EBRD takes a major step forward with plans in response to the Arab spring

The European Bank for Reconstruction and Development has taken a major step forward in responding to the historic changes brought about by the Arab Spring in 2011. The Bank's Board of Directors has made a recommendation to extend the geographic scope of the EBRD's operations to the countries of the southern and eastern Mediterranean.

This follows requests from Egypt and Morocco, both founding members of the EBRD, to become recipient countries of the Bank. The Board of Directors has also recommended that Tunisia become a member of the Bank, following the country's application at the end of last month. Furthermore, a letter of interest has been received from Jordan.

• Primary Source

EBRD: Press Release, 20.5.11: EBRD shareholders take steps towards supporting emerging Arab democracies http://www.ebrd.com/english/pages/news/press/2011/110521b.shtml

EBRD: Press Release, 24.6.11: Tunisia requests membership of EBRD http://www.ebrd.com/english/pages/news/press/2011/110624b.shtml

EBRD: Press Release, 6.8.11: EBRD President Mirow sees possible annual investments in North Africa of up to €3 billion http://www.ebrd.com/english/pages/news/press/2011/110506.shtml

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