The European Bank for Reconstruction and Development (EBRD) has approved its Strategic and Capital Framework (SCF) for the next five years, demonstrating strong and continued support for Ukraine.
The EBRD’s central strategic objective for the 2026–2030 period is to provide exceptional support to Ukraine—sustaining livelihoods during wartime and contributing to the country's prosperous future within Europe as it undergoes reconstruction.
Governors agreed at the end of 2023 to increase the Bank’s paid-in capital by €4 billion to provide significant and sustained investment for Ukraine and help support the EBRD’s priorities wherever it operates.
The Bank has deployed more than €7 billion in Ukraine since the full-scale Russian invasion in 2022 and the new capital will have a multiplier effect which will further increase available investment.
"Delivering on the capital-increase commitments to Ukraine is the EBRD’s highest medium-term priority and a yardstick by which it will be judged. The EBRD will also increase its support to other countries of operation in response to both long-term transition needs and the continuing disruption and displacement resulting from the war in Ukraine," - the Bank said in its statement.
During the new SCF’s five-year period and without reducing its existing commitments, the Bank will also become fully operational in new countries in sub-Saharan Africa and Iraq.
“The Bank enters the next SCF period from a position of strength. This enables us to be even more ambitious for the impact and delivery we strive to achieve, not least in supporting Ukraine, which will continue to be our top priority,” - stated the EBRD President Odile Renaud-Basso speaking about Bank's strategic approach for the next five years.
The new SCF identifies three core themes for its activities:
Accelerating the green transition.
Advancing economic governance.
Promoting human capital and equality of opportunity for all.
It also aims to maximise the Bank’s impact through two strategic enablers:
Developing and deploying digital technology.
Mobilising more private capital.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13th of July, covering the latest developments you need to know.
Oil prices rose nearly 3% on Tuesday to their highest level in four weeks as the United States and Iran stepped up attacks around the Strait of Hormuz, adding fresh uncertainty to global energy supplies.
China has approved fast-fashion retailer Shein's long-awaited initial public offering (IPO) in Hong Kong, clearing the way for the company to pursue a stock market listing after previous attempts in the U.S. and London failed.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
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