Thank you, Mr President.
I want to take this opportunity to thank the rapporteur for his work. His report makes an important contribution to the ongoing debate about the implementation of the EBRD’s new strategic directions that were agreed to in May 2006, together with the third capital resources review. This is moving the bank decisively toward greater engagement in mid and early transition countries – a move that Canada strongly supports. Mr Gasóliba i Böhm’s report indicates key areas where the bank can make a contribution.
I do, however, believe that the report and the draft resolution do not sufficiently take into account the explicit political mandate of the EBRD: to support the transition to democratically governed market economies. As is stated in Article 1 of the agreement that established the EBRD, “the purpose of the bank shall be to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative in the Central and Eastern European countries committed to and applying the principles of multi-party democracy, pluralism and market economics”.
In my view, that linking of support for economic development to a commitment to democracy, good governance and human rights provides a strong basis for the Assembly’s ongoing dialogue with the EBRD, as the Council of Europe brings a strong track record to the table in this area. It is also one of the main reasons why the Canadian Government continues to be so involved in the work of the EBRD. While we believe strongly in the intrinsic value of democracy and human rights, we are equally convinced that there is a strong, positive relationship between progress in economic transition and the establishment of strong, democratic institutions. Having said that, I should add that engagement is also important, and can be used as a tool to advance political objectives.
In Canada, I have argued that the best social policy is a job. Individuals involved in the economic life of a nation will tend to be more productive contributors to political and social cohesion in their home country. In that context, the EBRD should continue to promote micro-credit programmes to encourage more active participation by all segments of society – especially women – in economic development. Small businesses are the engine of job creation and as such they need the support of the EBRD, as do the people who seek to establish new businesses. As Muhammad Yunus of Bangladesh clearly demonstrated at the Grameen Bank, loan collateral is not a prerequisite for effective and successful micro-credit for the poor.
The shift in EBRD operations to south-eastern Europe and the former Soviet Union, where more significant transition challenges remain, seems to be moving in a wise direction. At the same time, the bank must increasingly address the challenge posed by corrupt individuals in both the public and private sectors. Parliamentarians can and should join in the fight against corruption and money laundering. This Organisation is already engaged here in Strasbourg, as is the Global Organisation of Parliamentarians Against Corruption, or GOPAC, which has 900 members worldwide in over 90 countries in all regions of the world. It consists of parliamentarians who are committed to the fight against corruption and money laundering.
Given the current geopolitical context, I think we have a unique opportunity to support sustainable and environmentally sound energy development projects, and also to support private-public partnerships for infrastructure investments.
The EBRD has clearly played, and should continue to play, a vital role in fostering the transition towards open, market-oriented economies, and to promote private and entrepreneurial initiative in countries that are committed to the fundamental principles of multi-party democracy, pluralism and market economics. That mission, coupled with a commitment to the principles of additionality and transition impact, will ensure that the EBRD has a lasting impact and continues to be a positive force for change in Europe.