The European Bank for Reconstruction and Development (EBRD) announced a 26% surge in investments in 2024, reaching an all-time high of €16.6 billion ($17.1 billion). Türkiye remained the largest recipient of EBRD funding, driven by its green initiatives and infrastructure projects.
Record Investment Levels Surpass Pre-Pandemic Highs
The EBRD’s record-breaking investment represents a 60% increase compared to pre-pandemic levels, fueled by projects in Ukraine and a focus on green financing, according to EBRD President Odile Renaud-Basso. The bank funded 584 projects last year, over 75% of which were directed toward the private sector. Total mobilization – investments sourced externally – stood at €26.7 billion.
“Support to Ukraine has significantly increased,” Renaud-Basso stated, citing heightened demand for power generation programs in response to the energy crisis caused by Russian attacks.
Türkiye Leads, Followed by Ukraine and Egypt
Türkiye retained its position as the top destination for EBRD investments, followed by Ukraine, Egypt, Poland, and Uzbekistan.
In November, Renaud-Basso visited Türkiye to support its decarbonization investment platform, which the EBRD has been actively backing. The bank also launched a new five-year strategy for Türkiye, emphasizing:
- Green transition and renewable energy investments.
- Development of human capital.
- Enhanced global competitiveness.
- Strengthened infrastructure and regional integration.
To date, EBRD investments in Türkiye have reached approximately $22 billion, with €2.5 billion expected for 2024 alone.
Focus on Green Energy and Regional Growth
Green financing emerged as a critical component of EBRD activities, with countries such as Uzbekistan and Egypt benefiting from renewable energy projects. “We’ve collaborated with several nations to develop renewable energy strategies and attract investors,” Renaud-Basso remarked.
Broader Global Engagement
The EBRD also provided over €2 billion in financing to Ukraine in 2024, responding to the country’s growing economic challenges. The bank’s efforts were bolstered by a €4 billion capital increase approved by EBRD governors, including a 10% contribution from the U.S., highlighting the strong international support for the lender’s mission.
With its record-breaking investments and ambitious regional strategies, the EBRD continues to play a pivotal role in driving sustainable development and supporting economies in transition.