EBRD increases capital by EUR 4 billion to continue supporting Ukraine
The heads of the European Bank for Reconstruction and Development (EBRD) have approved the decision to increase the bank's capital by EUR 4 billion, bringing it to EUR 34 billion.
Source: European Bank for Reconstruction and Development
Quote: "The additional capital from shareholders will be used to provide significant and sustained investment for Ukraine’s real economy, both in wartime and in reconstruction, and will help support the EBRD’s priorities in all economies where it operates. The EBRD has already deployed more than €3 billion in Ukraine since Russia’s invasion of the country in February 2022.
This final step, which follows a recommendation submitted by the EBRD’s Board of Directors in November 2023, concludes the formal process of increasing the EBRD’s authorised capital stock. The capital increase will take effect on 31 December 2024," the EBRD said.
It is noted that this is the third capital increase in the history of the EBRD after similar decisions made in 1996 and 2010.
It follows a recognition by EBRD executives in May 2023 that supporting Ukraine should be the bank's highest priority – now and in the future – while ensuring it can continue to deliver on its strategic priorities in all regions, the EBRD added.
Background:
- In November, the EBRD Board of Directors recommended that the bank's managers approve a paid-up capital increase of EUR 4 billion "to ensure a significant and stable volume of investments in Ukraine now and in the future."
Support UP or become our patron!
