FINANCE FOR IMPACT conducted an assessment of finance gaps in new “frontier” countries for which EBRD is launching investment operations (Southern Mediterranean countries). We studied constraints and opportunities for EBRD to provide financial services and trade facilitation support. We carried out in-depth field work and surveys in Egypt, Jordan, Morocco and Tunisia. In addition, the study assessed the potential offered by the financing of transit trade to alleviate the pain and suffering of the displaced populations in the region, e.g. in Iraq, Jordan and Libya.