The European Bank for Reconstruction and Development (EBRD) delivered a record 13.1 billion Euro in investments to its regions in 2022 at reported rates, in the face of the extremely challenging global economic environment in the wake of Russia’s war on Ukraine.

The 2022 result was significantly higher than last year’s Annual Bank Investment (ABI) total of 10.4 billion Euro and the previous record level of 11 billion Euro in 2020 in response to the economic shock triggered by the Covid-19 pandemics.

The Bank also mobilised a record amount of over 2.1 billion Euro in donor funds, including unfunded guarantees. Over 1 billion Euro of this is dedicated to Ukraine and other countries most affected by the war. The EU provided half of the donor resources alongside important contributions from many other donors such as the USA and Norway. 

“We did more than break a record, we exceeded our greatest expectations despite the tragedy of the war on Ukraine and the regional and global crises it has brought in its wake,” said EBRD President Odile Renaud-Basso. “This impressive operational performance is testimony to our resilience and determination to support our countries of operation and clients.”

The EBRD deployed 1.7 billion Euro, and a further 200 million Euro mobilised from partner banks, to support the real economy in Ukraine through investments in vital infrastructure, energy and food security, trade and support for the private sector.

The EBRD’s response to Russia’s war on Ukraine, which began on 24 February 2022, has been to commit to invest 3 billion Euro for Ukraine by the end of 2023, with the exceptional support of shareholders and donors who share part of the risk of the investments the EBRD has taken on its own book.