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- EBRD achieves record direct mobilisation of €2.8 billion, total mobilisation of €26 billion
- Total mobilisation a comprehensive metric, including both direct and indirect mobilisation
- New approach provides more transparency on the work in mobilising other investors
The European Bank for Reconstruction and Development (EBRD) delivered a record volume of direct mobilisation in 2023 and is now pioneering a new total mobilisation metric to report on its overall mobilisation activities. Total mobilisation is a comprehensive metric that includes private, public, direct and indirect mobilisation.
The new methodology improves on the Bank’s existing annual mobilised investment (AMI) figure and captures a wider array of impactful forms of mobilisation. By shifting to total mobilisation, the EBRD intends to enhance its reporting standards to provide a fuller picture of its growing work, particularly on mobilising private-sector finance.
Christian Kleboth, EBRD Head of Debt Mobilisation, said: “Despite the challenging nature of measuring mobilisation, 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. Mobilisation in general, and private mobilisation 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 requires 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 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 mobilisation efforts to help its economies meet their investment needs. Throughout 2023, the Bank’s total mobilisation, or the overall amount of unlocked investment from all sources, amounted to €26.2 billion. This included direct mobilisation (AMI) of €2.8 billion and a preliminary figure for private indirect mobilisation 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 mobilisation 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 mobilisation metric is best placed to measure its crucial work.
Mobilisation 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.