EBRD shareholders approve 50 percent capital increase

14th May 2010, Comments 0 comments

Shareholders of the European Bank for Reconstruction and Development on Friday approved a 50 percent increase in its capital, French Finance Minister Christine Lagarde said).

"We have approved a capital increase of 10 billion euros," Lagarde, who heads the banks board of governors, told journalists.

The decision raises the institution's resources to 30 billion euros (38 billion dollars) to be used to help Eastern European countries weather the effects of the Greek debt crisis.

© 2010 AFP

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