On 15 November, the Board of Directors of the European Bank for Reconstruction and Development (EBRD) recommended the Bank’s governors approve a paid-in capital increase of €4 billion. This will enable the Bank to provide significant and sustained investment for Ukraine, now and in the future.
Endorsement by the Board of Directors is the first step in the formal process of increasing the EBRD’s shareholding from its current level of €30 billion.
Governors will make a final decision on the proposed capital increase by the end of 2023. This would take effect at the end of 2024, with the first payments to come in early 2025.
If the governors approve the proposal, this will be the third capital increase in the EBRD’s history, following similar decisions in 1996 and 2010.
This proposal acknowledges that support for Ukraine should be the Bank’s highest priority, now and in the future. The additional capital would enable the EBRD to continue providing a sustained level of investment during wartime – €1.5 billion a year and to increase its annual investment in Ukraine to €3 billion in the future.
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