The Union Cabinet today approved India's membership for European Bank for Reconstruction and Development (EBRD), a move which will help it obtain funding in various areas including services and manufacturing.
Steps will be initiated by the Department of Economic Affairs to acquire the membership, Finance Minister Arun Jaitley said after the Cabinet meeting.
The membership will increase the scope of cooperation between India and the multilateral institution through co- financing opportunities in manufacturing, services, information technology and energy.
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