After a couple of slow years for project signatures (see chart, below), the European Bank for Reconstruction and Development (EBRD) is now working on a significant pipeline of PPP projects in the water sector, the Bank's municipal infrastructure team told GWI this month. Following the success of the country's first international wastewater PPP at the end of last year (see GWI January 2022, p30), Uzbekistan is poised for more private finance to get involved, Katya Miroshnik, head of infrastructure Eurasia, told GWI. "A wastewater treatment project in [the capital] Tashkent appears likely," she said, adding that more should also be signed within the next two years. This could well help Uzbekistan keep its place as the top recipient of EBRD water lending (see chart, right). The years to 2024 should also see opportunities materialise in Turkey and North Africa, said Sue Barrett, head of infrastructure TMEA (Turkey, Middle East, Africa). "A lot of countries in the region have suffered from lower tariff revenue during the COVID period. In some countries, like Turkey, utilities are affected by high inflation, which the war in Ukraine is making even worse. That is why many are looking to bring the private sector in. It is the right thing to do, but takes a bit longer." The bank was quick to react to the invasion of Ukraine, one of the bank's original countries of operation, by pledging a €2 billion "resilience package" to help the country as well as its neighbours. "This includes payment deferrals for existing clients, as well as debt forbearance, but we also think the bank can play a huge role in providing emergency liquidity," said Susan Goerans-son, head of infrastructure Europe.
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