Representing the Republic of San Marino at the European Bank for Reconstruction and Development (EBRD) 34th Annual Meeting and Business Forum in London from May 13 to 15, 2025, was an inspiring experience. The event, themed “Expanding Horizons, Enduring Strengths,” marked a significant milestone as it returned to the EBRD’s home city for the first time since 2016, hosted in the Bank’s new Canary Wharf headquarters.
In my statement, I appreciated the work done so far by the EBRD as one of the largest investors in Ukraine and a supporter of its reconstruction and expressed endorsement of the Republic of San Marino to the SCF 2026–2030. As one of its shareholders, San Marino looks forward to continued partnership with the EBRD to promote inclusive, sustainable growth, especially for smaller economies like its own, and to advance peace, democracy, and private sector development.
A pivotal outcome of the meeting was the approval of the EBRD’s Strategic and Capital Framework (SCF) for 2026–2030. This five-year roadmap reaffirms the Bank’s commitment to fostering sustainable economic development, with a continued focus on green transition, digitalisation, and equality of opportunity. The SCF also underscores the EBRD’s dedication to supporting Ukraine and expanding operations into Sub-Saharan Africa.
In a historic move, the Board of Governors approved the expansion of the EBRD’s operations into Sub-Saharan Africa by granting country of operations status to Benin, Côte d’Ivoire, and Nigeria. This decision underscores the Bank’s dedication to supporting economic development in emerging markets.
During the official and networking events, I had the privilege of engaging in constructive discussions with EBRD President Odile Renaud-Basso, the Chancellor of the Exchequer, Rt Hon Rachel Reeves MP, and my fellow governors from Portugal, Italy, Greece, and other countries. These exchanges offered an opportunity to underscore the Bank’s strengths in addressing global challenges and its vital role in supporting the private sector in advancing sustainable and inclusive economic growth. I also noted that the EBRD’s planned expansion into new regions, alongside its steadfast support for existing countries of operation, reflects its adaptability and enduring commitment to its mission.
The Business Forum featured high-level discussions on critical topics such as the role of international financial institutions in a changing world, capital mobilisation, industrial policy, water security, and Africa’s potential in critical raw materials. A central focus was the EBRD’s continuous support to Ukraine, with €7 billion deployed in Ukraine’s real economy since the start of Russia’s full-scale invasion in 2022, including €2.4 billion in the energy sector.
The EBRD’s efforts to mobilise private capital were also highlighted, with the Bank unlocking total investment of €26.8 billion in 2024. In my view, the 2025 Annual Meeting in London showcased the EBRD’s proactive approach to addressing global challenges and its unwavering commitment to fostering sustainable economic development. The resolutions adopted and initiatives launched during the meeting are commendable steps toward a more inclusive and resilient global economy.