Tim Adams, the U.S. Treasury undersecretary for international affairs, believes that the time is ripe for a discussion on the future role of the European Bank for Reconstruction and Development. Adams said: "I think at the time it was established it was to be a limited-term institution and I think it is appropriate for us soon to step back and say: has this institution achieved what it was meant to?" The bank is currently the biggest single donor to and investor in Eastern Europe and the former Soviet republics. It extends assistance to banks, industries and businesses and backs efforts aimed at privatizing and restructuring of state-owned companies. (Source: U.S. Treasury's Adams urges review of EBRD's future/Reuters)