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ETC initiative

The ETC initiative helps seven of EBRD ’s poorest countries of operations – Armenia, Azerbaidjan, Georgia, the Kyrgyz Republic, Moldova, Tajikistan and Uzbekistan. The multi-donor ETC Fund, an important part of the initiative, has become the main vehicle for delivering technical expertise. 

The ETC Fund was established in November 2004 with pledges of EURO 14.8 million from Finland, Ireland, Japan, the Netherlands, Switzerland, Taipei China and the United Kingdom . Canada, Luxembourg, Norway, Spain and Sweden have since joined the Fund and pledges have more than doubled to reach EURO 32.1 million by the end of 2005. 

During 2006 Japan and the Netherlands are acting as chair and vice chair of the Fund’s Assembly of Contributors. At the donor meeting in February, pledges increased further to EURO 37.1 million following additional contributions from Canada, Ireland, Spain and Sweden.