Strasbourg, 13/01/2003 (Agence Europe) - In plenary on Thursday, the European Parliament will be discussing the report by Helmuth Markov (GUE/NGL, Germany) to he activities of the European Bank for Reconstruction and Development (EBRD) that was unanimously adopted by the European Parliament's Economic and Monetary Committee on 28 November 2002. The report notes with satisfaction that unlike various other public investment banks, the EBRD is involved in more than 800 politically motivated prestigious projects. It invites other multilateral development banks to take a lead from the EBRD's pragmatism.
Helmuth Markov hails the EBRD's audacity, asserting that a vital part of the mandate of a public bank is to commit itself to projects that are considered too risky by private banks. He believes that a greater risk taking capacity necessarily leads to greater research and implementation efforts which can only strengthen the bank's competency in terms of knowledge and action. He notes that the know-how and skills of the EBRD's staff are universally acknowledged and appreciated. The report notes that promoting the development of SMEs is part of the EBRD's mandate and highlights the particular role played by SMEs in the creation and guarantee of training and jobs. Markov therefore hopes that through greater commitment, the EBRD will help strengthen SMEs' own capital base, particularly in Russia where only 10% of the working population is currently employed by an SME. The report welcomes the excellent outcome of micro-funding, supporting the EBRD's plans to extend the programme to all the countries concerned. The rapporteur believes the EBRD should adapt its policy to local needs rather than operating on a one-size-fits-all basis, and should respect the political decision of democratically elected governments by not influencing the breakdown of funding between the public and private sector in countries. He welcomes the EBRD's commitment to nuclear safety and calls on the bank, where possible, to invest more heavily in projects involving the use of alternative energy sources.