Nigeria submitted its request to become a shareholder in April 2024, and the Board of Governors approved its membership in May 2024.
At the EBRD’s 2023 Annual Meeting in Samarkand, the Board of Governors approved an amendment to the Agreement Establishing the EBRD to enable a limited and incremental expansion of its operations to sub-Saharan Africa and Iraq.
Once that amendment is in force, which requires formal acceptance by the majority of the EBRD’s shareholders, the Bank will be able to take forward Nigeria’s request to become a country of operations.
Once it becomes a country of operations, Nigeria will be able to benefit from the EBRD’s financial and policy support.