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86-929: United Bulgarian Bank is the first large-scale project for banking consolidation in Bulgaria. It was founded on 30 September 1992 through the merger of 22 regional state-owned banks: Botevgradska Commercial Bank AD, Vrachanska Commercial Bank AD, Gabrovska Commercial Bank AD, Commercial Bank Doverie AD, Commercial Bank Elhovo AD, Commercial Bank Iskar AD, Kardzhaliyska Commercial Bank AD, Loveshka Commercial Bank AD, Mihaylovgradska Commercial Bank AD, Novozagorska Commercial Bank AD, Pazardzhishka Commercial Bank AD, Pernishka Commercial Bank AD, Peshterska Commercial Bank AD, Plevenska Commercial Bank AD, Popovska Commercial Bank AD, Rusenska Commercial Bank AD, Samokovska Commercial Bank AD, Slivenska Commercial Bank AD, Commercial Bank Stroybank AD, Targovishtka Commercial Bank AD, Haskovska Commercial Bank AD and Shumenska Commercial Bank. In 1997, UBB

172-600: A "biological solution", but by October were convinced that the political and economic situation was too grave. Honecker approved the choice, naming Krenz in his resignation speech, and the Volkskammer duly elected him. Although Krenz promised reforms in his first public speech, he was considered by the East German public to be following his predecessor's policies, and public protests demanding his resignation continued. Despite promises of reform, public opposition to

258-512: A 2017 report alleged deficiencies in monitoring and mitigation measures that had been designed to lessen the environmental impact of dam projects financed by the EBRD, while, in March 2018, outdoor clothing label Patagonia helped launch The Dam Truth campaign, which directly requests international banks including the EBRD to "stop investing in the destruction of Europe's last wild rivers". In 2011,

344-955: A Member State if it is a state in Europe or a non-European member of the IMF . Institutions like the European Union and the EIB also participate in the bank operations. Since its foundation the EBRD has almost doubled in membership size. The latest accessions to the bank are countries located in Africa. The EBRD is a public bank, meaning that public institutions such as states are shareholders in those institutions. More precisely, public financial institutions are controlled major predominantly by public authorities (more than 50%) whereas in institutions with public participations, public authorities aren't majority shareholders. Public banks were particularly involved in

430-413: A greatly competitive, resilient and integrated market and is complemented by a good governance system conducted by a well-functioning state which has to be environmental friendly and inclusive. In Armenia , EBRD has been operating since 1986, investing over €2 billion in over 200 projects. More than 90% of these investments have been made in private enterprises. The bank's key areas of investment include

516-417: A majority voting power. At its beginning, the EBRD was owned by more than 40 members, in 2015 the number of countries owning it was 61. and as of March 2022, there were 71 countries as owners. The following presidents have served the EBRD to date (as of March 2022). To become a member of the bank, a country needs to fit the EBRD's Articles of Agreement. These Articles stipulate that a country can only become

602-531: A need to travel or proving familial relationships). The travel authorizations will be issued within a short period of time. Grounds for denial will only be applied in particularly exceptional cases. 2) The responsible departments of passport and registration control in the People's Police district offices in East Germany are instructed to issue visas for permanent exit without delays and without presentation of

688-527: A new green economy approach for 2021–2025 and adopted a target of becoming a majority green bank by 2025. It invested €3.2 billion in climate mitigation, climate adaptation and other activities related to environmental issues in 2020. Moreover, the EBRD signed up to the Sustainable Blue Economy Finance Principles which represent the world’s first global guiding framework for banks, insurers, and investors to invest in

774-457: A rivalry regarding the status of the “EU’s premier development bank”. Major criticism about the EBRD in this situation is related to the fact that non-EU countries are also important shareholders whereas the EIB is completely owned by the EU. More recently, another source of rivalry was about becoming the new “European Climate and Sustainable Development Bank (ECSDB). More recently, since the start of

860-460: A short period of time. Grounds for denial will only be applied in particularly exceptional cases. b) The responsible departments of passport and registration control in the People's Police district offices in East Germany are instructed to issue visas for permanent exit without delays and presentation of the existing requirements for permanent exit. It is still possible to apply for permanent exit in

946-656: A short-term loan to make interest payments. The Berlin Wall was made up of two walls. Both walls were 4 metres tall and had a length of 155 kilometres. They were separated by a mined corridor called the death strip . This strip was heavily guarded and included 302 watchtowers (by 1989). Guards had authorisation to shoot people who attempted to go through this strip. On 18 October 1989, longtime Socialist Unity Party of Germany (SED) leader Erich Honecker stepped down in favor of Krenz. Honecker had been seriously ill, and those looking to replace him were initially willing to wait for

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1032-591: A stir in the room; amid several questions at once, Schabowski expressed surprise that the reporters had not yet seen this regulation, and started reading from the note. After this, a reporter, either Ehrman or Bild-Zeitung reporter Peter Brinkmann, both of whom were sitting in the front row at the press conference, asked when the regulations would take effect. After a few seconds' hesitation, Schabowski replied, "As far as I know, it takes effect immediately, without delay" ( German : Das tritt nach meiner Kenntnis ... ist das sofort ... unverzüglich ). This

1118-504: A three-tier structure composed of firstly, the president and the staff, secondly the Board of Governors and finally the Board of Directors . The bank’s structure has changed over time, because of concerns about competition within the institution. In fact, in the beginning of the 90s, there were two different banking divisions (on one side, the merchant banking related to the private sector and on

1204-611: A tool to build market economies . Initially focused on the countries of the former Eastern Bloc it expanded to support development in more than 30 countries from Central Europe to Central Asia. Similar to other multilateral development banks, the EBRD has members from all over the world (North America, Africa, Asia and Australia, see below), with the biggest single shareholder being the United States , but only lends regionally in its countries of operations. Headquartered in London ,

1290-501: Is a historic day. The GDR has announced that, starting immediately, its borders are open to everyone. The gates in the Wall stand open wide." In 2009, Ehrman claimed that a member of the Central Committee had called him and urged him to ask about the travel law during the press conference, but Schabowski called that absurd. Ehrman later recanted this statement in a 2014 interview with an Austrian journalist, admitting that

1376-567: Is capped at 40% maximum. As a neoliberal institution, the EBRD participates in policy debates by publishing macroeconomic analysis as well as economic forecasts that are used by both governments and international financial institutions. More recently, other than its original lending role, the EBRD has played a mediating role in Europe, for instance in Moldova in 2013 and even in the Central Asian region (most notably in countries such as

1462-452: Is considered by many NGOs and watchdogs organizations as repressive and activists and journalists are regularly arrested on false charges and imprisoned. The International Federation for Human Rights (FIDH) wrote in 2015, that "for more than a decade Azerbaijan has made shameless use of caviar diplomacy to charm European governments, its most important oil and gas clients". The EEC BankWatch warns that "Developing Shah Deniz stage 2 and

1548-523: Is notable that one of the main objectives of the European Bank for Reconstruction and Development was to become a link between the European Union, its institutions and the countries it would focus on. As the recipients were previously centrally planned economies, the ERBD centered through its operations on working with the private sector, which was the principal target of central planning. Focusing on

1634-647: Is to be finally reviewed by the management. Later on, it is submitted to the Board of Directors for approval. After being signed for both parties, it becomes legally binding. It leads to the transfer of funds from the EBRD to the client which will in the future start to repay the bank’s loan. The EBRD is unique among development banks for two reasons. First, it was the first multilateral development bank to have an explicit environmental mandate in its charter (since 1995), and second, in that it will not finance thermal coal mining and coal-fired electricity generation due to their environmental impact. The following table shows

1720-564: The Council of Europe Development Bank (CEB). Located in London, the EBRD was intended at its beginning to focus on the switch from centrally planned economy to market based economy in the Central and Eastern European countries by investing in the private sector, mainly banks, industries and businesses, and by promoting policies that would favor them. It was created as a result of the end of

1806-692: The Daily Mirror for the Pan-European Picnic: "Habsburg distributed leaflets far into Poland, on which the East German holidaymakers were invited to a picnic. When they came to the picnic, they were given gifts, food and Deutsche Mark , and then they were persuaded to come to the West." The leadership of the GDR in East Berlin did not dare to completely block the borders of their own country and

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1892-729: The Iron Curtain between Austria and Hungary at the Pan-European Picnic on 19 August 1989 set in motion a peaceful chain reaction, at the end of which there was no longer an East Germany and the Eastern Bloc had disintegrated. After the picnic, which was based on an idea by Otto von Habsburg to test the reaction of the USSR and Mikhail Gorbachev to an opening of the border, tens of thousands of media-informed East Germans set off for Hungary. Erich Honecker dictated to

1978-776: The Trans Adriatic Pipeline (TAP) could amount to EUR 1.2 billion. Fall of the Berlin Wall The fall of the Berlin Wall ( German : Mauerfall , pronounced [ˈmaʊ̯ɐˌfal] ) on 9 November 1989, during the Peaceful Revolution , marked the beginning of the destruction of the Berlin Wall and the figurative Iron Curtain , as East Berlin transit restrictions were overwhelmed and discarded. Sections of

2064-541: The Board of Governors. These members can not be on the Board of Governors. Its function is to direct the general operations of the bank, notably: The EBRD is composed of many members with voting powers, from European and non-European states to the membership of other institutions such as the European Investment Bank, however depending on the geographical location of each member, voting rights differ. More precisely, European and other creditor members hold

2150-621: The COVID-19 pandemic, public banks have had their influence and role increased as they have become important actors of the economic recovery response. As for the European Bank for Reconstruction and Development, it has committed €21 billion between 2020 and 2021 of activities. More precisely, its own package was established within the scope of the Resilience Framework, the Trade Facilitation Programme and

2236-547: The Central Committee. On 19 October, Krenz asked Gerhard Lauter to draft a new travel policy. Lauter was a former People's Police officer. After rising rapidly through the ranks he had recently been promoted to a position with the Interior Ministry ( "Home Office" / "Department of the Interior" ) as head of the department responsible for issuing passports and the registration of citizens. On 8 November,

2322-517: The Cold War because of particular issues regarding the international system in place, the historical and political context at the time. Furthermore, its recipient countries had to ensure that they would work towards "multi-party democracy and political pluralism" in which was considered as one of the main particularity of the EBRD distinguishing the latter from other financial institutions. Firstly, notably advocated by European political actors such as

2408-795: The EBRD 2020 Sustainability Report, donors provided €589 million to support EBRD activities, taking the form of grants, loans and risk-mitigating instruments. The EBRD funds come mainly from bilateral donors, from the Climate Investment Funds (CIF), the European Union (EU), the Global Environment Facility (GEF), and the Green Climate Fund (GCF). According to the EBRD, the bank provides different direct financial instruments such as loans, equity investments and guarantees. It also works on

2494-554: The EBRD activities. This has led to a reflection over the idea of winners and losers regarding globalisation. In contrast to the highlighted inclusion objective, concerns regarding inclusion, which notably involves gender equality, have been rather absent from the bank's attributions until recently. For instance, a Strategic Gender Initiative was validated by the EBRD President in 2013 as well as various projects involving gender equality related objectives. NGOs have criticised

2580-590: The EBRD approved a €65 million loan to ELEM, the Macedonian electricity utility, for a dam at Boskov Most . The Standing Committee of the Bern Convention requested immediate suspension of the project, with reference to the high biodiversity of the area and its importance as a core reproductive area for the Balkan lynx , one of the most endangered mammals on the planet. In January 2017, the bank cancelled

2666-586: The EBRD established a cross-departmental Human Rights Working Group and has developed internal human rights guidance. The EBRD provided €802 million of support under the Vital Infrastructure Support Programme launched in April 2020, an emergency support programme for infrastructure providers which is part of its overall Solidarity Package response to COVID-19 adopted on 13 March 2020. The package delivered emergency liquidity and

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2752-564: The EBRD invested more than €10 billion, both in 2019 and 2020. The EBRD has signed partnership agreements with Oxfam and Save the Children . In the 90s, the start of the EBRD actions have been considered as slow as the amount of money loaned was rather modest compared to what was available. There have been criticism regarding potential conflict of interest as it appeared that instead of focusing on public interests, some bankers' operations were influenced by their clients' needs, contrary to

2838-489: The EBRD is owned by 71 countries and two European Union institutions, the newest shareholder being Algeria since October 2021. Despite its public sector shareholders, it invests in private enterprises, together with commercial partners. The EBRD is not to be confused with the European Investment Bank (EIB), which is owned by EU member states and is used to support EU policy. EBRD is also distinct from

2924-446: The EBRD objectives, its lending policy regarding the public and private sectors, started and involved all the EU countries at the time, as well as various other European countries, non-European countries and representatives from the EU and the European Investment Bank . The Soviet Union was represented by its own delegation in the process and thus participated in the negotiations as well as

3010-540: The EBRD on the lack of progress the EBRD makes in its main mission, the “transition towards open and democratic market economies .” Inequality of the lending : most projects were related to the Visegrad countries that were the ones with the most developed private sectors meaning that the ERBD was underinvesting in the countries that were the most supposed to receive its participation. For instance, those countries (Czech Republic, Hungary, Poland) were involved in 46% of

3096-454: The EBRD president from 2012 to 2020, has pushed in the beginning of the 2010s for modernizing the bank. Reforms encompassed the bank's structure in itself, for instance by changing the management team, and its processes (for instance about policy dialogue or methodology regarding the concept of transition) in order for them to be more efficient. Since the 2000s, the focus has shifted towards the issue over sustainable market economies, notably in

3182-815: The EBRD: a €300 million plan for promoting energy efficiency, and a $ 180 million loan to lease agricultural and forestry equipment. The bank stated that it will continue to manage ongoing projects in Russia. Despite denying Russia new funds, the EBRD continues to insist on its 6.1% of ownership in the Moscow Stock Exchange , seeking profits from Russia with the privatisation of the Soviet economy . Building Southern Gas Corridor , European countries and companies support gas export from Azerbaijan and contribute to finance Azerbaijan's government. The Aliyev regime

3268-709: The East German Politburo enacted a portion of the draft travel regulations addressing permanent emigration immediately. Initially, the Politburo planned to create a special border crossing near Schirnding specifically for this emigration. However, Interior Ministry officials and Stasi bureaucrats charged with drafting the new text concluded the proposal was not feasible, and instead crafted new text relating to both emigration and temporary travel. The revised text stipulated East German citizens could apply for permission to travel abroad, without having to meet

3354-665: The French President Mitterrand in 1989, the idea of creating this financial institution involving the European countries started before the fall of the Berlin Wall . The reception of this proposition was mitigated depending on the country, for instance it received hostility from the British whereas the French were important proponents of the project and influenced the process. In January 1990, negotiations about

3440-583: The Kyrgyz Republic and Tajikistan for instance) by intervening as a third party in commercial disputes which has become one of its major areas of activities. As a mediating actor, the EBRD has managed to involve other actors such as businesses and Chambers of Commerce among others. Moreover, a regional forum on commercial mediation was established by the bank as part of its work, which has managed to involve various representatives from countries in Europe and Asia, such as judges and experts for instance. It

3526-512: The NBG majority shareholder of UBB with 89.9% share participation. The European Bank for Reconstruction and Development retained a 10% share. In 2002, the European Bank for Reconstruction and Development sold the National Bank of Greece its 10% share. In December 2016, KBC Group announced its purchase of UBB and Interlease for € 610,000,000. This made KBC the largest bank-insurance group in

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3612-688: The Press Office of the Ministry of the Interior has announced, the East German Council of Ministers has decided that the following temporary transition regulation for travel abroad and permanent exit from East Germany will be effective until a corresponding law is put into effect by the Volkskammer : 1) Applications by private individuals for travel abroad can now be made without the previously existing requirements (of demonstrating

3698-469: The Republic of North Macedonia abandoned plans for the road, redirecting the EBRD's funds to other infrastructure projects. Even though, its major objectives is to push for democracy and respect of human rights, the EBRD has been accused of not working towards those goals by not applying enough pressure and even "holding its annual meetings in dictator-run countries". Furthermore, reports have highlighted

3784-736: The Southern Gas Corridor is likely to cement further the oppressive structures of the Aliyev government". The EBRD has invested over 3 billion euros ($ 3.5 billion) in 177 projects in Azerbaijan. The EBRD approved three loans for the Shah Deniz gas field (US$ 200 million, US$ 250 million and US$ 100 million) as well as a US$ 500 million loan for the Trans-Anatolian gas pipeline (TANAP), and stated its financial support to

3870-638: The USA. Later on, because of dissensions on the political and economic objectives of the institution, the inclusion of the Soviet Union was threatened. Considered as short negotiations, the agreement (for reasons relating to the situation in Eastern Europe and to a wave of privatization across Europe) leading to its creation was signed on 29 May 1990 by actors such as 40 states as well as two European organizations and by March 1991 took its first effects as

3956-770: The USSR did not respond at all. Thus the bracket of the Eastern Bloc was broken. Following the summer of 1989, by early November refugees were finding their way to Hungary via Czechoslovakia or via the West German embassy in Prague . On 30 September, following negotiations with East Germany and the Soviet Union, the West German Foreign Minister Hans-Dietrich Genscher went to the Prague embassy to personally inform

4042-459: The Vital Infrastructure Support Programme etc. In 2020 alone, it has invested €11 billion as part of 411 projects which corresponds to a 10% raison compared to 2019. 72% of its investments were received by the private sector. Moreover, because of this specific context, the EBRD focused some of its operations in sectors other than green investment meaning that it only focused 29% of its investment in this domain (compared to 46% in 2019). According to

4128-460: The air as the press conference was ending, and as the lead story at 20:00 on ARD 's Tagesschau . As ARD and ZDF had broadcast to nearly all of East Germany since the late 1950s, were far more widely viewed than the East German channels, and had become accepted by the East German authorities, this is how most of the population heard the news. Later that night, on ARD's Tagesthemen , anchorman Hanns Joachim Friedrichs proclaimed, "This 9 November

4214-458: The assistance of SMEs through the intermediary of other banks or investment and venture capital funds which are linked to the EBRD’s investments. Each project is analysed, first by the EBRD management with the negotiations and the subsequent signing of a mandate letter drafting the important information about the project plan, the expected expenses as well as the responsibilities. Secondly, the project

4300-408: The bank was inaugurated. The creation of the EBRD has led to the financing of various projects in the years following its first operations, for instance there were twenty projects in 1992 in which the EBRD provided financing worth ECU 2.1 billion. Divided between its headquarters located in London , and field offices located elsewhere, the European Bank for reconstruction and development is made of

4386-401: The bank, with total contributions amounting to €60 million. €5 million was donated by Russia in the same year of 2015. Not only involving the European institutions, the EBRD financed projects also implicate private actors such as firms as well as foreign investors in the process. As part of its lending policies, the EBRD mostly lends capital to the private sector as lending to the public sector

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4472-441: The beginning of the negotiations that led to the creation of the EBRD, the question of democracy and human rights were included in the matter discussed. Those issues are clearly stated in the agreement. The EBRD is devoted to strengthen its approach to human-rights and also to gender-based issues. For instance, it posted a 14.8 percent year-on-year increase in the number of projects it supports that promote gender inclusion. Moreover,

4558-531: The border and the regulations would go into effect immediately. The news began spreading immediately: the West German Deutsche Presse-Agentur issued a bulletin at 19:04 which reported that East German citizens would be able to cross the inner German border "immediately". Excerpts from Schabowski's press conference were broadcast on West Germany's two main news programs that night—at 19:17 on ZDF 's heute , which came on

4644-793: The contested projects are the Ombla power plant in Croatia , the Kumtor Gold Mine in Kyrgyzstan , and the Šoštanj lignite power plant in Slovenia . The EBRD's activities in the Balkans have attracted particular controversy and criticism, especially when they have centered on national parks or free-flowing rivers. This has often involved the completed or proposed construction of hydroelectric dams and road infrastructure. Indeed,

4730-409: The context of the financial crisis of 2007 which harshly impacted population and their trust in financial institutions, democracy and free market. As a result, a rethinking of the concept of transition has taken place within the EBRD and has impacted the activities of the bank. Furthermore, the concept of transition was reviewed in 2015. In fact, it led to the idea that the ideal market economy is made of

4816-412: The country. The CIBANK banks were renamed United Bulgarian Bank. European Bank for Reconstruction and Development The European Bank for Reconstruction and Development ( EBRD; French : Banque européenne pour la reconstruction et le développement, BERD ) is an international financial institution founded in 1991. As a multilateral developmental investment bank , the EBRD uses investment as

4902-416: The departments for internal affairs [of the local district or city councils]. c) Permanent exits are possible via all East German border crossings to West Germany and (West) Berlin. d) The temporary practice of issuing (travel) authorizations through East German consulates and permanent exit with only an East German personal identity card via third countries ceases. 3. The attached press release explaining

4988-411: The development of investment volume into the Green Economy Transition (GET) approach, in support of the Paris climate goals. The EBRD had pledged, prior to 2015 Paris Agreement , to dedicate above 40 per cent of its financing to green investment by 2020. This goal was accomplished for the first time in 2017. With Russia actually being the biggest donor to an NDEP Support Fund for the environments inside

5074-401: The economic transition of the former Soviet Republics and Central and Eastern European countries as private banks and other sources of financing didn't want to invest for reasons such as those countries’ macroeconomic difficulties as well as political reasons regarding the country’s stability for instance. In the context of the EU’s investment banking, the EBRD and the EIB have been involved in

5160-422: The end of the press conference, ANSA 's Riccardo Ehrman asked if the draft travel law of 6 November was a mistake. Schabowski gave a confusing answer that asserted it was necessary because West Germany had exhausted its capacity to accept fleeing East Germans, then remembered the note he had been given and added that a new regulation had been drafted to allow permanent emigration at any border crossing. This caused

5246-515: The existing requirements for permanent exit. It is still possible to apply for permanent exit in the departments for internal affairs [of the local district or city councils]. 3) Permanent exits are possible via all East German border crossings to West Germany and (West) Berlin. 4) This decision revokes the temporary practice of issuing (travel) authorizations through East German consulates and permanent exit with only an East German personal identity card via third countries ceases. The announcement of

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5332-443: The fact that an important part of the loans provided by the EBRD go to countries with authoritarian leaders as of the beginning of 2022, including states such as Belarus or Egypt among others, and this despite its major objective of promoting democracy. The EBRD announced on 23 July 2014 that it would suspend new investment projects in Russia, following an earlier declaration by the European Council . The European Council declaration

5418-474: The financial sector, SMEs, and sustainable infrastructure. They invest, engage in policy-making, and offer technical assistance in order to encourage these areas locally. The EBRD invests around €150 million in Armenia's economy every year. Its partner financial institutions lend approximately €100 million to local SMEs through a variety of programs that promote trade, green energy, and financial access. Gradually, climate change and sustainable development became

5504-437: The focus point of the European Union, then consequently found its importance as one of the main challenges that the EBRD has to tackle. It became linked to the objective of forming sustainable market economies. In 2021, Anastassia Obydenkova research has indicated that positive evolutions have been made, for instance that carbon emission from some of the states benefiting from EBRD loans have decreased. Source: The EBRD agreed

5590-438: The integration and modernisation process, as part of its projects, the EBRD has notably invested in important sectors such as telecommunications in the Central and Eastern European countries. Since the 90s, recipients of EBRD financing have diversified, in fact, from mainly targeting EEC countries, the bank has moved to the Asian continent and increasingly focused on other countries such as China. More generally, Suma Chakrabarti,

5676-423: The loan saying the "conditions for disbursement were not met." Again in North Macedonia, the EBRD was criticised by environmentalists after plans were announced to bisect National Park Galičica in the UNESCO Ohrid-Prespa Transboundary Biosphere Reserve with an A3 express road, which would have required certain zones of protection in the national park to be downgraded. Scientists from North Macedonia and across

5762-420: The new travel law comes into force. 2. Starting immediately, the following temporary transition regulations for travel abroad and permanent exits from East Germany are in effect: a) Applications by private individuals for travel abroad can now be made without the previously existing requirements (of demonstrating a need to travel or proving familial relationships). The travel authorizations will be issued within

5848-540: The note, which confirmed that it did. After this exchange, Daniel Johnson of The Daily Telegraph asked what this law meant for the Berlin Wall. Schabowski sat frozen before giving a rambling statement about the Wall being tied to the larger disarmament question. He then ended the press conference promptly at 19:00 as journalists hurried from the room. After the press conference, Schabowski sat for an interview with NBC News anchor Tom Brokaw in which he repeated that East Germans would be able to emigrate through

5934-404: The objective of the EBRD. According to an economist named Branko Milanović, the analysis of global distribution of incomes has shown that the positive globalisation impact has mainly favoured the super-rich part of the population, thus deepening the inequalities of wealth concentration within the population. Furthermore, this uneven concentration is notably visible in the countries benefiting from

6020-530: The ocean economy in a sustainable way. The EBRD also aims to support the corporate transition to decarbonisation , for instance in Poland (EV battery performance), in Turkey (elimination of plastics in single-use hygiene products), and in Ukraine (green supermarkets); and support green infrastructures. Linked to its objective of contributing to political transformation in the EBRD's country targets in which projects are financed, this institution contributes to political transformation in these same states. From

6106-425: The other side the development banking side working mostly with the public sector). Consequently, the two divisions came to be merged into a single one, substituting this structure with another one instead dividing the bank with seven policy and country regional sub-divisions. Representatives from each member state compose this board, they have authority power. The Board of Directors consists of 23 members elected by

6192-457: The press conference included the results of votes at the Central Committee meeting, the surprising removal of SED Bezirk First Secretaries Hans-Joachim Böhme and Werner Walde , the SED's electoral and press reform plans and the new travel regulations. Schabowski had not been involved in the discussions about the new regulations and had not been fully updated. Shortly before the press conference, he

6278-2200: The previous requirements for those trips. To ease the difficulties, the Krenz-led Politburo decided on 9 November refugees could exit directly through crossing points between East Germany and West Germany, including between East and West Berlin. Later the same day, the ministerial administration modified the proposal to include private, round-trip, travel. The new regulations would take effect the next day. Zur Veränderung der Situation der ständigen Ausreise von DDR-Bürgern nach der BRD über die CSSR wird festgelegt: 1) Die Verordnung vom 30. November 1988 über Reisen von Bürgern der DDR in das Ausland (GBl. I Nr. 25 S. 271) findet bis zur Inkraftsetzung des neuen Reisegesetzes keine Anwendung mehr. 2) Ab sofort treten folgende zeitweilige Übergangsregelungen für Reisen und ständige Ausreisen aus der DDR in das Ausland in Kraft: a. Privatreisen nach dem Ausland können ohne Vorliegen von Voraussetzungen (Reiseanlässe und Verwandtschaftsverhältnisse) beantragt werden. Die Genehmigungen werden kurzfristig erteilt. Versagungsgründe werden nur in besonderen Ausnahmefällen angewandt. b. Die zuständigen Abteilungen Paß- und Meldewesen der VPKÄ in der DDR sind angewiesen, Visa zur ständigen Ausreise unverzüglich zu erteilen, ohne daß dafür noch geltende Voraussetzungen für eine ständige Ausreise vorliegen müssen. Die Antragstellung auf ständige Ausreise ist wie bisher auch bei den Abteilungen Innere Angelegenheiten möglich. c. Ständige Ausreisen können über alle Grenzübergangsstellen der DDR zur BRD bzw. zu Berlin (West) erfolgen. d. Damit entfällt die vorübergehend ermöglichte Erteilung von entsprechenden Genehmigungen in Auslandsvertretungen der DDR bzw. die ständige Ausreise mit dem Personalausweis der DDR über Drittstaaten. 3) Über die zeitweiligen Übergangsregelungen ist die beigefügte Pressemitteilung am 10. November 1989 zu veröffentlichen. 1. The decree from 30 November 1988 about travel abroad of East German citizens will no longer be applied until

6364-508: The projects signed during the 1991–1993 period. Some NGOs have criticized the EBRD for financing projects they consider to be environmentally and socially harmful. Although it has increased its investments into energy efficiency and sustainable energy in recent years, these NGOs consider the bank continues to diminish the impacts of green investments by financing carbon-intensive development such as coal, oil and gas production, transportation and generation, motorways, and airports. Among

6450-663: The regime continued to grow. On 1 November, Krenz authorized the reopening of the border with Czechoslovakia , which had been sealed to prevent East Germans from fleeing to West Germany. On 4 November, the Alexanderplatz demonstration took place. On 6 November, the Interior Ministry published a draft of new travel regulations, which made cosmetic changes to Honecker-era rules, leaving the approval process opaque and maintaining uncertainty regarding access to foreign currency. The draft enraged ordinary citizens, and

6536-458: The regulations which brought down the Wall took place at an hour-long press conference led by Günter Schabowski , the outgoing party leader in East Berlin and top party spokesman as Secretary for Information, beginning at 18:00 CET on 9 November and broadcast live on East German television and radio . Schabowski was joined by Minister of Foreign Trade Gerhard Beil and Central Committee members Helga Labs and Manfred Banaschak . Topics of

6622-1525: The temporary transition regulation will be issued on 10 November. Verantwortlich: Regierungssprecher beim Ministerrat der DDR Berlin (ADN) Wie die Presseabteilung des Ministeriums des Innern mitteilt, hat der Ministerrat der DDR beschlossen, daß bis zum Inkrafttreten einer entsprechenden gesetzlichen Regelung durch die Volkskammer folgende zeitweilige Übergangsregelung für Reisen und ständige Ausreisen aus der DDR ins Ausland in Kraft gesetzt wird: 1. Privatreisen nach dem Ausland können ohne Vorliegen von Voraussetzungen (Reiseanlässe und Verwandtschaftsverhältnisse) beantragt werden. Die Genehmigungen werden kurzfristig erteilt. Versagungsgründe werden nur in besonderen Ausnahmefällen angewandt. 2. Die zuständigen Abteilungen Paß- und Meldewesen der VPKÄ in der DDR sind angewiesen, Visa zur ständigen Ausreise unverzüglich zu erteilen, ohne daß dafür noch geltende Voraussetzungen für eine ständige Ausreise vorliegen müssen. Die Antragstellung auf ständige Ausreise ist wie bisher auch bei den Abteilungen Innere Angelegenheiten möglich. 3. Ständige Ausreisen können über alle Grenzübergangsstellen der DDR zur BRD bzw. zu Berlin (West) erfolgen. 4. Damit entfällt die vorübergehend ermöglichte Erteilung von entsprechenden Genehmigungen in Auslandsvertretungen der DDR bzw. die ständige Ausreise mit dem Personalausweis der DDR über Drittstaaten. Responsible: Government spokesman of East Germany; Council of Ministers Berlin ( ADN ) As

6708-425: The thousands of refugees that they were allowed to leave for West Germany. His speech from the embassy's balcony, which included the line, "Wir sind zu Ihnen gekommen, um Ihnen mitzuteilen, dass heute Ihre Ausreise..." ("We came to you, to let you know that today, your departure...") was met with loud cheers and jubilations. The next day, the first of the embassy refugees left Prague for Bavaria . The emigration

6794-584: The wall were breached, and planned deconstruction began the following June. It was one of the series of events that started the fall of communism in Central and Eastern Europe . The fall of the inner German border took place shortly afterward. An end to the Cold War was declared at the Malta Summit in early December, and German reunification took place in October the following year. The opening of

6880-799: The world signed a declaration in opposition to this and other projects proposed for the Ohrid-Prespa region, a message that was reinforced by a Joint Reactive Monitoring Mission from the World Heritage Centre, ICOMOS and the IUCN, which requested total cancellation of proposed A3 road sections. This recommendation was underlined by the World Heritage Committee at its 41st session in Kraków. Eventually, in February 2018,

6966-562: Was acquired by a consortium of the European Bank for Reconstruction and Development (EBRD), BULBANK and Oppenheimer & Co. , becoming the first privatised state-owned bank in Bulgaria. On 20 July 2000, BULBANK AD, CIBC World Markets (formerly Oppenheimer & Co.), Jodrell Enterprises and the European Bank for Reconstruction and Development sold the National Bank of Greece (NBG) 68,289,905 shares of UBB, which rendered

7052-443: Was an apparent assumption based on the note's opening paragraph; as Beil attempted to interject that it was up to the Council of Ministers to decide when it took effect, Schabowski proceeded to read this clause, which stated it was in effect until a law on the matter was passed by the Volkskammer . Crucially, a journalist then asked if the regulation also applied to the crossings to West Berlin . Schabowski shrugged and read item 3 of

7138-689: Was denounced as "complete trash" by West Berlin Mayor Walter Momper . Hundreds of refugees crowded onto the steps of the West German embassy in Prague, enraging the Czechoslovaks, who threatened to seal off the East German–Czechoslovak border. On 7 November, Krenz approved the resignation of Prime Minister Willi Stoph and two-thirds of the Politburo; however, Krenz was unanimously re-elected as General Secretary by

7224-411: Was handed a note from Krenz announcing the changes, but given no further instructions on how to handle the information. The text stipulated that East German citizens could apply for permission to travel abroad without having to meet the previous requirements for those trips, and also allowed for permanent emigration between all border crossings—including those between East and West Berlin. At 18:53, near

7310-417: Was initially tolerated because of long-standing agreements with the communist Czechoslovak government, allowing free travel across their common border. However, this movement of people grew so large it caused difficulties for both countries. In addition, East Germany was struggling to meet loan payments on foreign borrowings; Egon Krenz sent Alexander Schalck-Golodkowski to unsuccessfully ask West Germany for

7396-571: Was made in the context of the 2014 pro-Russian unrest in Ukraine . As of 2014 Russia has been the biggest funding recipient of all countries. In 2013, the Russian Federation received €1.8 billion for investments from the EBRD and 1 billion € from the EIB. Russia employed the funds to finance a variety of projects like pipeline valves, property acquisitions, and a loan to a hypermarket chain. Two Russian projects were awaiting funding from

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