Wednesday, December 16, 2015, Poush 2, 1422 BS, Rabi Al-Awwal 3, 1437 Hijri

China joins European development bank
Published :Wednesday, 16 December, 2015,  Time : 12:00 AM  View Count : 16

LONDON, Dec 15: The European Bank for Reconstruction and Development said Monday it had accepted China as a member, handing the world's second biggest economy investment routes into Europe, Africa and Middle East.
"China's membership of the EBRD will open up significant further opportunities for sustainable investment by Chinese groups in the regions where the EBRD works," bank president Suma Chakrabarti said in a statement.
Founded in 1991 to aid central and east European states emerging from Soviet rule to make the transition toward market economies, the bank now oversees development projects in 36 countries, including Ukraine, Egypt and Mongolia.
Some of the countries where the London-based EBRD operates include what China calls the "Silk Road economic belt" where Beijing is developing trade and investment links.    ?AFP

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