BRUSSELS — The European Bank for Reconstruction and Development is considering a foray into sub-Saharan Africa.
The announcement came after the board of governors gave the green light this week for the lender to study whether it should expand its operations in the African continent. Meeting in Sarajevo, Bosnia and Herzegovina, for the bank’s annual meeting, the governors backed preparatory work on its 2021-2025 strategic plan, which will be signed off next May.
EBRD president Suma Chakrabarti told reporters Wednesday the process will include analysis of “potential future options for limited and incremental expansion into new countries of operations beyond the geographic scope of the Bank’s mandate … such as a select number of African and other countries that are closely integrated with the Bank’s present geographical scope.”