1 The European Bank for Reconstruction and Development (‘EBRD’ or ‘Bank’) is one of the youngest regional development banks. Following the establishment of the European Investment Bank (‘EIB’) in 1958, the Inter-American Development Bank (‘IBD’) in 1958, the African Development Bank (‘AfDB’) in 1964, and the Asian Development Bank (‘ADB’) in 1966, the EBRD was established in 1990. As the Iron Curtain fell, and because Central and Eastern Europe (‘CEE’) believed in the ultimate superiority of democracy and capitalism, the reunited continent yearned for a...
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