European Bank for Reconstruction and Development (EBRD)

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.