Second reading of the Draft Act on the Approval of Amendments to Article 1 and Article 12, Subsection 1, of the Agreement Establishing the European Bank for Reconstruction and Development (Bill 352 SE)
Session: 15th Riigikogu, 3rd session, plenary session
Date: 2024-02-21 16:11
Participating Politicians:
Total Speeches: 7
Membership: 15
Agenda Duration: 7m
AI Summaries: 7/7 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The first item on the agenda was the second reading of Draft Act 352, initiated by the Government of the Republic, concerning the approval of amendments to Article 1 and Article 12, subsection 1 of the Agreement Establishing the European Bank for Reconstruction and Development (EBRD). Jürgen Ligi, a member of the Finance Committee, introduced the draft act, explaining that the amendments expand the bank's operational area to include Sub-Saharan Africa and Iraq, and eliminate the capital restriction. Ligi stressed that the handling of the draft act was exceptional because the committee had reached a consensus and no amendments had been submitted. During the debate, Siim Pohlak raised the question of why Estonian funds were being indirectly channeled to Africa while domestic savings and loan associations were not receiving support. Ligi responded that supporting poor countries was in Europe's interest, as it helps slow down emigration, and that savings and loan associations do not play a sufficiently important role in the Estonian economy to warrant state financial aid. Following the conclusion of the deliberations, the draft act was forwarded for the final vote.
Decisions Made 1
Bill 352 (Approval of Amendments to the Agreement Establishing the European Bank for Reconstruction and Development) was adopted as an Act with 60 votes in favor (14 against, 0 abstentions).
Aseesimees Toomas Kivimägi
AI Summary
The Riigikogu will now proceed with today's agenda. The first item is the second reading of Bill 352, initiated by the Government of the Republic, concerning amendments to Article 1 and Article 12, paragraph 1, of the Agreement Establishing the European Bank for Reconstruction and Development. The honorable member of the Finance Committee, Jürgen Ligi, is invited to the podium.
Jürgen Ligi
AI Summary
This draft resolution approves amendments to the EBRD Articles of Agreement, expanding the bank's area of operations and lifting the capital constraint. This will allow Sub-Saharan Africa and Iraq to become members, secure loans, and participate in the bank's activities. No scandal or proposed amendments arose in the finance committee because the region in question was not Ukraine, but Africa and Iraq, and the decisions were reached by consensus, which is why the draft resolution is being sent for the final vote today.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Chairman Toomas Kivimägi thanks his colleague and asks Siim Pohlak to pose at least one question.
Siim Pohlak
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Siim Pohlak asked the Finance Committee whether they discussed why our money is indirectly channeled to Sub-Saharan Africa and why the state cannot help our domestic savings and loan associations.
Jürgen Ligi
AI Summary
Jürgen Ligi emphasized that the regulation and supervision of credit unions will be thoroughly reviewed, given that their economic role is limited and state financing is not considered necessary. He added that this is separate from aiding poor countries, but within the context of curbing migration, the draft bill also includes provisions for supporting the economy and living conditions in those countries.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Speaker Toomas Kivimägi announced that no amendments had been submitted regarding Draft Act 352, and the Presidium proposes to hold the final vote and proceed with preparations for it, asking colleagues to take a position and vote on Draft Act 352, the Act on the Approval of Amendments to Article 1 and Article 12, Paragraph 1, of the Agreement Establishing the European Bank for Reconstruction and Development, initiated by the Government of the Republic.
Aseesimees Toomas Kivimägi
AI Summary
The Riigikogu adopted Draft Act 352 as law: 60 in favor, 14 against, 0 abstentions, and the consideration of the first item on the agenda is concluded.