European Bank for Reconstruction and Development (EBRD)

About European Bank for Reconstruction and Development (EBRD):

• It is an international financial institution with the mandate to promote transition towards a sustainable, open-market economy and to foster innovation.
• The EBRD was created in April 1991 to help Eastern European and ex-Soviet countries transition into democracies by developing free-market economies after the fall of communism.
• Headquarters: London
• It providesproject financing mainly for private enterprises, usually together with other commercial lending partners, in countries that are committed to, and apply, democratic principles. 
• It also works with public partnersto support privatization, restructuring, and improvement of municipal services.
• It does this by financing investments, providing business services, and getting involved in high-level policy dialogue in these countries to support the private sector development.
• It prioritizes support for countries in Central and West Asia, and North Africa.
• It focuses on advancing developmental goals in finance and policy reform.
• The organization also promotes environmentally sustainable development and gender equality and promises to be fully transparent.

Membership:

o The EBRD is owned by 72 countries, the European Union and the European Investment Bank.

o Each shareholder is represented individuallyon the Board of Governors of the EBRD, which has overall authority over the Bank and is responsible for approving its overall strategic direction.

o India becamethe EBRD’s 69th shareholder when it joined the Bank in July 2018.

Q1: What is the European Investment Bank?

The European Investment Bank (EIB) is the lending arm of the European Union (EU). EIB is jointly owned by the EU countries. The Bank borrows money on capital markets and lends it on favorable terms to projects that support EU objectives.It seeks to boost Europe’s potential in terms of jobs & growth, support action to mitigate climate change and promote EU policies outside the EU.

source:EBRD board approves 4 bln euro capital increase to boost Ukraine funding

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