The European Bank for reconstruction and development has approved the participation of China as a shareholder

LONDON, December 14. /Corr. Igor Brovarnik/. The European Bank for reconstruction and development (EBRD) approved the request of the Chinese authorities to accept the PRC as a shareholder of the Bank. About it on Monday informed the correspondent in the press service of EBRD.

“China’s membership in the EBRD will open significant additional opportunities for long-term investments by Chinese groups in the regions where the EBRD operates,” – said the President of the Bank Suma Chakrabarti.

In turn, the head of the people’s Bank of China Zhou Xiao Chuan in the letter to the shareholders of the EBRD, stressed that Beijing is ready “to make a significant contribution to the Bank, which works with countries with economies in transition, as well as to share their experience”.

“For its part, the EBRD sees a lot of opportunities to work with Chinese companies on various projects in the regions that meet the criteria of the Bank for the provision of investment. There is a possibility for cooperation in all regions of EBRD operations from Central Asia to Eastern Europe and North Africa”, – said the press service of the Bank, adding that “the EBRD is ready to cooperate with the Asian infrastructure investment Bank, including work on joint projects”.

The EBRD was established in 1991 primarily to provide assistance to countries of the former USSR and Eastern Europe, he is engaged, in particular, large infrastructural projects. Among the shareholders of the Bank in addition to European countries includes the United States and Japan. Beijing has applied for membership in the EBRD last month.

Connecting China to this structure will contribute to its strategic vision of creating a new silk road between East Asia and Europe in the form of a series of interrelated transport and industrial projects. The leading countries of the European Union acceded to the new Beijing Asian Bank of infrastructure investments. The EBRD has already expressed willingness to advise this structure for projects in Russia and the CIS.