Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-272-000"
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"en.20111012.19.3-272-000"2
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"Madam President, increasing the capital of the European Bank for Reconstruction and Development (EBRD), and hence also increasing the number of shares held by the EU in order to maintain a constant holding of about 3%, is, in itself, acceptable. I would like to take this opportunity, however, to draw attention to certain problems relating to projects funded by the EBRD.
Although the volume of loans provided by the Bank was increased during the crisis, and its area of operation was enlarged, doubts persist as to the sustainability of its project funding. Funding is often provided for projects with negative social and environmental impacts. Also, although the EBRD has increased its funding of energy efficiency projects in recent years, it continues to invest in a completely contrasting spectrum of projects.
In addition to constantly increasing the volume of funding we make available to the EBRD, we should therefore, as shareholders, think about how these resources are being used. I know we will not change much in today’s debate, but I would like to call on those in authority particularly to address the quality of the EBRD’s investment strategy."@en1
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