The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

What next for the EBRD?

The EBRD has done such a good job in central and eastern Europe, opening up market access and catalyzing transformation of financial systems, that it now may no longer be needed. It must look once again to more troubled economies farther east to renew its mission. Julian Evans reports.

Jean Lemierre:  president of the EBRD says its fundamental principles are not contradictory.

After making mistakes early in its life – think marble floors in its London HQ and losses in Russia – the European Bank for Reconstruction and Development has forged a role for itself as one of the most important market participants in the central and eastern European region. It is the largest CEE private-equity investor, is involved in the biggest deals, and is the most active and most prominent multilateral. Indeed, the European Investment Bank, which is far larger than the EBRD and is a shareholder in it, is quietly envious of the amount of publicity the younger institution gets.

Its distinct culture combines the dynamism and decent salaries of the private sector with the idealism of, say, the Department for International Development. This culture is a product of the EBRD's unique mandate, the brain-child of its creator, French philosopher Jacques Attali. It is a public-sector institution dedicated to promoting private-sector activity.

Today, 12 years after it was set up, the bank faces two key challenges.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree