This is an interesting story covered by Bloomberg:
May 14 (Bloomberg) -- The European Bank for Reconstruction and Development’s shareholders are meeting today to increase the bank’s resources for the next five years and foster the post- crisis recovery from central Europe to central Asia.
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“The world economic outlook is fragile and external circumstances remain perilous,” said Mirow. “Concerns remain. Recent developments in the euro zone reflect this fragility and we commend the decisive measures adopted by the EU and the International Monetary Fund towards calming the markets.”
The EBRD is preparing to increase its capital by 50 percent to 30 billion euros ($38.8 billion) at the meeting today, enabling it to invest about 52 billion euros until 2015. It helped limit the impact of the financial crisis, which hit emerging Europe the hardest, by persuading western banks to remain in the 30 countries in which it operates and providing them with funds to lend to businesses.
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The former communist countries in Europe and central Asia are recovering from the deepest recession since switching to free-market policies two decades ago. While the EBRD now expects most countries where it operates to recover, the rebound will be protracted. The bank will give new economic forecasts tomorrow.
The EBRD, owned by 61 countries and two intergovernmental institutions, was created in 1991 to invest in former communist countries from the Balkans to Asia to help them transform their economies.
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