About the 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 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 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:
- The EBRD is owned by 72 countries, the European Union and the European Investment Bank.
- Each shareholder is represented individually on the Board of Governors of the EBRD, which has overall authority over the Bank and is responsible for approving its overall strategic direction.
- India became the EBRD's 69th shareholder when it joined the Bank in July 2018.
