European Bank for Reconstruction and Development
Headquartered in London, the EBRD is owned by 69 countries and two EU institutions. The biggest share holder is the U.S. Other big investors include the U.K., Germany, France, Italy, and Japan; followed by Spain, Russia, and Canada (source).
The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focused on the countries of the former Eastern Bloc it expanded to support development in more than 30 countries from Central Europe to Central Asia.
The EBRD has been criticized for not being "Green". Basically, Banksters want to make profits and control the world; and they only use the "green" agenda when it suits them for the above two goals.
And while there is a lot of geopolitics making headlines, behind the scenes, Banksters from around the world hob-knob together β making predictions (or telling us the roadmap ahead):
Mediterranean economies expected to grow by 3.5% in 2021 with mounting fiscal pressures amid pandemic: EBRD
Output in the southern and eastern Mediterranean region, where Egypt is located, is projected to grow by 3.5 percent in 2021...In its updated report on the regional economic prospects, which covers the economies where the EBRD operates, the regionβs growth is expected to increase to 4.6 percent in 2022...
This growth was driven by improvements in wholesale and retail trade, agriculture, telecommunications, and construction.
βThe boom in the telecommunications sector will continue to sustain growth, falling unemployment rates will support consumption, and private investment and foreign direct investment (FDI) flows will pick up. However, risks include a slow uptake of vaccination, the weak outlook in the tourism sector in view of a probable global delay in tourism recovery, as well as the slowing momentum of major projects implemented in different parts of the country,β the report explained.
Its first head, Jacques Attali advocated for the establishment of a global rule of law, which will condition the survival of democracy through the creation of a new global order.
Its current head Odile Renaud-Basso touts "green" goals; β "The EBRD is pushing ahead and is looking at being fully aligned with the goals of the Paris accord by the end of next year... The EBRD chief also wants the bank to "better support" countries' **digital transformations brought on by the pandemic... The Covid crisis has accelerated the digitalization of the economies and we see that everywhere," she said.
2015 β China joined the European Bank for Reconstruction and Development β For China, its membership in the EBRD represents its growing influence as a formidable investment partner in several regions around the world.
Some History - EBRD Rap Sheet:
Some NGOs have criticized the EBRD for financing projects they consider to be environmentally and socially harmful. Although it has increased its investments into energy efficiency and sustainable energy in recent years, these NGOs consider the bank continues to diminish the impacts of green investments by financing carbon-intensive development such as coal, oil and gas production, transportation and generation, motorways, and airports.
