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 and private economies in countries committed to the transition. The EBRD provides funding in many forms; working with both new and existing ventures in the private sector.
The EBRD consists of 64 member countries and 2 organizations; the European Union and the European Investment Bank. Canada is a founding member of the EBRD, and the 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 as countries face the transition to market economies in Eastern Europe, particularly in the Ukraine. Canada continues to support the EBRD's mandate.
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