EBRD, CII ink MoU

BANGALORE: The European Bank for Reconstruction and Development (EBRD) and the Confederation of Indian Industry (CII) today signed a Memorandum of Understanding to cooperate in tapping the high potential for synergies in various spheres of their respective activities, at the CII Partnership Summit 2007 being held here.

EBRD through its investments promotes private sector activity in areas such as agribusiness, general industry and the energy sector, strengthening of financial institutions and legal systems, development of infrastructure required to support the private sector and environmentally sound and sustainable development. The bank encourages co-financing and FDI from private and public sectors and also generates technical co-operation in relevant areas.

CII, which serves as a reference point for Indian Industry and the international business community, is an industry led and industry managed organization playing a proactive role in India's development process.

According to the MoU, which was signed by Jean Lemierre , EBRD president and Lt Gen. (Retd) S S Mehta, director general, CII, EBRD will lend its experience and expertise to CII member organizations exploring business opportunities in its area of operation namely Central and Eastern Europe, Commonwealth of Independent States and Mongolia.

The MoU would go a long way in further strengthening the business and trade relations between India and Eastern Europe.

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