Governor's Corner

Governor of the Central Bank of Malta attends EBRD’s 30th Annual Meetings

The Governor of the Central Bank of Malta, Prof. Edward Scicluna, attended the EBRD’s 30th Annual Meetings, held on 1 July 2021. This is the key event in the yearly cycle of the EBRD – combining the reunion of the Board of Governors (the EBRD’s highest decision-making body) and the Business Forum (an opportunity to connect with a wide cross-section of business guests from around the world).

Established in 1991, the European Bank for Reconstruction and Development (EBRD) is an institution dedicated to promoting the transition towards a sustainable economy and the emergence of a strong private sector. The EBRD is owned by 69 countries, the European Union and the European Investment Bank. It operates in nearly 40 economies in Europe, Asia and Africa that are committed to and applying the principles of multiparty democracy, pluralism and market economics.

This year marked the 30th Anniversary of the institution. Due to COVID-19 restrictions, the meeting was held virtually and was attended by over 50 delegations. Malta, a founding member of the Bank, is represented on the Board of Governors of the EBRD by the Governor of the Central Bank – Prof. Edward Scicluna – and by the Minister for Finance and Employment Clyde Caruana.

During the meeting of the Board of Governors, several resolutions were approved including a proposal to fully align the activities of the EBRD with the goals of the Paris Agreement no later than 31 December 2022, a proposal to study a limited and incremental expansion of the activities of the institution to Sub-Saharan Africa and Iraq, and several financial and institutional reports.

While addressing the Board of Governors, Prof. Scicluna requested an effort from all the actors from the development community to reflect on initiatives to address the green and digital transitions, arguing that “this is one of the few momentous instances in history when the world cannot afford to get it wrong”. Governor Scicluna also requested the EBRD to cooperate with other Multilateral Development Banks to boost investment in the countries of operations in North Africa, known as SEMED.

Governor of the Central Bank of Malta attends EBRD’s 30th Annual Meetings