The European Bank for Reconstruction and Development ( EBRD ) is an international financial institution founded in 1991. As a multilateral developmental investment bank , the EBRD uses investment as a tool to build market economies . Eastern Europe Central Europe Initiated Initiatives for the Countries of Central Europe. EBRD has members from all over the world (North America, Africa, Asia and Australia, see below), with the biggest shareholder being the United States, but only lends regionally in its countries of operations. Headquartered in London , the EBRD is owned by 65 countries and two EU institutions. Despite its public sector shareholders, it invests in private enterprises, together with commercial partners.
The EBRD is not limited to the European Investment Bank (EIB), which is owned by EU member states and is used to support EU policy. EBRD is also separate from the Council of Europe Development Bank (CEB).
The EBRD was founded in April 1991 during the dissolution of the European Union by representatives of 40 nations from 3 continents and two European institutions, the European Investment Bank (EIB) and the European Economic Community (EEC, now European Union – EU), after reaching agreement on the bank’s charter, size, and distribution of power among shareholders. 
The EBRD was founded to support countries of the Eastern Bloc in the process of establishing their private sectors .  To that end, it offers „project financing“ for banks, industries and businesses, for new ventures or existing companies. It works with public ownership to support their privatization , as advocated by the WTO since the 1980s  and „improvement of municipal services“.
The EBRD mandates to work only in countries that are „committed to democratic principles“. It promotes „environmentally sound and sustainable development“, and does not finance „defense-related activities, the tobacco industry, selected alcoholic products, substances banned by international law and stand-alone gambling facilities.“ 
Some NGOs have criticized the EBRD for financing projects they consider to be environmentally and socially harmful. Although it has increased its investments in energy efficiency and sustainable energy in recent years, these NGOs consider the bank to reduce the impacts of green energy , and airports.   Among the projects are the Contested Ombla power plant in Croatia ,   the Kumtor Gold Mine in Kyrgyzstan , and the Šoštanj lignite power plant in Slovenia . 
NGOs have criticized the EBRD on the lack of progress of the EBRD makes in its main mission, the „transition to open and democratic market economies .“  
2014 sanctions against Russia
The EBRD announced on July 23, 2014 that it would suspend new investment projects in Russia, following an earlier declaration by the European Council .  The European Council was made in the context of the 2014 pro-Russian unrest in Ukraine .  As of 2014 Russia has been the largest funding recipient of all countries. In 2013, the Russian Federation received € 1.8 billion for investments from the EBRD and € 1 billion from the EIB. Russia employed the funds to finance a variety of projects like pipelines valves, property acquisitions, and a loan to a hypermarket chain. Two Russian projects are awaiting funding from the EBRD: a 300 million € plan for promoting energy efficiency, and a $ 180 million loan to lease agricultural and forestry equipment.   The bank stated that it will continue to be managed on-going projects in Russia. 
In 2015, the EBRD invested a record amount in the Central Asian region. The total investment in 2015 rose by 75% reaching € 1,402.3 billion. Kazakhstan reported the largest total volumes of investment.reaching 790 million euro in 2015. 
The following presidents have served the EBRD to date (as of 2017 ). 
- Jacques Attali (1991-1993)
- Jacques de Larosière (1993-1998)
- Horst Köhler (1998-2000)
- Jean Lemierre (2000-2008)
- Thomas Mirow (2008-2012)
- Suma Chakrabarti (2012-present)
Recipient countries of investments
The Following countries are recipients of funds: Albania , Armenia , Azerbaijan , Belarus , Bosnia and Herzegovina , Bulgaria , Croatia , Cyprus , Estonia , Egypt , Georgia , Greece , Hungary , Jordan , Kazakhstan , Kosovo , Kyrgyzstan , Latvia , Lithuania , Macedonia , Moldova , Mongolia ,Montenegro , Morocco , Poland , Romania , Russia , Serbia , Slovakia , Slovenia , Tajikistan , Tunisia , Turkey , Turkmenistan , Ukraine and Uzbekistan . 
The EBRD publishes its tenders and contracts on its own website  and in Business Development . a publication launched in 1978 by the United Nationswith the World Bank and other development banks. 
The Following contribuer countries in the EBRD financing: Australia , Austria , Belgium , Canada , China , Cyprus , Czech Republic (member receiving send up to 2007-12-31),  Denmark , Egypt , Finland , France , Germany , Greece , Iceland , Ireland , Israel , Italy , Japan , Luxembourg , Malta , Mexico ,Morocco , Netherlands , New Zealand , Norway , Portugal , South Korea , Spain , Sweden , Switzerland , Turkey , the United Kingdom and the United States of America as well as the European Union and the European Investment Bank 
To be eligible for EBRD funding, „a project must be located in an EBRD country of operations, have strong commercial prospects, involve significant equity contributions in-cash or in-kind from the project sponsor, benefit the local economy and help develop the private sector and satisfy banking and environmental standards. „The loans, the loans, the leasing facilities, the trade finance and the professional development through support programs. Direct investments range from € 5 million to € 230 million. Smaller projects are financed by the EBRD and through „financial intermediaries“. The EBRD website states it has helped finance over 1 million smaller projects by supporting local banks, micro-business banks, equity funds and leasing facilities.
The EBRD finances projects in Sectors Including agribusiness , energy efficiency , financial institutions , manufacturing , municipal infrastructure, Also Known As public works (qui includes transportation, schools, water supply, waste disposal, and pollution control services), natural resources , power and energy , property , telecommunications , tourism , transport , information technology . [ quote needed ]
Since its founding in 1991, so far only the Czech Republic has graduated from borrower to shareholder within EBRD, in 2007. 
- Development Finance Institution
- Green Climate Fund
- Sustainable development
- Irakli Kovzanadze , chairman of the Task Force on corporate governance of banks in Eurasia (2007-2009)
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