Consul Bragagni had the great honour to represent the Republic of San Marino at the 34th Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD), held in London from 13 to 15 May 2025. This year’s 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 at its new headquarters in Canary Wharf, London.
As Head of the San Marino delegation and in his capacity as Alternate Governor for San Marino to the EBRD, Consul Bragagni actively participated in the deliberations and high-level engagements that defined this important gathering. In his formal intervention to the Board of Governors, he expressed San Marino’s full endorsement of the EBRD’s Strategic and Capital Framework (SCF) 2026–2030. He also reminded his fellow governors of the importance of applying democratic values, the importance of supporting the private sector, commended the Bank’s crucial role as a leading investor in Ukraine and affirmed San Marino’s continued support for the EBRD’s mission to promote sustainable, inclusive growth.
In particular, he underlined the importance of ensuring that smaller economies like San Marino remain part of the Bank’s strategic vision, especially in advancing peace, democracy, and private sector-led development.
The approval of the SCF 2026–2030 marked a pivotal outcome of the meeting. The framework reaffirms the Bank’s focus on key priorities such as the green transition, digitalisation, and equality of opportunity. Importantly, it also highlights the EBRD’s readiness to extend its impact by expanding operations into Sub-Saharan Africa. The decision to grant country of operations status to Benin, Côte d’Ivoire, and Nigeria is a historic move that reflects the Bank’s deepening commitment to supporting emerging markets.
Throughout the official sessions and networking engagements, I had the privilege of holding constructive discussions with President Odile Renaud-Basso, the UK Chancellor of the Exchequer, Rt Hon Rachel Reeves MP, and fellow Governors from countries including Portugal, Italy, and Greece. These exchanges provided valuable opportunities to reflect on the Bank’s enduring strengths and its proactive response to today’s global challenges.
The Business Forum further enriched the meeting with insightful panels on global finance, industrial policy, water security, and Africa’s strategic potential. Particular emphasis was placed on the EBRD’s substantial support to Ukraine—with €7 billion invested since 2022, including €2.4 billion in the energy sector—as well as its success in mobilising €26.8 billion in total investments during 2024.
The 2025 Annual Meeting clearly demonstrated the EBRD’s unwavering commitment to its mission and the effectiveness of its partnerships. The resolutions adopted and new initiatives launched represent concrete steps toward a more inclusive, sustainable, and resilient global economy.
San Marino remains fully engaged and committed to supporting the EBRD in delivering on its vital mandate.
