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Parliamentary questions
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19 July 2019
Answer given by Mr Moscovici on behalf of the European Commission
Question reference: E-001898/2019

The Commission is aware that the European Bank for Reconstruction and Development (EBRD) is considering the possibility of supporting the acquisition of a majority stake(1) by a Ukrainian agri-food company of a holding company in Slovenia.

However, at this point in time, discussion on the project has not taken place at the EBRD Board.

The Commission would strongly advise the EBRD against financing of the project in light of environmental, economic, social and reputational concerns. Such concerns have also been expressed by a number of stakeholders. The Commission has shared these concerns with EBRD shareholders, notably all EU Member States, through the EU Director in the EBRD.

The EBRD is a multilateral International Financial Institution (owned by 69 shareholders) acting in accordance with its own unique governance, regulatory and policy framework. In line with the EBRD’s governance rules, project approval decisions are made by the EBRD’s Board of Directors by a majority of the voting power of the members voting.

The EU holds 3% of EBRD’s capital and corresponding voting power, while EU Member States collectively hold over 50% of the voting power.


Last updated: 22 July 2019Legal notice