India set to join European Bank of Reconstruction and Development

India is set to join the European Bank of Reconstruction and Development (EBRD) after its shareholders agreed to admit the country, enabling Indian companies to undertake joint investments in regions in which the EBRD operates. “This is an important step in the relationship between the EBRD and India, allowing us to build further on already very close ties,” said EBRD President Suma Chakrabarti.

While Indian businesses have cooperated on EBRD projects worth €982 million, the hope is that membership will spur further investment by Indian firms in a range of sectors.