BAKU, Azerbaijan, April 23. The European Bank
for Reconstruction and Development (EBRD) will expand its
geographic scope to include selected countries in sub-Saharan
Africa and Iraq, following the approval of an amendment to Article
1 of the Bank’s statutes by its shareholders, Trend reports.
This article outlines the EBRD’s mandate and regions of
operation.
The change, endorsed by the Board of Governors in 2023, will
take effect in three months. It allows the Bank to begin the
process of granting operational status to eligible countries once
they become members.
So far, Benin, Côte d’Ivoire, Nigeria and Iraq have joined the
EBRD as shareholders. Senegal, Kenya and Ghana are in the process
of becoming members.
The announcement comes ahead of the EBRD’s 34th Annual Meeting,
set to take place at its London headquarters from 13 to 15 May
2025. The meeting will focus on the theme Expanding Horizons,
Enduring Strengths, highlighting the Bank’s evolving strategy and
upcoming five-year framework.
The EBRD currently includes 75 national shareholders, along with
the European Union and the European Investment Bank. The Bank
supports countries in transition through investment, advisory
services, and policy reform, with a focus on private sector
development and sustainable growth.
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