Iraq joined EBRD
Iraq became a member of the European Bank for Reconstruction and Development (EBRD), TASS reports
The credit institution headquartered in London has provided information on its new member. As reported, Iraq applied for the EBRD membership in April 2018, and its request was approved by the Board of Directors in October 2020. The process of approving a new member is over by now, and the number of the bank’s shareholders makes 74, including the EU and the European Investment Bank.
“I am glad to welcome Iraq as a member of the bank. We are fully committed to co-operation with this country. We look forward to the opportunity to start working in Iraq when the time comes, applying our expertise to the development of the country,” the President of the EBRD, Odile Renaud-Basso, said.
It is also informed that the Iraqi authorities may apply for the status of a recipient country of the bank's funds in order to gain access to financing and expertise of the institution's experts. Such a request should be considered by the bank's shareholders in a separate procedure.
The EBRD has been operating in the Southern and Eastern Mediterranean since 2012, including Egypt, Jordan, Morocco and Tunisia. In 2017, Lebanon joined its shareholders, and the territories in the West Bank and the Gaza Strip did the same.
According to the website of Belarus’ President, the country has been a member of the European Bank for Reconstruction and Development since 1992. Belarus owns about 0.2 percent of the total number of shares.
