Additionality in the EBRD

Additionality is one of EBRD’s three foundational operating mandates. It has featured centrally since 1992 in investment selection and design, in Bank representations of its role and purpose, and in Board/shareholder engagement with Management. For EBRD shareholders Additionality is the foundation of their claim for public resources and therefore has been of consistently high interest and concern.  This review seeks to fill some gaps that exist around additionality in EBRD and contribute to emerging Board and Management efforts to develop a stronger and more satisfactory institutional framework.