LONDON, May 15 (AGCNewsNet) – The European Bank for Reconstruction and Development (EBRD) has formally approved Benin, Côte d’Ivoire, and Nigeria as new recipient countries, significantly expanding its footprint in West Africa, the bank announced at its 2025 Annual Meeting in London.

EBRD shareholders ratified the decision, which will take effect from July 22, 2025, allowing the three nations to begin receiving investments and technical assistance under the bank’s operational mandate.

“This milestone deepens our commitment to fostering inclusive, sustainable growth through private sector engagement,” said Odile Renaud-Basso, President of the EBRD, during the Opening Session of the Board of Governors at Central Hall Westminster on Wednesday.

Since its inception, the EBRD has invested €220 billion—over 30 times the capital contributed by its shareholders—across its member countries. The bank’s Strategic and Capital Framework prioritizes inclusive procurement, supply chain finance, and the green transition, with a strong emphasis on economic governance and human capital development.

Other African countries such as Iraq, Ghana, Senegal, and Kenya are reportedly making progress toward full membership.

Blended finance featured prominently during the meeting, with stakeholders emphasizing the importance of mobilizing private sector capital in collaboration with multilateral institutions. Discussions centered around how international cooperation can offer scalable solutions to developmental challenges.

“Market economies, underpinned by democracy, offer the surest path to growth and prosperity,” Renaud-Basso stated, reaffirming the EBRD’s focus on partnerships that foster resilient economies.

The inclusion of Benin, Côte d’Ivoire, and Nigeria is expected to boost investment in green infrastructure, financial systems, and inclusive value chains across the region.

Stay connected with AGC NewsNet for the latest news from Africa.

Source: Trade Finance Global