• The European Bank for Reconstruction and Development (EBRD) has approved a 4 billion euro capital increase that will enable the bank to double its Ukraine investments once reconstruction there begins.

ABOUT EBRD

• The European Bank for Reconstruction and Development (EBRD) is an international financial institution created with the aim to assist countries of the former Eastern Bloc in developing their private sector.
• Established- 1991
• Headquarters – London, UK
• The EBRD is owned by 72 countries and two EU institutions- European Union and the European Investment Bank.
  • India was inducted as 69^th member of EBRD in 2018.
• It provides project financing mainly for private enterprises, usually together with other commercial lending partners, in countries that are committed to, and apply, democratic principles.
• It also works with public partners to support privatisation, restructuring and improvement of municipal services.
• It prioritizes support for countries in Central and West Asia, and North Africa.