Canada and the European Bank for Reconstruction and Development
Established in 1991, the European Bank for Reconstruction and Development (EBRD) operates in 35 countries from Central and Eastern Europe, Central Asia, and the Southern and Eastern Mediterranean. The Bank’s mandate is to foster the transition towards open market‑oriented economies and to promote private and entrepreneurial in countries committed to and applying the principles of multiparty democracy, pluralism and market economics. The EBRD provides financing in the form of loans, guarantees and equity to banks, industries, and businesses; working with both new and existing ventures in the private sector.
The EBRD consists of 64 member countries and 2 intergovernmental organizations, the European Union and the European Investment Bank. Canada is a founding member of the EBRD, as well as its eighth-largest shareholder. Canada holds seats on both the Board of Directors and the Board of Governors at the EBRD. The Canadian Executive Director represents a constituency that includes, in addition to Canada, Morocco, Jordan and Tunisia.
The EBRD is a key partner for Canada in pursuing joint solutions to challenges that countries face as they transition to market economies in Eastern Europe, particularly in the Ukraine. Canada continues to support the EBRD's efforts to promote sustainable economic growth, private sector development, and enhanced trade regulations.
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