European Bank for Reconstruction and Development, EBRD
- (Photo: European Commission)
The EBRD was established in 1991 to finance European-wide development and reconstruction projects. It is based in London and is not an EU institution. The EBRD assists the former communist countries to develop into market economies.
- Formerly lead by Francois Mitterrand’s advisor, Jacques Attali, who became involved in a financial scandal. Now lead by Jean Lemierre.
- In 1997, the Bank capital was doubled to 20 billion Euro.