Jean Lemierre, president, European Bank for Reconstruction and Development
The year 2004 was particularly eventful for the EBRD region. Eight central European and Baltic states joined the European Union, there were peaceful revolutions in Georgia and Ukraine and the region enjoyed high growth levels. South-east Europe, where we are holding this year's meeting, had a particularly good year, with growth of 6.4%. It was also a landmark year for the EBRD. The bank committed a record €4.1 billion in many more and smaller projects than in the past.
The EBRD's priorities are evolving in line with developments in our 27 countries of operation. Increasingly, that will mean less need for our investment in the new EU member states and a higher priority for the countries further east that are still at the transition stage. It will mean a continuing high proportion of investment in Russia, but new kinds of investment and in more remote areas. To achieve our evolving aims we are putting more bankers in the field, working with local clients and with domestic and international investment partners on projects supporting small and medium-sized businesses and major industries.
We will continue our emphasis on the poorest countries through the Early
Transition Countries Initiative, launched in 2004. We will continue building on our past success to contribute to a more prosperous future for the region.
Boris Tadic, president, Serbia
The EBRD annual meeting is a unique opportunity for us to play host to the financial, political and business elite. It is an opportunity for us to convince them that Serbia is an ideal place to invest. It will also be an opportunity for Serbia to receive support for its European journey and for new business to be agreed.
The belief that bankers, governors, heads of government, ministers and business people will demonstrate in our country by their arrival in Belgrade should convince multinational companies and small and medium-sized investors that Serbia is a market with perspective and that there exists a competitive and safe environment for investment.
As always, Serbia and Belgrade will be good organizers and hosts and as president of Serbia, I would like to use this opportunity to invite business people to come to Belgrade.
Karl-Heinz Grasser, federal minister of finance of Austria, chairman of the board of governors of the EBRD
The EBRD is underlining its special attention to the western Balkans by holding this year's annual meeting in Belgrade. The region has arrived at the doorsteps of the European Union. Albania, Bosnia-Herzegovina, Croatia, Macedonia, Serbia and Montenegro including Kosovo, all these countries are pursuing the political goal of joining the EU in a foreseeable future.
Given its mission of supporting the transition of Europe's former centrally-planned economies to pluralistic market-oriented societies, the EBRD is well placed in helping the Balkan countries on their way forward. The necessary conditions for success will be the stepping up of regional cooperation, progress on institution building, and governance. A positive outcome will largely depend on the dedication and performance of each individual country.
Municipal development, transport, energy and privatization are major areas of intervention for the bank. In co-operation with the European Investment Bank and other stakeholders, EBRD should be able to create synergies, avoid overlaps and make best use of its resources for the benefit of the region.
Let me take this opportunity to reaffirm my country's strong support of all efforts towards integration of the region with and into the European Union as this will contribute to political and social stability, which is in all of our interests.
Jack Stack, chief executive, Ceska Sporitelna
For central Europe and the new accession countries, all indicators are that these economies are well positioned to grow at a faster rate than the EU 15 and to provide greater economic opportunity to their citizens. I believe that central Europe will be an engine of growth for the EU over the next 10 years. It is very exciting to be in central Europe as we enter this sustained economic expansion period.
The EBRD has been an agent of change in the accession countries building transparency, market economies, commitment to the rule of law and human rights, and democracy. The challenges for EBRD are the same – do not allow slippage in countries where the EBRD has already helped and build a modern economy in newly open societies. This is "nation building" which is a hated term but is most important for the future of Europe and the world.
Joaquin Almunia, EU commissioner for monetary affairs
This event brings together a unique blend of government and private sector leaders, presenting a special opportunity for us to share experience and enhance our mutual understanding of the challenges this region is facing and to improve the effectiveness of our action.
Holding the meeting in Belgrade affirms a renewed national and regional momentum. Achievements are already significant, but full potential still lies ahead and requires bold reforms and extensive regional cooperation. Our presence here speaks also of the long-term commitment to this country and to south-east Europe by the international community and, more particularly, by the EU and its member states.
The EBRD is indeed a strategic partner for the EU. The bank's project-based support for economic and regulatory reform, the highest environmental standards, foreign direct investment, and an enterprise culture, is highly complementary to our own policy priorities in the region. We have given substance to this partnership through regular EU financial support to EBRD operations that has now reached some €3 billion on a cumulative basis.
This partnership has been very productive in the eight central and eastern European countries that have recently joined the EU, where we will continue to work closely with the bank. But cooperation with the EBRD is also important to us elsewhere. We expect it to increase in the countries of south-east Europe, notably to facilitate their pre-accession preparation, but also in other neighbouring countries such as Ukraine and Russia.
Miklos Marschall, regional director for Europe and central Asia, Transparency International
While the prospects for economic growth and foreign direct investment have improved in recent years in some parts of south-east Europe, the region continues to perform well below its potential. A major reason for this is continued endemic corruption. All countries in the region – including two immediate EU candidates, Bulgaria and Romania – score very poorly on Transparency International's Corruption Perception Index 2004.
In addition to macro-economic and institutional reforms, it is also vital to mobilize the population in the fight against corruption; fighting corruption should not be an "elite's business". There is a frequently perceived apathy and cynicism among the people of the region concerning corruption.
However, our Advocacy and Legal Advice Centres in four countries of south-east Europe show that this is not an accurate understanding of the situation. Over 5,000 complaints about corruption have been registered in their first year of operation.
This shows that when people have a viable and trustworthy mechanism for being involved in the fight against corruption, they will frequently seize it. A central challenge for enhancing the impact of large investments is to provide individuals (small business owners, civil servants) with credible mechanisms to report abuses.
If we wish to foster strong market economies in a democratic context it is essential that we build coalitions in all sectors to fight corruption. A purely technocratic approach to fighting corruption is no more likely to be sustainable than castles built on sand.