Multilateral Development Banks Comparison Report 2026
Global Risk and Finance Forum / Asian Development Bank
Multilateral institutions
European Bank for Reconstruction and Development
ShareholderInternational · Europe, Central Asia, Mediterranean, Iraq and selected sub-Saharan African countries
A Treasury-held multilateral shareholding. The UK also funds programmes and guarantees through other departments, so the institution has more than one UK financial relationship.
- UK ownership or participation
- €2.900bn subscribed · page checked 16 Sep 2026
- Lead department or body
- HM Treasury
- UK voting rights
- Current percentage not yet verified
- Mandate
- Investment supporting market economies and private enterprise.
UK financial position
UK total capital subscription€2.900bnPage checked 16 Sep 2026
Official shareholder listing; total subscription includes callable and paid-in components.
Underlying source ↗UK callable capital€2.0bn31 Mar 2026
Rounded Treasury disclosure; contingent, not paid cash.
Underlying source ↗Additional capital still payable€275m31 Mar 2026
Outstanding portion of the 34,360-share subscription; instalments began April 2025.
Underlying source ↗Accounting values, paid-in capital and funding commitments have different meanings and reporting dates. These figures are not added together.
Ownership and accountability
HM Treasury leads the shareholding; the Chancellor is the UK Governor. EBRD has a UK Board Director office. FCDO also supports specific programmes and guarantees.
Research hub
11 publications relevant to EBRD · Institution-specific research shown first
Default and Recovery Statistics — Private Lending 1994–2025
GEMs Consortium
Does Market Impact Matter for MDB and DFI Private Investment Decisions?
Center for Global Development
News and announcements
View in News and announcements →- UK announces £17 million for EBRD-coordinated Chornobyl repairs ↗
The UK has announced £17 million towards repairs to the protective structure at Chornobyl, damaged by a Russian drone attack. The funding forms part of an international repair programme coordinated by EBRD with Ukraine and G7 donors. It concerns nuclear-safety programme funding rather than the UK’s share capital in the bank.
- GEMs adds evidence on development-bank lending risk and credit spreads ↗
The consortium’s new private-lending report examines pooled default and recovery experience and pilots analysis of contractual credit spreads. BII, IFC and EBRD belong to GEMs. The results can inform shareholder scrutiny and private-investor risk assessment, but do not represent returns on the UK’s holdings.
View in Research hub → - CGD reviews how development banks assess market impact ↗
Reviews public information on 17 institutions’ market-impact methodologies, targets, incentives and reporting. The authors find substantial differences and gaps in the evidence shareholders can use to assess how investment decisions affect markets.
View in Research hub → - Development banks revise how they measure mobilisation and private finance ↗
BII, through EDFI, and UK-backed multilateral banks are covered by a new joint methodology package. It updates mobilisation rules and adds a separate generation measure for institution-backed finance; work on catalysation continues. The guides require these different indicators to remain separate. No new UK financial commitment is announced.
View in Research hub → - CGD commentary proposes UK-led scrutiny of MDB private-capital results ↗
Svenstrup argues that shareholders should examine additionality, risk-taking and where finance reaches alongside mobilisation totals. She proposes using the UK’s G20 presidency to review MDB private-sector business models and identify reforms.
View in Research hub → - ODI authors ask whether risk transfer leads to more development finance ↗
Herman Bril, Martin Koehring and Hans Peter Lankes examine risk transfer and loan distribution, including IFC transactions involving UK public capital. They propose tests of who bears risk, how released capacity is used and whether lending changes. The article offers an analytical argument rather than evidence that additional finance has already resulted.
View in Research hub → - OECD examines how shareholders can strengthen private capital mobilisation ↗
New OECD research examines mandates, risk frameworks and staff incentives across development banks and DFIs, including BII and UK-backed multilaterals. It argues that mobilisation targets need to account for additionality and harder markets.
View in Research hub → - Treasury reports its EBRD and AIIB financial interests ↗
The annual accounts show €275m remained payable at March 2026 under the additional share subscription. The annual accounts report a £562m shareholding value and explain the separate callable-capital obligation.
View AIIB profile → - UK confirms £20m for MIGA and £5m for EBRD Ukraine insurance ↗
A parliamentary answer confirmed funding to expand political-risk and violence insurance for investment projects in Ukraine. Treasury reported funding for a complementary war-risk insurance initiative for firms already operating in Ukraine.
View MIGA profile →