{"id":1937,"date":"2023-11-17T14:00:04","date_gmt":"2023-11-17T12:00:04","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=1937"},"modified":"2023-11-17T14:00:04","modified_gmt":"2023-11-17T12:00:04","slug":"the-european-bank-for-reconstruction-and-development-welcomes-iraq-as-its-latest-member","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=1937&lang=en","title":{"rendered":"the European Bank for Reconstruction and Development welcomes Iraq as its latest member"},"content":{"rendered":"<p style=\"font-weight: 400\">Iraq has become the latest member of the European Bank for Reconstruction and Development (EBRD), bringing its total number of shareholders to 74.<\/p>\n<p style=\"font-weight: 400\">Iraq originally submitted a request to join the Bank in April 2018 and the Board of Governors\u00a0<a href=\"https:\/\/www.ebrd.com\/news\/2020\/ebrd-shareholders-approve-membership-of-iraq.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/news\/2020\/ebrd-shareholders-approve-membership-of-iraq.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw267Gmr94exbW2kWKt-I9Ph\">approved its membership in October 2020<\/a>. The process of becoming a shareholder is now concluded.<\/p>\n<p style=\"font-weight: 400\">As a shareholder, Iraq can apply to become a recipient economy, thereby benefiting from the EBRD\u2019s finance and policy support. Such a request would be reviewed by shareholders in a separate process.<\/p>\n<p style=\"font-weight: 400\">At this year\u2019s EBRD Annual Meeting in Samarkand, the Board of Governors approved an amendment to the\u00a0<a href=\"https:\/\/www.ebrd.com\/news\/publications\/institutional-documents\/basic-documents-of-the-ebrd.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/news\/publications\/institutional-documents\/basic-documents-of-the-ebrd.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw3hJWUFQCRpNV0J-E6srA9i\">Agreement Establishing the Bank<\/a>\u00a0to allow the expansion of the Bank\u2019s operations to Iraq. Once the amendment is in force, the Bank will be in a position to take forward any request from Iraq to become a country of operation.<\/p>\n<p style=\"font-weight: 400\">The Governors\u2019 Resolution in Samarkand also folded Iraq into the Bank\u2019s southern and eastern Mediterranean (SEMED) region, to which the country has strong economic links.<\/p>\n<p style=\"font-weight: 400\">EBRD President Odile Renaud-Basso, said: \u201cI am delighted to welcome Iraq as a member of the Bank. We are fully committed to engaging with the country.\u00a0When the time comes, we are looking forward to starting work in Iraq, applying our expertise to developing its economy.\u201d<\/p>\n<p style=\"font-weight: 400\">The Bank first started to operate in the SEMED region in 2012, launching activities in\u00a0<a href=\"https:\/\/www.ebrd.com\/egypt.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/egypt.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw1YX0BZYWsUMekqXiWt9mHN\">Egypt<\/a>,\u00a0<a href=\"https:\/\/www.ebrd.com\/jordan.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/jordan.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw3zuaHbEm5xOOx3RONN2a25\">Jordan<\/a>,\u00a0<a href=\"https:\/\/www.ebrd.com\/morocco.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/morocco.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw3SZl9aSOjCPiy0mXikd7L-\">Morocco<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.ebrd.com\/tunisia.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/tunisia.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw2rkI8dym3r6f8OrE-ZcIbB\">Tunisia<\/a>. In 2017, operations were extended to\u00a0<a href=\"https:\/\/www.ebrd.com\/lebanon.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/lebanon.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw2nralgJHulgsXqxVmnfZXJ\">Lebanon<\/a>\u00a0and the\u00a0<a href=\"https:\/\/www.ebrd.com\/west-bank-and-gaza.html\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.ebrd.com\/west-bank-and-gaza.html&amp;source=gmail&amp;ust=1700307317703000&amp;usg=AOvVaw2ykwn6dL87pnWqVvokU2ar\">West Bank and Gaza<\/a>.<\/p>\n<p style=\"font-weight: 400\">The EBRD now has 72 national shareholders in addition to the European Union and the European Investment Bank.<\/p>\n<p style=\"font-weight: 400\">The EBRD supports countries in transition, using a combination of investment, advisory work and policy reform. It focuses on developing the private sector and bringing sustainable change, leaving an enduring legacy for a better future. The Bank is currently focusing its efforts on supporting Ukraine, while helping all of its economies to become greener, more inclusive and more digital<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iraq has become the latest member of the European Bank for Reconstruction and Development (EBRD), bringing its total number of shareholders to 74. Iraq originally submitted a request to join the Bank in April 2018 and the Board of Governors\u00a0approved its membership in October 2020. The process of becoming a shareholder is now concluded. As [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,47,168,130,15],"tags":[2800,2796,2798],"class_list":["post-1937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-countries-en","category-banks-insurance-en","category-country","category-featured-en","category-press-releases","tag-finance-and-policy-support","tag-iraq","tag-the-european-bank-for-reconstruction-and-development"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>the European Bank for Reconstruction and Development welcomes Iraq as its latest member - sahfy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sahfy.net\/news\/?p=1937&lang=en\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"the European Bank for Reconstruction and Development welcomes Iraq as its latest member - sahfy\" \/>\n<meta property=\"og:description\" content=\"Iraq has become the latest member of the European Bank for Reconstruction and Development (EBRD), bringing its total number of shareholders to 74. Iraq originally submitted a request to join the Bank in April 2018 and the Board of Governors\u00a0approved its membership in October 2020. The process of becoming a shareholder is now concluded. 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