“Given our strategic location, links with Africa in general and the Southern Mediterranean in particular are considered a priority by our government with the aim of promoting sustainable investment in the region and in tackling the root causes of migration. We are therefore pleased that the bank has expanded its operations in the remaining North African countries. In this regard, we  note the launch of the EBRD’s first projects in the West Bank and Gaza and Lebanon in 2018, as well as projects in Egypt, Tunisia and Morocco.” This was stated by the Minister for Finance Edward Scicluna when he addressed the 2018 Annual Meeting of the European Bank for Reconstruction and Development (EBRD) held on 9 and 10 May 2018 in Jordan.

King of Jordan Abdullah II, Jordan’s Finance Minister Imad Najib Fakhoury, and Chair of the Board of Governors Sir Suma Chakrabarti, the EBRD President, addressed the opening session of the Meeting.

The board of governors discussed the bank’s strategic and capital framework up to 2020, having the aim of supporting its countries of operations in their efforts to improve their economic prospects through re-energising the process of transition to well-functioning market economies.

The three-year rolling plan sets out how the bank intends to continue to pursue its strategic objectives in the coming years. It was noted how EBRD’s business model and approach is well-equipped to fill the gaps in the global and European financial scenario to fulfil the role to collaborate with other international financial institutions to service the needs of developing countries. A final decision will however be taken at the next EBRD annual meeting in 2019.

The Deputy Governor of the Central Bank of Malta Alessandro Demarco accompanied Minister Scicluna for the annual meeting.

Thursday 10th May 2018