24/06/2008 Session
Strasbourg, 24.06.2008 - Today the Assembly highlighted the excellent results the European Bank for Reconstruction and Development (EBRD) achieved over the 2007 financial year, despite turbulent world financial markets and the fact that most of its operations take place in countries with higher risk profiles. In a resolution adopted today, it welcomed the EBRD's decision to reinvest a large share of its profits in the neediest countries, giving priority to small and medium-sized enterprises and entrepreneurship.
The Rapporteur of the Committee on Economic Affairs and Development, Maximiano Martins (Portugal, SOC), pointed out that the EBRD, which intervenes in central and eastern Europe, south-east Europe and the states of the CIS, undeniably makes for modernisation and change in the transition countries, by building confidence, providing policy advice, transferring know-how and bridging the gap between mentalities in eastern and western Europe.
Since 1992, when the Council of Europe and the EBRD signed a co-operation agreement, the two institutions have developed huge networks and partnerships fostering democratic reform in numerous countries, and they intend to pursue their regular dialogue.