European Bank for Reconstruction and Development

HC Deb 10 January 1996 vol 269 c225W

Mr. Booth

To ask the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on Britain's participation in EBRD. [6865]

Mr. Hanley

We fully support the European bank for reconstruction and development which has made impressive progress over the last two years under President Larosière. To enable it to continue its highly regarded work in promoting transition and private sector development in the countries of central and eastern Europe and the former Soviet Union, we are participating actively in current discussions on a capital replenishment. The UK shareholding in the EBRD is 8.5 per cent. or 850 million ECU.