The European Bank for Reconstruction and Development (EBRD) is giving its shareholders more breathing room to fulfill their financial commitments to a 2023 capital expansion plan. The extension, announced by EBRD President Odile Renaud-Basso on Monday, gives key stakeholders — including its top shareholder, the United States — until the end of 2025 to make good on their pledges.

So far, just over 60% of the institution’s 75 members — a group that includes Japan and nearly all EU nations — have either completed or begun the payment process for the recapitalization approved late last year. The remaining shareholders, including the U.S. with its 10% stake, now have a fresh deadline.

“We’ve extended the subscription period through year-end,” Renaud-Basso said ahead of the EBRD’s annual summit in London. “Setting deadlines is often a way to create momentum — but we’re always prepared to push them back when necessary.”

The U.S. Treasury has yet to comment on its contribution, which has become a focal point amid shifting attitudes in Washington toward global development financing. Under former President Donald Trump, U.S. support for institutions like the EBRD and World Bank cooled, with development spending scaled back or reallocated.The U.S. is currently expected to contribute $3.2 billion to the World Bank’s International Development Association — falling short of the full $4 billion promised under President Joe Biden. The decision has raised questions about Washington’s broader commitment to multilateral lending institutions.

Despite the uncertainty, Renaud-Basso stressed that the EBRD remains in robust health. “Our financial foundation is extremely strong — we’ve seen excellent results since 2023,” she said. Even if the U.S. chooses not to subscribe to the capital increase, it will retain its status as the largest shareholder, though its proportional stake would shrink relative to others.

She reaffirmed that the EBRD will stay focused on core development priorities such as clean energy, climate resilience, and gender equity — including initiatives to support women entrepreneurs. These themes have sometimes clashed with political objections from the Trump administration, which has questioned the role of climate finance at other global banks.

“Our green investments are based on solid economic logic — enhancing energy efficiency and energy security,” Renaud-Basso noted.

In addition to financial updates, the EBRD is poised to broaden its geographic footprint. The board is expected to greenlight the bank’s expansion into Nigeria, Ivory Coast, and Benin, extending its influence deeper into Sub-Saharan Africa.

Renaud-Basso emphasized that global instability — from trade disputes to geopolitical flashpoints like Ukraine — makes institutions like the EBRD more critical than ever.

“We are operating in a world of heightened uncertainty,” she said. “That only reinforces the need for strong, responsive development finance institutions.”