Economy of the European Union Current Affairs, GK & News

India becomes newest member of European Bank for Reconstruction and Development

India has become the 69th shareholder of the European Bank for Reconstruction and Development (EBRD). This move will enable Indian companies to undertake joint investments in regions in which the EBRD operates. Here, India takes a shareholding in the EBRD but it will not be a recipient of EBRD financing. London-headquartered EBRD is a multilateral ..

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European Bank for Reconstruction and Development approves India’s membership

The European Bank for Reconstruction and Development (EBRD) has recently approved India’s membership after its shareholders gave their nod to make India its 69th member. The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around €1 million. The London-headquartered EBRD is a multilateral ..

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Union Cabinet approves India’s membership for EBRD

The European Bank for Reconstruction & Development (EBRD) is an international financial institution founded in 1991. Its headquarters is located at London, England. It is in news recently because the Union Cabinet, chaired by Prime Minister Narendra Modi, has recently approved India’s membership for the EBRD for which the required steps will be initiated by ..

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The European Investment Bank (EIB) signed € 300 million of loan pact with India for Bangalore Metro Rail Project Phase II

The European Investment Bank (EIB) has signed the Finance Contract with India to € 300 million for Bangalore Metro Rail Project Phase II Line R6. The objective of the project is to bring in a quantum improvement in the transportation sector in the city in tandem with the Bangalore Metropolitan Transport Corporation (BMTC) and other ..

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The Asian Development Bank (ADB) sanctioned $300 million of loan facility to carry forward fiscal reforms in West Bengal

The Asian Development Bank (ADB) has sanctioned $300 million loan facility to continue a comprehensive series of fiscal reforms in West Bengal to bring about more accessible, affordable, and high quality public services. The new loan programme, which will be undertaken over two years, will carry forward reforms such as linking medium term expenditure plans ..

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