• Bank’s shareholders have granted recipient country status to Benin, Côte d’Ivoire, and Nigeria
• Ghana, Kenya, and Senegal are undergoing the membership process
• Iraq is in the process of becoming a country of operation

The shareholders of the European Bank for Reconstruction and Development (EBRD) have granted recipient country status to Benin, Côte d’Ivoire, and Nigeria. This will come into effect once the required amendment to the Bank’s founding treaty comes into force in July 2025. The Bank will launch its investments in the three countries shortly thereafter.

The EBRD will bring its distinct private-sector focused, locally based business model to unlock access to finance, promote local businesses and foster sustainable and long-term growth, contributing to the transformation of these three economies.

Ghana, Kenya, and Senegal are undergoing the membership process and, once finalised, will begin proceedings to become countries of operation.

Iraq became a shareholder of the Bank in April 2024 and is in the process of becoming a country of operation.

EBRD President Odile Renaud-Basso said: “We are delighted to welcome Benin, Côte d’Ivoire, and Nigeria today as countries of operations. We are looking forward to launching our activities there swiftly and establishing official representations in these countries. The EBRD will leverage its financial resources and expertise to boost the countries’ economies and provide new opportunities to their people, complementing the work of existing development partners.”

At the EBRD’s 2023 Annual Meeting in Samarkand, the Board of Governors approved amendments to Article 1 of the Agreement Establishing the EBRD, enabling a limited and incremental expansion of its operations to sub-Saharan Africa and Iraq. The required threshold of shareholder acceptance was met in April 2025 with the amendment entering into force three months later (in July 2025).

The EBRD now has 75 national shareholders in addition to the European Union and the European Investment Bank. 

The EBRD supports countries in transition, using a combination of investment, advisory work and policy reform. It focuses on developing the private sector and bringing sustainable change, leaving an enduring legacy for a better future.

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• EBRD’s Board of Governors approves Strategic and Capital Framework for 2026-2030 
• Supporting Ukraine during wartime and reconstruction remains the Bank’s central objective 
• Bank to increase size, scope, and impact  

The Board of Governors of the European Bank for Reconstruction and Development (EBRD) today approved the Bank’s Strategic and Capital Framework (SCF) for the next five years.  

The Board, which has overall authority over the Bank, voted to approve its strategic direction during its 34^th Annual Meeting and Business Forum, held in London.  

The SCF for 2026-2030 raises the Bank’s ambitions to deliver for its countries, clients, and partners through its investments, chiefly in the private sector, and policy reform initiatives. 

Its central strategic objective is the continuation of the Bank’s exceptional support for Ukraine during wartime and reconstruction.  

Governors agreed at the end of 2023 to increase the Bank’s paid-in capital by €4 billion to provide significant and sustained investment for Ukraine and help support the EBRD’s priorities wherever it operates.  

The Bank has deployed more than €7 billion in Ukraine since the full-scale Russian invasion in 2022, and the new capital will have a multiplier effect which will further increase available investment.  

During the new SCF’s five-year period and without reducing its existing commitments, the Bank will also become fully operational in new countries in sub-Saharan Africa and Iraq. 

Its ambition is to expand significantly its size, scope and impact thanks to its enhanced financial strength and greater geographical reach. 

EBRD President Odile Renaud-Basso said: “I am very pleased that the EBRD’s shareholders have approved our strategic aspirations for the next five years. 

This demonstrates their continued confidence in our approach and the relevance of our business model and its emphasis on the private sector.  

The Bank enters the next SCF period from a position of strength. This enables us to be even more ambitious for the impact and delivery we strive to achieve, not least in supporting Ukraine, which will continue to be our top priority.” 

The new SCF identifies three core themes for its activities: 

1. Accelerating the green transition 
2. Advancing economic governance
3. Promoting human capital and equality of opportunity for all 

It also aims to maximise the Bank’s impact through two strategic enablers: 

1. Developing and deploying digital technology. 
2. Mobilising more private capital. 

Each of the themes and enablers reflects areas where the scale of the challenges is large, the shared interest of the Bank’s shareholders is strong, and its capacity to add value is substantial.

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• EBRD’s 2025 Annual Meeting and Business Forum opens in London
• UK Chancellor of the Exchequer Rachel Reeves also addresses the Governors
• The president welcomes new shareholders from Africa and Iraq

LONDON: The European Bank for Reconstruction and Development (EBRD) and its focus on the private sector can help the countries where it works build resilience and enhance competitiveness amid global uncertainty, its President said today.

The world faces new economic shocks in the form of trade friction, geopolitical tensions, and volatile markets, Odile Renaud-Basso told the Bank’s 2025 Annual Meeting and Business Forum in London.

The President evoked the Bank’s core values, as identified when the EBRD was established back in the same city in 1991, saying that they were the source of its many strengths.

“Market economies, underpinned by democracy, offer the surest path to growth and prosperity,” she explained.

“That’s why we focus on promoting the private sector, mobilising investment and promoting policy reform.”

“Experience shows that we perform at our best in times of crisis,” she added. “The world needs institutions, such as ours, which bring countries and competing perspectives together.”

Support for Ukraine, where the Bank is the largest institutional investor and has deployed more than €7 billion since the start of Russia’s full-scale war against the country, would continue to be the EBRD’s central strategic objective, Ms Renaud-Basso said.

In her speech to the Board of Governors, Rachel Reeves, the UK Chancellor of the Exchequer, praised the EBRD for standing “in defence of freedom and democracy […] as the largest single institutional investor in Ukraine”.

“A lasting prosperity in Europe demands a just and lasting peace in Ukraine,” the Chancellor said. “And that means committing to a strong and enduring reconstruction and recovery effort.”

This year’s Annual Meeting will see the EBRD’s Governors take several landmark decisions, including approval of the Bank’s new Strategic and Capital Framework, which will set out its strategic direction for the next five years.

They will also be asked to approve EBRD country of operation status for Benin, Côte d’Ivoire, and Nigeria, marking the beginning of the Bank’s move into sub-Saharan Africa.

Ms Renaud-Basso welcomed the EBRD’s new shareholders from Africa and Iraq, saying that the Bank was “on the cusp of momentous change”.

Besides Ukraine, she identified the Bank’s future priorities as supporting the green transition, strengthening economic governance, and enhancing human capital, as well as increasing its impact through digital technology and mobilising more private capital.

The EBRD was set up at the end of the Cold War in Europe to build open, market economies and foster private entrepreneurial initiative.

The Bank delivered a record €16.6 billion of investment to its economies of operation in 2024, with more being invested in the private sector, the green economy, and human capital than ever before.

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• EBRD provides €195 million to earthquake-hit cities in Türkiye
• Financing to cover water system projects in Adiyaman and Hatay
• EBRD is a key investor for the region and its recovery 

TURKIYE: The European Bank for Reconstruction and Development (EBRD) is providing €195 million to two key infrastructure projects in Türkiye’s earthquake-hit cities of Adiyaman and Hatay.   

Of the total EBRD financing, €95 million will cover the construction of wastewater and stormwater networks and facilities in Adiyaman. The other €100 million will be directed towards the construction of the Arsuz sewerage network and the Ucgulluk wastewater treatment plant in Hatay.

The loan will be provided to Türkiye through the Ministry of Treasury and Finance, for the benefit of Adiyaman Municipality and Hatay Water and Sewerage Administration, respectively.

İller Bankasi, the authorised body responsible for disbursing all critical municipal infrastructure financing provided by international financial institutions in the affected region, will act as the implementation agency for Adiyaman Municipality and will provide supervision and oversight services to Hatay Water and Sewerage Administration.

Both cities were severely affected by the 2023 earthquakes that hit the region, causing widespread damage and tens of thousands of fatalities.

In the weeks following the earthquake, the EBRD announced a €1.5 billion investment package to support the recovery and reconstruction of the region. Sustainable infrastructure is one of the Bank’s priorities in the area.

Key projects in the region supported by the EBRD include private-sector investments, supply chain enhancements, grants for small and medium-sized enterprises, credit lines, and critical infrastructure initiatives, such as financing the construction of a drinking water treatment plant in Gaziantep.

Elisabetta Falcetti, EBRD Managing Director for Türkiye, said: “The EBRD has already made available €1.3 billion in support of Türkiye’s earthquake-hit region. Investing in water and wastewater systems in these cities is a vital step towards restoring the dignity, health, and daily life of communities that have endured so much.

These projects are more than infrastructure – they are a signal of the EBRD’s enduring commitment to the region’s recovery and future prosperity, grounded in sustainable and inclusive growth.”

Both financings were announced during the Bank’s 2025 Annual Meeting and Business Forum, taking place in London. The event serves as a high-level platform for engagement with the Bank’s shareholders, donors, business leaders, and civil society.

The EBRD is among Türkiye’s key investors, with more than €22 billion committed through 482 projects and trade finance limits since 2009, most of which is in the private sector.

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• EBRD lending up to €10 million to the city of Lviv to tackle the impact of war
• Emergency liquidity to help ensure that essential public services continue functioning
• The bank is also providing technical support to the Lviv Veterans Centre

UKRAINE: The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to €10 million to the city of Lviv in western Ukraine to help ensure the provision of vital municipal services and mitigate the effects of the ongoing war.

The European Union (EU) is supporting the EBRD’s loan by providing 25 per cent first loss risk cover under its Municipal, Infrastructure and Industrial Resilience Programme (which was established as part of its Ukraine Investment Framework) to address war-related risks. That programme focuses on emergency support and future reconstruction efforts across various sectors (including industry, energy, and municipal infrastructure) and will see the EU provide a total of €150 million in guarantees, €25 million in investment grants, and €7.5 million in technical assistance via the EBRD.

Lviv is the seventh largest city in Ukraine and the largest in the west of the country. A total of 758,000 people live in the city itself, with around 1 million living in the wider Lviv agglomeration. This number has increased recently, since Lviv is a natural destination for internally displaced people on account of its location and its role as a major educational and economic centre.

Due to the ongoing war and its impact on the local economy, forced displacement, and labour market instability, there is a significant risk of disruption to infrastructure services. This could affect the provision of infrastructure necessary for Lviv’s economic stability and the city’s private-sector operations.

The EBRD’s loan will provide liquidity to key municipal operators such as transport company Lvivelectrotrans, waste management operator Zelene Misto, and water operator Lvivvodokanal. The emergency funds will support those municipal operators by helping to address their critical liquidity needs, helping to ensure the uninterrupted provision of essential public services.

The EBRD will also provide technical support through its ongoing Human Capital Response for Ukraine programme in order to address the capacity-building needs of the Lviv Veterans Centre, which provides legal, educational, and administrative services in cooperation with local partners. The Bank will help the city to enhance the services and support that it provides to its veterans and their families.

The EBRD is Ukraine’s largest institutional lender. It has significantly increased its lending to the country in recent years, making more than €7 billion available since February 2022. It has also secured agreement from its shareholders for a capital increase of €4 billion to continue lending at this level in wartime and increase its financing further when the time comes for reconstruction.

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• Growth in the EBRD regions is projected to slow, standing at 3.0 per cent in 2025
• Tariff hikes and global policy uncertainty dampen trade and stress supply chains
• Inflation picks up again, driven by strong domestic demand and loose fiscal policy

The European Bank for Reconstruction and Development (EBRD) has lowered its regional economic forecast for 2025 by 0.2 percentage points relative to its February 2025 projections. According to the Bank’s Regional Economic Prospects report, economies in which the EBRD invests are now projected to grow by an average of 3.0 per cent this year, with a modest recovery to 3.4 per cent expected in 2026.

This downward revision follows a similar 0.3 percentage point cut in February and reflects a confluence of global headwinds, as captured in the title of the new report, “Uncertain times”.

These include a sharp rise in trade and economic policy uncertainty, weaker external demand, and the direct and indirect effects of newly announced import tariff increases. As a result, most economies across the EBRD regions have seen their 2025 growth projections trimmed, with the largest downward revisions recorded in the Western Balkans, central Europe, and the Baltic states.

“Although understanding the full macroeconomic effects of the newly announced tariffs will take time, it is already clear that our regions have entered a period of heightened uncertainty and slower growth,” explained Beata Javorcik, the EBRD’s Chief Economist. “Reducing trade tensions through constructive dialogue and achieving consensus on trade policy among key stakeholders are crucial, as prolonged uncertainty carries painful economic costs.”

Ukraine’s growth forecast for this year has been revised downwards by 0.2 percentage points to 3.3 per cent, due to weaker European Union (EU) demand and continued damage to energy infrastructure from Russian attacks.

The United States of America’s recent round of tariff increases (up to mid-April) – including 25 per cent tariffs on steel, aluminium and cars, and a 10 per cent rise in blanket tariffs across broader categories – is expected to have significant global repercussions, including for the EBRD regions. The analysis indicates that the average effective US tariff on imports from the Bank’s regions is estimated to surge from 1.8 per cent in 2024 to 10.5 per cent, assuming unchanged composition of exports.

Among the EBRD economies, the Slovak Republic is expected to take the largest direct gross domestic product (GDP) hit from US tariff increases (0.8 per cent), followed by Jordan (0.6 per cent) and Hungary (0.4 per cent). In the Slovak Republic and Hungary, tariffs on cars alone account for a substantial share of the output losses – 83 per cent and 41 per cent, respectively.

Beyond direct effects, the report warns of broader risks to global supply chains. Even economies with limited direct exposure to the US market could be affected, as heightened trade policy uncertainty disrupts supply networks. While China’s trade role in the EBRD regions is growing, especially as a source of imports, Germany remains the top export destination for many EBRD economies, and Europe’s economic performance still heavily shapes the Bank’s regional outlook.

At the same time, the impact of higher US tariffs could be partially offset by trade diversion, with economies that are facing lower tariff rates than their competitors – particularly China – potentially gaining market share in the US.

Inflation in the EBRD regions is showing a concerning reversal, according to the report. After peaking at 17.5 per cent in late 2022 and falling to 5.3 per cent in September 2024, average inflation accelerated again to 6.1 per cent as of February 2025. Inflationary pressures are now predominantly demand-driven, reflecting loose fiscal policies and strong nominal wage growth.

Despite mounting fiscal pressures, average debt in the EBRD regions is expected to remain broadly stable at around 52 per cent of GDP over the next four years. However, this stability assumes governments will implement stringent fiscal measures, including cuts in some areas of expenditure amid expected higher spending on defence, industrial policies and interest payments.

The report also warns that growing reliance on bond issuances in the EBRD regions, at the expense of concessional borrowing, leaves lower-income economies more vulnerable to market volatility and policy uncertainty.

Heightened geopolitical tensions have led many EBRD economies to ramp up their defence spending. Between 2014 and 2023, defence expenditure across the Bank’s regions nearly doubled – from 1.8 per cent of GDP to around 3.5 per cent. The report notes that the regions’ arms exports have risen from 0.05 per cent of GDP in 2019 to 0.09 per cent in 2024, with Bosnia and Herzegovina, the Slovak Republic, Czechia and Poland now registering the highest export levels. 

The report examines how increased defence spending, coupled with domestic sourcing, could significantly boost output. The analysis finds that growing demand for defence-related products could raise GDP in the Slovak Republic, Greece, Croatia and Hungary by 1.0 to 1.5 per cent.

Regional growth projections

Growth in central Europe and the Baltic states is projected at 2.4 per cent in 2025 and 2.7 per cent in 2026. Both figures have been revised downwards from earlier forecasts due to the impact of new tariffs, weaker external demand – particularly from Germany – and increased global policy uncertainty.

In the south-eastern EU economies, following sluggish growth of 1.6 per cent in 2024, a modest recovery to 2.0 per cent is expected in 2025 – lower than previously forecast – before growth picks up to 2.4 per cent in 2026. The outlook for Bulgaria is slightly more upbeat owing to resilient domestic demand.

Growth in the Western Balkans is forecast to slow from 3.6 per cent in 2024 to 3.2 per cent in 2025, then tick up to 3.4 per cent in 2026. Political instability in Serbia and spillovers from slower growth in advanced European economies are weighing on the region’s outlook.

Central Asia is expected to see growth moderate slightly from 5.6 per cent in 2024 to 5.5 per cent in 2025 and 5.2 per cent in 2026. Lower commodity prices have prompted downward revisions for Kazakhstan and Mongolia.

In eastern Europe and the Caucasus, growth is expected to continue to ease to 3.5 per cent in 2025 before rebounding to 4.3 per cent in 2026. The economic outlook for Moldova and Ukraine has been revised downwards, reflecting weaker EU demand and continued damage to Ukraine’s energy infrastructure.

Growth in Türkiye slowed to 3.2 per cent in 2024 amid tighter monetary policy. It is expected to decelerate further to 2.8 per cent in 2025 before rising to 3.5 per cent in 2026. The 2025 forecast was cut due to tighter-than-expected monetary policy and lower domestic and external demand.

The southern and eastern Mediterranean region is expected to see growth pick up to 3.6 per cent in 2025 and 3.9 per cent in 2026. However, these projections have been revised downwards relative to the February 2025 outlook, reflecting ongoing conflicts and high global policy uncertainty.

Source: Eurostat for EU economies, national authorities, and the EBRD.
Note: Weights are based on the values of GDP in 2022 at market exchange rates. The table also includes forecasts for Belarus and Russia, notwithstanding the fact that Belarus and Russia have had their access to Bank resources suspended under Article 8.3 of the Agreement Establishing the EBRD.

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• EBRD holds its 34th Annual Meeting and Business Forum in London 
• Bank’s new London HQ hosts the event for the first time 
• Shareholders to approve the Bank’s next five-year strategy and new countries of operations  

LONDON: The European Bank for Reconstruction and Development (EBRD) will be hosting its 34th Annual Meeting and Business Forum in London next week under the banner of “Expanding Horizons, Enduring Strengths”. 

Usually held across the EBRD regions, this year’s event marks the Annual Meeting’s return to its host city for the first time since 2016 and its debut in the Bank’s new Canary Wharf headquarters. 

The event, which takes place between 13-15 May, will assemble the Bank’s shareholders, partners, and clients, including government officials, financial and corporate executives, entrepreneurs, civil society, and media from across its regions. 

The Bank was set up in 1991, with London as its home, to build open market economies and promote private enterprise, and with sustainable development as one of its core values. Almost 80 per cent of its investments have been in the private sector. 

It has also moved into new countries neighbouring its existing regions on several occasions.  

This year’s meeting will see the EBRD’s Governors take several milestone decisions. At their plenary session on Thursday, 15 May, they will be asked to approve the Bank’s next Strategic and Capital Framework, setting out its strategic direction for the next five years.  

They will also be asked to approve EBRD country of operations status for Benin, Côte d’Ivoire, and Nigeria, marking the beginning of the Bank’s move into sub-Saharan Africa. 

The Board of Governors’ opening session for the event will take place at Westminster Central Hall on Wednesday, 14 May. The Chair of the Board of Governors, Slovenia’s Klemen Boštjančič, and EBRD President Odile Renaud-Basso will deliver speeches at the session.    

As well as the Annual Meeting’s institutional business, the Business Forum will hold multiple events over the three days, featuring high-profile guest speakers.  

These include a high-level event on Ukraine and a wide range of panels on the role of international financial institutions in a changing world, capital mobilisation, industrial policy, water security, and Africa’s potential in critical raw materials, among many others. Several countries where the EBRD works will also be holding investment outlook sessions. 

A central focus of the discussions will be our continuous support to Ukraine through wartime and subsequently, its recovery and reconstruction. The EBRD has deployed €7 billion in Ukraine’s real economy (€2.4 billion of it in the energy sector) since the start of Russia’s full-scale invasion in 2022, and is ready to do even more to support its future reconstruction. 

On Tuesday, 13 May, the Bank will also release its Regional Economic Prospects report, announcing its latest growth forecasts for its regions.  

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• New EBRD funding and support for Ukraine announced at the Ukraine Recovery Conference in Berlin
• The bank also mobilizes more than €600 million of de-risking, risk-sharing tools
• Commitments bring the total EBRD financing deployed in wartime Ukraine to €4.5 billion

BERLIN: The European Bank for Reconstruction and Development (EBRD) is extending its support for Ukraine with new funding commitments. At the Ukraine Recovery Conference (URC) in Berlin on 11-12 June, the Bank signed multiple financing and pre-financing agreements, which brought the total EBRD financing deployed in wartime Ukraine to €4.5 billion.

The Bank has also mobilized new de-risking and risk-sharing tools from the European Union and other development organizations for over €600 million.

The EBRD, Ukraine’s largest institutional investor, has significantly increased its finance to Ukraine since Russia launched its full-scale war there, and aims to continue investing between €1.5 to 2 billion in the country annually.  

EBRD shareholders have recently agreed to provide a €4 billion paid-in capital increase to enable the Bank to continue investing at these levels in wartime, with the potential for more investments when reconstruction starts.

Ukraine is now a candidate for European Union accession. But the Berlin conference comes amid weeks of Russian air attacks on the country’s energy facilities. These have damaged or destroyed more than half of the national energy generation capacity and raised questions about how Ukraine will provide many of its citizens with light and heating this winter.

While visiting Kyiv last week, EBRD President Odile Renaud-Basso and Ukrainian Prime Minister Denys Shmyhal signed a Memorandum of Understanding (MoU) setting out €300 million of new EBRD emergency support for the energy sector. The EBRD will continue to explore with its partners further ways to support the country’s energy security.

In Berlin, the EBRD was active in all four of the conference’s thematic areas: EU accession; business development; local, municipal and regional development; and human capital development.

In the area of EU accession, the European Union agreed to provide €517 million to Ukraine through EBRD programs to support its economy and recovery. The agreements were signed on Tuesday by Managing Director for Ukraine and Moldova, Arvid Tuerkner, and European Commission Vice President Valdis Dombrovskis.

In the business category, the EBRD signed multiple transactions.

• An EBRD equity investment in a renewable energy joint venture led by a German investor to build and operate new solar power generation facilities in Ukraine. The EBRD is also lending €60 million to finance the construction of a privately owned Ukrainian greenfield biofuels project.
• Two transactions with local banks: a €20 million local-currency loan to Bank Lviv and a €50 million unfunded portfolio risk-sharing facility to Raiffeisen Bank Ukraine. These instruments will strengthen the banks’ lending capacity and boost access to finance for Ukrainian small and medium-sized enterprises (SMEs).
• A pre-financing agreement with PrivatBank for an unfunded portfolio guarantee, which, once signed, will cover up to 50 percent of PrivatBank’s credit risk on newly issued sub-loans worth up to €400 million to private businesses. This will help Ukrainian companies continue their operations, safeguard livelihoods, and invest in projects that contribute to the country’s food production, energy efficiency, and energy generation.
• To support Ukraine’s cross-border trade, the US International Development Finance Corporation and the French development agency Proparco declared their intent to share the risk of the EBRD’s trade finance exposure in Ukraine in the coming year. The two institutions intend to provide up to US$ 50 million each in risk-sharing guarantees, to support the export and import of critical goods. The arrangement builds on a plan drawn up last year by development finance institutions to collaborate on co-investments in Ukraine’s private sector.
• The EBRD and IFC agreed to continue advancing their joint appraisal to support the creation of a leading integrated telecoms operator in Ukraine through the merger of Datagroup-Volia, a national fixed telecoms leader, and Lifecell, the country’s fastest-growing mobile operator. The landmark deal for Ukraine would entail potential joint financing of up to US$ 435 million to support the expansion and improvement of telecommunications infrastructure.
• The Bank joined the SME Resilience Alliance, an initiative launched by the conference’s German organizers.
• Lastly, the EBRD is partnering with Endeavor Global to launch Endeavor Ukraine. The organization’s Ukrainian chapter will support high-impact entrepreneurs through mentoring, networking, and investment opportunities, promoting an entrepreneurial ecosystem, which is crucial for a vibrant private sector and long-term economic growth.

To support Ukraine’s cities and regions as they grapple with the fallout from the war, the EBRD signed two municipal transactions and four pre-financing agreements worth a total of €143 million, under the conference’s local and regional heading, as well as MoUs for regional transport and water infrastructure projects.

• The EBRD is lending a financial package of €25 million to the port city of Mykolaiv to repair its water infrastructure. The package includes a €10 million grant component provided by Denmark and a €5 million grant from the Eastern Europe Energy Efficiency and Environment Partnership (E5P).
• The Bank is lending €15 million, which includes an EU component, to Lutsk to upgrade its district heating system.
• Kharkiv, Ukraine’s second city, which has come under heavy Russian attack in recent months, was one of three municipalities along with Kyiv and Kryvyi Rih to sign pre-financing agreements for the provision of emergency liquidity to maintain vital services. The Kharkiv project will also include an EU component. A fourth pre-financing agreement was signed with the city of Zhytomyr for a public transport project.
• MoUs were also signed with Ukrainian Railways and the Ministry of Infrastructure for a potential €300 million project in which the EBRD would provide co-financing for the purchase of electric locomotives, and with the Ministry to support the regional water sector.
• The Bank joined the Coalition for Sustainable Municipalities.
  

Under the umbrella of human capital, the EBRD, Ministry of Economy of Ukraine and Sweden’s Folke Bernadotte Academy (FBA) launched a new Human Capital Resilience Charter to help employers in Ukraine support returnee workers and veterans in meeting the challenges they face in the wartime labour market. The EBRD also joined the Skills Alliance for Ukraine as well as the Alliance on Gender-Responsive and Inclusive Recovery.

Lastly, the Bank reconfirmed its deepening partnership with USAID by signing an MoU with shared objectives regarding Ukraine’s resilience and recovery. It establishes a basis for ongoing cooperation between the partners in energy, infrastructure and finance.

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• EBRD President to meet with President Rahmon
• Renaud-Basso will also meet with senior government officials
• Several green and inclusive projects are to be signed

TAJIKISTAN: The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, will visit Tajikistan from 29 to 30 April 2024 for meetings with senior government officials and the business community.

During her two-day program, the EBRD President will meet with President Emomali Rahmon, Mayor of Dushanbe Rustami Emomali, and hold meetings with Minister of Finance Faiziddin Qahhorzoda and Chairman of the National Bank of Tajikistan Firdavs Tolibzoda.

President Renaud-Basso said: “Last year our Bank celebrated the 30th anniversary of work in Tajikistan. Over these years we enjoyed excellent cooperation with the authorities, both central and regional, and the business community, which allowed us to invest €947 million in 168 projects across the country. This is my first visit to Tajikistan and I look forward to meeting the officials and familiarising myself with the results of our work.”

In the context of her visit, the Bank is planning to sign several projects aimed at green lending under the Dushanbe Green City Action Plan and to support women’s entrepreneurship and trade.

To date, the EBRD has invested €947 million through 168 projects in Tajikistan.

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• EBRD achieves record direct mobilization of €2.8 billion, total mobilization of €26 billion
• Total mobilization is a comprehensive metric, including both direct and indirect mobilization
• The new approach provides more transparency on the Bank’s work in mobilizing investors

LONDON: The European Bank for Reconstruction and Development (EBRD) delivered a record volume of direct mobilization in 2023 and is now pioneering a new total mobilization metric to report on its overall mobilization activities. Total mobilization is a comprehensive metric that includes private, public, direct, and indirect mobilization.

The new methodology improves on the Bank’s existing annual mobilized investment (AMI) figure and captures a wider array of impactful forms of mobilization. By shifting to total mobilization, the EBRD intends to enhance its reporting standards to provide a fuller picture of its growing work, particularly on mobilizing private-sector finance.

Christian Kleboth, EBRD Head of Debt Mobilisation, said: “Despite the challenging nature of measuring mobilization, adopting the new methodology is a bold step in the right direction. The Bank is rising to this challenge, stepping up its reporting to ensure greater transparency that will be key to unlocking further private investment flows to the EBRD regions.”

For more than thirty years, the Bank has been supporting these countries in transitioning to open and market-oriented economies. Mobilization in general, and private mobilization in particular, have always been at the core of the EBRD’s operations. The escalating climate crisis and the widening gap between public institution financing and development finance require more private-sector investment to help economies reach their climate and related development goals. This is particularly acute as the widening climate-finance gap will require an additional annual investment of US$ 2-2.8 trillion (€1.8-2.6 trillion) by 2030.

With this in mind, the EBRD has been stepping up its private-sector mobilization efforts to help its economies meet their investment needs. Throughout 2023, the Bank’s total mobilization, or the overall amount of unlocked investment from all sources, amounted to €26.2 billion. This included direct mobilization (AMI) of €2.8 billion and a preliminary figure for private indirect mobilization of €23.4 billion.

Last year, for example, the EBRD’s policy work in Egypt led to the investment of billions of euros in the renewable energy sector through the country’s ground-breaking Nexus on Water, Food and Energy (NWFE) platform. In the same year, the Bank arranged the mobilization of US$ 246 million (€225 million) from multiple private lenders for a wind power project in Uzbekistan for a tenor of 20 years, alongside its own US$ 300 million (€275 million) investment. The Bank plans to do more, and the total mobilization metric is best placed to measure its crucial work.

Mobilization is not exclusive to the EBRD; multilateral development banks and development finance institutions are continuing to improve reporting standards together. The EBRD’s shift to the new metric is a pioneering move that will benefit the Bank’s economies and the wider development finance community.

The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 72 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well governed, green, resilient andintegrated. 

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