EBRD adds India to membership

The European Bank for Reconstruction and Development (EBRD) has added India to its growing list of members. It represents the lender's latest move to harness increasing emerging market spending power two years after China joined the bank. India - like China - will only be providing money rather than receiving it with its new membership. It may, however, benefit indirectly through EBRD projects or if Indian companies invest alongside the bank. India becomes EBRD's 69th shareholder.