Glossary: European Bank for Reconstruction and Development (EBRD)

DEFINITION:
A bank founded under sponsorship of the European Community (q.v.) in 1990, to provide loans to East European countries (Bulgaria, the Czech and Slovak Federative Republic, Hungary, Poland, Romania, the Soviet Union, and Yugoslavia) to establish independent, market-driven economies and democratic political institutions. Some fifty-eight countries were shareholders in 1992.

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