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Annual Review 2025

The EBRD set new records for the volume and impact of its work in 2025, with total investment rising to an all-time high of €16.8 billion across 640 projects.

The Bank remained Ukraine’s largest institutional investor, deploying a record €2.9 billion during the year. It also backed projects to further the green transition, digital transition and equality of opportunity across its regions, with 75 per cent of all investments in the private sector.

In an historic step, the EBRD began operations in sub-Saharan Africa and welcomed six new countries of operation.

President's message

In 2025, the EBRD became a bigger and more effective development bank.

Against a backdrop of global turbulence, we maintained a clear focus on our mission and on being a reliable partner in the economies we support.

Amid growing demand for our business model – based on backing the private sector to help deliver sustainable market economies – we welcomed six new countries of operation.

Total investment reached a record €16.8 billion, three-quarters of which was in the private sector, as we stood firmly behind Ukraine and supported projects advancing the green and digital transitions and equality of opportunity across three continents.

The Bank directly mobilised a record €5.7 billion, and our integration of this financing with policy dialogue and business advice – a unique model among multilateral development banks – helped enable long-term systemic change.

The EBRD began operations in sub-Saharan Africa in 2025 – after Benin, Côte d’Ivoire, Kenya, Nigeria and Senegal became countries of operation – as well as in Iraq, in an historic step agreed by our shareholders.

As the EBRD embarks on a new era and marks its 35th anniversary, we remain firmly anchored in our founding purpose and believe that, in an era of persistent uncertainty, multilateral cooperation has never been more critical. Together with our shareholders and partners, we will continue to propel growth and accelerate transition throughout our economies. 

The EBRD's mission

The Bank’s purpose, according to the 1991 Agreement Establishing the EBRD, is to “foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative”.

Record investment in 2025 enhanced the EBRD’s ability to fulfil this mandate, while its historic expansion into five countries in sub-Saharan Africa plus Iraq will see it widen the geographic scope of its transition impact.

Linking financial assistance to technical assistance, policy dialogue, and business advice has always been key to how the EBRD creates impact that lasts – through systemic change, rather than just standalone investments.

Achieving ongoing impact also requires the Bank to regularly re-evaluate its approach. Its principles have been constant throughout its history, but the way it delivers on its aims has evolved.

The year in numbers

€16.8bn

Annual Bank Investment (ABI)

640

Number of projects

€12.7bn

Private-sector volume of ABI

75%

Private-sector share of ABI

€64.5bn

Portfolio of investment projects, including undisbursed commitments

€2.1bn

Financing provided to partner financial institutions to support on-lending to micro, small and medium-sized enterprises

€203m

Financing provided to partner financial institutions to support on-lending to youth-led enterprises under the Youth in Business programme

€191m

Financing provided to partner financial institutions to support on-lending to women-led enterprises

1,840 trade deals

completed under the Trade Facilitation Programme, worth a total of €4.2bn

1,529 advisory projects

initiated in 2025 under the Small Business Initiative

Annual Review 2025: other languages

Compte rendu annuel d’activités 2025

PDF format / 4.95 MB
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Jahresrückblick 2025

PDF format / 5.19 MB
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Годовой обзор за 2025 год

PDF format / 4.96 MB
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تقرير المراجعة السنوية 2025

PDF format / 5.64 MB
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