European Bank for Reconstruction and Development

  A government sponsored bank for funnelling funds to Eastern Europe and the republics of the former USSR. It is owned by 45 governments and European institutions (such as the European Investment Bank and the EC). The USA owns 10%, France, Germany, Italy, Japan, and the UK each have 8.5%. It was created in 1991 with a capital of ECU 10 billion (approximately US$12.5 billion). In the words of the bank itself, its main objective is to "promote private and entrepreneurial initiative in the central and eastern European countries committed to and applying the principles of multi-party democracy, pluralism and market economies.". See also Bank Research for Eastern Europe and International Bank Credit Analysis.

International financial encyclopaedia . 2014.

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