EBRD shareholders approve Benin, Ivory Coast to join as members

LONDON (Reuters) – Shareholders of the European Bank for Reconstruction and Development (EBRD) have approved Benin and Ivory Coast to join as new members, the lender said in a statement on Tuesday.

Both countries had applied in July and August respectively, and wanted to become recipients of EBRD financial and advisory services as well.

EBRD governors had approved the first stage in the membership process while the two countries will have to meet some final pre-membership requirements before the process is concluded, the bank said.

“We are very happy to welcome Benin and Côte d’Ivoire as our latest members and look forward to them becoming countries of operation as well,” President Odile Renaud-Basso said in an emailed statement.

(Reporting by Karin Strohecker, editing by Jorgelina do Rosario)