EBRD Approves China’s Bank Membership Application

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European Bank for Reconstruction and Development - Sputnik International
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The European Bank for Reconstruction and Development (EBRD) announced Monday it had approved China’s application for membership in the bank.

LONDON (Sputnik) – "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," EBRD President Sir Suma Chakrabarti said in a statement.

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The EBRD also expressed willingness to cooperate with the Asian Infrastructure Investment Bank (AIIB), including on joint projects, according to the statement.

The bank comprises 66 shareholders, including 64 countries and two international organizations. Most of the stakeholders are European nations, but countries like the United States and Japan also participate in the decision-making.

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