COMMENT: Amid shrinking civic space, will the EBRD still uphold its democratic mandate?

6 June 2025, bne Intellinews

Devex Invested: Unpacking Bill Gates’ pledge to spend $200B by 2045As the global Democracy Index recorded a historic low in 2024, institutions tasked with upholding democratic values are under increasing pressure to adapt. Civil liberties have notably deteriorated, and public trust in governments is eroding, fuelling disengagement and instability. In this context, the role of international financial institutions with a democratic mandate has never been more vital.

The European Bank for Reconstruction and Development (EBRD) was established with a dual mission: to foster market-based economies and support countries transitioning to multi-party democracy and pluralism. This democratic mandate is enshrined in Article 1 of the EBRD’s founding agreement and continues to distinguish its position within the international financial architecture.

As the EBRD expands its operations into new regions, including sub-Saharan Africa and Iraq, will it stay true to its founding mission, and place democracy and civic participation at the heart of its approach?

Read the full op-ed here: bne IntelliNews – COMMENT: Amid shrinking civic space, will the EBRD still uphold its democratic mandate?