european bank for reconstruction and development s business model letters from anthony williams of ebrd /

Your article of 3 July (Lidl has received almost $1bn in public development funding) did not give an adequate explanation of the trade model used by the European Bank for Reconstruction and Development as it carries out its mandate to aid countries in their transition to well-functioning and sustainable market economies.  The reference to companies that “benefited … from public development money” conveyed the impression that the funding is in the form of grants or state handouts. This is not the case. The EBRD’s loans are commercial transactions conducted at commercial rates, and the returns from its investments are recycled into more projects in the regions where it works. The EBRD is largely self-funding in its operations.Continue reading...




Source: theguardian.com