Summary for the United States by Andy Baukol at the 32nd Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development:
The United States expresses gratitude to Uzbekistan for hosting the meeting and emphasizes the importance of the EBRD’s mission in the current global context. Two significant decisions are poised for approval, aiming to extend the EBRD’s private sector-focused model to sub-Saharan Africa and Iraq, and potentially increase the bank’s capital base to support Ukraine and other countries. The United States stands firmly with Ukraine against Russia’s aggression and calls for Russia’s immediate withdrawal from Ukrainian territory. The U.S. pledges continued support to Ukraine through security, humanitarian, and economic assistance. The United States recognizes the EBRD’s role in Ukraine’s recovery and advocates for a comprehensive discussion on the bank’s future strategic role. The U.S. supports expanding the EBRD’s geographic scope to sub-Saharan Africa and Iraq, leveraging the bank’s expertise and experience to foster private sector growth. Amid rising global risks, the EBRD should prioritize its least advanced countries of operation, while maintaining a focus on climate action, gender equality, inclusive transition efforts, and food security. The United States applauds the EBRD’s achievements in these areas and encourages increased private capital mobilization and transparency. Finally, the U.S. supports the implementation of the G20 Capital Adequacy Framework review and urges exploration of innovative tools to optimize existing resources and enhance flexibility. The United States reaffirms its partnership with the EBRD and commitment to sustainable, inclusive, and market-driven development.