Benin Officially Joins the European Bank for Reconstruction and Development (EBRD)

Benin has officially become a member of the European Bank for Reconstruction and Development (EBRD), making it the first Sub-Saharan African country to join the institution. This membership follows a request submitted in July 2023 and the approval of the Board of Governors during the EBRD's annual meeting in Samarkand in October 2023.

An amendment to the Bank's establishment agreement was approved to allow for a gradual expansion of its operations in Sub-Saharan Africa and Iraq. As a new country of operation, Benin will benefit from the EBRD's financial and political support.

This membership brings the number of the Bank's shareholders to 75, comprising 73 national shareholders, the European Union, and the European Investment Bank. The EBRD continues to focus on its support for Ukraine while working to promote more sustainable, inclusive, and digital economies in all the countries where it operates.