India has become the 69th shareholder of the European Bank for Reconstruction and Development (EBRD). This move paved the way for more joint investment with Indian companies across the bank’s regions of operation.
India had applied for the membership in December 2017. The Board of Governors voted unanimously in favour of the country’s application. The EBRD aims to promote the private and entrepreneurial initiative in emerging Europe and invests in 38 emerging economies.
Source- Business Standard
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- European Bank for Reconstruction and Development is a multilateral development bank set up in 1991 after the fall of the Berlin Wall.
- Suma Chakrabarti is the President of EBRD.
- It headquarters in London, UK.