property and    Private     1992       17,867         0     2,980           0       2,980
           investment                                                          Hungary.                                          tourism




Hungary    Direct         General Motors               -                       Establishment of engine manufacturing and car     Manufacturing   Private     1992       82,062     30,678        0           0      30,678
           investment                                                          assembly plant.                                   and services




Hungary    Direct         Agricultural restructuring   Magyar Hitel Bank       Medium to long-term financing for small and       Bank lending    Private     1994        9,150      9,150        0           0       9,150
           investment     project                                              medium-sized enterprises in the agribusiness
                                                                               sector.


Hungary    Direct         Agricultural restructuring   Kereskedelmi es Hitel   Medium to long-term financing for small and       Bank lending    Private     1993       30,232     30,232        0           0      30,232
           investment     project                      Bank                    medium-sized enterprises in the agribusiness
                                                                               sector.


Hungary    Direct         Agricultural restructuring   OTP Bank                Medium to long-term financing for small and       Bank lending    Private     1993       15,503     15,503        0           0      15,503
           investment     project                                              medium-sized enterprises in the agribusiness
                                                                               sector.


Hungary    Direct         Budapest Bank                -                       Privatisation of major state-owned bank.          Bank equity     Private     1995       36,644         0    36,644           0      36,644
           investment




  All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project   Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                             (€ 000)
Hungary    Direct         OTP Bank                     -             Expansion of OTP’s lending capabilities.          Bank lending    Private     1994        9,016      9,016        0           0       9,016
           investment




Hungary    Direct         MOL Zsana                    -             Construction and operation of underground         Natural         Private     1994       58,950     17,338        0           0      17,338
           investment                                                natural gas storage facility at depleted Zsana    Resources
                                                                     natural gas field.


Hungary    Regional       Advent Private Equity Fund   -             Private equity fund supporting small and medium- Equity funds     Private     1994        5,647         0     2,318           0       2,318
           investment     Central Europe                             sized enterprises in central and eastern Europe.




Hungary    Direct         M5 motorway                  -             Construction, operation and maintenance of the    Transport       Private     1995      309,708     52,321        0       8,720      61,041
           investment                                                M5 toll motorway.




Hungary    Direct         MAV                          -             Upgrade of freight and passenger rolling stock    Transport       State       1998      220,000     40,000        0           0      40,000
           investment                                                and investments in revenue collection systems.




Hungary    Direct         Hungarian Capital Fund       -             Purchase, restructuring, upgrade and sale of      Equity funds    Private     1995       19,043         0     9,443           0       9,443
           investment                                                Hungarian companies.




Hungary    Regional       East European Food Fund      -             Investment fund focusing on food and beverage     Agribusiness    Private     1995       33,117         0     7,817           0       7,817
           investment                                                sector.




Hungary    Direct         Investel                     -             Partial financing for HTC’s capital expenditure   Telecoms,       Private     1995      649,253     11,096        0           0      11,096
           investment                                                programme.                                        informatics and
                                                                                                                       media


Hungary    Direct         Deltav                       -             Modernisation and development of efficient        Telecoms,       Private     1995      131,673     10,404   10,404           0      20,808
           investment                                                telecommunications system.                        informatics and
                                                                                                                       media


Hungary    Regional       MBA loan project             -             Financial support for students undertaking MBA    Bank lending    Private     1995        1,534       489         0         367         856
           investment                                                degrees at top-tier business schools.




  All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project             Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Hungary    Direct         Budapest Bank                -                       Credit line to assist environment and energy        Bank lending     Private     1996      26,832       9,332        0           0       9,332
           investment                                                          projects.




Hungary    Direct         Cofinec SA (Kner)            -                       Equity investment in printer of packaging           Manufacturing    Private     1995      10,058          0     4,200           0       4,200
           investment                                                          materials.                                          and services




Hungary    Direct         Agricultural restructuring   Kereskedelmi es Hitel   Medium to long-term financing for small and         Bank lending     Private     1996      25,985      25,985        0           0      25,985
           investment     project                      Bank                    medium-sized enterprises in the agribusiness
                                                                               sector.


Hungary    Direct         Agricultural restructuring   Budapest Bank           Medium to long-term financing for small and         Bank lending     Private     1995         347        347         0           0         347
           investment     project                                              medium-sized enterprises in the agribusiness
                                                                               sector.


Hungary    Direct         Graboplast                   -                       Expansion and restructuring of leading artificial   Manufacturing    Private     1995       4,944          0     2,400           0       2,400
           investment                                                          leather, floor covering and wallpaper               and services
                                                                               manufacturer.


Hungary    Direct         OTP Bank                     -                       Expansion of OTP’s lending capabilities.            Bank lending     Private     1996      36,728      36,728        0           0      36,728
           investment




Hungary    Direct         Dalkia Prometheus            -                       Investment in energy service companies.             Municipal and    Private     1995       3,786       3,786        0           0       3,786
           investment                                                                                                              environmental
                                                                                                                                   infrastructure


Hungary    Regional       Environmental Investment     -                       Support for companies undertaking environment- Municipal and         Private     1997       2,200          0       500           0         500
           investment     Fund                                                 related projects in the infrastructure sector. environmental
                                                                                                                              infrastructure


Hungary    Direct         Hungarian Equity Partners    -                       Mobilisation of private sector funds enabling       Equity funds     Private     1997      15,610          0     6,811           0       6,811
           investment                                                          equity and equity-related investments.




Hungary    Direct         Szikra Lapnyomda             -                       Improvement of colour printing facilities.          Manufacturing    Private     1996      10,948       3,046    3,046           0       6,091
           investment                                                                                                              and services




  All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                      Sub project   Description                                    Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Hungary    Direct         Digitel                           -             Modernisation and development of efficient     Telecoms,       Private      1996      83,988       7,099    7,099           0      14,199
           investment                                                     telecommunications system.                     informatics and
                                                                                                                         media


Hungary    Regional       DBG Osteuropa Holding             -             Private equity fund supporting medium-sized    Equity funds     Private     1997       7,120          0     2,556           0       2,556
           investment     GmbH                                            enterprises.




Hungary    Direct         Kereskedelmi es Hitel Bank        -             Equity investment in commercial bank.          Bank equity      Private     1997      26,242          0    26,242           0      26,242
           investment




Hungary    Direct         Winterthur multi-project facility -             Equity investment in insurance and pension     Insurance and    Private     1997      61,719          0    26,415           0      26,415
           investment                                                     industries.                                    financial
                                                                                                                         services


Hungary    Regional       Baring Communications             -             Private equity fund targeting the media and    Telecoms,       Private      1997      11,043          0     2,478           0       2,478
           investment                                                     communications sector.                         informatics and
                                                                                                                         media


Hungary    Regional       Communication and                 -             Private equity fund targeting the media and    Telecoms,       Private      1999      10,536          0     3,185           0       3,185
           investment     Information Technology Fund                     communications sector.                         informatics and
                                                                                                                         media


Hungary    Direct         Raba                              -             Privatisation of automotive manufacturer.      Manufacturing    Private     1997      59,772          0     9,630           0       9,630
           investment                                                                                                    and services




Hungary    Direct         Hungarian commercial              -             Financing for TV2, one of Hungary’s national   Telecoms,       Private      1997      46,045      11,179        0           0      11,179
           investment     television                                      television stations.                           informatics and
                                                                                                                         media


Hungary    Direct         Dalkia Prometheus                 -             Investment in energy service companies.        Municipal and    Private     1997      28,924      12,899    3,225           0      16,124
           investment                                                                                                    environmental
                                                                                                                         infrastructure


Hungary    Direct         Parmalat multi-project facility   -             Equity investment in dairy producer.           Agribusiness     Private     2002      27,692          0     9,000           0       9,000
           investment




  All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project            Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Hungary    Regional       Advent Central and Eastern   -                      Private equity fund supporting small and medium- Equity funds       Private     1997      14,822          0     5,814           0       5,814
           investment     Europe Fund II                                      sized enterprises in central and eastern Europe.




Hungary    Direct         Hungarian Foreign Trade Bank -                      Privatisation of commercial bank.                  Bank equity      Private     1997      60,729          0    11,542           0      11,542
           investment     (MKB)




Hungary    Direct         CGE multi-project facility   Budapest waste-water   Improvement of financial and operational           Municipal and    Private     1998      37,956      11,469        0           0      11,469
           investment                                  service                performance and facilitation of private sector     environmental
                                                                              involvement in sewerage services.                  infrastructure


Hungary    Regional       Innova/98                    -                      Private equity fund supporting small and medium- Equity funds       Private     1998       8,571          0     1,988           0       1,988
           investment                                                         sized enterprises.




Hungary    Regional       AIG New Europe Fund          -                      Private equity fund investing in central and       Equity funds     Private     1999      35,059          0     6,910           0       6,910
           investment                                                         eastern Europe.




Hungary    Regional       Emerging Europe Capital      -                      Direct equity fund investing in central and eastern Equity funds    Private     1999      18,356          0     5,838           0       5,838
           investment     Investors LDC                                       Europe.




Hungary    Regional       Energy Efficiency and        -                      Equity financing for energy efficiency and         Power and        Private     1999      10,650          0     3,000           0       3,000
           investment     Emissions Reduction Fund                            emission-reducing projects.                        energy




Hungary    Direct         LandG ESCO Hungary           -                      Investment in energy service companies.            Manufacturing    Private     1999       3,582        621       621           0       1,242
           investment                                                                                                            and services




Hungary    Regional       MBA loan project             -                      Financial support for students undertaking MBA     Bank lending     Private     1998         331         69         0          69         138
           investment                                                         degrees at top-tier business schools.




Hungary    Direct         Budapest waste-water         -                      Partial privatisation of Budapest Municipal        Municipal and    Private     1998      37,956      11,469        0           0      11,469
           investment     services                                            Sewerage Company.                                  environmental
                                                                                                                                 infrastructure




  All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project   Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Hungary    Direct         Honeywell ESCO Hungary          -             Investment in energy service companies.             Manufacturing   Private     1999        9,030         0       397           0         397
           investment                                                                                                       and services




Hungary    Direct         Ozdi Acelmuvek minimill         -             Construction of new electric arc steel-making       Manufacturing   Private     1999       19,901     10,200        0           0      10,200
           investment                                                   furnace.                                            and services




Hungary    Regional       Viking River Cruises            -             Expansion of fleet servicing international tourists Transport       Private     2001        4,855      4,855        0           0       4,855
           investment                                                   in Hungary.




Hungary    Regional       Heitman Central Europe          -             Investment in property projects, primarily office   Property and    Private     2000       33,183         0     9,152           0       9,152
           investment     Property Partners Fund                        buildings, warehousing/distribution and retail      tourism
                                                                        shopping centres.


Hungary    Direct         Budapest intermodal logistics   -             Construction of railway line and marshalling yard Transport         State       1999       18,139      4,739        0           0       4,739
           investment     centre                                        to service logistics centre.




Hungary    Direct         OTP Bank                        -             Privatisation of Hungary’s largest bank.            Bank equity     Private     1999       21,508         0    21,508           0      21,508
           investment




Hungary    Regional       Argus Capital Partners          -             Private equity fund supporting medium-sized         Equity funds    Private     2000       40,111         0     8,868           0       8,868
           investment                                                   enterprises.




Hungary    Direct         M1-M15 Motorway (including      -             Construction of section of motorway from Gyor to Transport          State       1999      204,108     65,128        0           0      65,128
           investment     guarantee)                                    the Austrian border and a section from the M1 to
                                                                        Bratislava.


Hungary    Regional       Accession Mezzanine Capital     -             Establishment of first dedicated mezzanine fund, Equity funds       Private     2002       14,800         0     6,000           0       6,000
           investment                                                   supporting mature companies.




Hungary    Regional       Private Equity Fund Facility    Trigranit     Equity investment in leading commercial property Property and       Private     1999       32,671         0     6,803           0       6,803
           investment                                                   developer and operator.                          tourism




  All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                   Sub project           Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Hungary    Regional       EU/EBRD SME Finance            Euroventures Danube   Private equity fund supporting small and medium- Equity funds      Private     2001       11,330         0     1,165           0       1,165
           investment     Facility                                             sized enterprises.




Hungary    Regional       Raiffeisen EU Enlargement      -                     Private equity fund supporting small and medium- Equity funds      Private     2001        8,539         0     4,114           0       4,114
           investment     Fund                                                 sized enterprises in central and eastern Europe.




Hungary    Regional       DVI Inc                        -                     Provision of medical equipment for hospitals and Insurance and     Private     2001        4,260      1,130        0           0       1,130
           investment                                                          diagnostic centres.                              financial
                                                                                                                                services


Hungary    Regional       Innova/3                       -                     Private equity fund supporting small and medium- Equity funds      Private     2001       37,665         0     4,465           0       4,465
           investment                                                          sized enterprises.




Hungary    Regional       Private Equity Fund Facility   Trigranit             Equity investment in leading commercial property Property and      Private     2001        2,874         0       577           0         577
           investment                                                          developer and operator.                          tourism




Hungary    Direct         Invitel                        -                     Consolidation of VTH’s regional operations into a Telecoms,       Private      2001      268,178     47,373        0           0      47,373
           investment                                                          single nationwide structure.                      informatics and
                                                                                                                                 media


Hungary    Direct         Tecnicredito Hungary           -                     Syndicated loan to consumer credit company         Insurance and   Private     2001       25,000     10,000        0           0      10,000
           investment                                                          financing the acquisition of automobiles.          financial
                                                                                                                                  services


Hungary    Direct         EU/EBRD SME Finance            Volksbank             Financing for small and medium-sized               Bank lending    Private     2001        9,238      9,238        0           0       9,238
           investment     Facility                                             enterprises.




Hungary    Direct         M5 motorway - refinancing      -                     Construction, operation and maintenance of the     Transport       Private     2004      221,250     67,500        0           0      67,500
           investment                                                          M5 toll motorway.




Hungary    Direct         EU/EBRD SME Finance            Euroleasing           Credit lines for on-lending to small and medium-   Insurance and   Private     2003        7,537      7,537        0           0       7,537
           investment     Facility                                             sized businesses.                                  financial
                                                                                                                                  services




  All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name               Sub project   Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                             (€ 000)
Hungary    Direct         MOL Duna waste-water       -             Expansion and upgrade of waste-water treatment Municipal and        Private     2003       37,119     12,327        0           0      12,327
           investment     treatment plant                          facilities at MOL's Duna refinery.             environmental
                                                                                                                  infrastructure


Hungary    Regional       DBG Osteuropa Holding      -             Private equity fund supporting medium-sized         Equity funds    Private     2003       21,780         0     6,600           0       6,600
           investment     GmbH                                     enterprises.




Hungary    Regional       Heitman Central Europe     -             Investment in property projects, primarily office   Property and    Private     2002       24,799         0     8,050           0       8,050
           investment     Property Partners Fund                   buildings, warehousing/distribution and retail      tourism
                                                                   shopping centres.


Hungary    Regional       Orco Aparthotels           -             Expansion of extended-stay hotel chain.             Property and    Private     2003       16,362         0     1,166         583       1,749
           investment                                                                                                  tourism




Hungary    Regional       Accession Fund             -             Property investments in the Czech Republic.         Property and    Private     2004       60,000         0    15,000           0      15,000
           investment                                                                                                  tourism




Hungary    Direct         Cora                       -             Expansion of hypermarket operations.                Agribusiness    Private     2003      175,965     41,181        0           0      41,181
           investment




Hungary    Direct         MOL environmental loan     -             Environmental improvements to refineries and        Natural         Private     2003      750,000    150,000        0           0     150,000
           investment                                              improvement of gas transfer and filling stations.   Resources




Hungary    Direct         EU/EBRD SME Finance        CIB Leasing   Credit lines for on-lending to small and medium-    Insurance and   Private     2004       10,000     10,000        0           0      10,000
           investment     Facility                                 sized businesses.                                   financial
                                                                                                                       services


Hungary    Direct         Euroventures Hungary III   -             Private equity fund supporting small and medium- Equity funds       Private     2003       46,000         0    15,000           0      15,000
           investment                                              sized enterprises.




Hungary    Direct         Internet Framework         Laserbit      Investment in laser-based transmission              Telecoms,       Private     2003        5,257         0     1,666           0       1,666
           investment                                              company.                                            informatics and
                                                                                                                       media




  All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                   Sub project        Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Hungary    Regional       Private Equity Fund Facility   Trigranit          Equity investment in leading commercial property Property and       Private     2004      36,159          0       639           0         639
           investment                                                       developer and operator.                          tourism




Hungary    Direct         Dalkia Prometheus              -                  Provision of energy services to private and        Municipal and    Private     2003       2,972          0       572           0         572
           investment                                                       municipal clients.                                 environmental
                                                                                                                               infrastructure


Hungary    Direct         EU/EBRD SME Finance            Volksbank          Financing for small and medium-sized               Bank lending     Private     2003       5,000       5,000        0           0       5,000
           investment     Facility                                          enterprises.




Hungary    Direct         Volksbank Hungary              -                  Credit lines to assist small and medium-sized      Bank lending     Private     2003      10,000      10,000        0           0      10,000
           investment     subordinated debt                                 enterprises and local entrepreneurs.




Hungary    Regional       TUI advance payments           -                  Upgrade and expansion of hotels in Hungary.        Property and     Private     2003       2,025       2,025        0           0       2,025
           investment                                                                                                          tourism




Hungary    Direct         EU/EBRD SME Finance            Budapest Leasing   Credit lines for on-lending to small and medium-   Insurance and    Private     2003      20,000      20,000        0           0      20,000
           investment     Facility                                          sized businesses.                                  financial
                                                                                                                               services


Hungary    Regional       Polish Enterprise Fund V       -                  Private equity fund investing in enterprises in    Equity funds     Private     2004       1,395          0     1,395           0       1,395
           investment                                                       Hungary.




Hungary    Regional       Advent Central and Eastern     -                  Private equity fund investing in Hungary.          Equity funds     Private     2004      33,047          0     5,000           0       5,000
           investment     Europe Successor Fund




Hungary    Direct         UNIQA Biztosito RT             -                  Equity investment in insurer.                      Insurance and    Private     2004      11,012          0    11,012           0      11,012
           investment                                                                                                          financial
                                                                                                                               services


Hungary    Regional       Southeast Europe Equity Fund -                    Equity fund investing in private funds in south-   Equity funds     Private     2005       3,624          0     3,624           0       3,624
           investment     II                                                eastern Europe.




  All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name             Sub project        Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Hungary    Direct         M5 motorway – Phase II   -                  Completion of remaining 47 km of M5 motorway Transport              Private     2004      900,000    100,000        0           0     100,000
           investment




Hungary    Regional       Europolis II             -                  Development of commercial property projects.       Property and     Private     2004       17,162      1,624    2,165           0       3,788
           investment                                                                                                    tourism




Hungary    Direct         EU/EBRD SME Finance      Merkantil          Credit line for on-lending to small and medium-    Insurance and    Private     2005        2,119      2,119        0           0       2,119
           investment     Facility                                    sized businesses.                                  financial
                                                                                                                         services


Hungary    Direct         EU/EBRD SME Finance      FranFinance        Credit lines for on-lending to small and medium-   Insurance and    Private     2004       10,000     10,000        0           0      10,000
           investment     Facility                                    sized businesses.                                  financial
                                                                                                                         services


Hungary    Direct         EU/EBRD SME Finance      HVB Leasing        Credit lines for on-lending to small and medium-   Insurance and    Private     2004       10,295     10,295        0           0      10,295
           investment     Facility                                    sized businesses.                                  financial
                                                                                                                         services


Hungary    Direct         M6 motorway              -                  Financing of the M6 motorway on a design-build- Transport           Private     2005      404,164     25,313        0           0      25,313
           investment                                                 finance-operate basis (DBFO) under a public-
                                                                      private partnership scheme.


Hungary    Direct         Dalkia Prometheus        -                  Additional investment in energy service            Municipal and    Private     2004       13,179         0     1,179           0       1,179
           investment                                                 company.                                           environmental
                                                                                                                         infrastructure


Hungary    Direct         EU/EBRD SME Finance      Deutsche Leasing   Credit line for on-lending to small and medium-    Insurance and    Private     2005       10,055     10,055        0           0      10,055
           investment     Facility                 Hungaria           sized businesses.                                  financial
                                                                                                                         services


Hungary    Regional       Véolia Voda              -                  Equity investment in Véolia Voda enabling it to    Municipal and    Private     2007        8,400         0     8,400           0       8,400
           investment                                                 expand in central and eastern Europe, Russian      environmental
                                                                      and Ukraine.                                       infrastructure


Hungary    Direct         EU/EBRD SME Finance      Budapest Leasing   Credit line for on-lending to small and medium-    Insurance and    Private     2005        5,000      5,000        0           0       5,000
           investment     Facility                                    sized businesses.                                  financial
                                                                                                                         services




  All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project            Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Hungary    Direct         EU/EBRD SME Finance          CIB Leasing            Credit line for on-lending to small and medium-    Insurance and    Private     2005        3,000      3,000        0           0       3,000
           investment     Facility                                            sized businesses.                                  financial
                                                                                                                                 services


Hungary    Regional       Argus Capital Partners II    -                      Private equity fund supporting medium-sized        Equity funds     Private     2005        4,000         0     4,000           0       4,000
           investment                                                         enterprises. Successor to the Argus Capital
                                                                              Partners fund.


Hungary    Regional       Emerging Europe              -                      Direct equity fund investing in central and eastern Equity funds    Private     2005        3,600         0     3,600           0       3,600
           investment     Convergence Fund II                                 Europe.




Hungary    Regional       Véolia Transport (formerly   -                      Equity funding to expand transport services.       Municipal and    Private     2005       47,048         0    15,298           0      15,298
           investment     Connex)                                                                                                environmental
                                                                                                                                 infrastructure


Hungary    Direct         M6 Motorway Refinancing      -                      Loan to finance construction of the M6 motorway. Transport          Private     2006      482,000     32,000        0           0      32,000
           investment




Hungary    Regional       SG AM Eastern Europe         -                      Investment in consumer services and                Equity funds     Private     2005        5,400         0     3,000           0       3,000
           investment                                                         manufacturing companies.




Hungary    Regional       GED Eastern Fund II          -                      Private equity fund investing in small and         Equity funds     Private     2006        7,000         0     2,000           0       2,000
           investment                                                         medium-sized businesses primarily in Bulgaria,
                                                                              Hungary and Romania.


Hungary    Regional       Alpha CEE II                 -                      Diversified regional private equity fund dedicated Equity funds     Private     2006        7,500         0     7,500           0       7,500
           investment                                                         to central and eastern Europe.




Hungary    Regional       Royalton Partners II         -                      Equity financing for local service providers.      Equity funds     Private     2007        5,000         0     5,000           0       5,000
           investment




Hungary    Direct         EU/EBRD Rural Finance        SG Equipment Finance   Funding for leases to farms and small              Insurance and    Private     2007        5,000      5,000        0           0       5,000
           investment     Facility                     Hungary                enterprises for up to €250,000 in rural areas of   financial
                                                                              Hungary.                                           services




  All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project            Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Hungary    Direct         Parmalat                      -                      Acquisition of shares in Parmalat.                 Agribusiness    Private     2005        1,393         0     1,393           0       1,393
           investment




Hungary    Direct         EU/EBRD Rural Financing       -                      Credit line to Budapest Leasing for on-lending to Insurance and    Private     2006        5,000      5,000        0           0       5,000
           investment     Facility                                             small and medium-sized businesses in rural        financial
                                                                               areas.                                            services


Hungary    Regional       AIG New Europe Fund II        -                      Regional private equity fund investing in equity  Equity funds     Private     2006        5,000         0     5,000           0       5,000
           investment                                                          and equity securities of companies in central and
                                                                               south-eastern Europe, subsidiary of AIG Global
                                                                               Investment Group.

Hungary    Regional       Syntaxis Mezzanine Fund       -                      Fund with a portfolio of Central European          Equity funds    Private     2007        2,600         0     2,500           0       2,500
           investment                                                          investments, in various sectors.




Hungary    Regional       Accession Mezzanine Capital   -                      Private equity fund investing in central and south- Equity funds   Private     2007       30,000         0     6,000           0       6,000
           investment     II                                                   eastern European as well as Russia and
                                                                               Ukraine.


Hungary    Direct         HospInvest                    -                      Capital increase in Hungary's first hospital       Manufacturing   Private     2007        4,000         0     4,000           0       4,000
           investment                                                          management company.                                and services




Hungary    Direct         Special Restructuring         Ganz Gipgyar Holding   Design, manufacture, sales and installation of     Equity funds    Private     1996        4,043         0     4,043           0       4,043
           investment     Programme (SRP)                                      engineered products for rail, power and
                                                                               construction machinery.


Hungary    Direct         M6-M60 Motorway               -                      Loan for expansion of the Hungarian motorway       Transport       Private     2008      966,237     75,000        0           0      75,000
           investment                                                          network.




Hungary    Regional       EnerCap                       -                      Private equity fund dedicated to investing in   Power and          Private     2007       10,000         0     2,500           0       2,500
           investment                                                          renewable energy and energy efficiency projects energy
                                                                               in central and south-eastern Europe.


Hungary    Regional       Advent Central and Eastern    -                      Support investment into central and south-         Equity funds    Private     2008        5,000         0     5,000           0       5,000
           investment     Europe IV                                            eastern European and Ukrainian companies.




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project              Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Hungary    Regional       CEE Special Situations Fund   CRG Capital              Investment in an equity fund managed by CRG         Equity funds     Private     2009        3,000         0     3,000           0       3,000
           investment                                                            Partners targeting distressed and under-
                                                                                 performing companies.


Hungary    Regional       Aqualia Investment Venture    -                        Equity in a new company that invests in water       Municipal and    Private     2009       16,327         0     8,000           0       8,000
           investment                                                            concessions and acquires other privately held       environmental
                                                                                 water groups.                                       infrastructure


Hungary    Direct         EU/EBRD Municipal Finance     Raiffeisenbank Hungary   Credit line for on-lending to municipalities for    Bank lending     Private     2009       25,000      9,000        0           0       9,000
           investment     Facility                                               energy efficiency purposes.




Hungary    Direct         OTP Bank                      -                        Loan to support a key bank in response to the       Bank lending     Private     2009      200,000    200,000        0           0     200,000
           investment                                                            global financial crisis.




Hungary    Direct         OTP Bank                      -                        Support for the currency hedging of a strong     Insurance and       Private     2009       38,000         0         0      38,000      38,000
           investment                                                            bank with a regional presence throughout central financial
                                                                                 and eastern Europe.                              services


Hungary    Direct         Unicredit Group               Unicredit Bank Hungary   Medium and long-term debt financing in support      Bank lending     Private     2009       50,000     50,000        0           0      50,000
           investment                                                            of SMEs, lease finance and energy efficiency
                                                                                 projects.


Hungary    Regional       Resource Eastern European     -                        Support for institution building and expansion of   Equity funds     Private     2009        4,200         0     1,250           0       1,250
           investment     Equity Partners I                                      private equity, business improvement and best
                                                                                 ethics and governance.


Hungary    Direct         MOL Hungarian Oil and Gas     -                        The completion and conversion of a reservoir        Natural          Private     2009      200,000    200,000        0           0     200,000
           investment     Public Ltd                                             into an underground gas storage facility.           Resources




Hungary    Direct         Erste Bank                    -                        Credit line for on-lending to small and medium-     Bank lending     Private     2009      100,000     50,000        0           0      50,000
           investment                                                            sized enterprises.




Hungary    Regional       Heitman Eastern European      -                        An equity investment into Heitman European          Property and     Private     2009       18,220         0     3,000           0       3,000
           investment     Property Fund                                          Property Partners IV, an investment vehicle         tourism
                                                                                 pursuing long-term capital appreciation through
                                                                                 real estate investments.




  All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                               (€ 000)
Hungary     Direct         OTP Bank                      -             The project will enhance the capital of OTP,       Bank equity    Private     2009       20,000         0    20,000           0      20,000
            investment                                                 thereby helping the bank to mitigate the impact of
                                                                       the recession and strengthen its market position
                                                                       in the current challenging environment in
                                                                       Hungary as well as in the region in which it
Kazakhstan Direct          Aktau port                    -             Reconstruction of port, modernisation of           Transport      State       1996       50,614     36,743        0           0      36,743
           investment                                                  equipment and expansion of facilities.




Kazakhstan Regional        First NIS Regional Fund       -             Equity fund investing in companies in the New     Equity funds    Private     1994         518          0       310           0         310
           investment                                                  Independent States (NIS).




Kazakhstan Direct          National Bank of Kazakhstan   -             Financing for small and medium-sized              Bank lending    Private     1993       33,307     31,226        0           0      31,226
           investment                                                  enterprises.




Kazakhstan Direct          KTZ track maintenance and     -             Improvement of track maintenance on Almaty-       Transport       State       1999       63,194     45,079        0           0      45,079
           investment      commercialisation project                   Astana line.




Kazakhstan Direct          Ispat-Karmet                  -             Improvement of steel mill and coal mines,         Manufacturing   Private     1997      271,552     37,532        0           0      37,532
           investment                                                  restoring production capacity and improving       and services
                                                                       environmental standards.


Kazakhstan Regional        AIG Silk Road Fund            -             Financing for small and medium-sized private       Equity funds   Private     1997       18,902         0     3,644           0       3,644
           investment                                                  sector enterprises and joint ventures operating in
                                                                       Russia and Central Asia.


Kazakhstan Direct          Kazkommertsbank (KKB)         -             Financing for small and medium-sized              Bank lending    Private     1998       27,741     27,741        0           0      27,741
           investment                                                  enterprises.




Kazakhstan Direct          Turan Alem Towers             -             Construction, letting and management of office    Property and    Private     1999       19,051      6,428        0           0       6,428
           investment                                                  development in Almaty.                            tourism




Kazakhstan Direct          Karaganda power               -             Repair and upgrade of power generation and        Power and       Private     1998       30,862     10,403        0           0      10,403
           investment                                                  heat distribution facilities.                     energy




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project            Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Kazakhstan Direct          Kazakhstan Small Business      -                      Financing for micro and small enterprises.         Small business Private      1998       60,258     60,258        0           0      60,258
           investment      Programme                                                                                                finance




Kazakhstan Direct          Regional Trade Facilitation    Almaty Merchant Bank   Support for foreign trade.                         Bank lending    Private     1998        1,387         0         0       1,387       1,387
           investment      Programme




Kazakhstan Direct          Kazakhtelecom corporate loan -                        Rationalisation of company's financing structure   Telecoms,       Private     1999       17,341     17,341        0           0      17,341
           investment                                                            and development of its telecommunications          informatics and
                                                                                 network.                                           media


Kazakhstan Direct          KEGOC power transmission       -                      Restructuring of Kazakh power sector, reduction Power and          State       1999      177,405     31,209        0           0      31,209
           investment      and rehabilitation project                            of transmission losses and improvement of       energy
                                                                                 electricity supply.


Kazakhstan Direct          Kazakhstan road sector         -                      Upgrade of 245 km section of road between          Transport       State       2000       84,377     18,908        0           0      18,908
           investment      development                                           Almaty and Bishkek and small-scale
                                                                                 improvements to access roads.


Kazakhstan Direct          Regional Trade Facilitation    Bank Turan Alem        Support for foreign trade.                         Bank lending    Private     1999       10,313       772         0         772       1,544
           investment      Programme




Kazakhstan Direct          Regional Trade Facilitation    ATF Bank               Support for foreign trade.                         Bank lending    Private     1999        6,965      3,483        0       3,483       6,965
           investment      Programme




Kazakhstan Direct          Citibank Kazakhstan            -                      Capitalisation of commercial bank and extension Bank lending       Private     2000       13,871     13,871        0           0      13,871
           investment                                                            of lending operations.




Kazakhstan Direct          Regional Trade Facilitation    Kazkommertsbank        Support for foreign trade.                         Bank lending    Private     2001       45,723     22,862        0      22,862      45,723
           investment      Programme




Kazakhstan Regional        Baring Vostok Private Equity   -                      Direct equity investment in medium-sized           Equity funds    Private     2000        3,860         0     1,832           0       1,832
           investment      Fund                                                  companies.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project       Description                                           Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Kazakhstan Direct          Bank Turam Alem leasing     -                 Support for leasing facility via local leasing        Insurance and   Private     2001        3,468      3,468        0           0       3,468
           investment                                                    company.                                              financial
                                                                                                                               services


Kazakhstan Direct          Atyrau Airport              -                 Upgrade of "air-side" facilities and improvement      Transport       State       2001       20,696     17,291        0           0      17,291
           investment                                                    of airport efficiency and air transport operations.




Kazakhstan Direct          Bank Turan Alem             -                 Expansion of BTA’s product range and lending          Bank equity     Private     2001       16,003         0     5,600           0       5,600
           investment                                                    operations.




Kazakhstan Direct          Efes Kazakhstan             -                 Financing for Efes breweries.                         Agribusiness    Private     2001        6,589      6,589        0           0       6,589
           investment




Kazakhstan Direct          Road sector restructuring   -                 Upgrade of 900 km section of road between             Transport       State       2003      171,471     79,735        0           0      79,735
           investment                                                    Atyrau and Aktau.




Kazakhstan Regional        Efes – EBI                  -                 Financing for Efes breweries.                         Agribusiness    Private     2002        2,568       819         0           0         819
           investment




Kazakhstan Direct          Warehouse Receipts          Kazkommertsbank   Short-term lending against warehouse receipts         Bank lending    Private     2002       27,945     17,542        0           0      17,542
           investment      Programme                                     for agribusiness companies, farmers and
                                                                         traders.


Kazakhstan Direct          Kazkommerts Policy          -                 Equity investment in local insurance company.         Insurance and   Private     2003         971        971         0           0         971
           investment                                                                                                          financial
                                                                                                                               services


Kazakhstan Direct          Kazkommertsbank syndicated -                  Financing for strong private sector companies         Bank lending    Private     2002       17,338     10,403        0           0      10,403
           investment      loan                                          with little access to term funding.




Kazakhstan Direct          Warehouse Receipts          Bank Turan Alem   Short-term lending against warehouse receipts         Bank lending    Private     2002       27,741     17,338        0           0      17,338
           investment      Programme                                     for agribusiness companies, farmers and
                                                                         traders.




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project          Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Kazakhstan Direct          Warehouse Receipts             AMB                  Short-term lending against warehouse receipts     Bank lending    Private     2002        1,734      1,734        0           0       1,734
           investment      Programme                                           for agribusiness companies, farmers and
                                                                               traders.


Kazakhstan Direct          Warehouse Receipts             Halyk Savings Bank   Short-term lending against warehouse receipts     Bank lending    Private     2002        3,468      3,468        0           0       3,468
           investment      Programme                                           for agribusiness companies, farmers and
                                                                               traders.


Kazakhstan Direct          Agricultural equipment         ATF Bank             Financing for farmers, agribusiness companies     Agribusiness    Private     2004        4,161      2,081        0           0       2,081
           investment      financing                                           and traders to purchase or lease equipment,
                                                                               provided through ATF Bank.


Kazakhstan Direct          Bank Turan Alem                -                    Financing for private sector companies.           Bank lending    Private     2003       20,806      6,935        0           0       6,935
           investment




Kazakhstan Direct          Warehouse Receipts             Temirbank            Short-term lending against warehouse receipts     Bank lending    Private     2002        2,081      2,081        0           0       2,081
           investment      Programme                                           for agribusiness companies, farmers and
                                                                               traders.


Kazakhstan Direct          BTA Ipoteka mortgage loan      -                    Credit line providing long-term mortgage loans.   Insurance and   Private     2003        3,468      3,468        0           0       3,468
           investment                                                                                                            financial
                                                                                                                                 services


Kazakhstan Direct          KEGOC north-south power        -                    Construction of 270 km YukGres-Shu section of     Power and       State       2004       56,081     24,218        0           0      24,218
           investment      transmission                                        electricity transmission line.                    energy




Kazakhstan Direct          Kenkiyak-Atyrau oil pipeline   -                    Refinancing construction of 448 km oil pipeline   Natural         Private     2004      142,590     56,592        0           0      56,592
           investment                                                          connecting oilfields to main export routes.       Resources




Kazakhstan Direct          Kazakhstan Small Business      Bank Turan Alem      Financing for micro and small enterprises.        Small business Private      2003        6,935      6,935        0           0       6,935
           investment      Programme                                                                                             finance




Kazakhstan Direct          Kazakhstan Small Business      Kazkommertsbank      Financing for micro and small enterprises.        Small business Private      2003        6,935      6,935        0           0       6,935
           investment      Programme                                                                                             finance




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project          Description                                      Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Kazakhstan Direct          Kazakhtelecom (KTC)           -                    Institutional strengthening, modernisation and   Telecoms,       State      2003      76,288      41,612        0           0      41,612
           investment                                                         facilitation of KTC’s privatisation.             informatics and
                                                                                                                               media


Kazakhstan Direct          Kazkommertsbank               -                    Equity investment in Kazakhstan's largest private Bank equity   Private     2003      57,167          0    57,167           0      57,167
           investment                                                         bank.




Kazakhstan Direct          Warehouse Receipts            Kazkommertsbank      Short-term lending against warehouse receipts    Bank lending   Private     2003      39,358      27,741        0           0      27,741
           investment      Programme                                          for agribusiness companies, farmers and
                                                                              traders.


Kazakhstan Direct          Warehouse Receipts            Kazkommertsbank      Short-term lending against warehouse receipts    Agribusiness   Private     2003      58,950       5,201        0           0       5,201
           investment      Programme                                          for agribusiness companies, farmers and
                                                                              traders.


Kazakhstan Direct          Warehouse Receipts            Bank Turan Alem      Short-term lending against warehouse receipts    Bank lending   Private     2003      28,781      17,338        0           0      17,338
           investment      Programme                                          for agribusiness companies, farmers and
                                                                              traders.


Kazakhstan Direct          Kazakhstan Small Business     Halyk Savings Bank   Financing for micro and small enterprises.       Small business Private     2003       6,935       6,935        0           0       6,935
           investment      Programme                                                                                           finance




Kazakhstan Direct          Regional Trade Facilitation   Bank Center Credit   Support for foreign trade.                       Bank lending   Private     2003      24,429      12,215        0      12,215      24,429
           investment      Programme




Kazakhstan Direct          Warehouse Receipts            Bank Center Credit   Short-term lending against warehouse receipts    Bank lending   Private     2003       2,081       2,081        0           0       2,081
           investment      Programme                                          for agribusiness companies, farmers and
                                                                              traders.


Kazakhstan Direct          K-Mobile                      -                    Loan for network development and refinancing of Telecoms,       Private     2005      90,158      45,079        0           0      45,079
           investment                                                         short-term loans.                               informatics and
                                                                                                                              media


Kazakhstan Direct          Kazakhstan Small Business     Bank Turan Alem      Financing for micro and small enterprises.       Small business Private     2003       6,935       6,935        0           0       6,935
           investment      Programme                                                                                           finance




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project          Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Kazakhstan Direct          Kazakhstan Small Business   Bank Center Credit   Financing for micro and small enterprises.         Small business Private      2003       6,935       6,935        0           0       6,935
           investment      Programme                                                                                           finance




Kazakhstan Direct          Kazakhstan Small Business   ATF Bank             Financing for micro and small enterprises.         Small business Private      2004       6,935       6,935        0           0       6,935
           investment      Programme                                                                                           finance




Kazakhstan Direct          Bank Center Credit          -                    For on-lending by the bank to individuals for      Bank lending    Private     2005       6,935       6,935        0           0       6,935
           investment                                                       purchase, construction or refurbishment of their
                                                                            primary residences.


Kazakhstan Direct          BTA Ipoteka mortgage loan   -                    Credit line providing long-term mortgage loans.    Insurance and   Private     2005       3,468       3,468        0           0       3,468
           investment                                                                                                          financial
                                                                                                                               services


Kazakhstan Direct          Accumulation Pension Fund   -                    Pre-privatisation equity investment.               Insurance and   Private     2005      10,000          0     5,677           0       5,677
           investment                                                                                                          financial
                                                                                                                               services


Kazakhstan Direct          Agricultural equipment      Bank Center Credit   Financing for farmers, agribusiness companies      Agribusiness    Private     2004       6,430       4,161        0           0       4,161
           investment      financing                                        and traders to purchase or lease equipment,
                                                                            provided through Bank Centre Credit.


Kazakhstan Direct          Agricultural Commodity      ATF Bank             Commodity financing for small and medium-          Bank lending    Private     2004       4,864       1,396        0           0       1,396
           investment      Financing Programme                              sized agribusinesses.




Kazakhstan Direct          Agricultural Commodity      Bank Caspian         Commodity financing for small and medium-          Bank lending    Private     2004       2,081       2,081        0           0       2,081
           investment      Financing Programme                              sized agribusinesses.




Kazakhstan Direct          Agricultural Commodity      Bank Center Credit   Commodity financing for small and medium-          Bank lending    Private     2004       4,161       4,161        0           0       4,161
           investment      Financing Programme                              sized agribusinesses.




Kazakhstan Direct          Agricultural Commodity      Bank Turan Alem      Commodity financing for small and medium-          Bank lending    Private     2004      45,079      27,741        0           0      27,741
           investment      Financing Programme                              sized agribusinesses.




   All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                      Sub project          Description                                     Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Kazakhstan Regional        Regional Agricultural             -                    Commodity financing for small and medium-      Agribusiness     Private     2004       73,081         0         0      25,574      25,574
           investment      Commodity Programme                                    sized agribusinesses in Kazakhstan and Russia.




Kazakhstan Direct          Tulpar                            -                    Expansion of a residential compound in southern Property and    Private     2005       14,564      4,161        0           0       4,161
           investment                                                             Kazakhstan.                                     tourism




Kazakhstan Direct          Soufflet Multi-Project Facility   Altyn Bidai          Investment in barley producer.                  Agribusiness    Private     2004        9,987      4,855        0           0       4,855
           investment




Kazakhstan Regional        Baring Vostok Private Equity      -                    Private equity fund supporting medium-sized     Equity funds    Private     2004       70,136         0     8,932           0       8,932
           investment      Fund III                                               companies in Kazakhstan, Russia and Ukraine.




Kazakhstan Direct          KEGOC: North-south power          -                    Development of YukGres-Shu power                Power and       State       2005      165,362     33,756        0           0      33,756
           investment      transmission                                           transmission infrastructure.                    energy




Kazakhstan Direct          Kazakhstan Small Business         Bank Center Credit   Financing for micro and small enterprises.      Small business Private      2004        6,935      6,935        0           0       6,935
           investment      Programme                                                                                              finance




Kazakhstan Direct          Central Asia Cement               -                    Expansion and modernisation of the Karaganda    Manufacturing   Private     2005      102,108     29,128        0           0      29,128
           investment                                                             cement plant.                                   and services




Kazakhstan Direct          Kazkommertsbank capital           -                    Equity investment in bank.                      Bank equity     Private     2005        3,871         0     3,871           0       3,871
           investment      increase




Kazakhstan Direct          RG Brands                         -                    Investment to help local beverage producer to   Agribusiness    Private     2008       71,780     17,338        0           0      17,338
           investment                                                             build a new production plant in Almaty.




Kazakhstan Direct          Warehouse Receipts                Kazkommertsbank      Short-term lending against warehouse receipts   Bank lending    Private     2005       34,330     21,846        0           0      21,846
           investment      Programme                                              for agribusiness companies, farmers and
                                                                                  traders.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project            Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Kazakhstan Direct          Agricultural Commodity      Bank Center Credit     Financing of agricultural commodities against      Agribusiness    Private     2005      16,541      14,044        0           0      14,044
           investment      Financing Programme                                warehouse receipts.




Kazakhstan Direct          Agricultural Commodity      ATF Bank               Financing of agricultural commodities against      Agribusiness    Private     2005       7,169       4,672        0           0       4,672
           investment      Financing Programme                                warehouse receipts.




Kazakhstan Direct          Agricultural Commodity      Bank Caspian           Financing of agricultural commodities against      Agribusiness    Private     2005      11,305       8,808        0           0       8,808
           investment      Financing Programme                                warehouse receipts.




Kazakhstan Direct          Savola Kazakhstan           -                      Expansion of crushing and refining facilities at   Agribusiness    Private     2005      25,661      18,032        0           0      18,032
           investment                                                         edible oil producer.




Kazakhstan Direct          Bank Caspian                -                      Loan for on-lending to micro, small and medium- Small business Private         2007      40,918      40,918        0           0      40,918
           investment                                                         sized enterprises.                              finance




Kazakhstan Direct          Bericap Kazakhstan          -                      Construction of purpose-built facilities for       Manufacturing   Private     2006       1,734       1,734        0           0       1,734
           investment                                                         company producing plastic lids.                    and services




Kazakhstan Direct          Bautino Atash Marine and    -                      Construction of a supply base catering for         Natural         Private     2006      47,791      12,900        0           0      12,900
           investment      Supply Base                                        offshore oilfield operators.                       Resources




Kazakhstan Direct          Kazakhstan Small Business   Kazakhstan Loan Fund   Credit line for on-lending to micro and small      Small business Private      2005       3,639       3,639        0           0       3,639
           investment      Programme                   (KLF)                  enterprises, focusing on agribusiness loans.       finance




Kazakhstan Direct          Kazakhstan Small Business   Alliance Bank          Credit line for on-lending to micro and small      Small business Private      2006       3,468       3,468        0           0       3,468
           investment      Programme III                                      enterprises.                                       finance




Kazakhstan Direct          Warehouse Receipts          -                      Short-term lending against warehouse receipts      Bank lending    Private     2006       3,468       3,468        0           0       3,468
           investment      Programme                                          for agribusiness companies, farmers and
                                                                              traders.




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                      Sub project           Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Kazakhstan Direct          Alliance Bank                     -                     Loan provided for on-lending to local small and   Bank lending    Private     2006       6,935       6,935        0           0       6,935
           investment                                                              medium-sized businesses.




Kazakhstan Direct          Bautino Atash Marine and          -                     Equity investment in supply base catering for     Natural         Private     2007       7,926          0     7,926           0       7,926
           investment      Supply Base                                             offshore oilfield operators.                      Resources




Kazakhstan Direct          Steppe Cement                     -                     Loan covering expansion and modernisation of      Manufacturing   Private     2006      14,863          0     1,859           0       1,859
           investment                                                              the Karaganda cement plant.                       and services




Kazakhstan Regional        Clean Globe International Oil     -                     Establishment of crude oil spill response centres Natural         Private     2007       7,505        425         0           0         425
           investment      Spill Protection                                        in key locations in the Bank’s countries of       Resources
                                                                                   operations and provision of regional training,
                                                                                   prevention and remedial services

Kazakhstan Direct          Kazakhstan Kagazy                 -                     Loan to complete the restructuring and            Manufacturing   Private     2007      33,000      20,000        0           0      20,000
           investment                                                              expansion of a paper business.                    and services




Kazakhstan Regional        Centras Private Equity Fund       -                     Private equity fund investing in companies        Equity funds    Private     2007       7,340          0     7,340           0       7,340
           investment                                                              operating in or exporting products or services
                                                                                   from Kazakhstan, Russia and Central Asia.


Kazakhstan Direct          Soufflet Multi-project Facility   Kazakhstan ACL 2007   Financing of barley for malt production.          Agribusiness    Private     2007      12,875      12,875        0           0      12,875
           investment




Kazakhstan Direct          Kazkommertsbank                   -                     Equity investment to promote growth of            Bank equity     Private     2006      89,267          0    89,267           0      89,267
           investment                                                              Kazakhstan’s largest commercial bank.




Kazakhstan Direct          Mittal Steel Temirtau             -                     Loan for improvements to health and safety.       Manufacturing   Private     2007      69,353      69,353        0           0      69,353
           investment                                                                                                                and services




Kazakhstan Direct          Derbes Brewery                    -                     Loan to improve production, marketing and         Agribusiness    Private     2007      90,489      28,885        0           0      28,885
           investment                                                              distribution activities.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project       Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Kazakhstan Direct          KazInvestBank                  -                 Support for regional expansion and development Bank equity          Private     2007       15,032         0    15,032           0      15,032
           investment                                                       of retail and SME lending activities.




Kazakhstan Direct          Kazkommertsbank                -                 Syndicated loan to diversify lending activities into Bank lending   Private     2007      208,059     69,353        0           0      69,353
           investment                                                       mortgage financing.




Kazakhstan Regional        Baring Vostok Private Equity   -                 Private equity fund investing in middle-market     Equity funds     Private     2007       72,810         0     2,070           0       2,070
           investment      Fund IV                                          enterprises.




Kazakhstan Direct          Efes Kazakhstan                -                 Local currency loan to finance expansion.          Agribusiness     Private     2007       24,290     24,290        0           0      24,290
           investment




Kazakhstan Direct          Kazakhstan Kagazy Equity       -                 Finance to complete the restructuring and          Manufacturing    Private     2007       14,163      3,468    3,468           0       6,935
           investment      Investment                                       expansion of a paper business.                     and services




Kazakhstan Regional        Clean Globe Oil Spill          -                 Equity investment in oil spill response centres.   Natural          Private     2007        2,040         0       240           0         240
           investment      Investment                                                                                          Resources




Kazakhstan Direct          Post Privatisation Fund        -                 Equity fund supporting financial and operational   Equity funds     Private     1996       24,443         0    24,443           0      24,443
           investment                                                       restructuring of medium-sized enterprises.




Kazakhstan Regional        Troika Dialogue                -                 Loan to encourage development of financial         Insurance and    Private     2007       20,632      8,842        0           0       8,842
           investment                                                       intermediation in Russia and the CIS and foster    financial
                                                                            competition on the local capital markets.          services


Kazakhstan Direct          Pavlodar Energo                -                 Loan to finance refurbishment of energy            Power and        Private     2007       20,806     20,806        0           0      20,806
           investment                                                       production facilities in northern Kazakhstan.      energy




Kazakhstan Direct          Kazakhstan Small Business      KazMicroFinance   Local currency loan for on-lending to small        Small business Private       2007        1,688      1,688        0           0       1,688
           investment      Programme III                                    businesses.                                        finance




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                            Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Kazakhstan Regional        Meinl Caucasus and Central      -             Finance for the development of high-quality,           Property and   Private     2007      206,223         0    72,188           0      72,188
           investment      Asia                                          international standard retail and mixed-use            tourism
                                                                         properties in Caucasus and Central Asia.


Kazakhstan Regional        Russia Partners III             -             agribusinesses in Kazakhstan and Russia.               Equity funds   Private     2007        8,160         0     8,160           0       8,160
           investment




Kazakhstan Regional        Baring Vostok Private Equity    -             Private equity fund investing in Russia,               Equity funds   Private     2007       31,267         0     3,462           0       3,462
           investment      Supplemental Fund                             Kazakhstan and Ukraine.




Kazakhstan Regional        Kazakhstan Growth Fund          -             Equity investments to strengthen private               Equity funds   Private     2008       25,794         0    23,583           0      23,583
           investment                                                    companies.




Kazakhstan Direct          KEGOC Modernisation II          -             Loan to modernise national transmission                Power and      State       2008      254,990    127,495        0           0     127,495
           investment                                                    operator.                                              energy




Kazakhstan Direct          Bautino II                      -             Loan for construction of a vessel maintenance          Natural        Private     2008       12,033      8,530        0           0       8,530
           investment                                                    facility.                                              Resources




Kazakhstan Direct          Almaty Bottlers                 -             Loan to finance the expansion and modernisation Agribusiness          Private     2008       27,741     27,741        0           0      27,741
           investment                                                    of bottle production facilities and distribution
                                                                         networks.


Kazakhstan Direct          Bank CenterCredit               -             Loan to support expansion and development of           Small business Private     2008       34,676     34,676        0           0      34,676
           investment                                                    micro, small and medium-sized enterprises in           finance
                                                                         Kazakhstan.


Kazakhstan Direct          Bank Center Credit Energy       -             Credit lines to local financial institutions for on-   Bank lending   Private     2008        6,935      6,935        0           0       6,935
           investment      Efficiency Financing Facility                 lending to sustainable energy projects.




Kazakhstan Direct          Bank Caspian                    -              Loan for financing of micro, small and medium-        Small business Private     2008       27,741     27,741        0           0      27,741
           investment                                                    sized enterprises and entrepreneurs across             finance
                                                                         Kazakhstan.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project   Description                                         Sector           Portfolio   Year of       Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing     project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Kazakhstan Regional        Aureos Central Asia Fund       -             Equity investment to support medium-sized           Equity funds     Private     2008         4,963          0     4,963           0       4,963
           investment                                                   enterprises in Azerbaijan, Central Asia and
                                                                        Georgia.


Kazakhstan Direct          Efes Kazakhstan Expansion II -               Extension on investment to finance expansion of Agribusiness         Private     2008        27,741      11,096        0           0      11,096
           investment                                                   a brewing company in Karaganda and Almaty.




Kazakhstan Direct          Almaty Electrotrans            -             A loan to upgrade the electric transport network    Municipal and    State       2009         6,935       6,935        0           0       6,935
           investment                                                   of trams and trolleybuses in Almaty.                environmental
                                                                                                                            infrastructure


Kazakhstan Direct          RTSDecaux                      -             Support for the expansion of street furniture and   Telecoms,       Private      2009         4,855       3,468        0           0       3,468
           investment                                                   outdoor advertising operations in Astana.           informatics and
                                                                                                                            media


Kazakhstan Direct          KTZ Transtelecom               -             Loan to upgrade telecommunications                  Transport        State       2008        92,239      38,144        0           0      38,144
           investment      Communication Infrastructure                 infrastructure.
                           Modernisation


Kazakhstan Regional        Macquarie Renaissance          -             Supporting infrastructure projects in Kazakhstan, Transport          Private     2008        95,360          0    17,338           0      17,338
           investment      Infrastructure Fund                          Russia and Ukraine.




Kazakhstan Direct          South-West Corridor            -             Reconstruction of 102 kilometres of road            Transport        State       2009      2,999,515    124,835        0           0     124,835
           investment                                                   between Aktobe and Martuk to the Russian
                                                                        border.


Kazakhstan Direct          Shymkent Vodokanal             -             Loan to a private water utility in Shymkent to      Municipal and    Private     2009         5,548       5,548        0           0       5,548
           investment                                                   upgrade the water and wastewater system.            environmental
                                                                                                                            infrastructure


Kazakhstan Direct          Unicredit Group                ATF Bank      Loan to Unicredit subsidiaries in support of        Bank lending     Private     2009        20,806      20,806        0           0      20,806
           investment                                                   energy efficiency projects.




Kazakhstan Direct          CAEPCo                         -             Equity for CAEPCo's investment programme,           Power and        Private     2009       271,023          0    42,756           0      42,756
           investment                                                   including upgrading generation and distribution     energy
                                                                        assets.




   All investments 1991- 2009
                                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project                 Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Kazakhstan Direct          Mid-sized Corporate Support   Steppe Equity 2             Support for a cement producer.                     Manufacturing    Private     2009       11,290         0       666           0         666
           investment      Facility                                                                                                     and services




Kazakhstan Regional        Soufflet Agriculture          -                           Loan for working capital.                          Agribusiness     Private     2009       10,000     10,000        0           0      10,000
           investment




Kazakhstan Direct          Unicredit Group               ATF Bank                    Credit line to Unicredit subsidiaries for on-lending Bank lending   Private     2009       48,547     48,547        0           0      48,547
           investment                                                                to micro, small and medium-sized businesses.




Kazakhstan Direct          Mid-Sized Corporate Support   Almaty Bottlers Extension   Finance to ease liquidity constraings at a Kazakh Agribusiness      Private     2009       17,338     17,338        0           0      17,338
           investment      Facility                                                  bottling plant.




Kazakhstan Direct          Bank CenterCredit             -                           Five-year loan to be used for on-lending to micro, Bank lending     Private     2009       34,676     17,338        0           0      17,338
           investment                                                                small and medium-sized enterprises across
                                                                                     Kazakhstan.


Kazakhstan Direct          Kazexportastyk                -                           A loan to an integrated agro-industrial holding, to Agribusiness    Private     2009       48,547     13,871        0           0      13,871
           investment                                                                finance working capital to maintain and expand a
                                                                                     modernisation programme.


Kazakhstan Direct          Kazakhstan Small Business     Kazmicrofinance III         Local currency loan for on-lending to small        Small business Private       2009        2,102      1,051        0           0       1,051
           investment      Programme III                                             businesses.                                        finance




Kyrgyz      Regional       First NIS Regional Fund       -                           Equity fund investing in companies in the New      Equity funds     Private     1994         518          0       310           0         310
Republic    investment                                                               Independent States (NIS).




Kyrgyz      Direct         Kumtor Gold Company           -                           Expansion of gold mining facilities.               Natural          Private     1995      302,711     10,026   10,026           0      20,052
Republic    investment                                                                                                                  Resources




Kyrgyz      Direct         Kyrgyz Agribusiness Company -                             Supply of farm equipment, storage facilities and   Agribusiness     Private     1995       13,716      5,081        0           0       5,081
Republic    investment     (KAC)                                                     assistance with processing, marketing and
                                                                                     distribution of grain products.




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project   Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Kyrgyz      Direct         SME credit line                -             Financing for small and medium-sized                Bank lending    Private     1995       7,282       7,282        0           0       7,282
Republic    investment                                                  enterprises.




Kyrgyz      Direct         Kyrgyz Telecommunications      -             Modernisation and expansion of national             Telecoms,       State       1994      39,389       6,505        0           0       6,505
Republic    investment                                                  telecommunications network.                         informatics and
                                                                                                                            media


Kyrgyz      Direct         Talas transmission network     -             Improvement of transmission and distribution        Power and       State       1995      25,806      25,791        0           0      25,791
Republic    investment                                                  network in the Talas region.                        energy




Kyrgyz      Direct         Talas transmission network     -             Improvement of transmission and distribution        Power and       State       1997      17,158      16,208        0           0      16,208
Republic    investment                                                  network in the Talas region.                        energy




Kyrgyz      Direct         Demirbank Kyrgyzstan           -             Equity investment in Demirbank.                     Bank equity     Private     1996       2,252        439         0           0         439
Republic    investment




Kyrgyz      Direct         Hotel Kyrgyzstan               -             Refurbishment of hotel to four-star international   Property and    Private     1997      16,298       5,548        0           0       5,548
Republic    investment                                                  standard.                                           tourism




Kyrgyz      Direct         Kyrgyz Investment and Credit   -             Development of bank specialising in commercial Bank equity          Private     2001      11,417        615     1,231           0       1,846
Republic    investment     Bank (KICB)                                  and project term loans, trade finance and short-
                                                                        term working capital.


Kyrgyz      Direct         Bistyle (formerly New Kadam) -               Financing for footwear manufacturer.                Manufacturing   Private     1998         648          0       648           0         648
Republic    investment                                                                                                      and services




Kyrgyz      Direct         SME credit line                -             Financing for small and medium-sized                Bank lending    Private     1998         104        104         0           0         104
Republic    investment                                                  enterprises.




Kyrgyz      Direct         Kyrgyz Agribusiness Company -                Supply of farm equipment, storage facilities and    Agribusiness    State       1999       4,161       4,161        0           0       4,161
Republic    investment     (KAC)                                        assistance with processing, marketing and
                                                                        distribution of grain products.




   All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project                 Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                              (€ 000)
Kyrgyz      Direct         Direct Investment Facility    Besser Kyrgyzstan           Establishment of concrete masonry block and        Manufacturing   Private     2001       1,148          0       624           0         624
Republic    investment                                                               paving stone production plant.                     and services




Kyrgyz      Direct         Regional Trade Facilitation   Demir Kyrgyz International Support for foreign trade.                          Bank lending    Private     2000          13          0         0          13          13
Republic    investment     Programme                     Bank




Kyrgyz      Direct         Kyrgyz Agribusiness Company -                             Supply of farm equipment, storage facilities and   Agribusiness    State       2000         555        555         0           0         555
Republic    investment     (KAC)                                                     assistance with processing, marketing and
                                                                                     distribution of grain products.


Kyrgyz      Direct         Direct Investment Facility    Issyk-Ata hydro power       Upgrade of hydropower plant.                       Power and       Private     2001         770          0       427           0         427
Republic    investment                                   station                                                                        energy




Kyrgyz      Direct         Kyrgyz Agribusiness Company -                             Supply of farm equipment, storage facilities and   Agribusiness    Private     1995         572        572         0           0         572
Republic    investment     (KAC)                                                     assistance with processing, marketing and
                                                                                     distribution of grain products.


Kyrgyz      Direct         Direct Investment Facility    BDC-Vytas                   Expansion of dental clinic network, acquisition of Manufacturing   Private     2001       1,194          0       651           0         651
Republic    investment                                                               new premises and purchase of medical               and services
                                                                                     equipment.


Kyrgyz      Direct         Direct Investment Facility    Kalipso                     Development of water relaxation centre.            Manufacturing   Private     2001       1,016          0       592           0         592
Republic    investment                                                                                                                  and services




Kyrgyz      Direct         Regional Trade Facilitation   Kyrgyz Investment and       Support for foreign trade.                         Bank lending    Private     2001         518          0         0         518         518
Republic    investment     Programme                     Credit Bank (KICB)




Kyrgyz      Direct         Direct Investment Facility    Ala-Archa                   Construction of modern residential complex.        Property and    Private     2001       1,418          0       808           0         808
Republic    investment                                                                                                                  tourism




Kyrgyz      Direct         Kyrgyz MSE Finance Facility   Inexim Bank                 Financing for micro and small enterprises.         Small business Private      2002       1,248        607         0           0         607
Republic    investment                                                                                                                  finance




   All investments 1991- 2009
                                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project                Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Kyrgyz      Direct         Inexim Bank                   -                          Equity investment in Inexim Bank with Temir          Bank equity     Private     2003       3,707        986       986           0       1,973
Republic    investment                                                              Bank Kazakhstan.




Kyrgyz      Direct         Kyrgyz MSE Finance Facility   AKB Kyrgyzstan             Financing for micro and small enterprises.           Small business Private      2003       2,081        832         0           0         832
Republic    investment                                                                                                                   finance




Kyrgyz      Direct         Interglass                    -                          Introduction of production lines for silver mirror   Manufacturing   Private     2004      13,337       5,500        0           0       5,500
Republic    investment                                                              glass and tempered glass.                            and services




Kyrgyz      Direct         Kyrgyz MSE Finance Facility   Inexim Bank                Credit lines to Inexim Bank for on-lending to        Small business Private      2004       2,081        936         0           0         936
Republic    investment                                                              micro, small and medium-sized businesses.            finance




Kyrgyz      Regional       Centerra Gold (formerly       -                          Equity investment in gold producer.                  Natural         Private     2004      10,170          0    10,170           0      10,170
Republic    investment     Kumtor Gold Company)                                                                                          Resources




Kyrgyz      Direct         Kyrgyz MSE Finance Facility   AKB Kyrgystan              Credit lines to AKB Kyrgyzstan for on-lending to     Small business Private      2004       3,121        936         0           0         936
Republic    investment                                                              micro, small and medium-sized businesses.            finance




Kyrgyz      Direct         Kyrgyz MSE Finance Facility   Inexim Bank                Financing for micro and small enterprises.           Small business Private      2005       2,982       1,543        0           0       1,543
Republic    investment                                                                                                                   finance




Kyrgyz      Direct         Raduga-II                     -                          Expansion of Raduga tourist resort at Issyk-Kul      Property and    Private     2005      11,096       4,161        0           0       4,161
Republic    investment                                                              Lake.                                                tourism




Kyrgyz      Direct         Direct Lending Facility       Cotton Corporate Limatex   Working capital facility.                            Agribusiness    Private     2005         694        694         0           0         694
Republic    investment                                   WC Facility




Kyrgyz      Direct         Kyrgyz MSE Finance Facility   Kazkommertsbank            Financing for micro and small enterprises.           Small business Private      2005       3,468       1,560        0           0       1,560
Republic    investment                                                                                                                   finance




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project          Description                                      Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Kyrgyz      Direct         Kyrgyz MSE Finance Facility II ECO Bank           Credit lines for on-lending to micro and small   Small business Private     2006         347        347         0           0         347
Republic    investment                                                       businesses.                                      finance




Kyrgyz      Direct         Inexim Bank                  -                    Equity investment.                               Bank equity    Private     2005       1,288          0     1,288           0       1,288
Republic    investment




Kyrgyz      Direct         ETC Non-Bank MFI             Bai Tushum           Financing for micro and small enterprises.       Small business Private     2005       1,387       1,179        0           0       1,179
Republic    investment     Framework                                                                                          finance




Kyrgyz      Direct         ETC Non-Bank MFI             Finca Micro Credit   Financing for micro and small enterprises.       Small business Private     2005       1,387       1,040        0           0       1,040
Republic    investment     Framework                    Company                                                               finance




Kyrgyz      Direct         OJSC Aiyl Bank               -                    Support for micro, small and medium-sized        Small business Private     2006       1,387       1,387        0           0       1,387
Republic    investment                                                       businesses through on-lending to micro and       finance
                                                                             small businesses, and prepare KAFC for
                                                                             transformation into a bank.

Kyrgyz      Direct         ETC Non-bank MFI             Kompanion            Credit line for on-lending to micro, small and   Small business Private     2007         694        694         0           0         694
Republic    investment     Framework II                                      medium-sized businesses.                         finance




Kyrgyz      Direct         Medium-sized Loan Co-        Abdysh-Ata           Sub-loan to Abdysh-Ata brewery through Kyrgyz Agribusiness      Private     2005         900        450         0           0         450
Republic    investment     financing Facility                                Investment Credit Bank.




Kyrgyz      Direct         Direct Lending Facility      Karven Village       Finance for development of cottages and          Property and   Private     2006         784        784         0           0         784
Republic    investment                                                       apartments at lake resort.                       tourism




Kyrgyz      Direct         Kyrgyz MSE Finance Facility II KICB MSE           Credit lines for on-lending to micro and small   Small business Private     2006       2,081       2,081        0           0       2,081
Republic    investment                                                       businesses.                                      finance




Kyrgyz      Direct         Direct Lending Facility      Orion Hotels         Financing construction of an office complex.     Property and   Private     2006       2,774       2,774        0           0       2,774
Republic    investment                                                                                                        tourism




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project             Description                                         Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Kyrgyz      Direct         Direct Investment Facility    Karven Club             Financing construction of resort, consisting of     Property and   Private     2006         210          0       210           0         210
Republic    investment                                                           residences and sports and leisure facilities.       tourism




Kyrgyz      Direct         ETC Non-bank MFI              Bai Tushum              Credit line provided to increase financing to the   Small business Private     2006         694          0         0         694         694
Republic    investment     Framework II                                          smallest enterprises through on-lending.            finance




Kyrgyz      Regional       Centras Private Equity Fund   -                       Private equity fund investing in companies          Equity funds   Private     2007         629          0       629           0         629
Republic    investment                                                           operating in or exporting products or services
                                                                                 from Kazakhstan, Russia and Central Asia.


Kyrgyz      Direct         ETC Non-bank MFI              Frontiers               Loan to support micro enterprises in Kyrgyz         Small business Private     2007         694        694         0           0         694
Republic    investment     Framework II                                          Republic.                                           finance




Kyrgyz      Direct         Direct Lending Facility       Karven Four Seasons     Financing construction of resort, consisting of     Property and   Private     2006       2,635       2,635        0           0       2,635
Republic    investment                                                           residences and sports and leisure facilities.       tourism




Kyrgyz      Direct         Medium-sized Loan Co-         Kyrgyz Investment and   Financing the expansion of the Silk Road lodge      Property and   Private     2007       1,400        700         0           0         700
Republic    investment     financing Facility            Credit Bank             hotel.                                              tourism




Kyrgyz      Direct         Kyrgyz Financial Sector       Kyrgyz Investment and   Loan to KICB to encourage tourism opportunities Bank lending       Private     2007       2,081       2,081        0           0       2,081
Republic    investment     Framework                     Credit Bank             for small businesses.




Kyrgyz      Direct         Kyrgyz MSE Finance Facility II Kazkommertsbank        Loan for on-lending to micro, small and medium- Small business Private         2007       2,774       2,774        0           0       2,774
Republic    investment                                                           sized enterprises.                              finance




Kyrgyz      Direct         Kyrgyz Financial Sector       Kyrgyz Investment and   Loan to KICB for on-lending to residential          Bank lending   Private     2007       1,387       1,387        0           0       1,387
Republic    investment     Framework                     Credit Bank             mortgage customers.




Kyrgyz      Direct         ETC Non-bank MFI              -                       Investment to increase financing for MSEs in the Small business Private        2008       1,387       1,387        0           0       1,387
Republic    investment     Framework II                                          ETCs and to assist non-bank microfinance         finance
                                                                                 institutions.




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project                Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Kyrgyz      Regional       Kazakhstan Growth Fund       -                          Equity investments to strengthen private          Equity funds     Private     2008         910          0       832           0         832
Republic    investment                                                             companies.




Kyrgyz      Direct         Direct Investment Facility   Dairy Spring               Portfolio of equity-driven investments in primarily Agribusiness   Private     2008       1,213          0       935           0         935
Republic    investment                                                             small and medium-sized private sector
                                                                                   enterprises.


Kyrgyz      Direct         Direct Lending Facility      Stolichnyi Confectionery   Loans facility for medium to large-sized local    Agribusiness     Private     2008         681        681         0           0         681
Republic    investment                                                             private companies in the Early Transition
                                                                                   Countries.


Kyrgyz      Direct         Direct Lending Facility      Travertine                 Loans facility for medium to large-sized local    Manufacturing    Private     2008         555        555         0           0         555
Republic    investment                                                             private companies in the Early Transition         and services
                                                                                   Countries.


Kyrgyz      Direct         ETC Non-Bank MFI             Kompanion II               Investment to increase financing from micro and Small business Private         2008       2,081       2,081        0           0       2,081
Republic    investment     Framework II                                            small enterprises in the Early Transition       finance
                                                                                   Countries and to assist the non-bank
                                                                                   microfinance institutions.

Kyrgyz      Direct         Osh-Isfana road              -                          Upgrading of part of the Osh–Batken–Isfana        Transport        State       2009      49,012      24,274        0           0      24,274
Republic    investment                                                             road in the south-west of the country.




Kyrgyz      Direct         Direct Lending Facility      Bravo                      DLF loans under Early Transition Country          Property and     Private     2008       2,289       2,289        0           0       2,289
Republic    investment                                                             Initiative to local quarry and housing            tourism
                                                                                   development.


Kyrgyz      Direct         Bishkek Water Supply         -                          Loan to Bishkek Water Company to upgrade the Municipal and         State       2009      11,800       5,500        0           0       5,500
Republic    investment                                                             city's existing infrastructure.              environmental
                                                                                                                                infrastructure


Kyrgyz      Regional       Aureos Central Asia Fund     -                          Equity investment to support medium-sized         Equity funds     Private     2008         567          0       567           0         567
Republic    investment                                                             enterprises in Azerbaijan, Central Asia and
                                                                                   Georgia.


Kyrgyz      Direct         Direct Lending Facility      Elmira                     Financing for the construction of a hotel in Issyk- Property and   Private     2009         832        832         0           0         832
Republic    investment                                                             Kul.                                                tourism




   All investments 1991- 2009
                                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project                Description                                            Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Kyrgyz      Direct         Unicredit Group             ATF Bank                   Credit line to Unicredit subsidiaries for on-lending Small business Private        2009      13,871       6,935        0           0       6,935
Republic    investment                                                            to micro, small and medium-sized businesses.         finance




Kyrgyz      Direct         Kyrgyz Financial Sector     Kyrgyz Investment and      Credit line to finance micro, small and medium-        Small business Private      2009       3,468       2,081        0           0       2,081
Republic    investment     Framework                   Credit Bank                sized enterprises operating in the Kyrgyz              finance
                                                                                  Republic.


Kyrgyz      Direct         Kyrgyz Financial Sector     Demir Kyrgyz International Credit line to finance micro, small and medium-        Small business Private      2009       2,774       2,774        0           0       2,774
Republic    investment     Framework                   Bank                       sized enterprises operating in the Kyrgyz              finance
                                                                                  Republic.


Kyrgyz      Direct         ETC Non-bank Microfinance   Frontiers II               Credit line for on-lending to micro and small          Small business Private      2009       1,387        694         0           0         694
Republic    investment     Institution Framework III                              enterprises.                                           finance




Kyrgyz      Direct         ETC Non-bank Microfinance   FINCA MCC                  Loan to FINCA International for on-lending to          Small business Private      2009       2,044       1,022        0           0       1,022
Republic    investment     Institution Framework III                              micro and small businesses.                            finance




Kyrgyz      Direct         Direct Lending Facility     Interglass II              Support for the modernisation of Interglass, the       Manufacturing   Private     2009      10,000      10,000        0           0      10,000
Republic    investment                                                            largest industrial glass manufacturer in Central       and services
                                                                                  Asia, with a loan to upgrade the plant’s facilities.


Kyrgyz      Direct         Medium-sized Loan Co-       Demir Kyrgyz International Finance for the construction of a shopping             Agribusiness    Private     2009         173        173         0           0         173
Republic    investment     financing Facility          Bank                       centre.




Kyrgyz      Direct         ETC Non-bank Microfinance   Mol Bulak Finance          Local currency loan for on-lending to small            Small business Private      2009         690        344         0           0         344
Republic    investment     Institution Framework III                              businesses.                                            finance




Kyrgyz      Direct         Direct Lending Facility     Sary Tash                  Financing the purchase of stone processing             Manufacturing   Private     2009         694        694         0           0         694
Republic    investment                                                            equipment.                                             and services




Latvia      Regional       First NIS Regional Fund     -                          Equity fund investing in companies in the New          Equity funds    Private     1994         518          0       310           0         310
            investment                                                            Independent States (NIS).




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Latvia      Direct         Emergency energy sector      -             Repair of energy supply infrastructure to reduce   Power and        State       1992      31,104      24,230        0           0      24,230
            investment     reconstruction                             oil and gas demands and emissions.                 energy




Latvia      Direct         Investment Bank of Latvia    -             Equity investment.                                 Bank equity      Private     1994       7,916          0     1,402           0       1,402
            investment




Latvia      Regional       Baltic Investment Fund       -             Private equity fund investing in medium-sized      Equity funds     Private     1995       5,378          0     1,627           0       1,627
            investment                                                companies.




Latvia      Direct         Daugava Riga Radisson Hotel -              Refurbishment and upgrade of hotel to              Property and     Private     1994      29,683       8,322        0           0       8,322
            investment                                                international four-star standard.                  tourism




Latvia      Direct         Riga International Airport   -             Upgrade of existing runway, taxiways and lighting Transport         State       1993       8,007       7,245        0           0       7,245
            investment                                                system.




Latvia      Direct         Daugava hydro power plant    -             Refurbishment of power plant, including upgrade Power and           State       1996      51,269      16,271        0           0      16,271
            investment     upgrade                                    and replacement of equipment and modification energy
                                                                      of operations.


Latvia      Direct         Riga environment project     -             Upgrade and expansion of water treatment           Municipal and    State       1996      67,108      11,501        0           0      11,501
            investment                                                plants.                                            environmental
                                                                                                                         infrastructure


Latvia      Direct         Road rehabilitation          -             Upgrade of Latvia’s main road network.             Transport        State       1994      22,446       6,911        0           0       6,911
            investment




Latvia      Direct         Hansabanka                   -             Financing for small and medium-sized               Bank lending     Private     1995       6,644       3,887        0           0       3,887
            investment                                                enterprises.




Latvia      Direct         Eurovision                   -             Design, supply and installation of earth station   Telecoms,       State        1996         618        618         0           0         618
            investment                                                linked to the Eurovision Network via satellite.    informatics and
                                                                                                                         media




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Latvia      Direct         Ventspils port                -             Construction and operation of terminal servicing   Transport       State       1998      99,826      24,226        0           0      24,226
            investment                                                 general cargo traffic from the Baltic Sea.




Latvia      Regional       MBA loan project              -             Financial support for students undertaking MBA     Bank lending    Private     1995         170         54         0          41          95
            investment                                                 degrees at top-tier business schools.




Latvia      Direct         Latvijas Unibanka             -             Extension of private sector lending activities.    Bank lending    Private     1995       7,320       6,588        0           0       6,588
            investment




Latvia      Direct         Hansabanka (formerly Latvijas -             Equity investment strengthening capital and        Bank equity     Private     1996       1,802          0     1,802           0       1,802
            investment     Zemes Banka)                                expanding corporate lending.




Latvia      Direct         Latvijas Unibanka             -             Privatisation of Latvia's largest commercial bank. Bank equity     Private     1996       7,736          0     7,736           0       7,736
            investment




Latvia      Direct         Pirma Banka (formerly Rigas   -             Restructuring of banking operations.               Bank equity     Private     1996       4,422          0     4,422           0       4,422
            investment     Komercbanka)




Latvia      Direct         Latvia GSM mobile             -             Construction and operation of national digital     Telecoms,       Private     1997      68,374       7,543    7,543           0      15,087
            investment     telecommunications                          mobile telecommunications network.                 informatics and
                                                                                                                          media


Latvia      Regional       Baltic Small Equity Fund      -             Investment in small companies which are unable Equity funds        Private     1997       3,004          0     1,439           0       1,439
            investment                                                 to access early-stage equity capital.




Latvia      Direct         Hansabanka                    -             Financing for small and medium-sized               Bank lending    Private     1997       2,774       2,774        0           0       2,774
            investment                                                 enterprises.




Latvia      Direct         Valdemara Centre              -             Development of office building.                    Property and    Private     1996      13,589       4,626        0           0       4,626
            investment                                                                                                    tourism




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Latvia      Regional       Baring Communications         -             Private equity fund targeting the media and        Telecoms,       Private     1997       1,656          0       372           0         372
            investment                                                 communications sector.                             informatics and
                                                                                                                          media


Latvia      Direct         Saules Banka                  -             Financing for small and medium-sized               Bank lending    Private     1997       3,221       3,221        0           0       3,221
            investment                                                 enterprises.




Latvia      Direct         Pirma Banka                   -             Financing for small and medium-sized               Bank lending    Private     1998       6,242       6,242        0           0       6,242
            investment                                                 enterprises.




Latvia      Regional       Innova/98                     -             Private equity fund supporting small and medium- Equity funds      Private     1998       1,714          0       398           0         398
            investment                                                 sized enterprises.




Latvia      Regional       Energy Efficiency and         -             Equity financing for energy efficiency and         Power and       Private     1999      10,650          0     3,000           0       3,000
            investment     Emissions Reduction Fund                    emission-reducing projects.                        energy




Latvia      Direct         Ventspils port                -             Construction and operation of terminal servicing   Transport       Private     1999      13,517       3,600        0           0       3,600
            investment                                                 general cargo traffic from the Baltic Sea.




Latvia      Regional       MBA loan project              -             Financial support for students undertaking MBA     Bank lending    Private     1998          37          8         0           8          15
            investment                                                 degrees at top-tier business schools.




Latvia      Direct         Latvijas Unibanka             -             Extension of private sector lending activities.    Bank lending    Private     1999      30,000      10,000        0           0      10,000
            investment




Latvia      Direct         Pirma Banka (formerly Rigas   -             Restructuring of banking operations.               Bank equity     Private     1999      74,557          0     4,479           0       4,479
            investment     Komercbanka)




Latvia      Regional       Baltic Investment Fund        -             Private equity fund investing in medium-sized      Equity funds    Private     2000      18,530          0     3,400           0       3,400
            investment                                                 companies.




   All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project         Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Latvia      Direct         EU/EBRD SME Finance          Latvijas Unibanka   Financing for small and medium-sized               Bank lending     Private     2000       10,000     10,000        0           0      10,000
            investment     Facility                                         enterprises.




Latvia      Regional       DVI Inc                      -                   Provision of medical equipment for hospitals and Insurance and      Private     2001        1,065       282         0           0         282
            investment                                                      diagnostic centres.                              financial
                                                                                                                             services


Latvia      Regional       EU/EBRD SME Finance          Baltic SME Fund     Private equity fund supporting small and medium- Equity funds       Private     2001        5,528         0       990           0         990
            investment     Facility                                         sized enterprises.




Latvia      Direct         Riga Water Company           -                   Improvement of water supply, installation of       Municipal and    State       2000      137,871     18,093        0           0      18,093
            investment                                                      water meters and upgrade of treatment plants.      environmental
                                                                                                                               infrastructure


Latvia      Direct         Direct Investment Facility   RAF Avia            Construction of new aeroplane maintenance          Transport        Private     2001        2,385         0       713           0         713
            investment                                                      facility, located in Riga International Airport.




Latvia      Regional       Kesko Baltics                -                   Expansion of food retailer’s businesses through    Agribusiness     Private     2001       47,000      5,450        0           0       5,450
            investment                                                      the acquisition and development of retail
                                                                            properties.


Latvia      Direct         BALTA Insurance Group        -                   Equity investment in Latvia’s leading insurance    Insurance and    Private     2001       32,381         0     9,210           0       9,210
            investment                                                      group.                                             financial
                                                                                                                               services


Latvia      Direct         EU/EBRD SME Finance          Latvijas Unibanka   Financing for small and medium-sized               Bank lending     Private     2001       10,000     10,000        0           0      10,000
            investment     Facility                                         enterprises.




Latvia      Regional       Fiesta                       -                   Expansion of food retailer’s businesses through    Agribusiness     Private     2001       12,158      6,890        0           0       6,890
            investment                                                      the acquisition and development of retail
                                                                            properties.


Latvia      Regional       Pleskodale                   -                   Expansion of food retailer’s operations.           Agribusiness     Private     2001        5,781      3,751        0           0       3,751
            investment




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project     Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Latvia      Regional       Danfoss debt facility for    -               Financing for energy efficiency projects in         Manufacturing   Private     2002         327         77         0           0          77
            investment     industrial energy projects                   selected east European breweries.                   and services




Latvia      Regional       Askembla Growth Fund         -               Private equity fund supporting medium-sized         Equity funds    Private     2002      18,180          0     5,000           0       5,000
            investment                                                  enterprises.




Latvia      Direct         EU/EBRD SME Finance          Unilizings      Financing for small and medium-sized                Insurance and   Private     2003      15,000      15,000        0           0      15,000
            investment     Facility                                     enterprises.                                        financial
                                                                                                                            services


Latvia      Regional       EU/EBRD SME Finance          Hansa Capital   Financing for small and medium-sized                Insurance and   Private     2003       9,900       4,950        0           0       4,950
            investment     Facility                                     enterprises.                                        financial
                                                                                                                            services


Latvia      Direct         EU/EBRD SME Finance          Rietumu Banka   Financing for small and medium-sized                Bank lending    Private     2002       2,300       2,300        0           0       2,300
            investment     Facility                                     enterprises.




Latvia      Regional       Heitman Central Europe       -               Investment in property projects, primarily office   Property and    Private     2002       3,235          0     1,050           0       1,050
            investment     Property Partners Fund                       buildings, warehousing/distribution and retail      tourism
                                                                        shopping centres.


Latvia      Regional       Polish Enterprise Fund V     -               Private equity fund investing in enterprises in     Equity funds    Private     2004         930          0       930           0         930
            investment                                                  Latvia.




Latvia      Regional       Europolis II                 -               Development of commercial property projects.        Property and    Private     2004      10,297        974     1,299           0       2,273
            investment                                                                                                      tourism




Latvia      Regional       Argus Capital Partners II    -               Private equity fund supporting medium-sized         Equity funds    Private     2005         200          0       200           0         200
            investment                                                  enterprises. Successor to the Argus Capital
                                                                        Partners fund.


Latvia      Regional       Emerging Europe              -               Direct equity fund investing in central and eastern Equity funds    Private     2005       3,600          0     3,600           0       3,600
            investment     Convergence Fund II                          Europe.




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Latvia      Direct         Rietumu Banka                 -             Syndicated credit line for on-lending to small and Bank lending     Private     2005       60,000     20,000        0           0      20,000
            investment                                                 medium-sized businesses.




Latvia      Regional       SG AM Eastern Europe          -             Investment in consumer services and                Equity funds     Private     2005        5,940         0     3,300           0       3,300
            investment                                                 manufacturing companies.




Latvia      Regional       Royalton Partners II          -             Equity financing for local service providers.      Equity funds     Private     2007        2,500         0     2,500           0       2,500
            investment




Latvia      Regional       Baltcap Private Equity Fund   -             Private equity fund investing primarily in Estonia, Equity funds    Private     2007        6,000         0     6,000           0       6,000
            investment                                                 Latvia, and Lithuania.




Latvia      Regional       E-Energia                     -             Equity investment in E-energija, which provides    Municipal and    Private     2007        1,650         0     1,650           0       1,650
            investment                                                 heat and hot water services to both residential    environmental
                                                                       and industrial customers in Lithuania and Latvia   infrastructure
                                                                       and is considering expanding its operations into
                                                                       Ukraine.
Latvia      Regional       Project Bella                 -             Sub-project under the private equity co-           Telecoms,       Private      2007      243,500         0     5,000           0       5,000
            investment                                                 investment facility.                               informatics and
                                                                                                                          media


Latvia      Regional       Post Privatisation Fund       -             Equity fund supporting financial and operational   Equity funds     Private     1996        9,071         0     9,071           0       9,071
            investment                                                 restructuring of medium-sized enterprises.




Latvia      Regional       IØ Fund                       -             Co-financing for small and medium-sized            Equity funds     Private     1995         746          0       746           0         746
            investment                                                 enterprises.




Latvia      Direct         E-Energia                     -             Equity investment in E-energija, which provides    Municipal and    Private     2007        6,000      6,000        0           0       6,000
            investment                                                 heat and hot water services to both residential    environmental
                                                                       and industrial customers in Lithuania and Latvia   infrastructure
                                                                       and is considering expanding its operations into
                                                                       Ukraine.
Latvia      Regional       EnerCap                       -             Private equity fund dedicated to investing in      Power and        Private     2007       10,000         0     2,500           0       2,500
            investment                                                 renewable energy and energy efficiency projects    energy
                                                                       in central and south-eastern Europe.




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Latvia      Regional       Syntaxis Mezzanine Fund II    -             Equity in a regional fund which aims to             Equity funds    Private     2009      12,500          0     2,500           0       2,500
            investment                                                 strengthen corporate governance and build
                                                                       institutions.


Latvia      Direct         Parex Bank                    -             Equity investment to support restructuring of       Bank equity     Private     2009      81,755          0    81,755           0      81,755
            investment                                                 Parex Bank following nationalisation.




Latvia      Regional       Resource Eastern European     -             Support for institution building and expansion of   Equity funds    Private     2009       4,200          0     1,250           0       1,250
            investment     Equity Partners I                           private equity, business improvement and best
                                                                       ethics and governance.


Latvia      Direct         Parex Bank                    -             The investment is seen to be crucial to          Bank equity        Private     2009      22,000      22,000        0           0      22,000
            investment                                                 increasing confidence in the bank and thereby in
                                                                       the Latvian financial sector overall.


Latvia      Regional       Heitman Eastern European      -             An equity investment into Heitman European          Property and    Private     2009      18,220          0     3,000           0       3,000
            investment     Property Fund                               Property Partners IV, an investment vehicle         tourism
                                                                       pursuing long-term capital appreciation through
                                                                       real estate investments.

Latvia      Regional       Almaz Capital Russia Fund I   -             The Fund will make equity and equity-related   Equity funds         Private     2009       1,345          0       416           0         416
            investment                                                 venture capital investments in companies based
                                                                       in Russia and the CIS.


Latvia      Regional       Bite Group                    Bella         Sub-project under the private equity co-            Telecoms,       Private     2009       4,020          0     1,020           0       1,020
            investment                                                 investment facility.                                informatics and
                                                                                                                           media


Lithuania   Direct         Telecom Development           -             Expansion of international gateway, basic trunk     Telecoms,       Private     1994      42,872      17,338        0           0      17,338
            investment     International                               network and transit switching facilities.           informatics and
                                                                                                                           media


Lithuania   Regional       First NIS Regional Fund       -             Equity fund investing in companies in the New       Equity funds    Private     1994         518          0       310           0         310
            investment                                                 Independent States (NIS).




Lithuania   Regional       Baltic Investment Fund        -             Private equity fund investing in medium-sized       Equity funds    Private     1995       5,378          0     1,627           0       1,627
            investment                                                 companies.




   All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                              (€ 000)
Lithuania   Direct         Lithuanian Development Bank -             Equity investment in bank supporting small and     Bank equity     Private     1994       5,000          0       900           0         900
            investment                                               medium-sized enterprises.




Lithuania   Direct         Paroc Silikatas             -             Purchase and installation of rockwool insulation   Manufacturing   Private     1995      19,516       5,381        0           0       5,381
            investment                                               production line.                                   and services




Lithuania   Direct         Emergency energy sector     -             Repair of energy supply infrastructure, reduction Power and        State       1992      30,946      30,946        0           0      30,946
            investment     reconstruction                            of emissions from power stations and district     energy
                                                                     heating stations and financing for heavy fuel
                                                                     storage tanks.

Lithuania   Direct         Transport project           -             Improvements to rail, road and ports across        Transport       State       1994      32,249      13,108        0           0      13,108
            investment                                               Lithuania.




Lithuania   Direct         Kaunas Water and            -             Improvement of water and waste-water services Municipal and        State       1995      65,798      10,367        0           0      10,367
            investment     environment                               and enhancement of operational and financial  environmental
                                                                     performance.                                  infrastructure


Lithuania   Regional       East European Food Fund     -             Investment fund focusing on food and beverage      Agribusiness    Private     1995       4,067          0       960           0         960
            investment                                               sector.




Lithuania   Direct         Vilniaus Bankas             -             Equity investment in largest private sector bank   Bank equity     Private     1995       2,482          0     2,482           0       2,482
            investment                                               in Lithuania.




Lithuania   Direct         Vilniaus Bankas             -             Financing for small and medium-sized               Bank lending    Private     1995       7,488       6,657        0           0       6,657
            investment                                               enterprises.




Lithuania   Direct         Lithuanian Development Bank -             Equity investment in bank supporting small and     Bank equity     Private     1996       5,800          0       700           0         700
            investment                                               medium-sized enterprises.




Lithuania   Direct         Sampo Bankas                -             Financing for small and medium-sized               Bank lending    Private     1996       7,028       2,264        0           0       2,264
            investment                                               enterprises.




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                   Sub project       Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Lithuania   Direct         Vilniaus Bankas                -                 Financing for small and medium-sized               Bank lending    Private     1995       5,271       5,271        0           0       5,271
            investment                                                      enterprises.




Lithuania   Direct         Via Baltica and Lithuania road -                 Investment in various road projects,               Transport       State       1996      90,889      16,090        0           0      16,090
            investment     project                                          strengthening international road links and
                                                                            reducing delays.


Lithuania   Direct         Regional Trade Facilitation    Vilniaus Bankas   Support for foreign trade.                         Bank lending    Private     1996       5,494          0         0       5,494       5,494
            investment     Programme




Lithuania   Regional       Baltic Small Equity Fund       -                 Investment in small companies which are unable Equity funds        Private     1997       4,006          0     1,919           0       1,919
            investment                                                      to access early-stage equity capital.




Lithuania   Direct         Regional Trade Facilitation    Bankas Hermis     Support for foreign trade.                         Bank lending    Private     1996       2,289          0         0       2,289       2,289
            investment     Programme




Lithuania   Regional       Baring Communications          -                 Private equity fund targeting the media and        Telecoms,       Private     1997       1,656          0       372           0         372
            investment                                                      communications sector.                             informatics and
                                                                                                                               media


Lithuania   Direct         Lietuvos Zemes Ukio Bankas     -                 Financing for enterprises in the agricultural      Bank lending    Private     1998      13,556      11,000        0           0      11,000
            investment                                                      sector.




Lithuania   Direct         Vilniaus Bankas                -                 Financing for small and medium-sized               Bank lending    Private     1998       9,203       9,203        0           0       9,203
            investment                                                      enterprises.




Lithuania   Regional       Innova/98                      -                 Private equity fund supporting small and medium- Equity funds      Private     1998       1,714          0       398           0         398
            investment                                                      sized enterprises.




Lithuania   Regional       Emerging Europe Capital        -                 Direct equity fund investing in central and eastern Equity funds   Private     1999       7,343          0     2,335           0       2,335
            investment     Investors LDC                                    Europe.




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Lithuania   Direct         Vilniaus Bankas                 -             Financing for small and medium-sized                Bank lending     Private     1998       10,226     10,226        0           0      10,226
            investment                                                   enterprises.




Lithuania   Direct         Drobe Wool                      -             Privatisation, restructuring and modernisation of   Manufacturing    Private     1999       13,902      3,591    1,539           0       5,129
            investment                                                   textile manufacturing facilities.                   and services




Lithuania   Direct         Rokiskio Suris                  -             Expansion of cheese production facilities.          Agribusiness     Private     1999        9,736         0     8,661           0       8,661
            investment




Lithuania   Direct         Dalkia Litesko                  -             Equity investment in energy service company.        Municipal and    Private     1998       12,750      2,896    1,448           0       4,344
            investment                                                                                                       environmental
                                                                                                                             infrastructure


Lithuania   Direct         Vilniaus Bankas                 -             Financing for small and medium-sized                Bank lending     Private     1999       75,000     25,000        0           0      25,000
            investment                                                   enterprises.




Lithuania   Direct         Carlsberg multi-project facility Svyturys     Equity investment in second-largest Lithuanian      Agribusiness     Private     1999       35,646         0     9,499           0       9,499
            investment                                                   brewery.




Lithuania   Direct         Lithuania Railways Corridor IX -              Investment in railway infrastructure.               Transport        State       2001      113,947     43,748        0           0      43,748
            investment




Lithuania   Direct         Lietuvos Zemes Ukio Bankas      -             Financing for enterprises in the agricultural       Bank lending     Private     1999       10,403      3,468        0           0       3,468
            investment                                                   sector.




Lithuania   Regional       Baltic Investment Fund          -             Private equity fund investing in medium-sized       Equity funds     Private     2000       17,985         0     3,300           0       3,300
            investment                                                   companies.




Lithuania   Direct         LDB / LZUB share swap           -             Exit from Lithuanian Development Bank and           Bank equity      Private     2000        4,800         0     1,600           0       1,600
            investment                                                   facilitation of privatisation of Lietuvos Zemes
                                                                         Ukio Bankas.




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                Sub project       Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Lithuania   Direct         Lietuvos Telekomas          -                 Privatisation of fixed line telecommunications Telecoms,      Private          2000      129,120         0    51,815           0      51,815
            investment                                                   company and improved access to both local and informatics and
                                                                         international markets.                         media


Lithuania   Regional       DVI Inc                     -                 Provision of medical equipment for hospitals and Insurance and     Private     2001        1,065       282         0           0         282
            investment                                                   diagnostic centres.                              financial
                                                                                                                          services


Lithuania   Regional       EU/EBRD SME Finance         Baltic SME Fund   Private equity fund supporting small and medium- Equity funds      Private     2001        5,695         0     1,020           0       1,020
            investment     Facility                                      sized enterprises.




Lithuania   Regional       TBIH Financial Services     -                 Expansion of insurance and pension operations     Insurance and    Private     2000        1,220       245       490           0         734
            investment                                                   in central and eastern Europe.                    financial
                                                                                                                           services


Lithuania   Direct         Kaunas Water and            -                 Improvement of water and waste-water services Municipal and        State       2001       94,800     19,700        0           0      19,700
            investment     environment                                   and enhancement of operational and financial  environmental
                                                                         performance.                                  infrastructure


Lithuania   Direct         VP market                   -                 Expansion of logistics and food retail network.   Agribusiness     Private     2004       13,684     13,684        0           0      13,684
            investment




Lithuania   Direct         EU/EBRD SME Finance         Siauliu Bankas    Financing for small and medium-sized              Bank lending     Private     2000        5,000      5,000        0           0       5,000
            investment     Facility                                      enterprises.




Lithuania   Direct         Warehouse Receipts          Siauliu Bankas    Short-term lending against warehouse receipts     Bank lending     Private     2001        1,614      1,614        0           0       1,614
            investment     Programme                                     for agribusiness companies, farmers and
                                                                         traders.


Lithuania   Direct         Lietuvos Draudimas          -                 Equity investment in leading insurance company. Insurance and      Private     2001       15,951         0     5,348           0       5,348
            investment                                                                                                   financial
                                                                                                                         services


Lithuania   Direct         City of Vilnius municipal   -                 Upgrade of existing roads and improvements to     Municipal and    State       2003        8,540      7,000        0           0       7,000
            investment     infrastructure project                        pedestrian access.                                environmental
                                                                                                                           infrastructure




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project     Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Lithuania   Regional       Danfoss debt facility for    -               Financing for energy efficiency projects in         Manufacturing    Private     2002         327         77         0           0          77
            investment     industrial energy projects                   selected east European breweries.                   and services




Lithuania   Regional       Askembla Growth Fund         -               Private equity fund supporting medium-sized         Equity funds     Private     2002      21,815          0     6,000           0       6,000
            investment                                                  enterprises.




Lithuania   Regional       EU/EBRD SME Finance          Hansa Capital   Financing for small and medium-sized                Insurance and    Private     2003       9,900       4,950        0           0       4,950
            investment     Facility                                     enterprises.                                        financial
                                                                                                                            services


Lithuania   Regional       Heitman Central Europe       -               Investment in property projects, primarily office   Property and     Private     2002       3,235          0     1,050           0       1,050
            investment     Property Partners Fund                       buildings, warehousing/distribution and retail      tourism
                                                                        shopping centres.


Lithuania   Direct         Kaunas public transport      -               Purchase of 50 new buses and advice on              Municipal and    State       2004      10,000      10,000        0           0      10,000
            investment     project                                      restructuring the sector.                           environmental
                                                                                                                            infrastructure


Lithuania   Regional       Polish Enterprise Fund V     -               Private equity fund investing in enterprises in     Equity funds     Private     2004         930          0       930           0         930
            investment                                                  Lithuania.




Lithuania   Direct         Dalkia Litesko               -               Equity investment in energy service company.        Municipal and    Private     2003       3,674          0     3,674           0       3,674
            investment                                                                                                      environmental
                                                                                                                            infrastructure


Lithuania   Direct         Siauliu Bankas               -               Equity investment in bank providing important  Bank equity           Private     2005      10,980          0    10,980           0      10,980
            investment                                                  services to small and medium-sized businesses.




Lithuania   Regional       Europolis II                 -               Development of commercial property projects.        Property and     Private     2004      10,297        974     1,299           0       2,273
            investment                                                                                                      tourism




Lithuania   Direct         Kaunas Trolleybus            -               Upgrade of trolleybus infrastructure and provision Municipal and     State       2006      17,180      10,000        0           0      10,000
            investment     Modernisation                                of new equipment.                                  environmental
                                                                                                                           infrastructure




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Lithuania   Direct         Siauliu Bankas                  -             Loan enabling Siauliu Bankas to expand its          Bank lending     Private     2005      12,000       5,000        0           0       5,000
            investment                                                   lending activity and implement its business plan.




Lithuania   Regional       Argus Capital Partners II       -             Private equity fund supporting medium-sized         Equity funds     Private     2005         200          0       200           0         200
            investment                                                   enterprises. Successor to the Argus Capital
                                                                         Partners fund.


Lithuania   Regional       Emerging Europe                 -             Direct equity fund investing in central and eastern Equity funds     Private     2005       3,600          0     3,600           0       3,600
            investment     Convergence Fund II                           Europe.




Lithuania   Regional       SG AM Eastern Europe            -             Investment in consumer services and                 Equity funds     Private     2005       5,400          0     3,000           0       3,000
            investment                                                   manufacturing companies.




Lithuania   Regional       Royalton Partners II            -             Equity financing for local service providers.       Equity funds     Private     2007       2,500          0     2,500           0       2,500
            investment




Lithuania   Regional       Baltcap Private Equity Fund     -             Private equity fund investing primarily in Estonia, Equity funds     Private     2007       6,000          0     6,000           0       6,000
            investment                                                   Latvia, and Lithuania.




Lithuania   Regional       Clean Globe International Oil   -             Establishment of crude oil spill response centres Natural            Private     2007      15,009        849         0           0         849
            investment     Spill Protection                              in key locations in the Bank’s countries of       Resources
                                                                         operations and provision of regional training,
                                                                         prevention and remedial services

Lithuania   Direct         Siauliu Bankas                  -             Capital increase to promote continued expansion Bank equity          Private     2006      11,533          0     1,535           0       1,535
            investment                                                   of Siauliu Bankas.




Lithuania   Direct         Siauliu Bankas                  -             Loan to finance on-lending to small and medium- Bank lending         Private     2006      12,000       4,000        0           0       4,000
            investment                                                   sized businesses.




Lithuania   Regional       E-Energia                       -             Equity investment in E-energija, which provides     Municipal and    Private     2007       1,650          0     1,650           0       1,650
            investment                                                   heat and hot water services to both residential     environmental
                                                                         and industrial customers in Lithuania and Latvia    infrastructure
                                                                         and is considering expanding its operations into
                                                                         Ukraine.




   All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                 Sub project               Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Lithuania   Regional       Project Bella                -                         Sub-project under the private equity co-            Telecoms,       Private      2007      243,500         0     5,000           0       5,000
            investment                                                            investment facility.                                informatics and
                                                                                                                                      media


Lithuania   Regional       Clean Globe Oil Spill        -                         Equity investment in oil spill response centres.    Natural          Private     2007        4,080         0       480           0         480
            investment     Investment                                                                                                 Resources




Lithuania   Regional       Post Privatisation Fund      -                         Equity fund supporting financial and operational    Equity funds     Private     1996        6,803         0     6,803           0       6,803
            investment                                                            restructuring of medium-sized enterprises.




Lithuania   Regional       IØ Fund                      -                         Co-financing for small and medium-sized             Equity funds     Private     1995         746          0       746           0         746
            investment                                                            enterprises.




Lithuania   Direct         E-Energia                    -                         Equity investment in E-energija, which provides     Municipal and    Private     2007        1,500      1,500        0           0       1,500
            investment                                                            heat and hot water services to both residential     environmental
                                                                                  and industrial customers in Lithuania and Latvia    infrastructure
                                                                                  and is considering expanding its operations into
                                                                                  Ukraine.
Lithuania   Regional       EnerCap                      -                         Private equity fund dedicated to investing in       Power and        Private     2007       10,000         0     2,500           0       2,500
            investment                                                            renewable energy and energy efficiency projects     energy
                                                                                  in central and south-eastern Europe.


Lithuania   Regional       Syntaxis Mezzanine Fund II   -                         Equity in a regional fund which aims to             Equity funds     Private     2009       12,500         0     2,500           0       2,500
            investment                                                            strengthen corporate governance and build
                                                                                  institutions.


Lithuania   Regional       Resource Eastern European    -                         Support for institution building and expansion of   Equity funds     Private     2009        4,200         0     1,250           0       1,250
            investment     Equity Partners I                                      private equity, business improvement and best
                                                                                  ethics and governance.


Lithuania   Direct         Siauliu Bank                 Convertible senior loan    The loan will encourage SME and municipal          Bank equity      Private     2009       30,000     20,000        0           0      20,000
            investment                                                            lending while the convertible element
                                                                                  incorporated will allow the EBRD to promptly
                                                                                  address the recapitalisation needs if required.

Lithuania   Regional       Heitman Eastern European     -                         An equity investment into Heitman European          Property and     Private     2009       18,220         0     3,000           0       3,000
            investment     Property Fund                                          Property Partners IV, an investment vehicle         tourism
                                                                                  pursuing long-term capital appreciation through
                                                                                  real estate investments.




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

   All investments 1991- 2009



Country     Type of        Project name                      Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Lithuania   Regional       Almaz Capital Russia Fund I       -             The Fund will make equity and equity-related   Equity funds         Private     2009       1,345          0       416           0         416
            investment                                                     venture capital investments in companies based
                                                                           in Russia and the CIS.


Lithuania   Regional       Bite Group                        Bella         Sub-project under the private equity co-           Telecoms,       Private      2009       6,030          0     1,530           0       1,530
            investment                                                     investment facility.                               informatics and
                                                                                                                              media


Moldova     Regional       First NIS Regional Fund           -             Equity fund investing in companies in the New      Equity funds     Private     1994         518          0       310           0         310
            investment                                                     Independent States (NIS).




Moldova     Direct         Wine export promotion             -             Construction and operation of wine and           Agribusiness       State       1994      44,502      21,933        0           0      21,933
            investment                                                     champagne bottle production facility and upgrade
                                                                           of bottling equipment.


Moldova     Direct         Eurovision                        -             Design, supply and installation of earth station   Telecoms,       State        1992         694        694         0           0         694
            investment                                                     linked to the Eurovision Network via satellite.    informatics and
                                                                                                                              media


Moldova     Direct         Energy efficiency project         -             Upgrade of district heating system in Chisinau.    Municipal and    State       1995      17,747       7,089        0           0       7,089
            investment                                                                                                        environmental
                                                                                                                              infrastructure


Moldova     Direct         Victoria Bank                     -             Credit line to assist small and medium-sized       Bank equity      Private     1995       2,980       1,987      993           0       2,980
            investment                                                     enterprises.




Moldova     Direct         Port of Giurgiulesti oil terminal -             Construction of port facilities for oil imports.   Transport        Private     1996      18,832       5,435    2,717           0       8,152
            investment




Moldova     Direct         Road rehabilitation project       -             Upgrade of priority sections of the main road      Transport        State       1995      11,084       7,975        0           0       7,975
            investment                                                     network in Moldova.




Moldova     Direct         Moldova-Agroindbank               -             Financing for small and medium-sized               Bank lending     Private     1995      14,049      14,049        0           0      14,049
            investment                                                     enterprises.




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project           Description                                     Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Moldova    Direct         Chisinau water services      -                     Improvement of water supply and reduction of    Municipal and    State       1997      27,157      14,579        0           0      14,579
           investment                                                        pollution to the Byk and Dniester rivers.       environmental
                                                                                                                             infrastructure


Moldova    Direct         Chisinau Airport             -                     Refurbishment of passenger terminal.            Transport        State       1998       8,214       6,133        0           0       6,133
           investment




Moldova    Direct         Micro lending project        Mobias Bank           Financing for micro and small enterprises.      Small business Private       1996         902        472         0           0         472
           investment                                                                                                        finance




Moldova    Direct         Micro lending project        Victoria Bank         Financing for micro and small enterprises.      Small business Private       1996       1,248        472         0           0         472
           investment                                                                                                        finance




Moldova    Direct         Micro lending project        Moldova-Agroindbank   Financing for micro and small enterprises.      Small business Private       1996       1,699        872         0           0         872
           investment                                                                                                        finance




Moldova    Direct         Micro lending project        Universal Bank        Financing for micro and small enterprises.      Small business Private       1997       1,404        472         0           0         472
           investment                                                                                                        finance




Moldova    Direct         Moldova-Agroindbank          -                     Financing for small and medium-sized            Bank equity      Private     1998       7,323       4,882    2,441           0       7,323
           investment                                                        enterprises.




Moldova    Direct         Victoria Bank                -                     Equity investment in one of Moldova’s largest   Bank equity      Private     1997       1,468          0       220           0         220
           investment                                                        private commercial banks.




Moldova    Direct         Moldova power distribution   -                     Privatisation of three power distribution       Power and        Private     2000       5,872          0     5,872           0       5,872
           investment                                                        companies.                                      energy




Moldova    Direct         Victoria Bank                -                     Equity investment in one of Moldova’s largest   Bank equity      Private     1999       1,155          0       185           0         185
           investment                                                        private commercial banks.




  All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project    Description                                       Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                              (€ 000)
Moldova    Direct         Regional Trade Facilitation   Agroindbank    Support for foreign trade.                        Bank lending   Private     1999         107          0         0         107         107
           investment     Programme




Moldova    Direct         ProCredit Bank Moldova        -              Financing for micro and small enterprises.        Small business Private     2000       6,643        366       366           0         733
           investment                                                                                                    finance




Moldova    Direct         Post-privatisation power      -              Financing for three power distribution companies Power and       Private     2000      27,741      13,871        0           0      13,871
           investment     distribution loan                            located in Chisinau and the central and southern energy
                                                                       regions of Moldova.


Moldova    Direct         Glass Container Company       -              Improvement of wine production, quality and       Agribusiness   Private     2000      12,094       3,453    2,302           0       5,755
           investment                                                  packaging.




Moldova    Direct         Victoria Bank                 -              Credit line to assist small and medium-sized      Bank lending   Private     2001       5,548       1,387        0       1,387       2,774
           investment                                                  enterprises.




Moldova    Direct         Moldova-Agroindbank           -              Financing for small and medium-sized              Bank lending   Private     2002       4,161       4,161        0           0       4,161
           investment                                                  enterprises.




Moldova    Direct         Regional Trade Facilitation   Mobias Banca   Support for foreign trade.                        Bank lending   Private     2002         446        223         0         223         446
           investment     Programme




Moldova    Direct         Moldindconbank credit line    -              Credit line for on-lending to small and medium-   Bank lending   Private     2004       1,006       1,006        0           0       1,006
           investment                                                  sized businesses.




Moldova    Direct         Victoria Bank                 -              Credit line to assist small and medium-sized      Bank lending   Private     2003       2,774       2,774        0           0       2,774
           investment                                                  enterprises.




Moldova    Direct         Warehouse Receipts            WJ Group       Short-term lending against warehouse receipts     Agribusiness   Private     2003       8,461       4,231        0           0       4,231
           investment     Programme                                    for agribusiness companies, farmers and
                                                                       traders.




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project            Description                                        Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Moldova    Regional       Furshet                       -                      Loan to help Furshet Group open new stores         Agribusiness   Private     2007       2,135       1,423        0           0       1,423
           investment                                                          across Ukraine and expand its operations in
                                                                               Moldova.


Moldova    Direct         SME Credit Line               Mobias Banca           Credit line to Mobias Bank for on-lending to small Bank lending   Private     2004       1,387       1,387        0           0       1,387
           investment                                                          and medium-sized businesses.




Moldova    Direct         ProCredit Moldova             -                      Financing for micro and small enterprises.         Small business Private     2005       1,387       1,387        0           0       1,387
           investment                                                                                                             finance




Moldova    Direct         Medium-sized Loan Co-         Trans Oil Moldova      Credit line for on-lending to medium-sized         Agribusiness   Private     2004       1,387        694         0           0         694
           investment     financing Facility                                   enterprises, including Trans Oil Moldova.




Moldova    Direct         Medium-sized Loan Co-         -                      Credit line for on-lending to medium-sized         Bank lending   Private     2004       1,200       1,200        0           0       1,200
           investment     financing Facility                                   enterprises, through Victoria Bank.




Moldova    Direct         Regional Trade Facilitation   Banca Sociala          Support for foreign trade.                         Bank lending   Private     2005         347          0         0         347         347
           investment     Programme




Moldova    Direct         Banca Sociala                 -                      Credit line for on-lending to small and medium-    Bank lending   Private     2005       5,000       5,000        0           0       5,000
           investment                                                          sized businesses.




Moldova    Direct         Medium-sized Loan Co-         Mobiasbanca            Credit line                                        Bank lending   Private     2005       2,065       2,065        0           0       2,065
           investment     financing Facility




Moldova    Direct         Medium-sized Loan Co-         Orhei Vit              Sub-loan to frozen fruit and vegetable producer,   Agribusiness   Private     2004       1,694       1,000        0           0       1,000
           investment     financing Facility                                   through Victoria Bank.




Moldova    Direct         Medium-sized Loan Co-         Victoria Bank Protos   Loan for manufacturer of steel pipes co-financed Manufacturing    Private     2005         694        347         0           0         347
           investment     financing Facility                                   with Victoria Bank.                              and services




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                      Sub project                Description                                      Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Moldova    Direct         Glass Container Company           -                          Medium-term loan to facilitate balance sheet     Agribusiness   Private     2005       5,712       2,092        0           0       2,092
           investment                                                                  restructuring.




Moldova    Direct         Port of Giurgiulesti oil terminal -                          Recovery of debt                                 Transport      Private     2005       5,223       2,611    2,611           0       5,223
           investment




Moldova    Direct         Medium-sized Loan Co-             Bucuria                    Sub-loan to a local confectionery producer,      Agribusiness   Private     2005       2,200        700         0           0         700
           investment     financing Facility                                           through Victoria Bank.




Moldova    Direct         ETC Non-Bank MFI                  Rural Finance Corporation Financing for micro and small enterprises.        Small business Private     2005         694        520         0           0         520
           investment     Framework                                                                                                     finance




Moldova    Direct         ETC Non-bank MFI                  Microinvest                Credit line for on-lending to micro and small    Small business Private     2007         694        694         0           0         694
           investment     Framework II                                                 businesses.                                      finance




Moldova    Direct         Moldova Microlending              Mobiasbanca                Credit lines for on-lending to micro and small   Small business Private     2006       2,100       2,100        0           0       2,100
           investment     Framework                                                    businesses.                                      finance




Moldova    Direct         Moldova Microlending              Banca Sociala              Credit lines for on-lending to micro and small   Small business Private     2006       3,000       3,000        0           0       3,000
           investment     Framework                                                    businesses.                                      finance




Moldova    Regional       European Fund for Southeast       -                          Privately managed public/private investment fund Small business Private     2006       2,000          0     2,000           0       2,000
           investment     Europe                                                       which will provide financing for micro, small and finance
                                                                                       medium-sized businesses as well as housing
                                                                                       and rural finance in south-eastern Europe.

Moldova    Direct         Medium-sized Loan Co-             Mobiasbanca Basarabia      Sub-loan to a local wine producer through        Agribusiness   Private     2006         485        485         0           0         485
           investment     Financing Facility                Sub-Loan                   Mobiasbanca.




Moldova    Regional       Bluehouse equity fund             -                          Equity investment in Bluehouse Accession        Property and    Private     2006       7,627          0     1,250           0       1,250
           investment                                                                  Property, a fund acquiring, developing,         tourism
                                                                                       renovating, owning and managing property in
                                                                                       Bulgaria, Croatia, Moldova, Romania, Serbia and
                                                                                       Ukraine.




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project               Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Moldova    Regional       BSR Europe Co-Investment     -                         Equity investment in a company developing              Property and   Private     2006       5,000          0     1,750           0       1,750
           investment     Facility                                               office, retail, residential and industrial real estate tourism
                                                                                 in Moldova.


Moldova    Direct         Medium-sized Loan Co-        Mobiasbanca Sun         Sub-loan to an internet provider through               Telecoms,       Private      2006         173        173         0           0         173
           investment     Financing Facility           Communications Sub-Loan Mobiasbanca.                                           informatics and
                                                                                                                                      media


Moldova    Regional       Balkan Accession Fund        -                         Finance provided to a private equity fund            Equity funds     Private     2006       5,245          0     1,120           0       1,120
           investment                                                            investing in medium-sized businesses.




Moldova    Direct         Mobiasbanca Credit Line II   -                         Credit line for on-lending to small and medium-      Bank lending     Private     2006       4,210       2,105        0           0       2,105
           investment                                                            sized businesses.




Moldova    Direct         Direct Lending Facility      Orhei Vit Cannery         Finance provided for fruit and vegetable             Agribusiness     Private     2006       4,000       4,000        0           0       4,000
           investment                                                            production at Orhei Vit cannery.




Moldova    Direct         SUN Communications-Debt      -                         Loan for expansion and modernisation of              Telecoms,       Private      2007       3,857       4,134        0           0       4,134
           investment                                                            telecommunications company.                          informatics and
                                                                                                                                      media


Moldova    Direct         Mobiasbanca                  -                         Investment to facilitate development of banking      Bank equity      Private     2008      10,506          0     3,433           0       3,433
           investment                                                            operations.




Moldova    Direct         Moldova road upgrading       -                         Loan to finance improvements to the road             Transport        State       2008      65,000      17,500        0           0      17,500
           investment                                                            network and institutional strengthening.




Moldova    Direct         Medium-sized Loan Co-        Mobiasbanca               Extension on previous investment to improve          Insurance and    Private     2008       1,372       1,372        0           0       1,372
           investment     financing Facility                                     access to finance local private enterprises.         financial
                                                                                                                                      services


Moldova    Direct         SUN Communications-Equity    -                         Equity investment in Sun Communications to           Telecoms,       Private      2007       1,945          0     1,945           0       1,945
           investment                                                            support expansion.                                   informatics and
                                                                                                                                      media




  All investments 1991- 2009
                                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                   Sub project                Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                (€ 000)
Moldova    Direct         Chisinau Airport Modernisation -                          Loan for airport modernisation.                      Transport        Private     2008      45,500      25,500        0           0      25,500
           investment     II




Moldova    Direct         Banca Sociala                  -                          Second credit line for on-lending to SMEs.           Bank lending     Private     2007       5,070       5,070        0           0       5,070
           investment




Moldova    Direct         Chisinau Shopping Mall         -                          Finance for the building and development of a        Property and     Private     2008      59,800      21,400        0           0      21,400
           investment                                                               retail and entertainment complex.                    tourism




Moldova    Direct         Direct Lending Facility        Iucan Comert office centre Office centre development to create an ICT           Property and     Private     2009       2,300       2,300        0           0       2,300
           investment                                    and Endava ICT Incubator incubator and science park.                            tourism




Moldova    Direct         Eximbank                       -                          Moldova Financial Sector Framework - Finance         Bank lending     Private     2008      13,870      13,870        0           0      13,870
           investment                                                               for on-lending to small and medium-sized
                                                                                    enterprises.


Moldova    Direct         Moldindconbank                 -                          Credit line for on-lending to small and medium-      Bank lending     Private     2009      15,000       5,000        0           0       5,000
           investment                                                               sized enterprises.




Moldova    Regional       Aqualia Investment Venture     -                          Equity in a new company that invests in water        Municipal and    Private     2009       8,163          0     4,000           0       4,000
           investment                                                               concessions and acquires other privately held        environmental
                                                                                    water groups.                                        infrastructure


Moldova    Direct         ETC Non-bank Microfinance      MicroInvest II             Credit line to a non-bank microfinance institution   Small business Private       2009       3,468       1,040        0           0       1,040
           investment     Institution Framework III                                 for on-lending to entrepreneurs and small            finance
                                                                                    businesses.


Moldova    Direct         Moldova Microlending           ProCredit Bank             Credit line to ProCredit Bank for on-lending to      Small business Private       2009       6,935       1,734        0           0       1,734
           investment     Programme                                                 small business.                                      finance




Moldova    Direct         Medium-sized Loan Co-          Banca Sociala              Extension on previous investment to improve          Bank lending     Private     2008       1,500       1,500        0           0       1,500
           investment     financing Facility                                        access to finance local private enterprises.




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project                Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Moldova     Direct         Efes Vitanta Brewery          -                          Senior loan for modernisation and expansion.      Agribusiness    Private     2008       12,484     12,484        0           0      12,484
            investment




Moldova     Direct         Mobiasbanca                   -                          Loan for on-lending to small and medium-sized     Bank lending    Private     2008       20,000      5,000        0           0       5,000
            investment                                                              enterprises and larger companies.




Moldova     Regional       European Fund for SouthEast -                            Support to financial institutions for on-lending to Small business Private    2009       11,550         0     1,650           0       1,650
            investment     Europe II                                                MSMEs, as well as for housing and rural finance. finance




Moldova     Direct         Direct Lending Facility       Centrul de Diagnostic      An investment in a new modern diagnostic          Manufacturing   Private     2009        2,000      2,000        0           0       2,000
            investment                                   German                     imaging centre in the capital, Chisinau.          and services




Moldova     Direct         Moldova Agroindbank           -                          Credit line for on-lending to small and medium-   Bank lending    Private     2009       20,000     10,000        0           0      10,000
            investment                                                              sized enterprises.




Moldova     Direct         Direct Lending Facility       Trans Oil                  Supporting the development of agricultural         Agribusiness   Private     2009       16,645      8,322        0           0       8,322
            investment                                                              infrastructure in Moldova with a loan to Trans Oil
                                                                                    Group, the largest grain trading company in
                                                                                    Moldova.

Moldova     Direct         Mid-Sized Corporate Support   Electricity Distribution   Upgrade and expansion of Union Fenosa             Power and       Private     2009       27,741     10,403        0           0      10,403
            investment     Facility                      Upgrade                    Moldova's distribution network.                   energy




Moldova     Direct         Direct Lending Facility       WJ Moldova                 Long-term loan to seed oil crushing company.      Agribusiness    Private     2009       10,330     10,330        0           0      10,330
            investment




Mongolia    Direct         Kumtor Gold Company           -                          Expansion of gold mining facilities.              Natural         Private     1995      129,733      4,297    4,297           0       8,594
            investment                                                                                                                Resources




Mongolia    Regional       Centerra Gold (formerly       -                          Equity investment in gold producer.               Natural         Private     2004        4,359         0     4,359           0       4,359
            investment     Kumtor Gold Company)                                                                                       Resources




   All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project              Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                              (€ 000)
Mongolia    Direct          Xac Bank                      -                        Credit line to promote on-lending to micro and       Small business Private      2006       3,468       3,468        0           0       3,468
            investment                                                             small businesses.                                    finance




Mongolia    Direct         Direct Lending Facility        Ezio Foradori Cashmere   Loan to a locally-owned niche cashmere               Manufacturing   Private     2009         555        555         0           0         555
            investment                                                             production company in Ulaanbaatar to enhance         and services
                                                                                   competitiveness in the sector.


Mongolia    Direct         Mongolian Gold MAK             -                        Expansion of Eldev coal mine.                        Natural         Private     2007      31,209      20,806        0           0      20,806
            investment                                                                                                                  Resources




Mongolia    Direct         Mongolian Financial Sector     Khan Bank                Credit line for on-lending to micro, small and       Small business Private      2007       6,935       6,935        0           0       6,935
            investment     Framework                                               medium-sized businesses.                             finance




Mongolia    Direct         Zoos Bank                      -                        Mongolian Financial Sector Framework - Loan          Small business Private      2008       2,774       2,774        0           0       2,774
            investment                                                             and trade finance facility in support of small and   finance
                                                                                   medium-sized enterprises.


Mongolia    Direct         Minii Delgur                   -                        Development of leading retailer in Ulaanbaatar       Agribusiness    Private     2007       5,704          0     5,704           0       5,704
            investment                                                             through expansion of shop network.




Mongolia    Regional       Imperial Mining                -                        Exploration and development of base metal and        Natural         Private     2008      22,785          0     7,527           0       7,527
            investment                                                             precious metal licences.                             Resources




Mongolia    Direct         Direct Investment Facility     Australian Independent   Financing the purchase of two new drilling rigs.     Natural         Private     2007       4,073          0     4,073           0       4,073
            investment                                    Diamond Drilling                                                              Resources




Mongolia    Direct         Direct Investment Facility     Vitafit                  Financing for a new production line for a juice      Agribusiness    Private     2007       3,581       3,581        0           0       3,581
            investment                                                             producer.




Mongolia    Direct         Magnai Trade Petrol Stations   -                        Investment for expansion of a medium-sized           Natural         Private     2008      24,274      13,871        0           0      13,871
            investment                                                             domestic petrol retailer.                            Resources




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project           Description                                          Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Mongolia    Direct         Mongolian Financial Sector     XAC-GE                Equity investment to encourage lending to small      Small business Private      2007       2,212          0     2,212           0       2,212
            investment     Framework                                            and medium-sized enterprises.                        finance




Mongolia    Direct         Zoos Bank                      -                     Mongolian Financial Sector Framework - Loan          Bank equity     Private     2008       5,157          0     5,157           0       5,157
            investment                                                          and trade finance facility in support of small and
                                                                                medium-sized enterprises.


Mongolia    Direct         Direct Lending Facility        Geosan                Loan to Mongolian geological services firm.          Manufacturing   Private     2008       1,942       1,942        0           0       1,942
            investment                                                                                                               and services




Mongolia    Direct         MCS Beverages                  -                     Loan to help expand production and improve its       Agribusiness    Private     2008      14,079       4,855        0           0       4,855
            investment                                                          wastewater treatment and recycling processes.




Mongolia    Direct         Direct Investment Facility     Petro Matad           Equity investment in Petro Matad for the             Natural         Private     2009       4,161          0     4,161           0       4,161
            investment                                                          development of oil exploration in Mongolia.          Resources




Mongolia    Direct         Direct Lending Facility        MSM                   Loans facility for medium to large-sized local       Manufacturing   Private     2008       4,161       4,161        0           0       4,161
            investment                                                          private companies in the Early Transition            and services
                                                                                Countries.


Mongolia    Direct         Direct Lending Facility        Gobi                  Loan to cashmere producer Ezio Foradori to           Manufacturing   Private     2009       2,427       2,427        0           0       2,427
            investment                                                          expand production and modernise its                  and services
                                                                                manufacturing plant.


Mongolia    Direct         Energy Resources coal mining -                       Equity investment to enable the setting up of a      Natural         Private     2009      50,683          0    14,287           0      14,287
            investment                                                          coal mining operation at the Ukhaa Hudag             Resources
                                                                                deposit in southern Mongolia.


Mongolia    Direct         Magnai Trade Petrol Stations   Magnai Trade          To develop a medium-sized domestic petrol            Natural         Private     2008      13,918          0     3,516           0       3,516
            investment                                                          retailer, funding the construction of new depot      Resources
                                                                                stores and filling stations.


Mongolia    Direct         Magnai Trade Petrol Stations   Magnai Trade Market   To develop a medium-sized domestic petrol            Natural         Private     2008       3,125          0     3,125           0       3,125
            investment                                                          retailer, funding the construction of new depot      Resources
                                                                                stores and filling stations.




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                   Sub project              Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Mongolia    Direct         Magnai Trade Petrol Stations   Magnai Trade Petroleum   To develop a medium-sized domestic petrol           Natural         Private     2008       3,125          0     3,125           0       3,125
            investment                                                             retailer, funding the construction of new depot     Resources
                                                                                   stores and filling stations.


Mongolia    Direct         Salkhit Windfarm               -                        Support for the development phase of a       Power and              Private     2009       2,774          0       485           0         485
            investment                                                             proposed 50MW windfarm to be constructed and energy
                                                                                   operated 70km from Ulaanbaatar.


Montenegro Direct          Euromarket Banka               -                        Financing for small and medium-sized                Bank lending    Private     2002       3,000       3,000        0           0       3,000
           investment                                                              enterprises.




Montenegro Direct          Direct Investment Facility     Progas                   Production, marketing and distribution of           Manufacturing   Private     2002       1,120          0       408           0         408
           investment                                                              technical gases.                                    and services




Montenegro Direct          Euromarket Banka               -                        Equity investment to foster institutional           Bank equity     Private     2002       5,004       1,994    1,329           0       3,324
           investment                                                              development.




Montenegro Regional        Air traffic management         -                        Modernisation of the Belgrade and Podgorica air Transport           State       2005       8,952       2,680        0           0       2,680
           investment      modernisation and upgrade                               traffic control centres and corresponding
                                                                                   infrastructure.


Montenegro Direct          Kombinat Aluminium             -                        Loan facilitating the privatisation of integrated   Manufacturing   State       2003       1,945       1,945        0           0       1,945
           investment      Podgorica                                               aluminium producer.                                 and services




Montenegro Direct          Montenegro Airports            -                        Modernisation of two Montenegro airports.           Transport       State       2003      29,000      11,000        0           0      11,000
           investment




Montenegro Direct          US/EBRD SME Finance            Opportunity Bank         Credit line for on-lending to micro, small and      Small business Private      2003       3,000       2,700        0           0       2,700
           investment      Facility                                                medium-sized businesses.                            finance




Montenegro Direct          US/EBRD SME Finance            Alter Modus              Credit line for on-lending to micro, small and      Small business Private      2004       1,000        900         0           0         900
           investment      Facility                                                medium-sized businesses.                            finance




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                     Sub project         Description                                       Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Montenegro Direct          Montenegro Regional Road         -                   Improvements to infrastructure and safety of      Transport       State       2005      14,821      10,941        0           0      10,941
           investment      Rehabilitation Project                               Montenegrin roads.




Montenegro Direct          US/EBRD SME Finance              Alter Modus         Financing for micro and small enterprises.        Small business Private      2005       2,000       1,800        0           0       1,800
           investment      Facility                                                                                               finance




Montenegro Direct          Montenegro regional water        -                   Construction of a regional water supply network. Municipal and    State       2007      52,463      18,000        0           0      18,000
           investment      supply                                                                                                environmental
                                                                                                                                 infrastructure


Montenegro Regional        Europolis III                    -                   Equity investment allowing the creation of a      Property and    Private     2006       7,425        630       945           0       1,575
           investment                                                           regional portfolio of property assets in Bosnia   tourism
                                                                                and Herzegovina, Bulgaria, FYR Macedonia,
                                                                                Montenegro, Romania, Russia, Serbia and
                                                                                Ukraine.
Montenegro Direct          Montenegro rail infrastructure   -                   Support for the upgrading of railways             Transport       State       2007      30,000      15,000        0           0      15,000
           investment                                                           infrastructure.




Montenegro Direct          Western Balkans MSME             Alter Modus III     Further loan to Alter Modus for on-lending to     Small business Private      2007       1,500       1,500        0           0       1,500
           investment      Framework                                            micro, small and medium-sized enterprises.        finance




Montenegro Regional        ViaOne                           -                   Equity investment to support the commercial       Telecoms,       Private     2008         847          0       500           0         500
           investment                                                           launch and development of ViaOne Europa           informatics and
                                                                                Holding's software platforms.                     media


Montenegro Direct          Western Balkans Local            MPM                 Loan to support MPM's cosmetic wholesale and      Manufacturing   Private     2009       1,500       1,500        0           0       1,500
           investment      Enterprise Facility                                  retail business.                                  and services




Montenegro Direct          Western Balkans Local            Franca Mesopromet   Support for meat producer.                        Agribusiness    Private     2008       5,000       5,000        0           0       5,000
           investment      Enterprise Facility




Montenegro Regional        European Fund for SouthEast -                        Support to financial institutions for on-lending to Small business Private    2009      12,600          0     1,800           0       1,800
           investment      Europe II                                            MSMEs, as well as for housing and rural finance. finance




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                      Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Montenegro Direct          Montenegro Rail Infrastructure -                A loan for completion of a priority track upgrading Transport      State       2009       17,900     15,000        0           0      15,000
           investment      II                                              programme on the Montenegrin rail network.




Montenegro Direct          Local Enterprise Facility         Voli Trade    A loan to Voli Trade, owner of Voli, a grocery     Agribusiness    Private     2009        4,233      3,079        0           0       3,079
           investment                                                      retailer in Montenegro operating 12 stores
                                                                           around the country.


Montenegro Regional        Southeast Europe Energy           -             Financing for energy efficiency projects through   Insurance and   Private     2009        4,744         0     1,250           0       1,250
           investment      Efficiency Fund (SE4F)                          local financial institutions.                      financial
                                                                                                                              services


Poland      Regional       Renaissance Fund                  -             Venture capital fund supporting private            Equity funds    Private     1993       14,441         0     4,323           0       4,323
            investment                                                     companies.




Poland      Direct         American Bank (Poland)            -             Financing for private companies.                   Bank lending    Private     1993        3,468      3,468        0           0       3,468
            investment




Poland      Direct         Winterthur multi-project facility -             Equity investment in composite insurer.            Insurance and   Private     1994      111,228         0    55,213           0      55,213
            investment                                                                                                        financial
                                                                                                                              services


Poland      Direct         Heros                             -             Equity investment in Polish life insurer.          Insurance and   Private     1995        2,680         0     1,401           0       1,401
            investment                                                                                                        financial
                                                                                                                              services


Poland      Direct         Netia                             -             Construction and operation of direct               Telecoms,       Private     1996      210,992     15,827    7,914           0      23,741
            investment                                                     telecommunication lines, installed in licensed     informatics and
                                                                           regions throughout Poland.                         media


Poland      Direct         Polska Telefonica Komorkowa -                   Construction of cellular network and purchase of Telecoms,       Private       1992      108,191     16,645        0           0      16,645
            investment                                                     equipment.                                       informatics and
                                                                                                                            media


Poland      Direct         Motorway development              -             Upgrade of major roads within Poland and           Transport       State       1993       82,594     44,994        0           0      44,994
            investment                                                     introduction of tolls.




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project   Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Poland      Direct         Huta Warszawa-Lucchini       -             Restructuring of steel plant and installation of    Manufacturing   Private     1993      227,195     15,000        0           0      15,000
            investment                                                modern and environmentally sound equipment.         and services




Poland      Direct         Polish Development Bank      -             Financing for small and medium-sized                Bank lending    Private     1994        4,274      4,274        0           0       4,274
            investment                                                enterprises.




Poland      Direct         Poland housing               -             Construction of residential projects.               Property and    Private     1992       42,742      1,130        0           0       1,130
            investment                                                                                                    tourism




Poland      Direct         Poland Private Equity Fund   -             Financing for small and medium-sized                Equity funds    Private     1992       61,852         0    41,881           0      41,881
            investment                                                enterprises.




Poland      Direct         Pilkington Sandoglass        -             Privatisation of Poland's largest sheet glass       Manufacturing   Private     1993      182,751     25,396    8,465           0      33,861
            investment                                                manufacturer and construction of float glass        and services
                                                                      plant.


Poland      Direct         Polspan                      -             Modernisation and expansion of production at        Manufacturing   Private     1993       42,335     10,226        0           0      10,226
            investment                                                chipboard manufacturing facility.                   and services




Poland      Direct         Fiat/ FSM                    -             Acquisition of majority stake in Polish car         Manufacturing   Private     1994       93,569     62,093        0           0      62,093
            investment                                                manufacturer FSM by Fiat.                           and services




Poland      Direct         Metalplast                   -             Upgrade of manufacturing capacity, increase of      Manufacturing   Private     1995       23,492         0     6,223           0       6,223
            investment                                                production and expansion into construction          and services
                                                                      material markets.


Poland      Direct         WBK Poznan                   -             Financing for small and medium-sized                Bank lending    State       1991       28,817      1,076        0           0       1,076
            investment                                                enterprises.




Poland      Direct         Industriebeteiligungs GmbH   Janofrost     Construction, fit-out and operation of three food   Agribusiness    Private     1992       10,328      1,790        0           0       1,790
            investment     (IBG)                                      processing and cold storage facilities.




   All investments 1991- 2009
                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                              (€ 000)
Poland      Direct         Kwidzyn                       -             Modernisation of pulp and paper mill.            Manufacturing   Private     1994      202,413     13,433        0           0      13,433
            investment                                                                                                  and services




Poland      Direct         Huta Szkla Jaroslaw           -             Modernisation of glass container manufacturing   Manufacturing   Private     1993       30,013      3,541        0           0       3,541
            investment                                                 plant.                                           and services




Poland      Direct         Atrium                        -             Construction of business centre and hotel.       Property and    Private     1994       31,035      3,641        0           0       3,641
            investment                                                                                                  tourism




Poland      Direct         Warsaw distribution centre    -             Construction of industrial park.                 Property and    Private     1995       17,054      3,641        0           0       3,641
            investment                                                                                                  tourism




Poland      Direct         Bielsko-Biala power station   -             Completion of boiler plant.                      Power and       Private     1994      104,615     29,621        0           0      29,621
            investment                                                                                                  energy




Poland      Direct         Caresbac Polska               -             Equity investment in small business investment   Equity funds    Private     1993       10,807         0     4,149           0       4,149
            investment                                                 company, focusing on the agribusiness sector.




Poland      Direct         KZP - Poland (Trebruk)        -             Restructuring of pulp and paper mill.            Manufacturing   Private     1993       97,800     13,511        0           0      13,511
            investment                                                                                                  and services




Poland      Direct         ABB Dolmel Ltd                -             Expansion of air and water-cooled turbo-         Manufacturing   Private     1992       12,678      4,355        0           0       4,355
            investment                                                 generator production facility.                   and services




Poland      Direct         Lodom                         -             Construction of cold storage facility.           Agribusiness    Private     1993        8,041      2,007        0           0       2,007
            investment




Poland      Direct         Kronospan Szczecinek          -             Expansion and modernisation of chipboard         Manufacturing   Private     1994       53,778     15,339        0           0      15,339
            investment                                                 manufacturer.                                    and services




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project    Description                                         Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Poland      Direct         Agora Gazeta (RZB CEAL)       -              Acquisition of printing plant.                      Manufacturing   Private     1993       8,215       2,774        0           0       2,774
            investment                                                                                                      and services




Poland      Direct         Ringnes/Pubrex (BCCB)         -              Operation of soft drink production plant and        Agribusiness    Private     1992      17,650       5,624        0           0       5,624
            investment                                                  establishment of retail distribution network.




Poland      Direct         Rockwool Polska               -              Modernisation of four mineral wool production       Manufacturing   Private     1993      18,025       5,601        0           0       5,601
            investment                                                  lines.                                              and services




Poland      Regional       New Europe East Investment    -              Equity fund supporting private companies and        Equity funds    Private     1993      24,957          0     6,114           0       6,114
            investment     Fund                                         joint ventures.




Poland      Direct         Wielkopolski Bank Kredytowy   -              Privatisation of commercial bank.                   Bank equity     Private     1993      10,414          0    10,414           0      10,414
            investment




Poland      Regional       Dun and Bradstreet            -              Development of business information services in Insurance and       Private     1993         353          0       353           0         353
            investment                                                  central and eastern Europe.                     financial
                                                                                                                        services


Poland      Direct         Farm Frites Poland            -              Construction of potato processing plant and         Agribusiness    Private     1994      19,053       7,288        0           0       7,288
            investment                                                  storage facilities.




Poland      Direct         Industriebeteiligungs GmbH    Krespol        Construction, fit-out and operation of three food   Agribusiness    Private     1992       1,841       1,841        0           0       1,841
            investment     (IBG)                                        processing and cold storage facilities.




Poland      Direct         Industriebeteiligungs GmbH    Kujawy-Frost   Construction, fit-out and operation of three food   Agribusiness    Private     1992       1,841       1,841        0           0       1,841
            investment     (IBG)                                        processing and cold storage facilities.




Poland      Direct         Fabryka Papieru Malta Decor   -              Expansion of decorative paper production.           Manufacturing   Private     1993       9,612       4,090        0           0       4,090
            investment                                                                                                      and services




   All investments 1991- 2009
                                                                                                                                                                    fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector         Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                               (€ 000)
Poland      Direct         Schooner                      -             Equity investment in industrial holding company.   Equity funds   Private     1994       33,818         0    12,761           0      12,761
            investment




Poland      Direct         Railway modernisation project -             Upgrade of the Warsaw-Kunowice railway line.       Transport      State       1996      486,082     49,082        0           0      49,082
            investment




Poland      Regional       Advent Private Equity Fund    -             Private equity fund supporting small and medium- Equity funds     Private     1994       16,691         0     3,376           0       3,376
            investment     Central Europe                              sized enterprises in central and eastern Europe.




Poland      Direct         Prospect Poland Fund          -             Equity fund supporting medium-sized                Equity funds   Private     1994       24,587         0     6,283           0       6,283
            investment                                                 enterprises.




Poland      Regional       East European Food Fund       -             Investment fund focusing on food and beverage      Agribusiness   Private     1995        3,486         0       823           0         823
            investment                                                 sector.




Poland      Direct         Bank Przemyslowo-Handlowy -                 Partial privatisation of commercial bank.          Bank equity    Private     1994       34,160         0    34,160           0      34,160
            investment




Poland      Direct         Orix Polska                   -             Equity investment in industrial equipment leasing Insurance and   Private     1995        1,206         0     1,206           0       1,206
            investment                                                 facility.                                         financial
                                                                                                                         services


Poland      Direct         Kredyt Bank                   -             Expansion of branches, upgrade of technical        Bank equity    Private     1996        4,017         0     4,017           0       4,017
            investment                                                 infrastructure and improvement of banking
                                                                       products.


Poland      Regional       MBA loan project              -             Financial support for students undertaking MBA     Bank lending   Private     1995        2,216       707         0         530       1,237
            investment                                                 degrees at top-tier business schools.




Poland      Direct         Waresco                       -             Construction of international-standard office      Property and   Private     1996       23,889      6,489        0           0       6,489
            investment                                                 development.                                       tourism




   All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project   Description                                            Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Poland      Direct         Faure and Machet            -             Development of Parc Logistique, the first large-       Property and    Private     1995       27,932      7,883        0           0       7,883
            investment                                               scale distribution logistics facility constructed in   tourism
                                                                     central and eastern Europe.


Poland      Direct         Warsaw financial centre     -             Construction of private sector office                  Property and    Private     1996       81,802     13,447        0           0      13,447
            investment                                               development.                                           tourism




Poland      Direct         Forte                       -             Underwriting of Polish furniture company’s initial     Manufacturing   Private     1996       10,453         0     1,875           0       1,875
            investment                                               public offer and purchase of 20 per cent of            and services
                                                                     shares.


Poland      Direct         Mass privatisation programme Srubena      Improvement of industrial fastener                     Manufacturing   Private     1996        5,971         0     3,197           0       3,197
            investment                                               manufacturer’s production facilities.                  and services




Poland      Regional       Environmental Investment    -             Support for companies undertaking environment- Municipal and           Private     1997       15,400         0     3,500           0       3,500
            investment     Fund                                      related projects in the infrastructure sector. environmental
                                                                                                                    infrastructure


Poland      Direct         Stalexport                  -             Further privatisation of steel-trading and steel-      Manufacturing   Private     1998      136,318         0    27,434           0      27,434
            investment                                               producing holding.                                     and services




Poland      Direct         Warsaw wholesale market     -             Construction and operation of new wholesale       Agribusiness         State       1996       41,223     10,436        0           0      10,436
            investment                                               market and modernisation of trade infrastructure.




Poland      Direct         National Investment Fund    Zachodni      Equity investment in Polish enterprises.               Manufacturing   Private     1995        1,110      1,110        0           0       1,110
            investment                                                                                                      and services




Poland      Direct         National Investment Fund    Osmy          Equity investment in Polish enterprises.               Manufacturing   Private     1995        1,110      1,110        0           0       1,110
            investment                                                                                                      and services




Poland      Direct         National Investment Fund    Piaty         Equity investment in Polish enterprises.               Manufacturing   Private     1995         139        139         0           0         139
            investment                                                                                                      and services




   All investments 1991- 2009
                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project   Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                             (€ 000)
Poland      Direct         National Investment Fund     Siodmy        Equity investment in Polish enterprises.         Manufacturing   Private     1995        2,219      2,219        0           0       2,219
            investment                                                                                                 and services




Poland      Direct         National Investment Fund     Dwunasty      Equity investment in Polish enterprises.         Manufacturing   Private     1995        1,110      1,110        0           0       1,110
            investment                                                                                                 and services




Poland      Direct         National Investment Fund     Pietnasty     Equity investment in Polish enterprises.         Manufacturing   Private     1995        1,664      1,664        0           0       1,664
            investment                                                                                                 and services




Poland      Direct         National Investment Fund     Pierwszy      Equity investment in Polish enterprises.         Manufacturing   Private     1995        1,026      1,026        0           0       1,026
            investment                                                                                                 and services




Poland      Direct         New Europe Insurance         -             Investment fund supporting small and medium-     Insurance and   Private     1996       24,366         0     2,173           0       2,173
            investment     Ventures                                   sized insurance companies.                       financial
                                                                                                                       services


Poland      Direct         Mass privatisation programme Krotoszyn     Restructuring and development of auto cylinder   Manufacturing   Private     1996        2,635      2,635        0           0       2,635
            investment                                                liner manufacturer’s operations.                 and services




Poland      Direct         KZP - Poland (Trebruk)       -             Restructuring of pulp and paper mill.            Manufacturing   Private     1996       38,543     10,250        0           0      10,250
            investment                                                                                                 and services




Poland      Direct         Rolimpex                     -             Modernisation and expansion of agribusiness      Agribusiness    Private     1996       68,440         0    12,957           0      12,957
            investment                                                trading and processing company.




Poland      Direct         Polish Enterprise Fund       -             Financing for small and medium-sized             Equity funds    Private     1996      122,231         0    29,437           0      29,437
            investment                                                enterprises.




Poland      Direct         Pioneer Poland Real Estate   -             Development of real estate and investment        Property and    Private     1997         485          0       485           0         485
            investment     Fund                                       opportunities in Poland.                         tourism




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                     Sub project      Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Poland      Regional       DBG Osteuropa Holding            -                Private equity fund supporting medium-sized          Equity funds     Private     1997        7,120         0     2,556           0       2,556
            investment     GmbH                                              enterprises.




Poland      Direct         Bank Gospodarki                  -                Equity investment in bank focusing on rural          Bank equity      Private     2004      290,726     86,723        0           0      86,723
            investment     Zywnosciowej                                      finance.




Poland      Direct         Air Liquide                      Huta Katowice    Construction and operation of on-site air-           Manufacturing    Private     1997       30,490     13,370        0           0      13,370
            investment                                                       separation facility.                                 and services




Poland      Direct         Central Poland Fund              -                Private equity fund investing in small and           Equity funds     Private     1998       13,095         0     2,692           0       2,692
            investment                                                       medium-sized companies.




Poland      Direct         Hortex Holding                   -                Restructuring of fruit and vegetable juice           Agribusiness     Private     1997       71,208         0    13,645           0      13,645
            investment                                                       producer.




Poland      Direct         Lafarge multi-project facility   Kujawy and RMC   Acquisition, modernisation, expansion,               Manufacturing    Private     1996       97,521         0    28,149           0      28,149
            investment                                                       construction and operation of manufacturing          and services
                                                                             facilities in the cement, lime, aggregates and
                                                                             ready-mix concrete sectors.

Poland      Direct         Cementownia Chelm                -                Modernisation and restructuring of cement            Manufacturing    Private     1997       59,343     14,312   14,312           0      28,624
            investment                                                       producer.                                            and services




Poland      Direct         Krakow urban transport           -                Construction of fast tram link along the north-      Municipal and    State       1998      134,574     35,000        0           0      35,000
            investment                                                       south axis of the city.                              environmental
                                                                                                                                  infrastructure


Poland      Direct         Kruszwica                        -                Modernisation of edible oil production facilities.   Agribusiness     Private     1997       38,943     15,363        0           0      15,363
            investment




Poland      Direct         Waresco                          -                Construction of international-standard office        Property and     Private     1997        3,072       902         0           0         902
            investment                                                       development.                                         tourism




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                      Sub project   Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Poland      Direct         Danuta                            -             Equity investment in pasta factory.               Agribusiness     Private     1997       31,526         0     5,172           0       5,172
            investment




Poland      Direct         Kredyt Bank                       -             Expansion of branches, upgrade of technical       Bank equity      Private     1997        1,782         0     1,782           0       1,782
            investment                                                     infrastructure and improvement of banking
                                                                           products.


Poland      Direct         Bank Przemyslowo-Handlowy -                     Convertible bond issue in commercial bank.        Bank equity      Private     1998       13,983         0    13,983           0      13,983
            investment




Poland      Regional       Baring Communications             -             Private equity fund targeting the media and       Telecoms,       Private      1997       16,564         0     3,717           0       3,717
            investment                                                     communications sector.                            informatics and
                                                                                                                             media


Poland      Direct         Polish pre-initial public offer   -             Financing for enterprises about to be listed on   Equity funds     Private     1998        7,341         0     3,873           0       3,873
            investment     finance facility                                the stock exchange.




Poland      Direct         Krono-Wood Spolka zoo             -             Investment in timber sheet manufacturer.          Manufacturing    Private     1997      106,096     19,173        0           0      19,173
            investment                                                                                                       and services




Poland      Regional       Communication and                 -             Private equity fund targeting the media and       Telecoms,       Private      1999       13,170         0     3,981           0       3,981
            investment     Information Technology Fund                     communications sector.                            informatics and
                                                                                                                             media


Poland      Direct         PWN Wydawnictwo Naukowe -                       Expansion of publisher’s investment programme. Manufacturing       Private     1998       17,257         0     8,657           0       8,657
            investment                                                                                                    and services




Poland      Direct         Kredyt Bank                       -             Expansion of branches, upgrade of technical       Bank equity      Private     1997       60,350         0     6,916           0       6,916
            investment                                                     infrastructure and improvement of banking
                                                                           products.


Poland      Direct         Wroclaw municipal                 -             Improvements to flood-damaged municipal           Municipal and    State       1998       35,510     15,510        0           0      15,510
            investment     infrastructure flood damage                     transport infrastructure.                         environmental
                           repair                                                                                            infrastructure




   All investments 1991- 2009
                                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                       Sub project                Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                   (€ 000)
Poland      Direct         Lafarge multi-project facility     Malogoszcz and Wierzbica Acquisition, modernisation, expansion,               Manufacturing    Private     1997      129,375         0    13,417           0      13,417
            investment                                                                 construction and operation of manufacturing          and services
                                                                                       facilities in the cement, lime, aggregates and
                                                                                       ready-mix concrete sectors.

Poland      Regional       Advent Central and Eastern         -                          Private equity fund supporting small and medium- Equity funds       Private     1997       14,822         0     5,814           0       5,814
            investment     Europe Fund II                                                sized enterprises in central and eastern Europe.




Poland      Direct         Honeywell ESCO Poland              -                          Establishment, acquisition or expansion and        Manufacturing    Private     1998        1,081         0       371           0         371
            investment                                                                   operation of energy services companies.            and services




Poland      Direct         Dalkia Multi-Project Facility II   Poznan cogeneration        Privatisation of ZEC Poznan, the combined heat     Municipal and    Private     1997       28,825      3,604    1,201           0       4,805
            investment                                        privatisation              and power plant in Poznan.                         environmental
                                                                                                                                            infrastructure


Poland      Regional       Innova/98                          -                          Private equity fund supporting small and medium- Equity funds       Private     1998       51,427         0    11,926           0      11,926
            investment                                                                   sized enterprises.




Poland      Regional       AIG New Europe Fund                -                          Private equity fund investing in central and       Equity funds     Private     1999       35,059         0     6,910           0       6,910
            investment                                                                   eastern Europe.




Poland      Regional       Central and Eastern Europe         -                          Investment in private sector projects in power     Power and        Private     1999        4,288         0     1,307           0       1,307
            investment     Power Fund                                                    generation, transmission and district heating.     energy




Poland      Regional       Emerging Europe Capital            -                          Direct equity fund investing in central and eastern Equity funds    Private     1999       29,370         0     9,341           0       9,341
            investment     Investors LDC                                                 Europe.




Poland      Direct         Animex                             -                          Restructuring of meat processing operations.       Agribusiness     Private     2001      149,965     17,501        0           0      17,501
            investment




Poland      Direct         Pekao                              -                          Equity investment financing the bank's interest-   Bank equity      Private     1998       88,077         0    88,077           0      88,077
            investment                                                                   earning assets and technology investments.




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                     Sub project       Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                              Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                            value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                          (€ 000)
Poland      Regional       Energy Efficiency and            -                 Equity financing for energy efficiency and           Power and        Private     1999       17,750         0     5,000           0       5,000
            investment     Emissions Reduction Fund                           emission-reducing projects.                          energy




Poland      Direct         LandG ESCO Poland                -                 Implementation of small and medium-sized             Manufacturing    Private     1999        5,886       246       246           0         491
            investment                                                        energy efficiency projects.                          and services




Poland      Direct         Kredyt Bank                      -                 Expansion of branches, upgrade of technical          Bank equity      Private     1999       87,144         0     8,553           0       8,553
            investment                                                        infrastructure and improvement of banking
                                                                              products.


Poland      Direct         Polish dairy facility            ING Bank Slaski   Modernisation of 10-15 dairies and their             Bank lending     Private     2000       10,821      2,821        0           0       2,821
            investment                                                        supplying farms to upgrade milk quality to EU
                                                                              standards.


Poland      Direct         Slodownia Soufflet multi-        Polska SARL       Purchase, modernisation and expansion of malt        Agribusiness     Private     1998       27,869     13,652        0           0      13,652
            investment     project facility                                   production facilities and machinery.




Poland      Direct         PKP restructuring and            -                 Restructuring and improvement of productivity        Transport        State       2000      230,000    100,000        0           0     100,000
            investment     privatisation                                      and competitiveness of rail transport services.




Poland      Direct         Gdansk urban transport           -                 Upgrade of tramway tracks and cars, purchase         Municipal and    State       2001       26,100     12,000        0           0      12,000
            investment                                                        of new buses and introduction of electronic          environmental
                                                                              ticketing.                                           infrastructure


Poland      Direct         Telekomunikacja Polska           -                 Privatisation of telecommunications operator.        Telecoms,       Private      1998      659,161         0    64,862           0      64,862
            investment                                                                                                             informatics and
                                                                                                                                   media


Poland      Direct         Krakow Plaszow II                -                 Modernisation of mechanical treatment facility       Municipal and    State       2000       63,581      5,281        0           0       5,281
            investment                                                        and construction of biological treatment facility.   environmental
                                                                                                                                   infrastructure


Poland      Direct         Lafarge multi-project facility   Lafarge Polska    Acquisition, modernisation, expansion,               Manufacturing    Private     1998       28,071         0     6,137           0       6,137
            investment                                                        construction and operation of manufacturing          and services
                                                                              facilities in the cement, lime, aggregates and
                                                                              ready-mix concrete sectors.




   All investments 1991- 2009
                                                                                                                                                                         fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                      value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                    (€ 000)
Poland      Direct         Alpha properties                -             Development, construction, renovation and     Property and           Private     1999       52,816      9,325        0           0       9,325
            investment                                                   management of properties in Gdansk, Sopot and tourism
                                                                         Gdynia.


Poland      Direct         Private Equity Fund Co-         -             Equity investment in small and medium-sized         Manufacturing    Private     1999      111,655     13,867        0           0      13,867
            investment     financing Facility                            manufacturers.                                      and services




Poland      Regional       MBA loan project                -             Financial support for students undertaking MBA      Bank lending     Private     1998         478         99         0          99         199
            investment                                                   degrees at top-tier business schools.




Poland      Direct         Nordea Bank Polska              -             Financing for small and medium-sized                Bank lending     Private     1999       22,599     22,599        0           0      22,599
            investment                                                   enterprises.




Poland      Direct         Danone multi-project facility   LU Polska     Investment in dairy, confectionery and mineral      Agribusiness     Private     1999       81,643         0    23,514           0      23,514
            investment                                                   water companies.




Poland      Direct         Bydgoszcz water                 -             Modernisation of sewer system and integration       Municipal and    State       1999       87,393     15,257        0           0      15,257
            investment                                                   with newly constructed waste-water treatment        environmental
                                                                         plants.                                             infrastructure


Poland      Direct         EU/EBRD SME Finance             WBK           Financing for small and medium-sized                Bank lending     Private     1999       10,000     10,000        0           0      10,000
            investment     Facility                                      enterprises.




Poland      Regional       Heitman Central Europe          -             Investment in property projects, primarily office   Property and     Private     2000       34,189         0     9,430           0       9,430
            investment     Property Partners Fund                        buildings, warehousing/distribution and retail      tourism
                                                                         shopping centres.


Poland      Direct         Polish dairy facility           WBK           Modernisation of 10-15 dairies and their            Bank lending     Private     2000        4,420      1,750        0           0       1,750
            investment                                                   supplying farms to upgrade milk quality to EU
                                                                         standards.


Poland      Direct         EU/EBRD SME Finance             Bank Slaski   Financing for small and medium-sized                Bank lending     Private     2000       10,000     10,000        0           0      10,000
            investment     Facility                                      enterprises.




   All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                     Sub project          Description                                        Sector            Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Poland      Regional       Argus Capital Partners           -                    Private equity fund supporting medium-sized        Equity funds      Private     2000       38,931         0     8,607           0       8,607
            investment                                                           enterprises.




Poland      Direct         Telekomunikacja Polska           -                    Joint EBRD/EIB guarantee facility for              Telecoms,       Private       1999      250,000         0         0      30,000      30,000
            investment                                                           telecommunications provider.                       informatics and
                                                                                                                                    media


Poland      Direct         Lafarge multi-project facility   Lafarge Polska       Acquisition, modernisation, expansion,             Manufacturing     Private     2000      100,800     45,318        0           0      45,318
            investment                                                           construction and operation of manufacturing        and services
                                                                                 facilities in the cement, lime, aggregates and
                                                                                 ready-mix concrete sectors.

Poland      Direct         KZP - Poland (Trebruk)           -                    Restructuring of pulp and paper mill.              Manufacturing     Private     2000       51,286     22,125        0           0      22,125
            investment                                                                                                              and services




Poland      Regional       Accession Mezzanine Capital      -                    Establishment of first dedicated mezzanine fund, Equity funds        Private     2002       37,000         0    15,000           0      15,000
            investment                                                           supporting mature companies.




Poland      Direct         Globe Trade Centre               -                    Expansion of property developer’s portfolio and    Property and      Private     2000       17,115         0    17,115           0      17,115
            investment                                                           future listing on the Warsaw Stock Exchange.       tourism




Poland      Direct         PKP restructuring and            -                    Restructuring and improvement of productivity      Transport         State       2002      130,000    130,000        0           0     130,000
            investment     privatisation                                         and competitiveness of rail transport services.




Poland      Direct         CAIB investment                  -                    Provision of anchor capital for a number of funds, Insurance and     Private     2001        1,193         0     1,193           0       1,193
            investment                                                           including the third-pillar pension programme.      financial
                                                                                                                                    services


Poland      Direct         EU/EBRD SME Finance              Fortis Bank Polska   Financing for small and medium-sized               Bank lending      Private     2000       10,000     10,000        0           0      10,000
            investment     Facility                                              enterprises.




Poland      Direct         Energo-Asekuracja                -                    Expansion of Polish insurer’s activities in the non- Insurance and   Private     2000       26,495         0     5,209           0       5,209
            investment                                                           life sector and the life assurance sector.           financial
                                                                                                                                      services




   All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project     Description                                          Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Poland      Direct         Wroclaw multi-sector        -               Modernisation of drinking water treatment plant      Municipal and    State       2000      163,400      5,460        0           0       5,460
            investment     municipal infrastructure                    and sewerage network and upgrade of solid            environmental
                                                                       waste landfill.                                      infrastructure


Poland      Direct         Polish Enterprise Fund      -               Financing for small and medium-sized                 Equity funds     Private     2000      163,635         0    48,047           0      48,047
            investment                                                 enterprises.




Poland      Direct         Europejski Fundusz          -               Expansion of Poland's largest independent            Insurance and    Private     2001       75,000     35,000        0           0      35,000
            investment     Leasingowy                                  equipment and vehicle lessor’s portfolio.            financial
                                                                                                                            services


Poland      Direct         Kruszwica                   -               Modernisation of edible oil production facilities.   Agribusiness     Private     2000        4,013      1,239        0           0       1,239
            investment




Poland      Direct         Pekao                       -               Equity investment financing the bank's interest-     Bank equity      Private     2000       13,164         0    13,164           0      13,164
            investment                                                 earning assets and technology investments.




Poland      Regional       Raiffeisen EU Enlargement   -               Private equity fund supporting small and medium- Equity funds         Private     2001       13,662         0     6,582           0       6,582
            investment     Fund                                        sized enterprises in central and eastern Europe.




Poland      Regional       DVI Inc                     -               Provision of medical equipment for hospitals and Insurance and        Private     2001        8,520      2,260        0           0       2,260
            investment                                                 diagnostic centres.                              financial
                                                                                                                        services


Poland      Direct         Cementownia Chelm           -               Modernisation and restructuring of cement            Manufacturing    Private     2000       26,076     26,076        0           0      26,076
            investment                                                 producer.                                            and services




Poland      Direct         EMPiK Centrum               -               Modernisation and refurbishment of department        Manufacturing    Private     2000       12,348     12,348        0           0      12,348
            investment                                                 store and multi-media bookstore.                     and services




Poland      Direct         EU/EBRD SME Finance         Bank Zachodni   Financing for small and medium-sized                 Bank lending     Private     2001       10,000     10,000        0           0      10,000
            investment     Facility                                    enterprises.




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Poland      Direct         Atrium                        -             Construction of business centre and hotel.         Property and    Private     2000       80,980     14,500        0           0      14,500
            investment                                                                                                    tourism




Poland      Direct         Hortex Holding                -             Restructuring of fruit and vegetable juice         Agribusiness    Private     2000       10,973     10,973        0           0      10,973
            investment                                                 producer.




Poland      Direct         EU/EBRD SME Finance           Pekao         Financing for small and medium-sized               Bank lending    Private     2001       20,000     20,000        0           0      20,000
            investment     Facility                                    enterprises.




Poland      Regional       Innova/3                      -             Private equity fund supporting small and medium- Equity funds      Private     2001       56,498         0     6,698           0       6,698
            investment                                                 sized enterprises.




Poland      Direct         Pekao                         -             Equity investment financing the bank's interest-   Bank equity     Private     2000       42,996         0    42,996           0      42,996
            investment                                                 earning assets and technology investments.




Poland      Direct         Nova Polonia Private Equity   -             Financing for small and medium-sized               Equity funds    Private     2001       30,050         0    10,000           0      10,000
            investment     Fund                                        enterprises.




Poland      Direct         Sokolow                       -             Consolidation and expansion of meat processor’s Agribusiness       Private     2001       73,124      4,924        0           0       4,924
            investment                                                 operations.




Poland      Regional       Spearhead International       -             Expansion of food supplier’s operations.           Agribusiness    Private     2001        5,489      5,489        0           0       5,489
            investment




Poland      Direct         Polska Telefonica Cyfrowa     -             Construction of wireless telecommunications        Telecoms,       Private     2001      656,062     81,062        0           0      81,062
            investment                                                 network.                                           informatics and
                                                                                                                          media


Poland      Direct         Danuta                        -             Equity investment in pasta factory.                Agribusiness    Private     1997        4,033         0     4,033           0       4,033
            investment




   All investments 1991- 2009
                                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name               Sub project                 Description                                        Sector           Portfolio   Year of       Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing     project loan    (€    equity   guarantee    finance
                                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                              (€ 000)
Poland      Direct         Rheinhyp-BRE Bank          -                           Purchase of issued mortgage bonds and support Insurance and         Private     2002        30,403      30,403        0           0      30,403
            investment     Hipoteczny mortgage bond                               for bank’s commercial and residential mortgage financial
                           purchase framework                                     portfolio.                                     services


Poland      Direct         Rybnik sewerage network    -                           Construction of sewerage network connecting        Municipal and    State       2001       112,721      19,721        0           0      19,721
            investment     development programme                                  with the waste-water treatment plant.              environmental
                                                                                                                                     infrastructure


Poland      Regional       IKB co-financing risk      -                           Unfunded risk participation facility for companies Bank lending     Private     2001        10,600          0         0      10,600      10,600
            investment     participation agreement                                in the Czech Republic.
                           (guarantee)


Poland      Direct         Lukas Bank                 -                           Financing for small and medium-sized               Bank lending     Private     2001        21,322      21,322        0           0      21,322
            investment                                                            enterprises.




Poland      Direct         EU/EBRD SME Finance        Raiffeisen Leasing Polska   Financing for small and medium-sized               Insurance and    Private     2002        10,431      10,431        0           0      10,431
            investment     Facility                                               enterprises.                                       financial
                                                                                                                                     services


Poland      Direct         Belchatow II               -                           Modernisation of power plant to bring it in line   Power and        State       2006      1,855,694     69,061        0           0      69,061
            investment                                                            with EU environmental standards.                   energy




Poland      Direct         EU/EBRD SME Finance        BZ WBK                      Financing for small and medium-sized               Bank lending     Private     2002        20,000      20,000        0           0      20,000
            investment     Facility                                               enterprises.




Poland      Direct         EU/EBRD SME Finance        Fortis Bank Polska          Financing for small and medium-sized               Bank lending     Private     2001        10,000      10,000        0           0      10,000
            investment     Facility                                               enterprises.




Poland      Direct         EU/EBRD SME Finance        Raiffeisen Bank Polska      Financing for small and medium-sized               Bank lending     Private     2002        10,345       3,621        0           0       3,621
            investment     Facility                                               enterprises.




Poland      Regional       Black Sea Fund             -                           Equity investment in medium-sized local            Equity funds     Private     2002         1,379          0       420           0         420
            investment                                                            enterprises and facilitation of foreign direct
                                                                                  investment in the region.




   All investments 1991- 2009
                                                                                                                                                                                fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                       Sub project           Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                            (€ 000)
Poland      Direct         Skypet                             -                     Construction and installation of new PET resin   Manufacturing    Private     2002      59,045      18,288        0           0      18,288
            investment                                                              manufacturing facility.                          and services




Poland      Direct         Sopot urban transport              -                     Construction of essential road underpasses and   Municipal and    State       2001       8,224       5,000        0           0       5,000
            investment                                                              improvement of traffic management.               environmental
                                                                                                                                     infrastructure


Poland      Direct         Wroclaw Water financing            -                     Upgrade of existing water treatment facility.    Municipal and    State       2003      60,969      10,000        0           0      10,000
            investment     project                                                                                                   environmental
                                                                                                                                     infrastructure


Poland      Direct         EU/EBRD SME Finance                ING Bank Slaski       Financing for small and medium-sized             Bank lending     Private     2002      20,000      20,000        0           0      20,000
            investment     Facility                                                 enterprises.




Poland      Regional       DBG Osteuropa Holding              -                     Private equity fund supporting medium-sized      Equity funds     Private     2003      21,780          0     6,600           0       6,600
            investment     GmbH                                                     enterprises.




Poland      Regional       Danfoss debt facility for          -                     Financing for energy efficiency projects in      Manufacturing    Private     2002         980        230         0           0         230
            investment     industrial energy projects                               selected east European breweries.                and services




Poland      Regional       Askembla Growth Fund               -                     Private equity fund supporting medium-sized      Equity funds     Private     2002      14,544          0     4,000           0       4,000
            investment                                                              enterprises.




Poland      Direct         EU/EBRD SME Finance                BZ WBK Leasing        Financing for small and medium-sized             Insurance and    Private     2003      21,056      21,056        0           0      21,056
            investment     Facility                                                 enterprises.                                     financial
                                                                                                                                     services


Poland      Direct         Dalkia Multi-Project Facility II   Poznan cogeneration   Privatisation of ZEC Poznan, the combined heat   Municipal and    Private     2002      94,748      21,748        0           0      21,748
            investment                                        privatisation         and power plant in Poznan.                       environmental
                                                                                                                                     infrastructure


Poland      Direct         Raiffeisen Bank Polska             -                     Financing for small and medium-sized             Bank lending     Private     2002      20,000      20,000        0           0      20,000
            investment                                                              enterprises.




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project          Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Poland      Direct         EU/EBRD SME Finance           Europejski Fundusz   Financing for small and medium-sized                Insurance and    Private     2002       20,000     20,000        0           0      20,000
            investment     Facility                      Leasingowy           enterprises.                                        financial
                                                                                                                                  services


Poland      Regional       Heitman Central Europe        -                    Investment in property projects, primarily office   Property and     Private     2002       24,799         0     8,050           0       8,050
            investment     Property Partners Fund                             buildings, warehousing/distribution and retail      tourism
                                                                              shopping centres.


Poland      Direct         Basell Orlen Polyolefins      -                    Development of petrochemical complex.               Manufacturing    Private     2003      350,538     23,269        0      23,269      46,538
            investment                                                                                                            and services




Poland      Direct         Polonia Property Fund         -                    Equity investment in regional property fund.        Property and     Private     2003      125,000         0    25,000           0      25,000
            investment                                                                                                            tourism




Poland      Direct         Bank Inicjatyw Spoleczno-     -                    Financing for municipalities and small and          Bank equity      Private     2004        9,747      9,747        0           0       9,747
            investment     Ekonomicznych                                      medium-sized enterprises.




Poland      Direct         EU/EBRD SME Finance           PKO BP               Financing for small and medium-sized                Bank lending     Private     2003       20,000     20,000        0           0      20,000
            investment     Facility                                           enterprises.




Poland      Direct         City of Lodz road improvement -                    Upgrade of Lodz section of Pan-European             Municipal and    State       2002       18,980      6,582        0           0       6,582
            investment     project                                            Corridor VI and surrounding municipal streets.      environmental
                                                                                                                                  infrastructure


Poland      Direct         Intermarché - Pekao           -                    Financing for Intermarché franchisees and           Agribusiness     Private     2003       61,687         0         0       3,813       3,813
            investment     Framework Financing                                development of 50 new outlets.




Poland      Direct         Dom Development SA            -                    Development of new residential property             Property and     Private     2003       15,000     15,000        0           0      15,000
            investment                                                        projects.                                           tourism




Poland      Regional       Orco Aparthotels              -                    Expansion of extended-stay hotel chain.             Property and     Private     2003       17,725         0     1,263         632       1,895
            investment                                                                                                            tourism




   All investments 1991- 2009
                                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                       Sub project            Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                              (€ 000)
Poland      Regional       Accession Fund                     -                      Property investments in the Czech Republic.       Property and     Private     2004      120,000         0    30,000           0      30,000
            investment                                                                                                                 tourism




Poland      Direct         PKP Energetyka network             -                      Establishment of two control and metering      Transport           State       2004       14,700     11,500        0           0      11,500
            investment     management project                                        centres and procurement of railway maintenance
                                                                                     vehicles.


Poland      Direct         Aster City                         -                      Acquisition of Polish cable television and        Telecoms,       Private      2003      140,149     23,749        0           0      23,749
            investment                                                               broadband service provider.                       informatics and
                                                                                                                                       media


Poland      Direct         Bydgoszcz Water revenue            -                      Financing to enable consolidation and             Municipal and    State       2005      187,719     16,228        0           0      16,228
            investment     bond                                                      improvements to the water and sewerage            environmental
                                                                                     system in Bydgoszcz.                              infrastructure


Poland      Direct         Exatel                             -                      Expansion of telecommunication provider’s         Telecoms,       Private      2002       99,908     68,230        0           0      68,230
            investment                                                               Polish network and acquisition of other telecom   informatics and
                                                                                     companies.                                        media


Poland      Direct         Dalkia Multi-Project Facility II   Poznan cogeneration    Privatisation of ZEC Poznan, the combined heat    Municipal and    Private     2003       20,000         0     7,000           0       7,000
            investment                                        privatisation          and power plant in Poznan.                        environmental
                                                                                                                                       infrastructure


Poland      Direct         Patnow II                          -                      Construction of a new unit at the ZE Patnow       Power and        Private     2005      550,000     62,780        0           0      62,780
            investment                                                               Adamow Konin S.A. (PAK), a group of three         energy
                                                                                     lignite-fired power plants.


Poland      Direct         EU/EBRD SME Finance                SG Equipment Leasing   Financing for small and medium-sized              Insurance and    Private     2003       13,952     13,952        0           0      13,952
            investment     Facility                           Polska                 enterprises.                                      financial
                                                                                                                                       services


Poland      Direct         Europa distribution centre         -                      Phased development of warehouse and light         Property and     Private     2003        9,000      9,000        0           0       9,000
            investment                                                               industrial buildings.                             tourism




Poland      Regional       Raiffeisen International           -                      Equity investment supporting growth of            Bank equity      Private     2004       10,000         0     5,000           0       5,000
            investment                                                               Raiffeisen International's business in Bosnia and
                                                                                     Herzegovina.




   All investments 1991- 2009
                                                                                                                                                                                   fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                       Sub project           Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                   Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                 value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                               (€ 000)
Poland      Regional       Private Equity Fund Facility       Trigranit             Equity investment in leading commercial property Property and        Private     2004       9,040          0       160           0         160
            investment                                                              developer and operator.                          tourism




Poland      Regional       International Water United         -                     Acquisition of three water utility companies.       Municipal and    Private     2003       2,832          0     1,032           0       1,032
            investment     Utilities                                                                                                    environmental
                                                                                                                                        infrastructure


Poland      Direct         UNIQA TU                           -                     Equity investment in composite insurer.             Insurance and    Private     2003      27,000          0    26,247           0      26,247
            investment                                                                                                                  financial
                                                                                                                                        services


Poland      Direct         UNIQA TU na Zycie                  -                     Equity investment in composite insurer.             Insurance and    Private     2003       5,593          0     5,593           0       5,593
            investment                                                                                                                  financial
                                                                                                                                        services


Poland      Direct         Dalkia Multi-Project Facility II   Poznan cogeneration   Privatisation of ZEC Poznan, the combined heat      Municipal and    Private     2004      50,835          0     4,235           0       4,235
            investment                                        privatisation         and power plant in Poznan.                          environmental
                                                                                                                                        infrastructure


Poland      Direct         Celsa Huta Ostrowiec               -                     Restructuring of steel mill.                        Manufacturing    Private     2004      52,165      20,000        0           0      20,000
            investment                                                                                                                  and services




Poland      Regional       Polish Enterprise Fund V           -                     Private equity fund investing in enterprises in     Equity funds     Private     2004      27,900          0    27,900           0      27,900
            investment                                                              Poland.




Poland      Direct         Krakow public transport            -                     Investment in public transport infrastructure and   Municipal and    State       2005      68,175      18,276        0           0      18,276
            investment                                                              rolling stock to improve services.                  environmental
                                                                                                                                        infrastructure


Poland      Regional       Advent Central and Eastern         -                     Private equity fund investing in Poland.            Equity funds     Private     2004      99,142          0    15,000           0      15,000
            investment     Europe Successor Fund




Poland      Direct         Private Equity Fund Co-            -                     Equity investment in small and medium-sized         Manufacturing    Private     2004      30,494          0     2,526           0       2,526
            investment     financing Facility                                       manufacturers.                                      and services




   All investments 1991- 2009
                                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project                 Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                                (€ 000)
Poland      Direct         EU/EBRD SME Finance             Bankowy Fundusz             Credit line for on-lending to small and medium-   Insurance and    Private     2005       14,620     14,620        0           0      14,620
            investment     Facility                        Leasingowy                  sized businesses.                                 financial
                                                                                                                                         services


Poland      Direct         Spearhead (Top Farms)           -                           Expansion of food supplier’s operations.          Agribusiness     Private     2003        4,761      4,761        0           0       4,761
            investment




Poland      Direct         Arka BZ WBK Property Market -                               Investment in commercial and residential          Property and     Private     2004       11,125         0    11,125           0      11,125
            investment     Fund                                                        property developments.                            tourism




Poland      Direct         EU/EBRD Rural Financing         Bank Gospodarki             Credit line for on-lending to small and medium-   Bank lending     Private     2006       15,000     15,000        0           0      15,000
            investment     Facility                        Zywnosciowej                sized businesses in rural areas.




Poland      Direct         EU/EBRD SME Finance             Raiffeisen Leasing Polska   Credit line for on-lending to small and medium-   Insurance and    Private     2005        5,000      5,000        0           0       5,000
            investment     Facility                                                    sized businesses.                                 financial
                                                                                                                                         services


Poland      Regional       Europolis II                    -                           Development of commercial property projects.      Property and     Private     2004       17,162      1,624    2,165           0       3,788
            investment                                                                                                                   tourism




Poland      Direct         Gdansk urban transport          -                           Purchase of up to 35 new buses and extension of Municipal and      State       2004        6,965      6,579        0           0       6,579
            investment     project                                                     tram tracks.                                    environmental
                                                                                                                                       infrastructure


Poland      Direct         Dalkia Multi-Project Facility   Lodz cogeneration           Acquisition of ZEC Lodz, a district heating and   Municipal and    Private     2004      219,441         0    39,120           0      39,120
            investment                                     privatisation               cogeneration utility in Lodz.                     environmental
                                                                                                                                         infrastructure


Poland      Direct         Kaufland Polska Markety         -                           Support for strategic expansion of Kaufland       Agribusiness     Private     2005      153,644     75,384        0           0      75,384
            investment                                                                 discount hypermarket chain.




Poland      Direct         BPH Property Fund               -                           Creation of a fund to purchase medium-sized       Property and     Private     2005       12,351         0    12,351           0      12,351
            investment                                                                 property                                          tourism




   All investments 1991- 2009
                                                                                                                                                                               fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                Sub project               Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                               Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                             value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                           (€ 000)
Poland      Direct         Krakow District Heating     -                         Modernisation of heating infrastructure to         Municipal and    State       2006      76,555       5,848        0           0       5,848
            investment     Project                                               increase energy efficiency and reduce pollution.   environmental
                                                                                                                                    infrastructure


Poland      Direct         EU/EBRD SME Finance         Deutsche Leasing Polska   Credit line for on-lending to small and medium-    Insurance and    Private     2005      10,000      10,000        0           0      10,000
            investment     Facility                                              sized businesses.                                  financial
                                                                                                                                    services


Poland      Direct         JWK                         -                         Investment in a property development company. Property and          Private     2005      15,332      10,332        0           0      10,332
            investment                                                                                                         tourism




Poland      Direct         Private Equity Fund Co-     -                         Equity investment in small and medium-sized        Agribusiness     Private     2004      53,900          0     8,000           0       8,000
            investment     financing Facility                                    manufacturers.




Poland      Regional       Véolia Voda                 -                         Equity investment in Véolia Voda enabling it to    Municipal and    Private     2007      29,400          0    29,400           0      29,400
            investment                                                           expand in central and eastern Europe, Russian      environmental
                                                                                 and Ukraine.                                       infrastructure


Poland      Direct         Avallon                     -                         Investment in private equity firm.                 Equity funds     Private     2007      12,000          0    12,000           0      12,000
            investment




Poland      Regional       Argus Capital Partners II   -                         Private equity fund supporting medium-sized        Equity funds     Private     2005       4,000          0     4,000           0       4,000
            investment                                                           enterprises. Successor to the Argus Capital
                                                                                 Partners fund.


Poland      Direct         SPS Investment              -                         Finance for a hotel in Warsaw.                     Property and     Private     2005         101          0       101           0         101
            investment                                                                                                              tourism




Poland      Direct         Private Equity Fund Co-     -                         Restructuring of loan under facility.              Manufacturing    Private     2005      13,867      13,867        0           0      13,867
            investment     financing Facility                                                                                       and services




Poland      Regional       Emerging Europe             -                         Direct equity fund investing in central and eastern Equity funds    Private     2005       4,200          0     4,200           0       4,200
            investment     Convergence Fund II                                   Europe.




   All investments 1991- 2009
                                                                                                                                                                              fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project          Description                                        Sector            Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                           value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                         (€ 000)
Poland      Direct         EU/EBRD Rural Financing       BZ WBK Finance and   Credit line for on-lending to small and medium-    Insurance and     Private     2006        7,000      7,000        0           0       7,000
            investment     Facility                      Leasing              sized businesses in rural areas.                   financial
                                                                                                                                 services


Poland      Direct         EU/EBRD Rural Finance         BZ WBK Leasing       Credit line for on-lending to small and medium-    Insurance and     Private     2005        5,000      5,000        0           0       5,000
            investment     Facility                                           sized agribusinesses.                              financial
                                                                                                                                 services


Poland      Regional       Véolia Transport (formerly    -                    Equity funding to expand transport services.       Municipal and     Private     2005       47,048         0    15,298           0      15,298
            investment     Connex)                                                                                               environmental
                                                                                                                                 infrastructure


Poland      Regional       SG AM Eastern Europe          -                    Investment in consumer services and                Equity funds      Private     2005        5,940         0     3,300           0       3,300
            investment                                                        manufacturing companies.




Poland      Direct         Gliwice Environmental         -                    Transfer of the Bank’s existing loan from the City Municipal and     State       2005       53,140     15,000        0           0      15,000
            investment     Programme                                          of Gliwice to Gliwice PWiK                         environmental
                                                                                                                                 infrastructure


Poland      Direct         Dalkia Litesko                -                    Additional equity financing for Dalkia Lodz for the Municipal and    Private     2005        7,406         0     7,406           0       7,406
            investment                                                        acquisition of the district heating company.        environmental
                                                                                                                                  infrastructure


Poland      Regional       Alpha CEE II                  -                    Diversified regional private equity fund dedicated Equity funds      Private     2006       15,000         0    15,000           0      15,000
            investment                                                        to central and eastern Europe.




Poland      Regional       Royalton Partners II          -                    Equity financing for local service providers.      Equity funds      Private     2007        7,500         0     7,500           0       7,500
            investment




Poland      Direct         Krakow Plaszow II             -                    Modernisation and expansion of a waste-water       Municipal and     State       2006      125,680     20,078        0           0      20,078
            investment                                                        plant.                                             environmental
                                                                                                                                 infrastructure


Poland      Regional       Baltcap Private Equity Fund   -                    Private equity fund investing primarily in Estonia, Equity funds     Private     2007        2,000         0     2,000           0       2,000
            investment                                                        Latvia, and Lithuania.




   All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                    Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Poland      Direct         Fagor Wrozamet                -             Modernisation of an existing plant and             Manufacturing   Private     2006       68,800     17,500        0           0      17,500
            investment     Restructuring                               construction of a new facility for a white goods   and services
                                                                       company.


Poland      Direct         Nova Polonia Natexis II       -             Equity investment in a private equity fund.        Equity funds    Private     2006       25,000         0    25,000           0      25,000
            investment




Poland      Regional       AIG New Europe Fund II        -             Regional private equity fund investing in equity  Equity funds     Private     2006       15,000         0    15,000           0      15,000
            investment                                                 and equity securities of companies in central and
                                                                       south-eastern Europe, subsidiary of AIG Global
                                                                       Investment Group.

Poland      Regional       Syntaxis Mezzanine Fund       -             Fund with a portfolio of Central European          Equity funds    Private     2007       10,400         0    10,000           0      10,000
            investment                                                 investments, in various sectors.




Poland      Regional       Accession Mezzanine Capital   -             Private equity fund investing in central and south- Equity funds   Private     2007       30,000         0     6,000           0       6,000
            investment     II                                          eastern European as well as Russia and
                                                                       Ukraine.


Poland      Direct         Advent Polish Investment      -             To provide capital and management help to          Equity funds    Private     1994        2,214         0     2,214           0       2,214
            investment     Fund                                        private companies.




Poland      Regional       Arka Property Fund II         -             Second investment into a real estate fund.         Property and    Private     2008       18,295         0    18,295           0      18,295
            investment                                                                                                    tourism




Poland      Direct         Celsa Huta Ostrowiec II       -             Loan for expansion and modernisation of a steel Manufacturing      Private     2007      158,000     78,000        0           0      78,000
            investment                                                 mill.                                           and services




Poland      Regional       IØ Fund                       -             Co-financing for small and medium-sized            Equity funds    Private     1995        2,984         0     2,984           0       2,984
            investment                                                 enterprises.




Poland      Regional       EnerCap                       -             Private equity fund dedicated to investing in   Power and          Private     2007       10,000         0     2,500           0       2,500
            investment                                                 renewable energy and energy efficiency projects energy
                                                                       in central and south-eastern Europe.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                  Sub project        Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Poland      Direct         Dalkia Poznan                 -                  Isolation of the EBRD's 10 per cent equity stake   Municipal and    Private     2004       9,173          0     9,173           0       9,173
            investment                                                      in the company.                                    environmental
                                                                                                                               infrastructure


Poland      Regional       Advent Central and Eastern    -                  Support investment into central and south-         Equity funds     Private     2008      10,000          0    10,000           0      10,000
            investment     Europe IV                                        eastern European and Ukrainian companies.




Poland      Direct         Hotel Atrium                  -                  Standby facility for Polish hotel.                 Property and     Private     2007      10,000      10,000        0           0      10,000
            investment                                                                                                         tourism




Poland      Regional       ViaOne                        -                  Equity investment to support the commercial        Telecoms,       Private      2008       1,694          0     1,000           0       1,000
            investment                                                      launch and development of ViaOne Europa            informatics and
                                                                            Holding's software platforms.                      media


Poland      Direct         Tychowo Wind Farm             -                  Construction of a 50MW wind farm.                  Power and        Private     2009      79,950      20,241        0      10,121      30,362
            investment                                                                                                         energy




Poland      Regional       ARX Private Equity Fund       -                  Support for investment to companies operating in Equity funds       Private     2008       6,000          0     6,000           0       6,000
            investment                                                      central and south-eastern Europe.




Poland      Regional       CEE Special Situations Fund   CRG Capital        Investment in an equity fund managed by CRG        Equity funds     Private     2009       4,000          0     4,000           0       4,000
            investment                                                      Partners targeting distressed and under-
                                                                            performing companies.


Poland      Regional       Aqualia Investment Venture    -                  Equity in a new company that invests in water      Municipal and    Private     2009      24,490          0    12,000           0      12,000
            investment                                                      concessions and acquires other privately held      environmental
                                                                            water groups.                                      infrastructure


Poland      Direct         EU/EBRD MSME preparatory      Inicjatywa Micro   Credit line to Inicjatywa Micro in support of micro, Small business Private     2009       2,924        975         0           0         975
            investment     action                                           small and medium-sized enterprises.                  finance




Poland      Direct         EU/EBRD Preparatory Action    Bank Wspolpracy    Support for micro, small and medium-sized          Bank lending     Private     2008       8,041       8,041        0           0       8,041
            investment     Framework                     Europejskiej       enterprises.




   All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                 Sub project   Description                                             Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                         Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Poland      Direct         ENEA                         -             Equity investment to support privatisation.             Power and        Private     2008      514,558         0    48,558           0      48,558
            investment                                                                                                        energy




Poland      Regional       Asseco South Eastern Europe -              Participation in the initial public offering of an IT   Telecoms,       Private      2009        7,500         0     7,500           0       7,500
            investment                                                company.                                                informatics and
                                                                                                                              media


Poland      Regional       Syntaxis Mezzanine Fund II   -             Equity in a regional fund which aims to                 Equity funds     Private     2009       52,500         0    10,500           0      10,500
            investment                                                strengthen corporate governance and build
                                                                      institutions.


Poland      Direct         Bydgoszcz Water              -             Additional financing to enable consolidation and        Municipal and    State       2009      147,425     29,241        0           0      29,241
            investment                                                improvements of the water and sewerage                  environmental
                                                                      system.                                                 infrastructure


Poland      Regional       Resource Eastern European    -             Support for institution building and expansion of       Equity funds     Private     2009       50,400         0    15,000           0      15,000
            investment     Equity Partners I                          private equity, business improvement and best
                                                                      ethics and governance.


Poland      Direct         Saturn Biomass               -             Construction of the biomass facility and                Power and        Private     2009      105,874     30,000        0           0      30,000
            investment                                                modernisation of Saturn Management's existing           energy
                                                                      combined heat and power plant.


Poland      Direct         Polish Leasing               WBK L         Funding for further expansion of the lease              Insurance and    Private     2009       25,000     25,000        0           0      25,000
            investment                                                portfolio to mainly rural MSMEs in Poland.              financial
                                                                                                                              services


Poland      Direct         Polish Leasing               WBK F&L       Funding for further expansion of the lease              Insurance and    Private     2009       25,000     25,000        0           0      25,000
            investment                                                portfolio to mainly rural MSMEs in Poland.              financial
                                                                                                                              services


Poland      Direct         Europejski Fundusz           -             The loan will enable EFL to expand its lease            Insurance and    Private     2009       70,585     70,585        0           0      70,585
            investment     Leasingowy (EFL)                           portfolio to MSMEs in Poland.                           financial
                                                                                                                              services


Poland      Regional       Heitman Eastern European     -             An equity investment into Heitman European              Property and     Private     2009       22,775         0     3,750           0       3,750
            investment     Property Fund                              Property Partners IV, an investment vehicle             tourism
                                                                      pursuing long-term capital appreciation through
                                                                      real estate investments.




   All investments 1991- 2009
                                                                                                                                                                            fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country     Type of        Project name                    Sub project   Description                                             Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
            investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Poland      Direct         Project Thaler - Gethin Noble   -             Intermediation of cross-currency basis swap.            Insurance and   Private     2009       30,000      6,000        0           0       6,000
            investment                                                                                                           financial
                                                                                                                                 services


Poland      Regional       Asseco South Eastern Europe -                 Participation in the initial public offering of an IT   Telecoms,       Private     2009        3,500      3,500        0           0       3,500
            investment                                                   company.                                                informatics and
                                                                                                                                 media


Poland      Direct         Bank DNB Nord Polska            -             Enabling the provision of new loans to MSME       Bank lending          Private     2009       31,678     15,839        0           0      15,839
            investment                                                   clients throughout Poland and funding to the real
                                                                         economy.


Poland      Direct         Millennium Bank                 -             Loan to improve Bank Millennium’s funding               Bank lending    Private     2009      100,000    100,000        0           0     100,000
            investment                                                   structure and to support its efforts to increase
                                                                         lending in the SME market.


Romania     Direct         Agribusiness development        -             Advisory services to Banca Agricola.                    Bank lending    Private     1992       48,547     48,547        0           0      48,547
            investment     project




Romania     Direct         Bucharest wholesale market      -             Construction of wholesale market and             Agribusiness           State       1994       27,149     17,313        0           0      17,313
            investment                                                   establishment of eight rural assembly and supply
                                                                         markets.


Romania     Direct         Banca Agricola                  -             Improvement and modernisation of information            Bank equity     Private     1994       17,558      4,685        0           0       4,685
            investment                                                   technology system.




Romania     Direct         Romanian Development Bank -                   Financing for small and medium-sized                    Bank lending    State       1994        5,356      5,356        0           0       5,356
            investment     (BRD)                                         enterprises.




Romania     Direct         Rom Telecom                     -             Connection of new subscribers, construction of          Telecoms,       Private     1992      549,200    142,000        0           0     142,000
            investment                                                   long-distance overlay digital network and               informatics and
                                                                         expansion of international capacity and local           media
                                                                         networks.

Romania     Direct         Emcom-Siemens                   -             Manufacture of telecommunications equipment.            Telecoms,       Private     1993       26,843      7,414        0           0       7,414
            investment                                                                                                           informatics and
                                                                                                                                 media




   All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project   Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Romania    Direct         Alpha Bank Romania              -             Equity investment in Alpha Bank Romania.          Bank equity      Private     1993       14,287      1,387        0           0       1,387
           investment




Romania    Direct         Petroleum pilot modernisation -               Improvement of productivity at selected oilfields. Natural         State       1992       25,541     18,952        0           0      18,952
           investment     project                                                                                          Resources




Romania    Direct         NAR restructuring and road      -             Restructuring of National Administration of       Transport        State       1993      353,919     55,482        0           0      55,482
           investment     rehabilitation project                        Roads (NAR) and upgrade of 224 km of roads.




Romania    Direct         Virolite                        -             Financing for ion-exchange resin manufacturing    Manufacturing    Private     1993       26,625      7,578    3,789           0      11,367
           investment                                                   plant.                                            and services




Romania    Direct         Coca-Cola Bihor and Iasi        -             Construction and purchase of equipment for two    Agribusiness     Private     1993       17,338      3,460        0           0       3,460
           investment                                                   soft-drink bottling plants and development of
                                                                        distribution network.


Romania    Direct         Athenee Palace (Bucharest)      -             Refurbishment and expansion of hotel.             Property and     Private     1994       36,813      9,904        0           0       9,904
           investment                                                                                                     tourism




Romania    Regional       Euromerchant Balkan Fund        -             Equity investment in venture capital fund         Equity funds     Private     1994        3,629         0     3,629           0       3,629
           investment                                                   supporting small and medium-sized private joint
                                                                        ventures.


Romania    Direct         Municipal utilities development -             Renovation and upgrade of municipal water         Municipal and    State       1995       48,956     19,419        0           0      19,419
           investment     programme                                     supply and waste-water infrastructure.            environmental
                                                                                                                          infrastructure


Romania    Direct         Tiriac Bank                     -             Equity investment and financing for small and     Bank equity      Private     1993        7,003         0     7,003           0       7,003
           investment                                                   medium-sized enterprises.




Romania    Direct         Capital                         -             Establishment of advisory and investment          Insurance and    Private     1993        4,504         0     1,704           0       1,704
           investment                                                   institution.                                      financial
                                                                                                                          services




  All investments 1991- 2009
                                                                                                                                                                       fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project   Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                       Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                    value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                  (€ 000)
Romania    Direct         Eurovision                      -             Design, supply and installation of earth station   Telecoms,       State        1992         694        694         0           0         694
           investment                                                   linked to the Eurovision Network via satellite.    informatics and
                                                                                                                           media


Romania    Direct         Bucharest-Pitesti motorway      -             Upgrade of 96 km of motorway.                      Transport        State       1996       71,711     36,826        0           0      36,826
           investment




Romania    Direct         Rompak                          -             Construction of modern yeast manufacturing         Agribusiness     Private     1996       21,153      5,201        0           0       5,201
           investment                                                   facility and production of high-quality baker's
                                                                        yeast.


Romania    Direct         Bank Coop                       -             Financing for small and medium-sized               Bank lending     Private     1994        3,722      3,722        0           0       3,722
           investment                                                   enterprises.




Romania    Direct         Tiriac Bank                     -             Financing for small and medium-sized               Bank lending     Private     1995       13,871     13,871        0           0      13,871
           investment                                                   enterprises.




Romania    Direct         Leventis Group                  -             Extension of Coca-Cola Bihor and Iasi loan.        Agribusiness     Private     1995       15,604      2,988        0           0       2,988
           investment




Romania    Direct         Railway rehabilitation          -             Restructuring of Romanian Railways (SNCFR)         Transport        State       1996      362,548     47,566        0           0      47,566
           investment                                                   and upgrade of infrastructure.




Romania    Direct         Municipal utilities development -             Renovation and upgrade of municipal water          Municipal and    State       1997      137,695     52,015        0           0      52,015
           investment     programme                                     supply and waste-water infrastructure.             environmental
                                                                                                                           infrastructure


Romania    Direct         Rom Telecom                     -             Privatisation of Romania's telecommunications      Telecoms,       Private      1998      456,107     69,353        0           0      69,353
           investment                                                   operator.                                          informatics and
                                                                                                                           media


Romania    Direct         Energy conservation and SME -                 Credit line to assist general and energy           Bank lending     Private     1996        8,827      6,053        0           0       6,053
           investment     credit line                                   conservation projects.




  All investments 1991- 2009
                                                                                                                                                                      fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project     Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                      Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                   value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                 (€ 000)
Romania    Direct         Power sector operational      Termoeletrica   Upgrade of five CHP generation plants and         Power and        State       1995      120,271     57,151        0           0      57,151
           investment     efficiency improvement                        transmission networks and installation of         energy
                                                                        metering equipment.


Romania    Direct         Romanian Development Bank -                   Financing for small and medium-sized              Bank lending     Private     1994       31,388     31,388        0           0      31,388
           investment     (BRD)                                         enterprises.




Romania    Regional       MBA loan project              -               Financial support for students undertaking MBA    Bank lending     Private     1995         852        272         0         204         476
           investment                                                   degrees at top-tier business schools.




Romania    Direct         Banca Agricola                -               Credit line providing medium to long-term         Bank lending     Private     1995       10,403     10,403        0           0      10,403
           investment                                                   financing for agribusiness companies.




Romania    Direct         Danube Fund                   -               Financing for small and medium-sized              Equity funds     Private     1996       13,624         0     3,429           0       3,429
           investment                                                   enterprises.




Romania    Direct         Prompt                        -               Modernisation of textile manufacturer’s existing Manufacturing     Private     1996        9,908         0     3,124           0       3,124
           investment                                                   plants, as well as acquisition and construction of and services
                                                                        new plants.


Romania    Direct         United Romanian Breweries     -               Construction of brewery and development of        Agribusiness     Private     1996       42,009      7,333        0           0       7,333
           investment                                                   distribution system.




Romania    Direct         Regional water and            -               Upgrade of water supply and waste-water           Municipal and    State       1996       36,032     11,096        0           0      11,096
           investment     environment programme                         infrastructure in the Jui Valley.                 environmental
                                                                                                                          infrastructure


Romania    Direct         NAR restructuring and road    -               Restructuring of National Administration of       Transport        State       1996      429,064     59,574        0           0      59,574
           investment     rehabilitation project                        Roads (NAR) and upgrade of 224 km of roads.




Romania    Direct         Thermal energy conservation   -               Restructuring and modernisation of district       Municipal and    State       1997       70,493     30,863        0           0      30,863
           investment     project                                       heating network and introduction of affordable,   environmental
                                                                        cost-reflective pricing.                          infrastructure




  All investments 1991- 2009
                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project   Description                                      Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                 Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                              value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                            (€ 000)
Romania    Direct         Arctic                       -             Privatisation and modernisation of leading       Manufacturing   Private     1997       36,092      9,566    3,826           0      13,392
           investment                                                Romanian white goods manufacturer.               and services




Romania    Direct         Alpha Bank Romania           -             Equity investment in Alpha Bank Romania.         Bank equity     Private     1997       12,801         0     1,843           0       1,843
           investment




Romania    Direct         Mobifon Romania GSM          -             Deployment and operation of national GSM         Telecoms,       Private     1997      276,318     71,727        0           0      71,727
           investment                                                network.                                         informatics and
                                                                                                                      media


Romania    Direct         Sical                        -             Modernisation of pulp and paper production       Manufacturing   Private     1999       48,375      6,000        0           0       6,000
           investment                                                facilities and improvement of environmental      and services
                                                                     conditions.


Romania    Direct         Virolite                     -             Financing for ion-exchange resin manufacturing   Manufacturing   Private     1997        1,387      1,387        0           0       1,387
           investment                                                plant.                                           and services




Romania    Direct         EPH grain handling project   -             Construction of grain storage and handling       Agribusiness    Private     1998       18,078      6,686        0           0       6,686
           investment                                                facilities at the Port of Constanta.




Romania    Regional       Baring Communications        -             Private equity fund targeting the media and      Telecoms,       Private     1997        5,521         0     1,239           0       1,239
           investment                                                communications sector.                           informatics and
                                                                                                                      media


Romania    Direct         SNP Petrom                   -             Restructuring and pre-privatisation of oil and gas Natural       Private     2002       77,814     50,628        0           0      50,628
           investment                                                company.                                           Resources




Romania    Direct         Bank Post                    -             Financing for small and medium-sized             Bank equity     Private     1998       24,180     17,244        0           0      17,244
           investment                                                enterprises.




Romania    Regional       Black Sea Fund               -             Equity investment in medium-sized local          Equity funds    Private     1998       17,062         0     6,867           0       6,867
           investment                                                enterprises and facilitation of foreign direct
                                                                     investment in the region.




  All investments 1991- 2009
                                                                                                                                                                        fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                      Sub project   Description                                        Sector          Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                        Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                     value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                   (€ 000)
Romania    Direct         Italian-Romanian industrial       -             Development, construction, letting and             Property and    Private     1998       69,724     21,790    3,632           0      25,422
           investment     development enterprise                          management of international-standard               tourism
                                                                          warehouse projects.


Romania    Direct         Parmalat multi-project facility   -             Financing for Parmalat's dairy and food industry   Agribusiness    Private     1998       12,092         0     2,092           0       2,092
           investment                                                     projects in the region.




Romania    Regional       Advent Central and Eastern        -             Private equity fund supporting small and medium- Equity funds      Private     1997        8,893         0     3,488           0       3,488
           investment     Europe Fund II                                  sized enterprises in central and eastern Europe.




Romania    Direct         Romania National Power Grid -                   Establishment of national transmission company Power and           State       2000      142,353     35,697        0           0      35,697
           investment     Company                                         and upgrade of existing lines and              energy
                                                                          communications.


Romania    Direct         Lafarge multi-project facility    Romcim        Acquisition and upgrade of cement                  Manufacturing   Private     1998      186,921         0    69,903           0      69,903
           investment                                                     manufacturing and related building material        and services
                                                                          plants.


Romania    Direct         IMGB and FECNE                    -             Privatisation and modernisation of two heavy       Manufacturing   Private     1998       30,816         0     5,242           0       5,242
           investment                                                     engineering plants.                                and services




Romania    Direct         Tiriac Bank                       -             Equity investment and financing for small and      Bank equity     Private     1998        2,793         0     2,793           0       2,793
           investment                                                     medium-sized enterprises.




Romania    Regional       Innova/98                         -             Private equity fund supporting small and medium- Equity funds      Private     1998        8,571         0     1,988           0       1,988
           investment                                                     sized enterprises.




Romania    Regional       AIG New Europe Fund               -             Private equity fund investing in central and       Equity funds    Private     1999       35,059         0     6,910           0       6,910
           investment                                                     eastern Europe.




Romania    Regional       Central and Eastern Europe        -             Investment in private sector projects in power     Power and       Private     1999        1,429         0       436           0         436
           investment     Power Fund                                      generation, transmission and district heating.     energy




  All investments 1991- 2009
                                                                                                                                                                             fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project          Description                                      Sector            Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                             Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                          value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                        (€ 000)
Romania    Direct         Mobifon Romania GSM             -                    Deployment and operation of national GSM         Telecoms,       Private       1999      104,237      5,305        0           0       5,305
           investment                                                          network.                                         informatics and
                                                                                                                                media


Romania    Direct         Danone multi-project facility   Danone SRL           Financing for yoghurt manufacturer.              Agribusiness      Private     1998       23,928         0     7,235           0       7,235
           investment




Romania    Regional       Energy Efficiency and           -                    Equity financing for energy efficiency and       Power and         Private     1999       10,650         0     3,000           0       3,000
           investment     Emissions Reduction Fund                             emission-reducing projects.                      energy




Romania    Direct         Romanian Development Bank -                          Purchase of 5 per cent share in bank.            Bank equity       Private     1999      159,175         0    20,469           0      20,469
           investment




Romania    Direct         Banca Transilvania              -                    Institutional development of commercial bank.    Bank equity       Private     2001        6,842         0     6,842           0       6,842
           investment




Romania    Regional       MBA loan project                -                    Financial support for students undertaking MBA   Bank lending      Private     1998         184         38         0          38          77
           investment                                                          degrees at top-tier business schools.




Romania    Direct         Fibrex                          -                    Privatisation and restructuring of nylon producer. Manufacturing   Private     2000       55,000     10,000        0           0      10,000
           investment                                                                                                             and services




Romania    Direct         Dalkia ESCO Romania             -                    Establishment, acquisition or expansion and    Municipal and       Private     1999       17,558         0     1,880           0       1,880
           investment                                                          operation of energy service companies (ESCOs). environmental
                                                                                                                              infrastructure


Romania    Direct         EU/EBRD SME Finance             Banca Transilvania   Financing for small and medium-sized             Bank lending      Private     1999        4,663      4,663        0           0       4,663
           investment     Facility                                             enterprises.




Romania    Regional       Private Equity Fund Facility    Trigranit            Equity investment in leading commercial property Property and      Private     1999        6,534         0     1,361           0       1,361
           investment                                                          developer and operator.                          tourism




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project           Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Romania    Direct         Victoria Centre offices       -                     Development, construction and management of      Property and     Private     2000       18,899      4,451        0           0       4,451
           investment                                                         office building.                                 tourism




Romania    Direct         US/EBRD SME Finance           ProCredit Romania     Financing for micro and small enterprises.       Small business Private       2002       29,246         0     2,280           0       2,280
           investment     Facility                                                                                             finance




Romania    Direct         CFR city stations             -                     Refurbishment of five city railway stations,     Transport        State       2003       27,850     24,000        0           0      24,000
           investment     enhancement project                                 improving passenger amenities and increasing
                                                                              commercial space.


Romania    Direct         Road sector restructuring and -                     Further restructuring of road sector and         Transport        State       2001      114,120     60,000        0           0      60,000
           investment     Pitesti by-pass                                     construction of Pitesti by-pass, part of Pan
                                                                              European Corridor IV.


Romania    Regional       EU/EBRD SME Finance           Euroventures Danube   Private equity fund supporting small and medium- Equity funds     Private     2001         142          0        15           0          15
           investment     Facility                                            sized enterprises.




Romania    Regional       TBIH Financial Services       -                     Expansion of insurance and pension operations    Insurance and    Private     2000        4,271       857     1,714           0       2,571
           investment                                                         in central and eastern Europe.                   financial
                                                                                                                               services


Romania    Regional       Innova/3                      -                     Private equity fund supporting small and medium- Equity funds     Private     2001       37,665         0     4,465           0       4,465
           investment                                                         sized enterprises.




Romania    Direct         EU/EBRD SME Finance           Banca Comerciala      Financing for small and medium-sized             Bank lending     Private     2001       20,000     20,000        0           0      20,000
           investment     Facility                      Romana                enterprises.




Romania    Direct         Municipal and Environmental   Constanta             Upgrade and extension of waste-water treatment Municipal and      State       2000      102,600     20,000        0           0      20,000
           investment     Loan Facility                                       plants.                                        environmental
                                                                                                                             infrastructure


Romania    Direct         Sidex                         -                     Privatisation and restructuring of Romanian steel Manufacturing   Private     2001      110,965     69,353        0           0      69,353
           investment                                                         plant.                                            and services




  All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project        Description                                        Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                       value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                     (€ 000)
Romania    Direct         Municipal and Environmental   Iasi               Upgrade and extension of waste-water treatment Municipal and        State       2001       55,000     13,200        0           0      13,200
           investment     Loan Facility                                    plants.                                        environmental
                                                                                                                          infrastructure


Romania    Direct         Interamerican Romania         -                  Expansion of insurance, health care, pension       Insurance and    Private     2002        2,358      2,358        0           0       2,358
           investment                                                      management, asset management and banking           financial
                                                                           operations.                                        services


Romania    Direct         US/EBRD SME Finance           Banca Romaneasca   Financing for micro and small enterprises.         Small business Private       2003        3,468      2,774        0           0       2,774
           investment     Facility                                                                                            finance




Romania    Regional       Europolis                     -                  Development of regional real estate portfolio of   Property and     Private     2001       77,662     10,500   15,750           0      26,250
           investment                                                      15 to 20 property assets.                          tourism




Romania    Direct         Municipal and Environmental   Arad               Upgrade and extension of waste-water treatment Municipal and        State       2001       20,150      4,500        0           0       4,500
           investment     Loan Facility                                    plants.                                        environmental
                                                                                                                          infrastructure


Romania    Direct         Power sector operational      Termoeletrica      Upgrade of five CHP generation plants and          Power and        State       1995       30,732     30,732        0           0      30,732
           investment     efficiency improvement                           transmission networks and installation of          energy
                                                                           metering equipment.


Romania    Direct         Municipal and Environmental   Brasov             Upgrade and extension of waste-water treatment Municipal and        State       2002       58,700     14,500        0           0      14,500
           investment     Loan Facility                                    plants.                                        environmental
                                                                                                                          infrastructure


Romania    Direct         Apa Nova water treatment      -                  Completion of water treatment plant in             Municipal and    Private     2002      165,099     65,357        0           0      65,357
           investment     plant                                            Bucharest.                                         environmental
                                                                                                                              infrastructure


Romania    Direct         Michelin Romania              -                  Modernisation, production upgrade, technology      Manufacturing    Private     2001       65,772     20,693        0           0      20,693
           investment                                                      transfer and increase of output at tyre            and services
                                                                           manufacturer.


Romania    Direct         Power sector operational      Transeletrica      Upgrade of five CHP generation plants and          Power and        State       1995       67,480     26,790        0           0      26,790
           investment     efficiency improvement                           transmission networks and installation of          energy
                                                                           metering equipment.




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                   Sub project           Description                                      Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Romania    Direct         EU/EBRD SME Finance            Alpha Bank Romania    Financing for small and medium-sized             Bank lending     Private     2001      10,000      10,000        0           0      10,000
           investment     Facility                                             enterprises.




Romania    Regional       Efes – EBI                     -                     Financing for Efes breweries.                    Agribusiness     Private     2002       2,568        819         0           0         819
           investment




Romania    Direct         EU/EBRD SME Finance            Banca Transilvania    Financing for small and medium-sized             Bank lending     Private     2002       4,297       4,297        0           0       4,297
           investment     Facility                                             enterprises.




Romania    Regional       Black Sea Fund                 -                     Equity investment in medium-sized local          Equity funds     Private     2002       8,274          0     2,518           0       2,518
           investment                                                          enterprises and facilitation of foreign direct
                                                                               investment in the region.


Romania    Direct         Bucharest multi-sector project -                     Improvement of transport and district heating    Municipal and    State       2003      27,500      16,250        0           0      16,250
           investment                                                          services and renovation of infrastructure in     environmental
                                                                               Bucharest's historic zone.                       infrastructure


Romania    Direct         Domenia Credit                 -                     Establishment of mortgage company.               Insurance and    Private     2003      21,393       4,493    6,739           0      11,232
           investment                                                                                                           financial
                                                                                                                                services


Romania    Regional       Billa                          -                     Expansion of supermarket chain.                  Agribusiness     Private     2003      62,895       7,875        0           0       7,875
           investment




Romania    Direct         EU/EBRD SME Finance            Volksbank Romania     Financing for small and medium-sized             Bank lending     Private     2002      10,000      10,000        0           0      10,000
           investment     Facility                                             enterprises.




Romania    Direct         EU/EBRD SME Finance            Bank Post Romania     Financing for small and medium-sized             Bank lending     Private     2002      10,000       3,857        0           0       3,857
           investment     Facility                                             enterprises.




Romania    Direct         EU/EBRD SME Finance            RZB Leasing Romania   Financing for small and medium-sized             Insurance and    Private     2003       5,000       1,700        0           0       1,700
           investment     Facility                                             enterprises.                                     financial
                                                                                                                                services




  All investments 1991- 2009
                                                                                                                                                                                  fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project               Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Romania    Direct         Municipal and Environmental   Oradea                    Upgrade of waste-water treatment plants in          Municipal and    State       2004       19,365      2,665        0           0       2,665
           investment     Loan Facility                                           Oradea.                                             environmental
                                                                                                                                      infrastructure


Romania    Direct         EU/EBRD SME Finance           Raiffeisen Bank Romania   Financing for small and medium-sized                Bank lending     Private     2002       15,000      6,917        0           0       6,917
           investment     Facility                                                enterprises.




Romania    Direct         EU/EBRD SME Finance           Alpha Leasing             Credit lines to Alpha Leasing for on-lending to     Insurance and    Private     2004        5,000      5,000        0           0       5,000
           investment     Facility                                                small and medium-sized businesses.                  financial
                                                                                                                                      services


Romania    Regional       Heitman Central Europe        -                         Investment in property projects, primarily office   Property and     Private     2002        6,469         0     2,100           0       2,100
           investment     Property Partners Fund                                  buildings, warehousing/distribution and retail      tourism
                                                                                  shopping centres.


Romania    Direct         Mobifon Romania GSM           -                         Deployment and operation of national GSM            Telecoms,       Private      2002      209,619     57,043        0           0      57,043
           investment                                                             network.                                            informatics and
                                                                                                                                      media


Romania    Direct         Romanian Industrial Energy    -                         Investments in on-site cogeneration systems to      Manufacturing    Private     2003        7,128      3,128        0           0       3,128
           investment     Efficiency Fund                                         reduce energy consumption.                          and services




Romania    Direct         LNM Holdings                  -                         Privatisation and restructuring of Romanian steel Manufacturing      Private     2002       69,353     29,128        0           0      29,128
           investment                                                             plant.                                            and services




Romania    Direct         Regional operating company – -                          Laying the foundations for a regional water         Municipal and    State       2005       39,000      7,200        0           0       7,200
           investment     Apa Soames                                              operator to promote sustainability.                 environmental
                                                                                                                                      infrastructure


Romania    Direct         Banca Comerciala Romana       -                         Credit line providing long-term mortgage loans.     Bank lending     Private     2003       38,953     38,953        0           0      38,953
           investment




Romania    Regional       Orco Aparthotels              -                         Expansion of extended-stay hotel chain.             Property and     Private     2003       17,725         0     1,263         632       1,895
           investment                                                                                                                 tourism




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                  Sub project          Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Romania    Direct         Banca Comerciala Romana       -                    Pre-privatisation equity investment, supporting   Bank equity      Private     2003      174,766         0    97,785           0      97,785
           investment                                                        financial sector reform.




Romania    Direct         Municipal and Environmental   Targu Mures          Upgrade and extension of waste-water treatment Municipal and       State       2003       27,900      7,000        0           0       7,000
           investment     Loan Facility                                      plants.                                        environmental
                                                                                                                            infrastructure


Romania    Direct         EU/EBRD SME Finance           Banca Comerciala     Financing for small and medium-sized              Bank lending     Private     2002       20,000     20,000        0           0      20,000
           investment     Facility                      Romana               enterprises.




Romania    Regional       Carmeuse Eastern Europe       -                    Expansion of lime producer’s operations in        Manufacturing    Private     2004       67,320         0     7,864           0       7,864
           investment                                                        Romania.                                          and services




Romania    Direct         EU/EBRD SME Finance           BRD Sogelease        Financing for small and medium-sized              Insurance and    Private     2003       10,000     10,000        0           0      10,000
           investment     Facility                                           enterprises.                                      financial
                                                                                                                               services


Romania    Regional       EU/EBRD SME Finance           Global Growth Fund   Financing for small and medium-sized              Equity funds     Private     2003       10,375         0     3,250           0       3,250
           investment     Facility                                           enterprises.




Romania    Direct         Wienerberger                  -                    Construction of brick factory.                    Manufacturing    Private     2003       18,000      2,000        0           0       2,000
           investment                                                                                                          and services




Romania    Direct         Municipal and Environmental   Sibiu                Upgrade of waste-water treatment plants in        Municipal and    State       2004       37,588      5,000        0           0       5,000
           investment     Loan Facility                                      Sibiu.                                            environmental
                                                                                                                               infrastructure


Romania    Direct         Banc Post mortgage loan       -                    Credit line providing long-term mortgage loans.   Bank lending     Private     2003       17,158     17,158        0           0      17,158
           investment




Romania    Direct         US/EBRD SME Finance           ProCredit Romania    Financing for micro and small enterprises.        Small business Private       2003        3,247         0       670           0         670
           investment     Facility                                                                                             finance




  All investments 1991- 2009
                                                                                                                                                                     fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                   Sub project   Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                     Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                  value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                (€ 000)
Romania    Direct         Banca Transilvania             -             Credit line to assist small and medium-sized      Bank lending     Private     2003        4,544      4,544        0           0       4,544
           investment                                                  enterprises.




Romania    Direct         Terapia SA                     -             Equity investment in Romanian pharmaceutical      Manufacturing    Private     2003       33,199         0     4,418           0       4,418
           investment                                                  company.                                          and services




Romania    Regional       Raiffeisen International       -             Equity investment supporting growth of            Bank equity      Private     2004       30,000         0    15,000           0      15,000
           investment                                                  Raiffeisen International's business in Bosnia and
                                                                       Herzegovina.


Romania    Regional       Private Equity Fund Facility   Trigranit     Equity investment in leading commercial property Property and      Private     2004        4,520         0        80           0          80
           investment                                                  developer and operator.                          tourism




Romania    Direct         Astral Telecom                 -             Expansion and modernisation of cable television Telecoms,       Private        2003       29,291      4,855        0           0       4,855
           investment                                                  network.                                        informatics and
                                                                                                                       media


Romania    Direct         Transelectrica                 -             Construction of overhead transmission line        Power and        State       2004       24,823     11,550        0           0      11,550
           investment                                                  between Romania and Hungary.                      energy




Romania    Direct         Constanta by-pass project      -             Building and maintenance of the Constanta by-     Transport        State       2005      204,190    136,940        0           0     136,940
           investment                                                  pass.




Romania    Direct         Municipal and Environmental    Timisoara     Upgrade and extension of waste-water treatment Municipal and       State       2003        6,366      3,603        0           0       3,603
           investment     Loan Facility                                plants.                                        environmental
                                                                                                                      infrastructure


Romania    Direct         Municipal and Environmental    Bacau         Upgrade of waste-water treatment plants in        Municipal and    State       2004       52,500      7,000        0           0       7,000
           investment     Loan Facility                                Bacau.                                            environmental
                                                                                                                         infrastructure


Romania    Direct         HVB Bank Romania               -             Credit line providing long-term mortgage loans.   Bank lending     Private     2004       10,000     10,000        0           0      10,000
           investment




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                   Sub project          Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                            Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                         value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                       (€ 000)
Romania    Regional       TUI advance payments           -                    Upgrade and expansion of hotels in Romania.       Property and     Private     2003         810        810         0           0         810
           investment                                                                                                           tourism




Romania    Direct         Banca Romaneasca               -                    Equity investment to maintain 10 per cent stake. Bank equity       Private     2005      22,237      22,237        0           0      22,237
           investment




Romania    Direct         Bucharest multi-sector project -                    Improvement of transport and district heating     Municipal and    State       2003      33,915      17,750        0           0      17,750
           investment     (Radet)                                             services and renovation of infrastructure in      environmental
                                                                              Bucharest's historic zone.                        infrastructure


Romania    Direct         Constanta Port                 -                    Construction of new barge terminal.               Transport        State       2004      23,900      16,000        0           0      16,000
           investment




Romania    Direct         EU/EBRD SME Finance            Alpha Bank Romania   Financing for small and medium-sized              Bank lending     Private     2003      10,000      10,000        0           0      10,000
           investment     Facility                                            enterprises.




Romania    Regional       Polish Enterprise Fund V       -                    Private equity fund investing in enterprises in   Equity funds     Private     2004       4,650          0     4,650           0       4,650
           investment                                                         Romania.




Romania    Regional       Advent Central and Eastern     -                    Private equity fund investing in Romania.         Equity funds     Private     2004      49,571          0     7,500           0       7,500
           investment     Europe Successor Fund




Romania    Direct         EU/EBRD SME Finance            BT Leasing           Financing for small and medium-sized              Insurance and    Private     2003       5,000       5,000        0           0       5,000
           investment     Facility                                            enterprises.                                      financial
                                                                                                                                services


Romania    Direct         Banca Transilvania mortgage    -                    Credit line providing long-term mortgage loans.   Bank lending     Private     2003      10,000      10,000        0           0      10,000
           investment     loan




Romania    Direct         Tiriac Bank                    -                    Equity investment and financing for small and     Bank equity      Private     2003      12,159       1,829    1,829           0       3,659
           investment                                                         medium-sized enterprises.




  All investments 1991- 2009
                                                                                                                                                                           fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project         Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                           Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                        value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                      (€ 000)
Romania    Direct         Cora                         -                   Expansion of hypermarket operations.                Agribusiness     Private     2004       50,000     31,768        0           0      31,768
           investment




Romania    Direct         US/EBRD SME Finance          ProCredit Romania   Financing for micro and small enterprises.          Small business Private       2003        7,440      4,900        0           0       4,900
           investment     Facility                                                                                             finance




Romania    Direct         Towers                       -                   Construction, letting and management of retail      Property and     Private     2004       33,900     11,865        0           0      11,865
           investment                                                      and office space.                                   tourism




Romania    Direct         Wienerberger                 -                   Expansion of brick producer.                        Manufacturing    Private     2004        7,600      4,600        0           0       4,600
           investment                                                                                                          and services




Romania    Direct         Bucharest waste-water        -                   Funding for construction of a waste-water           Municipal and    State       2006      108,300     10,000        0           0      10,000
           investment     treatment plant                                  treatment plant for Bucharest.                      environmental
                                                                                                                               infrastructure


Romania    Direct         Distrigaz Sud                -                   Support for the privatisation of gas distribution   Power and        Private     2005      304,322         0    31,041           0      31,041
           investment                                                      company.                                            energy




Romania    Regional       Southeast Europe Equity Fund -                   Equity fund investing in private funds in south-    Equity funds     Private     2005        7,247         0     7,247           0       7,247
           investment     II                                               eastern Europe.




Romania    Direct         SNP Petrom                   -                   Equity investment in oil and gas company.           Natural          Private     2004       55,420         0    55,420           0      55,420
           investment                                                                                                          Resources




Romania    Direct         Kronospan                    Sebes               Acquisition of medium density fibreboard (MDF)      Manufacturing    Private     2004      185,000     36,296        0           0      36,296
           investment                                                      and resin plant.                                    and services




Romania    Direct         Stirom                       -                   Refurbishment of Stirom glassworks                  Agribusiness     Private     2005       17,200     10,000        0           0      10,000
           investment




  All investments 1991- 2009
                                                                                                                                                                                 fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                    Sub project               Description                                       Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                                  Class       signing   project loan    (€    equity   guarantee    finance
                                                                                                                                                                               value       000)   (€ 000)      (€ 000)    (€ 000)
                                                                                                                                                                             (€ 000)
Romania    Direct         EBRD/EIF SME Guarantee          Raiffeisen Bank Romania   Credit line for on-lending to small and medium-   Bank lending     Private     2004       6,000       1,750        0           0       1,750
           investment     Facility                                                  sized businesses.




Romania    Regional       Europolis II                    -                         Development of commercial property projects.      Property and     Private     2004      34,325       3,247    4,330           0       7,577
           investment                                                                                                                 tourism




Romania    Direct         EU/EBRD SME Finance             BCR Leasing               Credit lines to BCR Leasing for on-lending to     Insurance and    Private     2004      10,000      10,000        0           0      10,000
           investment     Facility                                                  small and medium-sized businesses.                financial
                                                                                                                                      services


Romania    Direct         Iasi district heating project   -                         Upgrading of municipal district heating           Municipal and    State       2005      30,856      12,646        0           0      12,646
           investment                                                               distribution.                                     environmental
                                                                                                                                      infrastructure


Romania    Direct         Banca Transilvania              -                         Subscription of newly issued shares in Banca      Bank equity      Private     2004       1,255          0     1,255           0       1,255
           investment                                                               Transilvania.




Romania    Direct         Soufflet Malt Romania           -                         Improvement barley production and collection      Agribusiness     Private     2004      11,500       3,500        0           0       3,500
           investment                                                               techniques.




Romania    Direct         Kronospan                       Sepal                     Acquisition of particleboard plant.               Manufacturing    Private     2004      65,000      33,704        0           0      33,704
           investment                                                                                                                 and services




Romania    Direct         Banca Post                      -                         Credit line providing long-term mortgage loans.   Bank lending     Private     2004      20,000      20,000        0           0      20,000
           investment




Romania    Direct         Banca Transilvania syndicated -                           Expansion of lending operations to small and      Bank lending     Private     2004      22,500       7,500        0           0       7,500
           investment     loan                                                      medium-sized corporate and retail businesses.




Romania    Direct         Eurex Alimentare                -                         Expansion of biscuit manufacturer.                Agribusiness     Private     2004      13,454       4,508        0           0       4,508
           investment




  All investments 1991- 2009
                                                                                                                                                                          fedef728-2de5-46e3-ac9b-29dc6a9a9ef8.xls

  All investments 1991- 2009



Country    Type of        Project name                 Sub project        Description                                         Sector           Portfolio   Year of     Total      EBRD     EBRD         EBRD Total EBRD
           investment                                                                                                                          Class       signing   project loan    (€    equity   guarantee    finance