The U.S. Congress will back the European Bank for Reconstruction and Development’s call for a big capital increase despite U.S. Republican suspicion of further foreign aid money, its president believes.
In an interview with Devex, Odile Renaud-Basso said she is “confident” the injection of €300-500 million ($325-542 million) — one-tenth of the sum EBRD is seeking — will receive cross-party support in Washington and allow the bank to accelerate its Ukraine reconstruction plans.
The bank wants to secure a final agreement by the end of 2023 on the proposed €3-5 billion paid-in boost to its capital base, only the third it has sought since its formation 32 years ago.