Level 9 of 10: The IMF, World Bank and global finance

European Bank for Reconstruction and Development (EBRD)

The EBRD is a London-based development bank that invests mainly in private businesses to support the transition to market economies across three continents; it invested a record €16.8 billion in 2025 (EBRD). It is owned by 77 countries, the European Union and the European Investment Bank, each represented on a Board of Governors that delegates most powers to a Board of Directors. Its President is Odile Renaud-Basso.

Who leads it

• President: Odile Renaud-Basso (ebrd.com)
• UK Governor: John Healey (Chancellor of the Exchequer) (ebrd.com)

The UK and the EBRD

The UK is a founding shareholder (joined 28 March 1991) with a capital subscription of €2,900,110 thousand; the EBRD lists the UK Governor as John Healey and the Alternate as Kirsty McNeill. HM Treasury reports €2.0 billion (about £1.8 billion) of UK callable capital and an extra 34,360 paid-in shares bought in 2024, paid in five €69 million instalments.

Key figures

What it decides

• Board of Governors: sole authority over membership, changes in capital stock, appointing Directors and the President, and approving financial statements, reserves and allocation of profits (EBRD shareholders page).
• Board of Directors: responsible for country, sector and thematic strategies, policies and operations, under powers delegated by the Governors.
• Aims for private-sector finance to exceed three-quarters of its financing each year (EBRD history page).
• Its founding agreement commits it to 'market-oriented economies and the promotion of private and entrepreneurial initiative' (EBRD history page).

Records you can check

• EBRD shareholders
  Every shareholder's joining date, capital subscription, Governor and Alternate
• EBRD project finder
  Project summaries by country and sector
• Basic documents
  Agreement establishing the Bank and by-laws
• HM Treasury Annual Report and Accounts 2025-26
  Value of the UK shareholding and UK callable capital

Common questions

How much does the UK have in the EBRD?

A capital subscription of €2,900,110 thousand (EBRD shareholders page). HM Treasury also reports €2.0 billion (about £1.8 billion) of callable capital that has not been paid in, at 31 March 2026.

Who represents the UK at the EBRD?

The Chancellor of the Exchequer is the UK Governor (gov.uk). The EBRD lists John Healey as Governor and Kirsty McNeill as Alternate.

How much did the EBRD invest in 2025?

A record €16.8 billion across 640 projects, 75% of it in the private sector (EBRD, 2025 results).

Where is the EBRD based?

Five Bank Street, Canary Wharf, London. It moved there in 2022 from One Exchange Square (EBRD).

Who owns the EBRD?

77 countries, the European Union and the European Investment Bank (EBRD).

Other bodies at level 9

• African Development Bank
• Asian Development Bank
• Asian Infrastructure Investment Bank
• Bank for International Settlements
• Basel Committee on Banking Supervision
• European Investment Bank
• Financial Stability Board
• International Monetary Fund
• Paris Club
• World Bank Group

Sources

• EBRD: Who we are, read 16 October 2026
• EBRD: Shareholders, read 20 October 2026
• EBRD: Governance and leadership, read 20 October 2026
• EBRD: History, read 20 October 2026
• EBRD: Our headquarters, read 20 October 2026
• EBRD invests record €16.8 billion in 2025, read 20 October 2026
• HM Treasury Annual Report and Accounts, year to 31 March 2026, read 20 October 2026
• GOV.UK: The Rt Hon John Healey MP, read 20 October 2026