Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-01-16-Speech-4-020"
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"en.20030116.1.4-020"2
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"Mr President, the EBRD is funded by the taxpayer, which is why transparency must be established in respect of its activities. As the European Parliament, we attempted this from the outset during the Bank's start-up phase, and I must say it has not always been a success story; the Bank has also been through some very difficult times. Even in Parliament, opinions were divided as to whether we should indeed still have our own bank. This too must play a part in today's debate.
Mr Lemierre, you have described the Bank's task as being a ‘classical’ general interest service which, however, makes use of private-sector intervention instruments. This is undoubtedly an apt description and we must test its activities to determine to what extent this is actually being realised. You are undoubtedly in a difficult position because the development of the private sector, as an outcome of successful transformation processes in the states where you operate, fails above all because there is no fully functioning financial sector, which means that the financial conditions for business start-ups and operations are very difficult. For this reason, I welcome the fact that you have concentrated 30% of your resources on this sector. I also recognise that your activities in the promotion of small and medium-sized businesses are important to a functioning market economy and to the development of democracy.
However, what is also important is to see how stability can be achieved in these countries. How can we facilitate economic growth through investment? That is an issue which constantly occupies our minds in the European Union as well. In my view, it is especially important that you can take risks which others cannot take, and that this willingness to take risks does not conflict with sound and reliable management. This is reflected in the high rating the Bank has received from rating agencies. The Bank is unique among multilateral development banks in having a political mandate. Its task is to contribute to a social market economy, democracy, pluralism and the rule of law. In this context, you should focus even more strongly on ensuring respect for human rights and democratic principles. You should deny support, to an even greater extent than before, to states and companies which engage in unfair practices and in which there is corruption and mismanagement. This should also apply to failure to comply with the objectives of environmentally sound, socially compatible and sustainable development.
The EBRD is still operational in Central and Eastern Europe. These states' accession to the EU will open up many investment opportunities, which will not be available to other states. For this reason, it is worth considering whether the current division of responsibilities between the EBRD, the EIB and the World Bank should be reviewed, including in geographical terms, despite their clear mandates, for the future success of the transformations in the former CIS republics will contribute not only to economic and political stability in these countries, but will also have an impact on the European Union and other regions of the world. The transformation processes in all countries require further joint efforts and financial support, and this includes the accession countries as well. However, it is the most underdeveloped countries that pose the greatest risk of instability. In my view, Mr President, this is a fresh challenge for the EBRD!"@en1
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