The European Bank for "Reconstruction and Development" is expanding in Iraq

[yota691]

The European Bank for "Reconstruction and Development" is expanding in Iraq

2023-05-18 07:44

 

 

Shafaq News / The European Bank for Reconstruction and Development announced, on Thursday, the shareholders' approval of the bank's expansion in Iraq and Africa, while confirming a study of a proposal to increase the capital by between three and five billion euros.

 

"A detailed proposal for increasing the paid-up capital will be prepared by the end of this year," the bank said, in a statement, pledging at the same time to "more support for war-torn Ukraine."

 

The loan, which focuses on emerging markets, has already allocated 3 billion euros to Ukraine and is to be invested in 2022-23.

 

The bank's president, Odile Reno Basso, said during the bank's annual meeting that the assistance would continue, and that the increase in paid-up capital would give the bank the way to maintain this level of investment.

 

Last March, the European Bank for Reconstruction and Development announced the allocation of $1.6 billion over the next two years to support reconstruction and recovery in areas hit by the earthquake in Turkey three months ago.

[6ly410]

European bank announces the approval of its shareholders to expand in Iraq

Economic News Agency - European bank announces the approval of its shareholders to expand in Iraq (economy-news.net)

   

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Economy News-Baghdad

The European Bank for Reconstruction and Development announced on Thursday the approval of shareholders for the bank's expansion in Iraq and Africa, while confirming the study of a proposal to increase the capital by between three and five billion euros.

"A detailed proposal on the paid-up capital increase will be prepared by the end of this year," the bank said in a statement, while pledging "more support for war-torn Ukraine."

The emerging-market loan has already allocated three billion euros to Ukraine to be invested in 2022-23.

Bank President Odile Renaud Basso said at the bank's annual meeting that assistance would continue, and that the paid-up capital increase would give the bank the way to maintain that level of investment.

In March, the European Bank for Reconstruction and Development announced $1.6 billion over the next two years to support reconstruction and recovery in the earthquake-hit areas of Turkey three months ago.

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Added 2023/05/18 - 3:52 PM

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[haymon]

Man, if I could only get a hold of my stock broker in Iraq.