EBRD governors endorse Bank’s focus on Ukraine and Middle East

• Ukraine will remain Bank’s top priority, with €10 billion deployed since Russia’s full-scale invasion
• Bank will maintain support for economies affected by Middle East conflict
• Governors welcome Bank’s Economic Governance Strategy

The Board of Governors of the European Bank for Reconstruction and Development (EBRD) has adopted a resolution reaffirming the Bank’s focus on supporting Ukraine during the war and the subsequent reconstruction, while also expanding support for economies affected by the conflict in the Middle East.

This resolution was adopted at the Bank’s 35th Annual Meeting and Business Forum, held from 5 to 7 June in Riga, Latvia.

Acknowledging shareholders’ strong show of commitment through the Bank’s capital increase, with 95 per cent of available shares having been taken up so far, governors emphasised that the EBRD had to remain at the forefront of support for Ukraine, working closely with all international partners and multilateral development banks.

Odile Renaud-Basso, President of the EBRD, welcomed the resolution, saying: “I would like to express my gratitude to our Governors for their continued support and enduring confidence in the EBRD’s mission.”

“This resolution once again underscores the strong commitment and unity of purpose among the Bank’s shareholders. With this backing, the EBRD will, in particular, play an even stronger role in supporting Ukraine’s future - advancing recovery, strengthening resilience and fostering sustainable, long-term development at this pivotal time.”

The resolution identifies several ongoing priorities in Ukraine, including strengthening the resilience of energy systems and critical services, restoring the country’s private sector development and long-term economic potential, improving the business environment, reinforcing the role of the financial sector and advancing human capital development.

It also underlines the Bank’s desire to maintain and expand support, within the scope of its mandate, for economies affected by the conflict in the Middle East. In this context, the resolution highlights two key priorities: reinforcing resilience in the short term by keeping investment flowing; and supporting a return to growth across the region.

The Bank has recently announced a €5 billion response package to support economies and clients affected by the conflict in the Middle East, as well as neighbouring countries experiencing wider spillover effects. This support will focus on directly affected economies – Iraq, Jordan, Lebanon, and the West Bank and Gaza – as well as neighbouring countries such as Egypt, Türkiye, Armenia and Azerbaijan.

Finally, the Board of Governors committed to closely monitoring progress with the implementation of the Bank’s inaugural Economic Governance Strategy, which had been published ahead of the Annual Meeting.

In 2025, the EBRD delivered a record €16.8 billion across its regions, as well as signing its first projects in sub-Saharan Africa and Iraq.

The EBRD is owned by 77 countries, as well as the EU and the EIB. Since its establishment in 1991, the Bank has invested more than €220 billion in economies on three continents.