Tribune. As she celebrates April 15 her 30e anniversary, the European Bank for Reconstruction and Development (EBRD) prides itself of its commitments in favor of sustainable development, democracy and equality. But when looking at where and how the EBRD invests, its political mission – to support only countries that commit to upholding the principles of the EBRD. multiparty democracy and pluralism, and implement them – seems to be just display.
In recent years, the Bank has invested heavily in countries ruled by authoritarian governments, and has done little – and in some cases nothing – to use its influence to promote democracy and protect the space of the world. civil society.
More than 7 billion euros
In 2020, the two main countries of operations of the EBRD were Turkey and Egypt.
In Egypt, the EBRD has invested more than € 7 billion since 2012, with 127 projects to date, mainly in finance, agribusiness, tourism and infrastructure.
However, under the government of Abdel Fattah al-Sisi, thousands of Egyptian human rights defenders, journalists and political activists arrested, forced into hiding or into exile, were victims of enforced disappearance or torture, or even killed. The government has frozen the assets of civil society associations, which face restrictions crippling their ability to act. The army controls – directly or indirectly – many private companies and economic sectors.
Sit-ins in the workplace are subject to criminal prosecution, and independent unions cannot operate freely. Corruption is rampant. Democracy, the rule of law and the separation of powers are empty words when it comes to the current Egyptian reality.
This year, the EBRD will review its country strategy for Egypt. Egyptian pro-government media also announced that Odile Renaud-Basso, the former Director General of the French Treasury who was elected President of the EBRD in November 2020, will be visiting Egypt shortly. Both the strategy review and this visit provide an opportunity for the Bank to honor its commitments and to include human rights and civic space issues in its work program, which it does not do. hasn’t done so far.
Detention without trial
In November, in a interview given to Financial Times, Ms. Renaud-Basso defended the EBRD’s investments in countries ruled by repressive governments, saying the Bank wanted “Help countries move in the right direction” and that the emphasis on lending to the private sector helped to strengthen civil society.
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