European Bank For Reconstruction And Development:
The European Bank for Reconstruction and Development (EBRD) recently pledged further support for war-torn Ukraine with plans to increase its capital by 3 billion-5 billion euros.
- European Bank for Reconstruction and Development (EBRD) 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 transitioning into democracies by developing free-market economies after the fall of communism.
- Headquarters: London
- It provides project 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 partners to support privatisation, restructuring and improvement of municipal services.
- 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.
- It is publicly owned by shareholders in 69 countries.
- India became the EBRD’s 69th shareholder when it joined the Bank in July 2018.