European Bank for Reconstruction and Development

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European Bank for Reconstruction and Development

(EBRD), international financial institution that invests primarily in the private sector to promote entrepreneurship and foster the development of democratic market economies, est. 1991. Originally focused on the former Communist nations of Eastern Europe and the Soviet Union, the EBRD began investing in Mongolia in 2006 and Turkey in 2009, and has since expanded its focus to include E and S Mediterranean nations. It focuses primarily on new and existing economically viable private companies whose financing needs are not meet by the market; it also works with government-owned companies to foster privatization and restructing and to improve municipal services. More than 60 nations, roughly half of whom receive investments, and the European UnionEuropean Union
(EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community (EC), an economic and political confederation of European nations, and other organizations (with the same member nations)
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 and European Investment BankEuropean Investment Bank,
nonprofit bank created in 1958 by the six founding countries of the European Economic Community (now part of the European Union [EU]). The bank makes or guarantees loans to EU members, principally for projects that will contribute to regional
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 are shareholders in the EBRD.
References in periodicals archive ?
The southern and eastern Mediterranean region, to which Lebanon belongs, is currently the fast-growing region of EBRD operations with more than 6.
The EBRD is an international financial institution founded in 1991.
Deputy Chairman and Minister of Foreign Trade and Economic Relations of BiH Mirko A aroviA and Deputy Director of the EBRD Pierre Heilbronn, with the presence of the President of EBRD and the Chairman of the Council of Ministers of BiH, signed a Memorandum of Understanding between the BiH Council of Ministers and the EBRD on cooperation in supporting investment climate and governance initiatives for Bosnia and Herzegovina.
The FMFB has been a client of the EBRD since 2007 and has demonstrated consistent commitment to the development of EBRD projects and successfully participated in various EBRD initiatives.
The EBRD delegation discussed issues such as support for small and medium business financing needs in local currency and capital market development, support for public services, in particular, water supply.
At the same time, the EBRD takes into account the swift reaction of Bulgariaas over the declaration of a commitment to join the Single Supervisory Mechanism in the EU.
The EBRD's activities in Cyprus, a founding EBRD shareholder, will be conducted in the context of an action plan being implemented by the European Commission, the European Central Bank and International Monetary Fund (the "Troika").
The spokesman also said Cyprus' application would be discussed at the next meeting of EBRD shareholders.
In other countries of the EBRD presence the number of EBRD partners is much lower.
The EBRD annual meeting main event was the election of the new EBRD president who will preside over the institution for the next four years.
The EBRD financed 161 projects in the first six months of 2011, a record number for the first half of any year in the Bank's 20-year history and a clear indication of the strong demand for EBRD funding throughout the 29-country region where it invests.
The EBRD said that shareholders have made significant progress towards a decision on extending the bank's investments to countries in the Middle East and North Africa.