Development bank EBRD says U.S. has confirmed its support
Reuters
Published Oct 12, 2017 11:17AM ET
Development bank EBRD says U.S. has confirmed its support
LONDON (Reuters) - The European Bank for Reconstruction and Development said on Thursday that its top shareholder, the United States, had confirmed its support for the bank and its self-financing and private sector-focused business model.
Multilateral lenders were put on alert this week when U.S. President Donald Trump's administration raised questions about the World Bank's finances and then said it was pulling out UNESCO, the cultural and educational agency of the United Nations.
"We saw the U.S. administration yesterday and they confirmed their support for the EBRD," the bank's spokesman, Jonathan Charles, said.
The United States is the biggest shareholder in the EBRD with a 10 percent stake. The London-based development bank is owned by 65 countries from five continents, as well as the European Union and the European Investment Bank.
Last year it made a 1 billion euro ($1.18 billion) profit.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.