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EBRD

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EBRD
See: European Bank for Reconstruction and Development

European Bank for Reconstruction and Development
A bank created after the end of the Cold War to help Central and Eastern European nations in the transition to capitalism. Among other things, it provides loans to companies and governments for new and expanded operations, assists in privatization of former state-owned businesses, and helps with bank stabilization. In 2006, it began changing its focus from helping former Soviet bloc nations in Europe to former members of the Soviet Union in Central Asia, including Russia itself. It is financed by member nations across the world, including most Western European countries and the United States.


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Not every country in this region, where the EBRD is especially active, faced the same problems, Bergloef noted however: those in southeastern Europe for instance were hit especially hard, after investing predominantly in property and not in producing goods.
During their 2-day stay, the EBRD directors are going to meet President Gjorge Ivanov, Prime Minister Nikola Gruevski, National Bank Governor Petar Gosev, and Finance Minister Zoran Stavreski.
EBRD says signs of positive growth in the third quarter of 2009 suggests that the recession is now bottoming out in many countries, noting however that any upturn in 2010 was likely to be fragile and patchy.
 
 
 
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