- EBRD President and UK Chancellor host private-sector leaders at the Bank’s headquarters
- Businesses, insurers, investors discuss private capital mobilisation in emerging markets
- MoU on holding the Bank’s 2025 Annual Meeting in London signed at the meeting
The European Bank for Reconstruction and Development (EBRD) and the UK government are joining forces to support private capital mobilisation and stimulate growth in developing countries and the United Kingdom.
EBRD President Odile Renaud-Basso and UK Chancellor of the Exchequer Rachel Reeves today welcomed UK-based businesses, insurers, financial services firms and other investors to the EBRD’s headquarters in London to explore ways of increasing private investment in emerging markets.
The United Nations estimates that, worldwide, there is a US$ 4 trillion annual shortfall in the financing required to achieve its Sustainable Development Goals by 2030. This gap has widened over time owing to economic slowdowns, the Covid-19 pandemic and the urgent need for investment in climate resilience.
As public funding alone is insufficient, unlocking private capital is key to closing this financing gap and addressing global challenges. Sub-Saharan Africa, where the EBRD will soon begin operations, faces particular challenges when it comes to mobilising private finance.
Ms Renaud-Basso said: “Mobilising private capital is key to meeting global development needs. I’m delighted to co-host UK business leaders with the Chancellor to discuss how multilateral banks like the EBRD can help channel further financing to emerging markets. By joining forces, we aim to deliver the much-needed impact for developing countries while creating new opportunities for businesses from developed economies.”
Ms Reeves said: “Business and government must work together to seize opportunities in emerging markets and kickstart economic growth as part of our Plan for Change. Today’s roundtable shows how the UK’s world-leading financial centre to help countries unlock new opportunities for our best and brightest British companies to create wealth and drive growth.”
The EBRD is the largest treaty-based organisation in the United Kingdom and, as a private sector-focused multilateral development bank (MDB), plays an important role in introducing the private sector to emerging markets.
The UK government, in partnership with MDBs such as the EBRD, is committed to facilitating greater private-sector investment, creating new opportunities for UK businesses to invest and grow internationally.
During the business roundtable, Ms Renaud-Basso and Ms Reeves signed a memorandum of understanding (MoU) confirming that the EBRD’s 2025 Annual Meeting and Business Forum would take place in London from 13 to 15 May 2025.
The EBRD’s 34th Annual Meeting will be the first to be held in London for nearly a decade. The event will feature a meeting of the Board of Governors, the Bank’s highest decision-making body, and a business forum bringing together global investors, business leaders, government officials and media representatives.
The EBRD is one of the strongest mobilisers of private capital in the regions where it operates, unlocking total investment of €26.8 billion in 2024. The Bank partners directly with UK-based businesses that are looking to invest in its economies of operations, offering co-financing, technical assistance, concessional support and risk mitigation tools.