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March 06, 2018

European Bank for Reconstruction and Development (EBRD) approves India’s membership

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The shareholders of the European Bank for Reconstruction and Development (EBRD) today agreed to India becoming member. With this India will be the 69th member of EBRD. The move follows the Indian government’s application to seek the EBRD membership back in December 2017 and sets the stage for an increase in joint investment with Indian companies in the Bank’s regions of operation.

The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around €1 million. While India will not be a recipient of EBRD financing, it will benefit from the banks expertise and support in the region.

About EBRD
The London-headquartered EBRD is a multilateral development bank set up in 1991 after the fall of the Berlin wall to promote private and entrepreneurial initiative in emerging Europe.     
Important Details to Note :
  • Founded in : 1991
  • Location : London
  • President : Sir Suma Chakrabarti
  • Managing Director : Nandita Parshad 
 Read Advantages for India being a member of EBRD from HERE
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