European Bank For Reconstruction And Development

The European Bank for Reconstruction and Development (EBRD) is a financial institution that was created with the objective of developing capitalist interests in the central and western regions of Europe. The institution, which has its headquarters in London, has a 23-member board of directors and is run by five vice presidents and a president. The Articles of Agreement for the institutions were signed in Paris on May 29, 1990, and the bank began its operations formally on March 28, 1991. The proposal to have the EBRD was first made by the French government in 1989. The proposal did not initially go through because the members of the European Economic Community were not interested in such an institution. Despite the opposition, the French government was able ...