Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-184-500"
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"en.20111013.19.4-184-500"2
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"In May 2010, the Board of Governors of the European Bank for Reconstruction and Development (EBRD) decided to increase its capital by 50%, from EUR 20 billion to EUR 30 billion. It was the first EU financial institution to be created to support economic development in Europe following the break-up of the Soviet Union. Essentially, the EBRD supports the development of the local sector: small and medium-sized enterprises, individuals, towns, regional cooperation, innovation, job creation, energy, environmental projects, and so on. This report, drafted by Ms Bowles, concerns the proposal for a decision by Parliament and the Council on the subscription by the EU to additional shares in the capital of the EBRD, in proportion with the Union’s current 3.031% share in the capital. I agree with and welcome this subscription, with the EU’s increase in capital for the EBRD, as it is an example of the EU’s economic capacity as a shareholder, and I hope that some of this capital will be used to support the development of the countries involved in the so-called ‘Arab Spring’."@en1
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