The European Bank for Reconstruction and Development (EBRD) has extended the deadline for its shareholders to join a capital increase approved in late 2023. The bank’s president, Odile Renaud-Basso, confirmed the move on Monday, just before its annual general meeting in London.
So far, over 60% of the EBRD’s 75 shareholders—such as Japan and most EU countries—have either paid or are in the process of contributing. However, the remaining shareholders, including the United States, have yet to do so.
“The deadline will be extended until the end of the year,” said Renaud-Basso. “We always set a deadline to try to accelerate and then be ready to extend the deadline.”
The U.S., which holds a 10% stake and is the bank’s largest shareholder, has not made its position clear. The U.S. Treasury has not responded to requests for comment.
Washington’s role in global development banks has come under scrutiny, especially under President Donald Trump, whose administration has scaled back development financing. Trump is expected to allocate $3.2 billion to the World Bank’s International Development Association (IDA), falling short of the $4 billion pledged by former President Joe Biden.
Despite the uncertainty, Renaud-Basso said the EBRD remains financially strong.
“We had very good results since 2023,” she said. “We are on very solid financial ground.” She added that even if the U.S. does not subscribe, it would retain its status as top shareholder, although its percentage stake would drop.
The EBRD will continue prioritizing green energy projects and human capital development, including support for women in business—areas that have faced opposition from the Trump administration at other development institutions.
“Our investment in this area is driven by economics, energy security, and energy efficiency,” Renaud-Basso said.
She also announced that the bank’s board is expected to approve the launch of operations in Nigeria, Ivory Coast, and Benin, marking a step forward in the EBRD’s expansion into Sub-Saharan Africa.
Amid global uncertainty, including ongoing trade tensions and the war in Ukraine, Renaud-Basso emphasized the importance of strong development banks like the EBRD.
“The level of uncertainty has never been so high,” she said.
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