Transforming Markets

A Development Bank for the 21st Century – A History of the EBRD, Volume 2
book cover for Transforming Markets
$35.00 / €29.00 / £25.00
Open Access (CC licence CC-BY-NC-ND)
2021, 496 pages, 41 photos
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The second volume of the history of the European Bank for Reconstruction and Development (EBRD) takes up the story of how the Bank has become an indispensable part of the international financial architecture. It tracks the rollercoaster ride during this period, including the Bank's crucial coordinating role in response to global and regional crises, the calls for its presence as an investor in Turkey, the Middle East and North Africa and later Greece and Cyprus, as well as the consequences of conflicts within its original region. It shows how in the face of the growing threat of global warming the EBRD, working mainly with the private sector, developed a sustainable energy business model to tackle climate change.

Transforming Markets also examines how the EBRD broadened its investment criteria, arguing that transition towards sustainable economies requires market qualities that are not only competitive and integrated but which are also resilient, well-governed, green and more inclusive. This approach is aligned with the 2015 Paris Agreement and the international community's 2030 Agenda for Sustainable Development, with its core set of 17 sustainable development goals. The story of the EBRD's own transition and rich history provides a route map for building the sustainable markets necessary for future growth and prosperity.

List of Abbreviations
Foreword by Odile Renaud-Basso, President of the EBRD 

PART I An Evolving Landscape
Chapter 1 Pivot to Turkey 
Chapter 2 Markets in Crisis 
Chapter 3 Arab Spring 
Chapter 4 Operations in Greece and Cyprus 
Chapter 5 Geopolitical Tensions 

PART II Towards Sustainable Market Economies
Chapter 6 Rethinking Transition 
Chapter 7 Equality of Opportunity 
Chapter 8 Supporting Resilience and Good Governance 
Chapter 9 A Better Climate 

PART III The Role of the EBRD
Chapter 10 The EBRD after 30 Years