The European Bank for Reconstruction and Development (EBRD) has opened a permanent office in Tunisia, the first permanent office of the bank in the southern and eastern Mediterranean region. 

“The opening of the office in Tunisia will play a key role in accelerating the bank’s activities and contributing to new investments there,” read a press release by EBRD issued on Wednesday.

According to the press release, the bank will focus on supporting energy efficiency and the development of a sustainable energy sector, in order to improve energy security, sustainability and economic competitiveness.

“The bank will also facilitate non-sovereign financing for infrastructure development in order to provide wider access to better quality and more efficient public services,” the statement added.

The EBRD has already invested in three projects in Tunisia.

The EBRD expects to be able to invest up to 2.5 billion euros by 2015 across the southern and eastern Mediterranean region, which in addition to Tunisia comprises Egypt, Jordan and Morocco.