European Bank for Reconstruction and Development (EBRD) shareholders voted this week to approve Iraq’s membership, paving a path for Iraq to become a ‘recipient country’ and potentially receive crucial project finance for much-needed investment. 

The EBRD has been a key financier in the Mena region in recent years (MEES, 28 February), playing an important role in Morocco, Jordan, and particularly Egypt where it offered up $250mn for a refinery project this week (MEES, 9 October). (CONTINUED - 133 WORDS)