On 14 May, Minister for Finance Edward Scicluna stressed the importance for the European Bank for Reconstruction and Development to engage with the private sector in Libya, in spite of the current challenging situation there. He was addressing the EBRD's Board of Governors' 24th annual meeting in the Georgian capital, Tbilisi.

He stated: "We must keep in mind that notwithstanding what we see or hear on the media, and no matter how bad the political situation on the ground in Libya, there are several law abiding citizens, several private businesses waiting for democracy and economic stability to return. Since Libya is one of the EBRD's countries of operations it should not let the Libyan people and entities down. It is important to engage with them and show them that their situation is being monitored closely by some form of presence even if temporarily housed in a neighbouring state. They certainly need our comfort and support.''

Top governmental officials from more than 60 countries, heads of international institutions, global decision-makers, corporate executives and staff from the EBRD are taking part in the two-day event to consider a strategy for the EBRD regions for the coming years.

The EBRD is an international financial institution that supports projects in over 30 countries, from Eastern Europe to central Asia and the southern and eastern Mediterranean. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies.

Malta has been a shareholder of the EBRD since it was founded in 1991 to support the transition to market economies and democracies after the collapse of communist rule in Eastern Europe.