First Reading of the Draft Law on the Approval of Amendments to Article 1 and Article 12, Subsection 1, of the Articles of Agreement of the European Bank for Reconstruction and Development (352 SE)
Session: 15th Riigikogu, 3rd sitting, plenary session
Date: 2024-01-10 16:24
Participating Politicians:
Total Speeches: 12
Membership: 15
Agenda Duration: 15m
AI Summaries: 12/12 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The agenda item concerned the first reading of Draft Act 352, initiated by the Government of the Republic, on the Approval of Amendments to Article 1 and Article 12, Paragraph 1 of the Agreement Establishing the European Bank for Reconstruction and Development (EBRD). Finance Minister Mart Võrklaev explained that the amendments are twofold: first, the expansion of the bank's area of operations to Sub-Saharan Africa and Iraq, justifying this as a geopolitical necessity to compete with China and Russia and reduce migratory pressure on Europe. Second, the decision-making level for restrictions on the use of capital will be changed, entrusting the relevant parameters to the bank's Board of Directors.
Jürgen Ligi, representing the Finance Committee, confirmed that the committee discussed the draft bill on December 18th and decided by consensus to conclude the first reading, setting January 24th as the deadline for proposed amendments. During the debate, Martin Helme (EKRE) sharply criticized the expansion plan, calling it "nonsense" driven by French business interests and prone to corruption, and proposed rejecting the bill. Jürgen Ligi (Reform Party) responded by emphasizing that contributing to African development is a self-serving European interest aimed at alleviating demographic pressure and migration. During the vote, EKRE's proposal to reject the bill failed to gain support (13 in favor, 55 against). The first reading was concluded.
Decisions Made 2
The proposal by the faction of the Estonian Conservative People's Party to reject draft bill 352 at the first reading failed to gain support (13 in favor, 55 against).
The first reading of Bill 352 was concluded. The deadline for submitting amendments was set for January 24, 2024, at 5:15 p.m.
Most Active Speaker
Martin Helme (EKRE, right-wing) was the most active speaker, leveling sharp criticism against the proposed expansion of the EBRD’s operating region and proposing that the draft resolution be rejected.
Aseesimees Jüri Ratas
AI Summary
Jüri Ratas announced the transition to the second item on the agenda and invited the Minister of Finance, Mart Võrklaev, to the Riigikogu rostrum as the rapporteur for the first reading of Draft Act 352 concerning the approval of amendments to Article 1 and Article 12, paragraph 1, of the EBRD Agreement.
Rahandusminister Mart Võrklaev
AI Summary
Finance Minister Mart Võrklaev explains that amendments to the Articles of Association and the Founding Agreement will expand the EBRD’s operations into Sub-Saharan Africa and Iraq, in order to provide loans to the economy there through private sector development and to ensure that at least 60% of the projects originate from the private sector. Simultaneously, the authority to set capital adequacy limits will be granted to the bank’s Board of Directors. The expansion will be limited to six countries until 2030, and each country will decide on membership individually, with the overall objective of strengthening the market economy and reducing migratory pressure.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas thanked the minister, stated that there were no questions, and invited Jürgen Ligi, a member of the Finance Committee, to the podium to present the matter before the Riigikogu.
Jürgen Ligi
AI Summary
The project concerning expansion into the African region, which was discussed at the December 18th session, covered the selection and cooperation countries, risks, the green transition, Estonia's representation, and the banks' management structure. It was decided by consensus to conclude the first reading and forward the project to the agenda. The deadline for amendment proposals is January 24th at 5:15 PM.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas thanked the rapporteur, stated that there were no questions, opened the debate, and invited Martin Helme, the representative of the EKRE faction, to the Riigikogu rostrum.
Martin Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Martin Helme criticizes the commission's unperturbed demeanor and the inadequate preparation of the legislation, arguing that the plan to expand the bank's operations into Africa is precarious and linked to corruption and the interests of foreign states, and he calls for the bill to be rejected during the first reading.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas thanked the assembly and informed them that there were still requests to speak and that the discussions had not yet concluded, before inviting Jürgen Ligi, the representative of the Reform Party faction, to take the floor.
Jürgen Ligi
AI Summary
According to Jürgen Ligi, Europe operates in Africa primarily out of self-interest, but the goal is to improve the lives of the local population and give them hope for success, so that migration decreases.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas thanked [the member] and invited Helle-Moonika Helme to ask a procedural question.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Helle-Moonika Helme thanks the previous speakers and Martin Helme for his substantive statements, emphasizes the pluralism and balance of opinions, and asks how to define abuse and whether any extreme expression was heard or seen at the Riigikogu podium.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas concluded the debate and put to a vote the EKRE faction's motion to reject Bill 352 during its first reading.
Aseesimees Jüri Ratas
AI Summary
During the first reading, the vote tally was 13 in favor, 55 against, with zero abstentions; the motion failed to gain support, and the leading committee decided to close the first reading; the deadline for submitting amendments is January 24th at 5:15 p.m., and the first reading and the handling of the second item on the agenda are now concluded.