Decision (EU) 2024/1246 on the subscription by the European Union to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD)
Decision 32024D1246 — what it is, who it's in scope for, and the official record behind it. Built only from official sources.
Decision (EU) 2024/1246 on the subscription by the European Union to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) is Decision 32024D1246. to subscribe to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) and to extend the geographic scope of EBRD operations to sub-Saharan Africa and Iraq. Source: EUR-Lex and the European Parliament procedure file.
What it is
to subscribe to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) and to extend the geographic scope of EBRD operations to sub-Saharan Africa and Iraq. PROPOSED ACT: Decision of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: in accordance with the agreement establishing the European Bank for Reconstruction and Development (EBRD), the Board of Governors of the EBRD adopted, on 15 December 2023, their Resolution No. 265, which authorises the EBRD to increase its number of shares by 400 000 new shares priced at EUR 10 000 each, totalling EUR 4 billion, with an effective date of 31 December 2024. The capital increase is necessary to enable the EBRD’s continued activities and investments in Ukraine during war and in particular post-war period to support Ukraine’s reconstruction.
Official title: Decision (EU) 2024/1246 of the European Parliament and of the Council of 24 April 2024 on the subscription by the European Union to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) and amending the Agreement establishing the EBRD as regards the extension of the geographic scope of EBRD operations to sub-Saharan Africa and Iraq, and the removal of the statutory capital limitation on ordinary operations
Frequently asked
What is Decision (EU) 2024/1246 on the subscription by the European Union to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD)?
to subscribe to additional shares in the capital of the European Bank for Reconstruction and Development (EBRD) and to extend the geographic scope of EBRD operations to sub-Saharan Africa and Iraq. PROPOSED ACT: Decision of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: in accordance with the agreement establishing the European Bank for Reconstruction and Development (EBRD), the Board of Governors of the EBRD adopted, on 15 De
When was 32024D1246 adopted?
Decision 32024D1246 is dated 2024-04-24. The full official text is on EUR-Lex.
What is the EU legislative procedure reference?
The procedure reference is 2024/0019(COD). You can follow it on the European Parliament's procedure file.
Primary sources
Summary extracted from the European Parliament's own per-stage procedure record. Data © European Union (Decision 2011/833/EU). Methodology.
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