Eastern Europe Gets Capital Boost from EBRD

Eastern Europe is off to a more thriving investment climate as the European Bank for Reconstruction and Development approved a scale-up in capital for the region, opening the way to investments of 9 billion euros in each of the next two years and 8.5 billion euros in the next three years, Bloomberg Businessweek reports.

The call forms part of the five-year investment program initiated by EBRD President Thomas Mirow to set the foundation for sustainable economic growth from central Europe to central Asia.

EBRD has invested 47 billion euros in Eastern Europe since 1991.

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    Chiden Balmes

    Chiden, a correspondent based in Seoul, focuses on computer-assisted reporting to provide international development professionals with practical business and career information. He also contributes to the Development Newswire and the Global Development Briefing, two of the world's highest-circulation development publications.