§ Ross CranstonTo ask the Secretary of State for International Development if the Government support a continued role for the European Bank for Reconstruction and Development in the EU candidate countries after accession. [73472]
§ Clare ShortYes. We have refined the view taken in the UK's institutional strategy paper for the European Bank for Reconstruction and Development (EBRD) that accession to the EU would complete transition for eligible countries and should trigger a graduation from EBRD operations. We now consider that there will still be important transition challenges in less advanced sectors of the countries of Central Europe and the Baltics after they join the EU. Working within its three key principles—transition impact, additionality and sound banking—the EBRD will continue to have a role assisting the countries address these challenges. The UK believes that the EBRD should take a strategic approach, co-ordinating closely with other public institutions and working to widen the benefits of transition to those who have benefited least.