Priority areas

Standout support for Ukraine – and a commitment to continue

The EBRD continued its exceptional support for Ukraine in 2025, deploying a record €2.9 billion to maintain livelihoods and businesses, and to lay the groundwork for a prosperous future.

This took total deployment since February 2022 to more than €9.1 billion, including generous donor support, making the EBRD Ukraine’s largest institutional investor. The EBRD-led Ukraine Investment Platform, established with the G7 development finance institutions in 2023, also continued to mobilise finance.

EBRD President Odile Renaud-Basso reaffirmed the Bank’s backing for Ukraine during her fifth and sixth wartime visits, meeting government and business leaders, as well as young entrepreneurs.

At July’s Ukraine Recovery Conference (URC), the EBRD, European Investment Bank, European Commission and Ukrainian government announced the Ukraine Facility for Infrastructure Reconstruction (Ukraine FIRST) to accelerate project preparation for Ukraine’s reconstruction and long-term alignment with EU standards. The EBRD is managing one of two delivery windows and has attracted substantial donor support.

Empowering economy-wide green growth

Many EBRD economies face increasing climate-related risks. Shifting to greener forms of energy, industry, agriculture, transport, urban spaces and financing – the six core economic systems targeted in the Bank’s Green Economy Transition (GET) Strategy 2026-30 – offers an integrated approach to tackling these issues while strengthening economic resilience and competitiveness and presenting an opportunity for private investors.

GET-eligible investment remained strong in 2025, reaching €9.4 billion across 493 projects and accounting for 56 per cent of Annual Bank Investment, above the Bank’s 50 per cent target. This is expected to contribute to an annual reduction in CO₂ emissions of an estimated 16.4 million tonnes.

The EBRD’s country sector platforms help to catalyse green investment. The Türkiye Industrial Decarbonisation Investment Platform, on which the EBRD partners with the World Bank and International Finance Corporation, launched in late 2024 with the aim of deploying €5 billion by 2030. The world’s largest industrial decarbonisation programme, in 2025 it channelled several investments into the emissions-intensive cement sector, the source of 14 per cent of Türkiye’s greenhouse gases.

Advancing equality of opportunity and strengthening human capital

Inclusive economies are more resilient and productive, drawing on the full potential of all people to maximise prosperity and long-term growth. Yet many people in the EBRD regions, especially women, young people, and displaced populations, face barriers to economic participation.

The Bank’s work to promote equality of opportunity and human capital development in 2025 included supporting broader access to skills and employment, boosting the availability of finance and services for underserved groups, supporting people and businesses in crisis-hit regions and helping enable a just energy transition.

The EBRD’s flagship Women in Business programme reached a landmark, with total mobilisation since 2014 surpassing €1 billion. The initiative has supported 250,000 entrepreneurs in 23 countries.

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Harnessing digital technology to develop modern market economies

The digital economy is expanding at more than twice the pace of global gross domestic product, but firms across the EBRD regions are adapting to the digital transition unevenly. Gaps are arising in infrastructure and digital readiness at a time when advances in artificial intelligence could create further imbalances and increase cyber-risk.

The EBRD continued to facilitate a more sustainable and inclusive digital transition in its regions in 2025, using its full toolkit of investments, policy advice and advisory services to enhance cybersecurity and foster developments in three digital-economy focus areas: foundation, adaptation and innovation.

The Bank signed 81 investments with a digital component in 2025, approved 24 policy engagements and conducted 725 advisory services to support the digital transformation of SMEs. The Cybersecurity Resilience Programme, which launched in 2023, completed 13 assignments with clients in all sectors of the Bank’s operations.

Deeper impact on economic governance

Economic governance is at the heart of the EBRD’s transition mandate. The rules, policies and institutions that shape and regulate economic activity at corporate, sectoral and national level must be strong, transparent and enable accountability if competition and private-sector entrepreneurship are to flourish.

The EBRD’s integrated approach – combining public- and private-sector investment, technical assistance and policy reform – constitutes a distinct business model among international financial institutions that provides effective support for economic governance reforms.

Reform engagements in 2025 included:

• strengthening Ukraine’s institutional capacity to deliver an effective and transparent economic reform and recovery programme
• supporting Moldova’s economic reform agenda as it seeks EU membership
• assisting with energy market reform in Egypt
• helping Estonia to reinforce its legal framework for financial markets.

Mobilising finance to multiply the impact of our work

The EBRD mobilised record-equalling volumes of finance in 2025, as continued dialogue with the private sector helped to bridge the gap between investors and emerging markets.

Total mobilisation was unchanged on the year at €26.8 billion. Direct mobilisation – also referred to as annual mobilised investment – increased to €5.7 billion from €4.8 billion, with private direct mobilisation, as jointly defined by multilateral development banks, holding firm at €2.8 billion.

The 2025 launch of the Financial Institutions Portfolio Programme will boost the Bank’s efforts to mobilise more private capital. Backed by €150 million of credit risk insurance from AXA XL, it aims to speed up the deal-making process and add certainty for private lenders to the EBRD’s partner banks.

Also established in 2025, the EBRD Private-Public Taskforce for Mobilisation provides a forum for investor engagement. This helps the Bank to identify and design products around investors, making it more likely that their capital will flow to its investee economies.