First reading of the draft resolution "Increasing the Republic of Estonia's participation in the European Bank for Reconstruction and Development" (542 OE)
Session: 15th Riigikogu, 4th session, plenary sitting
Date: 2024-12-03 14:15
Participating Politicians:
Total Speeches: 39
Membership: 15
Agenda Duration: 31m
AI Summaries: 39/39 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
Within the framework of the Riigikogu’s fifth agenda item, the Riigikogu held the first reading of draft resolution 542 presented by the Government of the Republic, the main topic of which was increasing Estonia’s participation in the European Bank for Reconstruction and Development (EBRD). The presenter was the Minister of Finance, Jürgen Ligi. He explained that the capital increase is primarily aimed at providing assistance to Ukraine in the context of the war and reconstruction work, and it foresaw the issuance of new shares totaling 4 billion euros; Estonia's share of this, in total, being 0.1%, which means 4,030,000 euros in five equal installments. Ligi emphasized that this is a neutral financial transaction and that the EBRD has a long history in Ukraine, where it has established loans and investments, and supported tens of millions of euros of strategic development. Ukraine’s share of the EBRD loan portfolio is 8.8%, and the expected annual growth in financing for 2027–2032 is approximately 3 billion euros per year; long-term lending and restructuring are planned to be harmonized across all relevant sectors, and the capital increase would allow expansion to other countries as well.
Decisions Made 1
First reading completed. The draft leaves the procedure and the deadline for submitting amendments within the framework of the first reading is December 10th at 17:15. The EKRE proposal to reject the draft received 17 votes in favor, 41 against, with 0 abstentions.
Most Active Speaker
The most active speaker was C8iMWR25mcA, a member of the EKRE faction (right-wing). He spoke boldly and critically, drawing attention to the possibility of rejecting the draft, and emphasized the priorities of the interests of the Estonian people and the burden on taxpayers, as well as criticisms of the government's economic and financial policy.
Aseesimees Arvo Aller
AI Summary
Today the first reading of the Riigikogu's draft resolution No. 542 is being discussed, which aims to increase Estonia's participation in the European Bank for Reconstruction and Development.
Rahandusminister Jürgen Ligi
AI Summary
Because Estonia's share in the EBRD capital is 0.1%, and according to the bill new shares will be issued totaling 4 billion euros, of which Estonia's contribution would be 4,030,000 euros in five equal installments, with the aim of better supporting Ukraine during the war and reconstruction period through long-term loans and investments, and increasing the bank's lending capacity both in Ukraine and in other countries where annual funding is forecast to grow to about 3 billion euros per year in 2027–2032.
Aseesimees Arvo Aller
AI Summary
The vice-chairman thanked the presenter and invited questions, addressing Evelin Poolametsa.
Evelin Poolamets
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Evelin Poolamets asked the minister how he, as an economist, assesses the proposed bill and whether it is a good bill, noting that there were no economists at the table.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi thanked and said that the question does not pertain to the topic.
Aseesimees Arvo Aller
AI Summary
A plea is presented to Mart Helme in the speech.
Mart Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Mart Helme recommends that the government first help Estonian families and people in economic hardship, and only then see whether there will be anything left for Ukraine.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi emphasizes that thinking about Russia does not affect the current discussion, mentions an Ärileht article about payment difficulties, and states that, according to official statistics, poverty has decreased and the social situation has improved, and Ukraine is not included there.
Aseesimees Arvo Aller
AI Summary
This speech is simply a plea to Martin Helme.
Martin Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Martin Helme criticizes the respondent for not answering the questions, thereby demeaning the Parliament, and invites him to come in a tie and properly dressed to answer, because otherwise there is no point in presenting the bill.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that a tie pin is old-fashioned and wearing a tie is a personal matter—everyone wears it as they wish, because freedom is each person's own business.
Aseesimees Arvo Aller
AI Summary
Vice-chairman Arvo Aller asked Rain Epler to speak.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler asks about additional EBRD capital and demands clear guarantees and wording that the money will be used for targeted aid to Ukraine, especially considering that the EBRD's priorities through 2030 do not address Ukraine separately.
Rahandusminister Jürgen Ligi
AI Summary
The aim of the capital increase decision is a clear purpose; the projects will only become clear once there is borrowing capacity, and the decision must remain true to its purpose and its goal.
Aseesimees Arvo Aller
AI Summary
This is simply a request to invite Evelin Poolametsa.
Evelin Poolamets
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
A member of the Riigikogu, Evelin Poolamets, asks the minister to evaluate the draft and to say whether it is good for Estonia and beneficial for the economy, because she wants to receive a clear assessment, which she has not received so far.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the cultural conflict between us is insurmountable, but he is a friend of Ukraine, emphasizes the importance of Ukraine's stabilization and aid for the interests of the free world, and regards Ukraine as Estonia's ally, while Russia, however, is not.
Aseesimees Arvo Aller
AI Summary
The vice-chair Arvo Aller turns to Helle-Moonika Helme and asks her.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helle-Moonika Helme emphasized the friendly ties with Ukraine, pointed out Estonia's financial difficulties, and proposed stopping the diversion of other resources to Ukraine and focusing on increasing Estonia's participation in the European Bank for Reconstruction and Development.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stressed that aiding Ukraine is an obligation to the interests of the free world and to the conscience of decent people, and that the state has a duty to help its friends, because our friends have helped us with much larger sums than we have managed to help our friends.
Aseesimees Arvo Aller
AI Summary
The vice-chairman Arvo Aller asks Mart Helmet.
Mart Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Mart Helme said that he is offended when Jürgen Ligi smears him with the label of Putin-friendly, recalled the negotiations related to the withdrawal of Russian troops, and stated that he stands up for the poor people of Estonia, and that state aid and the budget are meant to help them, not to justify poverty under the guise of international obligations.
Aseesimees Arvo Aller
AI Summary
The speaker emphasizes that now is your time to take action.
Mart Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
He emphasizes that Ukraine must be helped, but there must be a balance so that the wolves have eaten and the sheep are healthy, without our own sheep going hungry.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi emphasized that Estonia's capital investment is a financial transaction that does not increase the budget deficit and is beneficial for Estonia, and that Ukraine's victory and its recovery with the help of friends is an existential interest and a moral obligation for Estonia.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler presented two questions: first, about the draft bill, whether the aim of increasing capital is to aid Ukraine and whether future spending is not restricted, and second, about the origin of the attire-related comment.
Aseesimees Arvo Aller
AI Summary
The speech begins with a plea to invite Rain Epler to perform.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the aim of the capital expansion is stated in the decision, and with regard to loans, separately approved specific projects are approved and their targeted use is assessed, i.e., the external form is not important.
Aseesimees Arvo Aller
AI Summary
Vice-Chairman Arvo Aller asks Helle-Moonika Helme to come on stage.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helle-Moonika Helme raises the question of where the money allocated to the Development Bank goes, claiming that it does not improve the welfare of the Estonian people, and points to next year's high food prices, the rising number of payment difficulties, and poverty, asking whether the money actually reaches Ukraine's welfare and does not disappear anywhere.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that helping people who are truly in trouble is not moral. Estonia's relative and absolute poverty has fallen. Aid to Ukraine has not affected social policy. Estonia has allocated about 10 million euros to Ukraine and has received more than a billion in concessional loans from it. And while others see only the bad in it, he sees some good in it.
Aseesimees Arvo Aller
AI Summary
There are no more questions; the summary of the discussion held in the steering committee will be presented to you by Tanel Kiik, a member of the Finance Committee.
Tanel Kiik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Tanel Kiik provides an overview of the Finance Committee's discussion on increasing the EBRD's stake, the aim of which is to support Ukraine, and Estonia has received 1.2 billion euros in loans over the past 30 years.
Aseesimees Arvo Aller
AI Summary
Vice-Speaker Arvo Aller thanked and announced that next he would open negotiations with the factions, and on behalf of the EKRE faction Martin Helme will speak.
Martin Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Martin Helme said that the draft bill is false and harmful, and the Reform Party's economic policy will increase taxes and spending cuts to fund aid to Ukraine through foreign financing organizations, and he emphasized that the welfare of the Estonian people is a priority and that the opponents are Putinists.
Aseesimees Arvo Aller
AI Summary
The vice-chairman Arvo Aller simply said: "Two more minutes."
Martin Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Martin Helme claims that money intended to aid Ukraine is not earmarked and ends up being spread across various projects, including promoting the green transition and tolerance, and perhaps supporting color revolutions in Georgia, and he calls for the bill to be rejected.
Aseesimees Arvo Aller
AI Summary
Arvo Aller declared the negotiations finished and put to a vote the EKRE faction's proposal to reject the Riigikogu's draft resolution "Increasing Estonia's stake in the European Bank for Reconstruction and Development" (Draft No. 542) at the first reading.
Aseesimees Arvo Aller
AI Summary
The proposal did not gain support (17 in favor, 41 against, 0 abstentions); the first reading has been completed; the deadline for submitting amendments is December 10 this year at 17:15; the session has ended.