European Bank for Reconstruction and
Development
Logo of the EBRD
Founded in 1991, the European Bank for
Reconstruction and Development (EBRD)
uses the tools of investment to help build
market economies and democracies in 27
countries from central Europe to central
Asia. Its mission was to support the formerly
communist countries in the process of estab-
lishing their private sectors.[1]
Headquartered in London, the EBRD is
owned by 61 countries and two intergovern-
mental institutions. Despite its public sector
shareholders, it invests mainly in private en-
terprises, usually together with commercial
partners.
EBRD provides project
financing
for
banks, industries and businesses, both new
ventures and investments in existing compan-
ies. It also works with publicly owned com-
panies to support privatization, restructuring
state-owned firms and improvement of muni-
cipal services.
The EBRD’s mandate stipulates that it
must only work in countries that are commit-
ted to democratic principles. The EBRD is
directed by its founding agreement to pro-
mote, in the full range of its activities, envir-
onmentally
sound
and
sustainable
development.
Erik Berglof is the Chief Economist.
The following countries are members and
recipients of
investments:[2] Albania, Ar-
menia, Azerbaijan, Belarus, Bosnia and
European Bank for Reconstruction and
Development member states
Members,
only financing
Members, recipients of
investments
Herzegovina, Bulgaria, Croatia, Estonia, Ge-
orgia, Hungary, Kazakhstan, Kyrgyzstan,
Macedonia, Moldova, Mongolia, Montenegro,
Poland, Romania, Russia, Serbia, Slovakia,
Slovenia, Tajikistan, Turkey, Turkmenistan,
Ukraine and Uzbekistan.
The following countries are financing
members only: Australia, Austria, Belgium,
Canada, Cyprus, Czech Republic (receiving
member
until
2007-12-31[3]),
Denmark,
Egypt, Finland, France, Germany, Greece,
Iceland, Ireland, Israel, Italy, Japan, Luxem-
bourg, Malta, Mexico, Morocco, Netherlands,
New Zealand, Norway, Portugal, South
Korea, Spain, Sweden, Switzerland, Turkey,