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While retaining overall authority over the Bank, the Board of Governors delegates most powers to the Board of Directors, which is responsible for approving the EBRD's country, sector and thematic strategies, policies and operations.
| Director | Alternate | Contact |
|---|---|---|
| Vacant | Katherine Allen | USA |
| Elena Aparici | Enrique Alejo |
Iraq |
| David Avarello | Rok Ponikvar | |
| Vanessa MacDougall | Mark Paskins | United Kingdom |
| Yasemin Girici | Lucian Isar | |
| Shigeto Hiki | Tomoko Kubo | Japan |
| José Leandro | Roy Dickinson | European Union |
| Dimitris Metaxas-Trikardos | Carlos Domingues | |
| Manuela Nenna | Umberto Bernardo | Italy |
| Tamás Vojnits | Klára Król | Hungary |
| Michael Offer | Konrad von Hoff | Germany |
| Jon Nicolaisen | Mikko Autti | |
| Yann Pouëzat | Clément Seitz | France |
| Vacant | Andrew Smith | |
| Magnus Rystedt | Kristina Åkesson | |
| Liliana de Sá Kirchknopf | Artem Shevalev | |
| Maria Shaw-Barragan | Vacant | European Investment Bank |
| Piotr Szpunar | Karina Karaivanova | |
| Elisabeth Vitzthum | Esti Feldman | |
| Kyunghee Kim | Natalie Horvat | |
| Brendan O'Connor | Miglė Tuskienė | |
| René van Hell | Qiyong Liang | |
| Vacant | Ilya Kavtaskin |