§ Mr. WorthingtonTo ask the Secretary of State for Foreign and Commonwealth Affairs what is his share of voting power at the European Bank for Reconstruction and Development.
§ Mr. BaldryThe United Kingdom's current share is 8.97 per cent.
§ Mr. WorthingtonTo ask the Secretary of State for Foreign and Commonwealth Affairs in what ways the policy of the European Bank for Reconstruction and Development differs from that of the World bank or other Government-funded development banks.
§ Mr. BaldryThe EBRD and the World bank work closely in the countries of central and eastern Europe and the former Soviet Union to foster the transition towards open, market-oriented economies. The EBRD has a specific remit to promote private and entrepreneurial initiative and provides project finance only. It is not involved in policy-based sector or balance of payments lending.
§ Mr. WorthingtonTo ask the Secretary of State for Foreign and Commonwealth Affairs to what extent the 305W European Bank for Reconstruction and Development invests in projects of human resource development including education and health initiatives.
§ Mr. BaldryThe bank supports regional training institutions relevant to its project investments and provides consultancy support to individual enterprises to develop management capacity. The education and health sectors are not priority areas for the bank.