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EBRD investments reach record $14bn in 2022

REUTERS/Stefan Wermuth
EBRD reiterates its commitment to funnel a total of €3bn to Ukraine by year-end

The European Bank for Reconstruction and Development (EBRD) invested a record €13.1 billion ($14.1 billion) across its region in 2022, the bank said in a statement.

This compares with €10.4 billion in investments in 2021 and tops the previous record of €11 billion in 2020, when the lender extended emergency support across the region to help shore up economies against the fallout from the Covid-19 pandemic.

Of the total tally, €1.7 billion went to Ukraine for investments in vital infrastructure, energy and food security and support for the private sector. The EBRD reiterated its commitment to funnel a total of €3 billion to Ukraine by the end of the year.

“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,” EBRD president Odile Renaud-Basso said in the statement.

The number of projects financed by the EBRD in 2022 rose to 431 from 413 in the previous year.

The EBRD said the share of green economy financing reached 50 percent of total business volume, compared to 51 percent in 2021, meeting the lender’s target to make at least half its financing green by 2025 for the second year in a row.

The EBRD operates across around 40 economies stretching from Kazakhstan to Hungary and Tunisia.