The European Bank for Reconstruction and Development (EBRD) has approved Nigeria, Ivory Coast, and Benin as new investment recipients.
The decision, announced Thursday at the bank’s annual meeting in London, marks the EBRD’s official entry into Sub-Saharan Africa.
This long-anticipated expansion will allow the three West African nations access to substantial EBRD funding and technical support.
“The EBRD will leverage its financial resources and expertise to boost the countries’ economies,” said President Odile Renaud-Basso.
She added that the bank’s involvement would complement existing development partners and create fresh opportunities for local populations.
Investments will commence once an amendment to the EBRD’s founding treaty comes into effect in July.
The bank also confirmed that Kenya, Ghana, and Senegal are under consideration but must meet pre-membership conditions.
Established in 1991 to rebuild post-Cold War Eastern Europe, the EBRD has since expanded into the Middle East, North Africa, and Mongolia.
To date, it has invested over €200 billion, primarily in private sector development and policy reform.
The bank partners with businesses across sectors such as natural resources, finance, agriculture, and infrastructure.
