The European Bank for Reconstruction and Development, the European Investment Bank and the World Bank have pledged to invest €24.5 billion to fight the financial crisis in central and eastern Europe.
The two-year joint initiative will include equity and debt financing, credit lines and risk insurance, the three groups said in a joint statement.
The EBRD will provide up to €6 billion for the financial sector in the region for debt and equity financing for banks and businesses, and trade finance.
The EIB will provide €11 billion of lending facilities, while the World Bank will provide support totalling about €7.5 billion.
'The response takes into account the different macroeconomic circumstances in, and financial pressures on countries in eastern Europe, acknowledging the diversity of challenges stemming from the global financial retrenchment,' the groups added.
