- 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 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.