Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Libya has become the fifth ‘transition’ Arab country to join The European Bank for Reconstruction and Development (EBRD). Crisis-hit Cyprus is also eying EBRD cash via a temporary facility.
The admission of Libya to the EBRD this week follows the European development bank’s expansion to other North African countries post-Arab Spring (MEES, 28 May 2012).
The EBRD board approved Libya’s membership on 15 May during the Bank’s Annual Meeting. To become a ‘recipient country’ – ie eligible to receive EBRD loans – Libya needs to pass an EBRD assessment of its political, economic and operational environment.
The EBRD’s four existing Arab members – Egypt, Tunisia, Morocco and Jordan – received a total of €449mn from the EBRD last year, whilst Turkey received €920mn (see table). (CONTINUED - 577 WORDS)
DATA INSIDE THIS ARTICLE
|table||EBRD Investments (€Mn)|