LONDON, May 15 (Reuters) - The European Bank for

Reconstruction and Development (EBRD) has cleared new member

states Nigeria, Ivory Coast and Benin for investments following

approval by the development finance institution's board, it said

on Thursday.

The move will give the countries access to millions of euros

in potential investments from EBRD, cementing an expansion into

Sub-Saharan Africa by the lender that has been in the works for

years.

"The EBRD will leverage its financial resources and

expertise to boost the countries' economies and provide new

opportunities to their people, complementing the work of

existing development partners," EBRD President Odile

Renaud-Basso said in a statement.

At its annual meeting on Thursday, the EBRD board formally

voted to approve recipient country status for the three West

African nations.

Investments will begin shortly after an amendment to the

EBRD's founding treaty comes into force in July, the bank said.

Kenya, Ghana and Senegal are also being considered for

membership but still must meet some pre-membership requirements

before the process is fully concluded.

The bank was formed in 1991 to help rebuild Eastern Europe

in the wake of the Cold War and has since expanded into the

Middle East, North Africa and Mongolia. It has invested more

than 200 billion euros ($223.72 billion) since its creation and

supports policy reforms to develop the private sector.

It partners with the private sector to enable investments in

natural resources, financial institutions, agriculture and

infrastructure.

Renaud-Basso said the bank will focus on supporting the

green transition, strengthening economic governance and

promoting human resilience, including equal opportunity.

($1 = 0.8940 euros)