On the extension of the EBRD operations to the Southern and Eastern Mediterranean

Commenting on the adoption of the report extending the geographic scope of the European Bank for Reconstruction and Development (EBRD) to the Southern and Eastern Mediterranean, EP President Schulz, who also chairs the Parliamentary Assembly of the Union for the Mediterranean until March 2013, stated:

"The European Parliament is serious about assisting democratic transition in post Arab Spring countries. I welcome the fact that this report has been brought through the ordinary legislative procedure at record speed.

For democracy to succeed in the region, we need a real prospect of shared prosperity. In the difficult economic juncture Europe is facing, all forces, institutions and available instruments must be mobilised to make the transition successful.

The European Bank for Reconstruction and Development, with its strong record and expertise, has a key role to play in matching investment projects with governments' priorities."

Note to editors:

The final text of the resolution on the proposal for a decision of the European Parliament and of the Council on amendments to the Agreement Establishing the European Bank for Reconstruction and Development (EBRD) extending the geographic scope of EBRD operations to the Southern and Eastern Mediterranean will be available here under "adopted text":

http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&reference=A7-2012-0142&language=EN