Wellspring carried out an evaluation of the effectiveness of the European Bank for Reconstruction and Development’s (EBRD) agribusiness strategy and EUR 2.7 billion portfolio of agribusiness investments alongside the Bank’s Evaluation Department. This included conducting an in-depth analysis of a sample of EBRD agribusiness investments during the strategy period (2019-22), assessed their consistency with the strategy’s key pillars (e.g. improving competitiveness, value chain integration and backward linkages, and driving sustainability and reduced emissions) and outcomes and impacts achieved. This involved the team conducting site visits to agribusinesses in Tunisia, Egypt, Turkey, Kyrgyzstan, and Lithuania, as well as desk-based reviews of Ukrainian projects.
In addition to project level evaluations, our team assessed the extent to which Technical Advisory projects funded by the bank alongside investments have fostered innovation (e.g. through integrating new technologies and agronomic approaches into commercial business models) and inclusiveness across value chains. Our assessment informed EBRD’s board on the performance and impact of the Bank’s 2019-2023 sector strategy and agribusiness project portfolio, as well as provided key recommendations around areas of focus and new instruments (e.g. risk sharing frameworks) which could be utilized in the next strategy.