The European Bank for Reconstruction and Development (Further Payments to Capital Stock) Order 2024
Introduction
The European Bank for Reconstruction and Development (Further Payments to Capital Stock) Order 2024 is a statutory instrument made under the European Communities Act 1972. It was laid before Parliament on December 16, 2024, and came into force on January 1, 2025.
Purpose
The purpose of the Order is to authorize the United Kingdom to make further payments to the capital stock of the European Bank for Reconstruction and Development (EBRD).
Background
The EBRD was established in 1991 to support the development of market economies in Central and Eastern Europe and the former Soviet Union. The United Kingdom is a founding member of the EBRD and has made regular payments to its capital stock.
Payments
The Order authorizes the United Kingdom to make two payments to the EBRD’s capital stock:
- A payment of £100 million in 2025
- A payment of £50 million in 2026
Impact
The payments authorized by the Order will help the EBRD to continue its work in supporting economic development in transition countries. The EBRD’s investments have a positive impact on growth, job creation, and poverty reduction.
Conclusion
The European Bank for Reconstruction and Development (Further Payments to Capital Stock) Order 2024 is an important step in the United Kingdom’s continued support for the EBRD. The Order will help the EBRD to continue its vital work in supporting economic development in transition countries.
The European Bank for Reconstruction and Development (Further Payments to Capital Stock) Order 2024
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
UK New Legislation a new article on 2024-12-16 16:50 titled “The European Bank for Reconstruction and Development (Further Payments to Capital Stock) Order 2024”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
101