European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development ( EBRD or EBRD short, of Engl. European Bank for Reconstruction and Development ) is a bank founded in 1991. Your job placed after the collapse of the Eastern Bloc in 1989, is to support the countries in Central and Eastern Europe and the Commonwealth of Independent States in their transition towards a market economy and private entrepreneurship and is financially.

Target

Objective is to promote the economic transformation process in the former communist CEE and CIS countries. The development is to be supported towards a market economy with private entrepreneurial activities.

Operation

The EBRD promotes structural and sectoral reforms and competition, privatization and entrepreneurship. It supports through its funding the recovery of co-financing and foreign direct investment and the domestic capital mobilization. Investments are mainly in private enterprises, usually together with business partners. The Bank also carries out technical cooperation in relevant areas and cooperates with international financial institutions and international and national organizations.

Eligible, in particular banks, industrial firms and companies, thereby both start-ups and investments in existing companies. Cooperation with the public sector aimed at privatization, restructuring state-owned companies and the improvement of municipal services. According to its mandate, the EBRD may only act where democratic principles are respected. Ecological aspects play a crucial role.

The main financial instruments are loans, equity investments, guarantees, and financing through exchanges, the bank involved in where.

Structure

EBRD shareholders by 61 countries and two intergovernmental institutions (European Commission and European Investment Bank), so public support. The main bodies are the Board of Governors (one representative per member country) and the Executive Board (23 members, appointed for three years by the Board ). The President of the EBRD - appointed by the Board of Governors for four years - was until July 2, 2008, the Frenchman Jean Lemierre and since then the German SPD politician Thomas Mirow. Within the EBRD has the following departments:

  • Banking
  • Finances
  • Risk Management
  • Human Resources
  • Office of the Secretary
  • Office of the Consul General
  • Evaluation Department
  • Office of the Chief economist
  • Internal Audit
  • Office of the Chief Compliance Officer
  • Communication
  • Office of the President

According to a report in the French newspaper L' Express from June 2008, the salary of the President of the EBRD is € 428,000 per annum, plus free accommodation in London and a company car with driver.

Members

The members of the EBRD and their accession date:

  • Egypt, May 29, 1990
  • Albania, December 18, 1991
  • Armenia, December 7, 1992
  • Azerbaijan, September 25, 1992
  • Australia, May 29, 1990
  • Belgium, May 29, 1990
  • Bosnia and Herzegovina, June 17, 1996
  • Bulgaria, May 29, 1990
  • Denmark, May 29, 1990
  • Germany, May 29, 1990
  • Estonia, February 28, 1992
  • Finland, May 29, 1990
  • France, May 29, 1990
  • Georgia, September 4, 1992
  • Greece, May 29, 1990
  • UK, May 29, 1990
  • Ireland, May 29, 1990
  • Iceland, May 29, 1990
  • Israel, May 29, 1990
  • Italy, May 29, 1990
  • Japan, May 29, 1990
  • Canada, May 29, 1990
  • Kazakhstan, July 27, 1992
  • Kyrgyzstan, June 5, 1992
  • Kosovo, December 17, 2012
  • Croatia, April 15, 1993
  • Latvia, March 18, 1992
  • Liechtenstein, May 29, 1990
  • Lithuania, March 5, 1992
  • Luxembourg, May 29, 1990
  • Malta, May 29, 1990
  • Morocco, May 29, 1990
  • Macedonia, April 21, 1993
  • Mexico, May 29, 1990
  • Moldova, May 5, 1992
  • Mongolia, October 9, 2000
  • Montenegro, 2006
  • New Zealand, May 29, 1990
  • The Netherlands, May 29, 1990
  • Norway, May 29, 1990
  • Austria, May 29, 1990
  • Poland, May 29, 1990
  • Portugal, May 29, 1990
  • Romania, May 29, 1990
  • Russia, April 9, 1992
  • Sweden, May 29, 1990
  • Switzerland, May 29, 1990
  • Serbia, January 19, 2001
  • Slovakia, January 1, 1993
  • Slovenia, December 23, 1992
  • Spain, May 29, 1990
  • South Korea, May 29, 1990
  • Tajikistan, October 16, 1992
  • Czech Republic, January 1, 1993
  • Turkmenistan, June 1, 1992
  • Ukraine, April 13, 1992
  • Hungary, May 29, 1990
  • USA, May 29, 1990
  • Uzbekistan, April 30, 1992
  • Belarus, June 10, 1992
  • Cyprus, May 29, 1990
  • European Community, May 29, 1990
  • European Investment Bank, May 29, 1990

History

Encouraging a European bank gave the French President François Mitterrand, in a speech before the European Parliament in Strasbourg on 25 October 1989. His idea resulted in a report signed in Paris on 29 May 1990 Convention of 40 States, the European Commission and the European Investment Bank to build, the European Bank for Reconstruction and Development. It entered into force on 28 March 1991. From 15 April 1991, the Bank began its operations in in London.

Types of business entity East-Central Europe
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