96 97
Yearbook 2024
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
Year in review
LThe European Bank for Reconstruction and Development (EBRD) delivered a record €16.6 billion in investments across its economies in 2024, a 26 per cent increase over the previous year. Total mobilisation – the overall amount of investment the Bank unlocked from all sources in 2024 – amounted to €26.7 billion. The EBRD financed a record 584 projects overall, with 76 per cent of investments going to the private sector, corresponding to a record volume of €12.5 billion. In a 12-month period marked by geopolitical tensions around the globe, the Bank also reported record shares of green and gender-tagged projects. Green economy financing amounted to 58 per cent of the Bank’s total investment volume in 2024, at a record of more than €9.7 billion, while the share of gender-tagged projects was 47 per cent. With its 2024 numbers, the Bank has surpassed pre-pandemic investment by 60 per cent and EBRD investments topped €10 billion for the first time in its history in 2019.
The Bank’s record performance across its regions in 2024 included strong backing for Ukraine, deploying over €2 billion of financing in the third year of Russia’s full-scale war against the country.
Over the course of 2024, the EBRD gained its first two shareholders from sub-Saharan Africa, Benin and Côte d’Ivoire, bringing its total number of members to 76. The Bank plans to launch operations in the region later in 2025.
EBRD believes that supporting and promoting the development of functioning capital markets is about fostering resilience in the countries where we work. A resilient market economy supports growth, avoids excessive volatility and resists shocks and global challenges. A strong capital market can mobilise and allocate efficiently the investments to support the expansion and growth of the local companies from start-ups to large caps, and it also has an important role in wealth-creation via providing more attractive investing opportunities across our regions.
Fragmentation is one of the key challenges the capital markets of EBRD countries are facing today. Small, stand-alone local markets with unique legal and infrastructural setups creates small unconnected capital pools with low liquidity and efficiency. One of EBRD’s flagship initiative was in 2025 to sign a Memorandum of Understanding with 8 stock exchanges in Central Europe (Poland, Slovakia, Hungary, Romania, Slovenia, Croatia, Bulgaria and North Macedonia) in order to create a single integrated market and a unified pool of capital for the whole region.