European Bank for Reconstruction and Development (EBRD)

Reference work entry
Part of the The Statesman's Yearbook book series (SYBK)

History. The European Bank for Reconstruction and Development was established in 1991 when communism was collapsing in central and eastern Europe and ex-Soviet countries needed support to nurture a new private sector in a democratic environment.

Activities. The EBRD is the largest single investor in the region and mobilizes significant foreign direct investment beyond its own financing. It is owned by 66 countries and two intergovernmental institutions. But despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners. Today the EBRD uses the tools of investment to help build market economies and democracies in 30 countries from Central Europe to Central Asia.

It provides project financing for banks, industries and businesses, for both new ventures and investments in existing companies. It also works with publicly-owned companies, to support privatization, restructuring of state-owned firms and improvement of municipal...

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