EBRD marks record year with €16.6 billion invested in 2024

This article is brought to you in association with EBRD.

• EBRD invests €16.6 billion in record year and mobilises €26.7 billion in 2024
• Bank finances a record number of projects in 2024
• Green projects reach 58 per cent of Annual Bank Investment

The European Bank for Reconstruction and Development (EBRD) delivered a record €16.6 billion in investments across its economies in 2024, a 26 per cent increase over the previous year. 

Total mobilisation – the overall amount of investment the Bank unlocked from all sources in 2024 – amounted to €26.7 billion.

The EBRD financed a record 584 projects overall, with 76 per cent of investments going to the private sector, corresponding to a record volume of €12.5 billion.

In a 12-month period marked by geopolitical tensions around the globe, the Bank also reported record shares of green and gender-tagged projects. Green economy financing amounted to 58 per cent of the Bank’s total investment volume in 2024, at a record of more than €9.7 billion, while the share of gender-tagged projects was 47 per cent.

Annual disbursements hit a record level of €10.6 billion. The Bank’s portfolio reached €61.9 billion, surpassing the milestone of €60 billion, while operating assets reached €42.1 billion, exceeding €40 billion for the first time.

In 2023, the Bank delivered €13.1 billion in investments across its economies, with 464 projects financed, also reporting a record volume and number of investments, green financing, disbursements, support for the private sector, and number of projects with a gender component.

With its 2024 numbers, the Bank has surpassed pre-pandemic investment by 60 per cent. EBRD investments topped €10 billion for the first time in its history in 2019.

EBRD President Odile Renaud-Basso said: “We achieved record-breaking impact in 2024, both in volume and, more importantly, in quality. In fact, we not only beat records, but went far beyond them.

“Demand for our unique business model of financing combined with policy advice grows with every year that passes. Our capacity to respond to the evolving needs of our clients must keep pace with these changes.  

“Last year highlighted strong momentum in our green and gender financing, in parallel with steadfast support for Ukraine and its real economy. And we will continue to deliver for our clients, both individually and by working together with our partners as part of a wider system.”

The Bank’s record performance across its regions in 2024 included strong backing for Ukraine, deploying over €2 billion of financing in the third year of Russia’s full-scale war against the country.

Highlights of the EBRD’s engagement in Ukraine included the launch of an innovative war insurance facility to help revitalise the insurance market, €300 million in financing to Ukrainian Railways for the acquisition of electric locomotives, support for Ukrnafta to boost the resilience of the country’s power sector and the provision of new guarantees to Ukraine’s banking sector to unlock €690 million of new financing for critical industries.

The EBRD also provided US$ 217.5 million in long-term debt to support a landmark project involving two leading Ukrainian telecom groups, in what was the largest single foreign direct investment in Ukraine by a major strategic investor since Russia’s invasion.

Elsewhere in its regions, the Bank last year provided support to the private sector in the West Bank, including an equity investment in Bank of Palestine against the backdrop of the conflict in the Middle East.

In the context of the climate emergency and the need to mobilise more support for development from the private sector, multilateral development banks (MDBs) responded to calls for greater collaboration between them.

Ten MDBs, including the EBRD, announced joint steps to work more effectively as a system and increase the impact and scale of their work to tackle urgent development challenges. 

In addition, the Bank signed a memorandum of understanding with the World Bank Group in a bid to enhance their collaboration and respond to global challenges more effectively together.

In 2024, the EBRD succeeded in mobilising nearly €1.63 billion in new donor funds, including unfunded guarantees, over €913 million of which were signed for Ukraine. The European Union provided 68 per cent of the donor resources.

Over the course of 2024, the EBRD gained its first two shareholders from sub-Saharan Africa, Benin and Côte d’Ivoire, bringing its total number of members to 76. The Bank plans to launch operations in the region later this year.

The year also featured a presidential election, with the Board of Governors re-electing Odile Renaud-Basso to a second term as President at its Annual Meeting and Business Forum in Yerevan, Armenia.

The Bank’s performance in individual economies and regions will be announced later this month and its overall financial results for last year will be published in spring.