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EBRD Approach to local currency financing and market development

Market development to enable local currency lending and financial stability

To be able to offer affordable local currency loans in incomplete markets with features that meet borrowers’ needs, EBRD:

  • Develops where it can liquidity pools, allowing to depart from back-to-back financing
  • Raises local currency financing via a mix of instruments including swaps and bond issuances
  • Participates in domestic markets with domestic counterparties. Most of our Countries of Operation have bank dominated financial systems, who can lack the tools to manage the financial risks on their balance sheet. Participating in domestic markets is both key to manage liquidity pools and help develop domestic markets.

In order to operate more efficiently in local markets, we support local market development. This in turn supports sustainable growth of local currency financing capacity for all market participants, which enhances financial stability

  • Monetary policy advice,
  • Deepening of money markets,
  • Money market indices
  • Development of derivative markets,
  • Legal and regulatory reform
  • Valuation tools
  • Capacity building

Read more: Framework for Developing Money Markets in Frontier and Emerging Market EconomiesEnglish | Russian

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