EBRD Chinese membership approved

EBRDEBRD Chinese membership: The European Bank for Reconstruction and Development (EBRD) has accepted China as one of its shareholders, the bank said in a statement on Monday in a move that will give Beijing a token but symbolic 0.1% stake and new way of extending its global influence. 
It also gives Beijing another foothold in an international organisation and takes the number of EBRD shareholder countries to 65.
“China’s membership of the EBRD will open up significant further opportunities for sustainable investment by Chinese groups in the regions where the EBRD works,” EBRD President Suma Chakrabarti was quoted as saying.

Source: reuters