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The European Bank for Reconstruction and Development (EBRD)
About Company
Established: 1991
President: Ms Odile Renaud-Basso
Address: One Exchange Square,
London EC2A 2JN, United Kingdom
Contact person: Attila Toth
Website: www.ebrd.com
- Joined FEAS in 2015-
Alex Pivovarsky
Director of Capital Markets
Development Team
Year in review
Last year was a year of significant milestones for EBRD, the year of records in the investment activity but also challenges in many of its regions. The Bank financed 464 projects with EUR 13 billion total value, the highest volume in the Bank’s history of which eighty per cent occurred in the private sector, also an all-time high. Total mobilisation, the overall amount of investment the Bank unlocked from all sources in 2023, amounted to €26 billion. This included direct mobilisation of almost €3 billion and a preliminary figure for private indirect mobilisation of €23 billion.
The Bank achieved the historic high investment volumes while at the same time delivering on its goals of developing the private sector and greening economies and maintaining its focus on delivering impact and supporting the transition to modern, inclusive markets.
In 2023, the Bank’s governors approved the resolution to increase the Bank’s paid-in capital by €4 billion, bringing its capital base to €34 billion, in a bid to sustain support for Ukraine. The EBRD remains Ukraine’s largest institutional investor and has increased its support during the war, focusing on energy security, vital infrastructure, food security, trade and the private sector.
The year also marked important progress for the Bank as its governors approved limited and incremental expansion of its operations to sub-Saharan Africa, which has growing economic links with the economies where the Bank currently operates, as well as potential for private-sector development. Preparatory analysis undertaken by the Bank has showed that the EBRD’s mandate and business model would fit most appropriately in Benin, Côte d’Ivoire, Ghana, Kenya, Nigeria and Senegal. Benin and Côte d’Ivoire have already been approved as new shareholders in EBRD. The number of shareholder countries has further increased to 74 in 2023 with the application of Iraq, which is also expected to become our country of operation in due course.
All these important developments in the Bank notwithstanding, the main priorities have not changed, and capital market development is still an important focus area where stock exchanges remained our natural allies. The EBRD supports the development of local stock exchanges at all stages from strategic planning through improving the regulatory, trading and post-trading infrastructure to product development, capacity building and/or to regional expansion and regional cooperation projects.
The Federation of Euro-Asian Stock Exchanges