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EBRD president Jean Lemierre and Philip Merrill, chairman of US Ex-Im Bank, met recently in London to discuss how to work closely together to foster transition towards open market economies and promote private and entrepreneurial initiative in the countries of central and Eastern Europe, including the Balkan states, and the Commonwealth of Independent States.  

To seal the cooperation between the banks, Mssrs Merrill and Lemierre signed a Memorandum of Understanding outlining how Ex-Im Bank and the EBRD will enhance joint cooperation by strengthening institutional ties, increasing information and resource sharing and focusing their partnership on three primary areas: small and medium enterprises support, municipality and other sub-sovereign financing, and financial sector development.

Such cooperation will benefit EBRD’s mission of fostering transition towards open market economies and promoting private and entrepreneurial initiative in these countries and Ex-Im Bank’s mission of supporting US exports.