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Issue 35, July 2026

35 years of rising to the moment

Marking the 35th anniversary of the EBRD’s creation, this issue explores how the Bank has responded to successive crises and changing realities across its regions. From the end of the Cold War, the 2008 global recession and the Arab Spring, through to support for Ukraine in wartime and expanding operations to new geographies, contributors reflect on the experiences that have defined us and continue to inform our work today.

Guy Guyett | Built for impact: Why the EBRD’s model matters more than ever

Greg Guyett reflects on how the EBRD’s distinctive combination of investment, policy engagement and institution building has evolved over the years, arguing that the Bank’s model is uniquely suited to addressing today’s economic, geopolitical and development challenges.

Jonathan Charles | Ever present at critical junctures

Jonathan Charles reflects on the defining moments that have shaped the EBRD’s history, from the fall of the Berlin Wall and the Arab Spring to the war in Ukraine, and on the Bank’s enduring ability to respond to periods of crisis and change.

Ron Freeman | From geopolitical rupture to institutional response: the creation of the EBRD

Ron Freeman looks back at 1991 and the extraordinary circumstances surrounding the Bank’s creation, from the collapse of the Soviet Union to the challenge of building a new institution for transition from scratch.

Josué Tanaka | EBRD year one: a personal recollection

Josué Tanaka reflects on the Bank’s formative years and the pioneering effort to build a new institution at a pivotal moment in Europe’s transition.

Erik Berglöf and Piroska Nagy Mohacsi

Global financial crisis: The Vienna Initiative's lessons for a fragmenting world

Hildegard Gacek | Revolutions beyond Europe: Crisis response in SEMED

Hildegard Gacek reflects on the Bank’s expansion into the Southern and Eastern Mediterranean after the Arab Spring, building offices, partnerships and a portfolio in a completely new region.

Phil Bennett | Operating under constraints: Sanctions and a rebalanced portfolio

Phil Bennett examines the Bank’s response to Russia’s 2014 intervention in Ukraine, the loss of Russia as a major country of operation and the strategic shift that followed across other regions.

Charlotte Ruhe | How the Bank helped to stabilise the Greek banking system

Charlotte Ruhe looks back on the EBRD’s response to the Greek sovereign debt and banking crisis, from capital injections and governance reforms to restoring confidence and market access.

Arvid Tuerkner | Ukraine: financing resilience and reform in a time of war

Arvid Tuerkner outlines how the EBRD has continued investing in Ukraine since February 2022, supporting energy security, municipalities, businesses and long-term reconstruction in wartime.

Matteo Patrone | New geographies: taking a transition toolkit to Sub-Saharan Africa and Iraq

Matteo Patrone explores how the EBRD’s transition model is being applied in Sub-Saharan Africa and Iraq, drawing on decades of experience in investment, policy engagement and institution building to support sustainable market economies in new regions.

Steven White | Reflections on Ukraine

From his first involvement in 1992 at the international Chornobyl Conference to joining the EBRD’s Nuclear Safety department, Steven White reflects on how the underlying objective governing the work remains ensuring long-term safety, structural stability and environmental protection at a site that continues to demand global attention.

Lori Coretchi | Advancing our strategic reach

Reflecting on how stronger alumni engagement can support knowledge sharing, connections and the Bank’s strategic priorities.

Subhash Chandra Jose | Celebrating our purpose with the Knowledge Hub and the ‘History of the EBRD’ exhibition

Exploring how the Knowledge Hub and the History of the EBRD exhibition are preserving institutional memory and making 35 years of experience accessible to future generations.

Katarzyna Kukuła | Human behaviour at the heart of social impact

Katarzyna Kukuła reflects on how behavioural science can improve public services, development outcomes and social impact, drawing on her work in Poland and beyond.

Milica Delevic and Gretchen Biery | How staff and the Bank are making a difference

Highlighting support for communities in Gaza through partnerships with UNICEF and UNDP and the Community Initiative.

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Alumni Insights | Issue 35, July 2026

Alumni Insights | Issue 35

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