31st Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD)
The Secretariat of State for Finance and Budget reports on the 31st Annual Meeting and Business Forum of the European Bank for Reconstruction and Development held from 10 to 12 May in the Moroccan city of Marrakech under the high patronage of Her Majesty King Mohammed VI, with the theme “Responding to Challenges in a Turbulent World”. After two years of pandemic restrictions, the Republic of Marino was represented by the Alternate Governor, Dr. Nicola Ceccaroli, who participated in the Ukrainian Round Table in the Plenary Session of the Annual Meeting focused on the war in Ukraine. In accordance with art. 8.3 of the founding act, Russia and Belarus were previously suspended from accessing the Bank’s resources with the closure of the resident offices in Moscow and Minsk; the Board of Governors, therefore, expressed to Ukraine and expressed support for the EBRD in responding to the serious crisis in progress.
Indeed, the Bank has adopted a package of financial measures up to Ukraine EUR 2 billion in favor of businesses, local authorities and other organizations in Ukraine and other neighboring countries, commercial security for essential goods, energy and food security, infrastructure vital and other initiatives in favor of the refugee population (EBRD Resilience Package). In addition, the Bank has mobilized commitments for donations amounting to EUR 1 billion and announced that it will take an active part in post-war reconstruction when conditions permit.
The Board of Governors also adopted the motion for a resolution on the Strategic Capital Plan 2021 – 2025 for the possible, “limited and incremental” enlargement of the geographical scope of intervention in sub-Saharan Africa and Iraq, on condition that it does not reduce the activities of the Bank in other countries and does not compromise its highest rating (AAA). In 2021, the EBRD recorded bank investments of EUR 10.4 billion on 413 projects, with a focus on the private sector, of which 51% for the ecological transition in line with the Paris Agreement on climate change by the end of 2022. The Bank it achieved record profits of EUR 2.5 billion, including EUR 1.7 billion from equity revaluations, for a net worth of EUR 20.3 billion. The EBRD has 73 countries, 38 of which are operational, as well as the European Union (EU) and the European Investment Bank (EIB); the Republic of San Marino became the 70th member on 7 June 2019, through the procedure of 203 shares for a share of approximately 0.007% of the capital.