The European Bank for Reconstruction and Development (EBRD) announced, on Thursday 15 May 2025, that its shareholders granted the status of recipient countries of financing to Benin, Côte d'Ivoire and Nigeria.

“This status will come into force when the required amendment to the Bank's founding treaty comes into force in July 2025. The Bank will launch its investments in these three countries shortly thereafter,” the bank said in a statement

The EBRD will bring its distinct, private-sector-focused, locally-based business model to unlock access to finance, promote local businesses, and foster sustainable, long-term growth, thereby contributing to the transformation of these three economies.

“We are delighted to welcome Benin, Ivory Coast and Nigeria as countries of operations today. We look forward to rapidly launching our activities in these countries and establishing official representations there,” said EBRD President Odile Renaud-Basso

According to her, the EBRD will use its financial resources and expertise to stimulate the economies of these countries and offer new opportunities to their populations, complementing the work of existing development partners.