EBRD Will Increase New Finance to Central European Union Member Countries

The European Bank for Reconstruction and Development (EBRD) will increase new finance to Central European Union member countries.

 

The European Bank for Reconstruction and Development (EBRD) will increase new finance to Central European Union member countries, reversing its earlier strategy of withdrawing from these countries, the EBRD announced on November 20th 2008.

The EBRD said that President Thomas Mirow informed the bank's shareholder governments that it plans to raise financing to EUR 7 billion in 2009, a new record and 20 pct more than originally planned, to help its recipient countries cope with the financial crisis. 

Central Europe could receive more than half of the planned 2009 financing as EBRD decided to reverse the reduction of its investment in this region in the light of the new developments, the EBRD said.

 

News Monitoring