European Bank for the rebuilding and the development

See also: Berd (homonymy)

The European Bank for the rebuilding and development (BERD) is a International organization whose seat is located at London and charged with facilitating the passage to a market economy in the countries of the East and the East. Created in Paris the May 29th 1990, following an idea of François Mitterrand, it was inaugurated the April 15th 1991.

Role and means

It issues loans on the international market which are used for to him financing or cofinancing investments (either by loans, or by acquisitions of a holding) supporting the transition towards an market economy in the Central European countries and Eastern (PECO), in the countries of the ex-USSR and in Mongolia.

Contrary to the other international financial institutions, the mandate of the BERD is limited to the countries “which are committed respecting and into practice put the principles of the pluralist democracy, pluralism and the market economy, to support the transition from their economies towards market economies, and to promote private initiative and the company spirit there”. The activities of the Bank thus are extremely limited in Bielorussia, Ouzbékistan and to the Turkménistan, of which the authoritarian regimes do not fill these criteria.

In 2006, the BERD invested 4,9 billion euros in 301 different projects; it carried out 2,4 billion euros of benefit.

One should not confuse it with the European Banque of investment (EIB).

Members

The BERD, which counted 38 shareholders in 1990, gathers 63 of them in July 2007.

Presidency

The president of the BERD is elected by the Council of the governors for one four years renewable duration. Since its creation, the BERD was directed by four presidents:

See too

Related articles

External bonds

  • the official site (in French)
  • Inaugural speech per François Mitterrand on the site of European NAvigator
  • Article: " A bank of combat" , of Lionel Allion, Humanity, of April 16th, 1991

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