Libya joins EBRD in bid for bank funds

The European Bank for Reconstruction and Development voted Thursday in favour of Libya becoming a member country, a move that could see it eventually receive EBRD financing. The bank's board of governors approved membership for the north African country on the final day of the EBRD annual meeting in Warsaw. "Libya has become a member of the European Bank for Reconstruction and Development, with a view to becoming an EBRD recipient country, which would enable Libya to benefit from the Bank's investment programmes," said a statement. "Any decision to grant recipient country status to Libya will be taken separately following a thorough assessment by the Bank of the political, economic and operational environment in the country," it added, according to AFP.