EBRD to Scale Up Investments in 2009

The European Bank for Reconstruction and Development intends to invest up to EUR7 billion (USD8.7 billion) in 2009 to help central and eastern Europe in the wake of the global financial turmoil, according to a letter sent by EBRD President Thomas Mirow to shareholders. “The EBRD is financially robust and more than well-equipped and willing to respond with exceptional means to exceptional economic circumstances,” Mirow said. The proposed investments – a record amount since the bank’s inception – are expected to attract supplementary funding from the private sector at a ratio of at least 2-to-1, bringing EBRD-led financing to EUR20 billion next year. (“EBRD to boost investments to combat financial crisis” - European Bank for Reconstruction and Development, Nov. 20, 2008)

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